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Software Functionality Revealed in Detail
We’ve opened the hood on every major category of enterprise software. Learn about thousands of features and functions, and how enterprise software really works.
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 efficient finance processes cfo

Software Functionality Revealed in Detail

We’ve opened the hood on every major category of enterprise software. Learn about thousands of features and functions, and how enterprise software really works.

Get free sample report
Compare Software Solutions

Visit the TEC store to compare leading software by functionality, so that you can make accurate and informed software purchasing decisions.

Compare Now

Discrete Manufacturing (ERP)

The simplified definition of enterprise resource planning (ERP) software is a set of applications that automate finance and human resources departments and help manufacturers handle jobs such as order processing and production scheduling. ERP began as a term used to describe a sophisticated and integrated software system used for manufacturing. In its simplest sense, ERP systems create interactive environments designed to help companies manage and analyze the business processes associated with manufacturing goods, such as inventory control, order taking, accounting, and much more. Although this basic definition still holds true for ERP systems, today its definition is expanding. Today’s leading ERP systems group all traditional company management functions (finance, sales, manufacturing, and human resources). Many systems include, with varying degrees of acceptance and skill, solutions that were formerly considered peripheral such as product data management (PDM), warehouse management, manufacturing execution system (MES), and reporting. During the last few years the functional perimeter of ERP systems began an expansion into its adjacent markets, such as supply chain management (SCM), customer relationship management (CRM), business intelligence/data warehousing, and e-business, the focus of this knowledge base is mainly on the traditional ERP realms of finance, materials planning, and human resources. The foundation of any ERP implementation must be a proper exercise of aligning customers'' IT technology with their business strategies, and subsequent software selection. 

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Documents related to » efficient finance processes cfo

Managing Risk through Financial Processes: Embedding Governance, Risk, and Compliance


Initiatives to automate and streamline financial processes often focus more on reducing costs than adding value. Adding the kind of value you should have in your financial processes stands at the heart of a broader initiative known as governance, risk, and compliance (GRC). Learn why embedding the components of GRC within your financial processes can help you track financial flows and alert you when things might go awry.

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Customer Process Management: The Real-time Enterprise Depends On the Merging of CPM and BPM


Customer-facing processes are challenging to manage because they are always changing. Conventional workflow automation and stand-alone business process management (BPM) technologies lack many critical components found in customer relationship management (CRM). However, converging BPM and CRM provides the responsiveness, cost-effectiveness, and manageability to achieve optimal results. The converged approach helps align priorities enterprise-wide, reduce risks, and unblock revenue growth potential.

efficient finance processes cfo  solely to be more efficient at their work. Results were the motivation for optimizing their operations. Venice changed shipbuilding in hopes of defeating Napoleon''s navy. Whitney optimized musket assembly to win lucrative defense contracts. Ford perfected the assembly line, not just to make more trucks in less time, but to achieve a cost structure that would change American society. Without results , efficiency would have been meaningless. Fast forward to the information age, when businesses have tried Read More

The State of the Art in Finance


Thanks to recent accounting scandals and an increasingly competitive environment, many chief financial officers and the finance organizations they lead have started to take on new roles within the enterprise. However, given the current state of the finance function in US companies, companies first need to understand the challenges to finance—and the road map to increasing its strategic capabilities.

efficient finance processes cfo  IT LEADS TO MORE EFFICIENT FINANCE FUNCTIONS The APQC survey reaffirmed that more effective use of technology helps companies achieve greater levels of efficiency and gradually frees up personnel for more strategic tasks requiring more thought and managerial capacity. Let''s first discuss how the right use of information technology leads to greater efficiency and lower costs. First, the APQC survey showed that companies with a higher degree of automation have lower overall finance costs. Companies that Read More

Best Practices in Creating a Strategic Finance Function


Many chief financial officers (CFOs) have started to take on new strategic roles. Their goals are to enforce stricter controls to ensure legal and regulatory compliance, offer strategic insights into the internal and external business environment, and connect the business strategy with daily operations through performance tracking. Learn more about the changing role of the CFO in today’s finance organization.

efficient finance processes cfo  IT LEADS TO MORE EFFICIENT FINANCE FUNCTIONS APQC''s OSBC research reaffirmed that more effective use of technology helps companies achieve greater levels of efficiency and gradually frees up personnel for more strategic tasks requiring more thought and managerial capacity. First, the OSBC research showed that companies with a higher degree of automation have lower overall finance costs. Companies that had automated more than 66% of their finance processes had average finance costs of 1.2% of revenues, Read More

The Renewed Finance Function: Extending Performance Management Beyond Finance


The role of the finance team has changed recently, due to increased oversight from regulators, more active investors, and company-specific changes in business operations. What steps are companies taking to respond to the internal and external forces? Find out how finance often repairs core finance and operating activities, as exposed in the results of a survey and a series of interviews among senior finance executives.

efficient finance processes cfo  make their operations more efficient and play a more strategic role in the business. Second, we wanted to deepen the knowledge we have gained through both our own research and our 35 years of expe- rience providing financial management solutions to the world''s leading companies. This study confirms what we have learned through that experience as well as through the benchmarking research conducted by SAP''s Value Engineering group: Investments in IT solutions that automate and stan- dardize critical Read More

Overall Equipment Effectiveness: Monitor and Improve the Effectiveness of Your Manufacturing Processes


Manufacturers looking to optimize production processes are turning to overall equipment effectiveness (OEE) measurement and analysis in order to reduce lost production time and improve performance. OEE sheds light on the percentage of production time that is truly productive, using the latest advances in sophisticated measurement and analysis tools. Discover how OEE can help you increase efficiency and profitability.

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Bean Counter to Business Leader: 5 Strategies for the CFO


The role of the chief financial officer (CFO) is evolving, but due to pressures to meet financial reporting requirements, there’s still a strong pull toward “chief bean counter” responsibilities. But CFOs can find opportunities to become true business leaders. With help from technology, five key strategies can enable the CFO to have a significant impact on the direction and success of the business. Learn more.

efficient finance processes cfo  to do their job efficiently and can mean that your staff does not spend a month running around trying to find supporting documentation during an audit. This is also the kind of transparency that gives confidence to investors and gives your firm a reputation for solid and reliable financials. This doesn''t mean that you have to overhaul your entire data warehouse overnight and embark on a massive visibility project. Take small opportunistic steps first, looking for the measures that will make a noticeable Read More

Sage 100 ERP-an Energy-Efficient Solution for AM Appliance Group




efficient finance processes cfo  100 ERP-an Energy-Efficient Solution for AM Appliance Group Read More

Improving Profitability and Processes in Returns Management


Tellabs is a $1.3 billion (US) corporation that designs, manufactures, markets, and services optical networking, broadband access and voice quality enhancement. Tellabs was faced with a high volume and high cost product returns process. Improper documentation, lengthy processing times, and insufficient returns documentation was affecting customer service and limiting profitability. It worked with Click Commerce to implement their product returns application. The solution provides an efficient and transparent process, which allowed the business to be realigned for significant savings and improved customer satisfaction. The savings include reducing in-transit inventory by $1.76 million (USD) per month and reducing spare parts stocking levels from $7.5million to $1.9 million (USD).

efficient finance processes cfo  The solution provides an efficient and transparent process, which allowed the business to be realigned for significant savings and improved customer satisfaction. The savings include reducing in-transit inventory by $1.76 million (USD) per month and reducing spare parts stocking levels from $7.5million to $1.9 million (USD). Read More

FinancialForce Supply Chain Management: Manage Your Supply Chain Processes in One Unified App


Built on the Salesforce Platform, FinancialForce SCM helps manage a company’s entire supply chain processes from order to procurement and back to inventory, in a single closed-loop process. This application aims to improve efficiency in acquiring, managing, and selling goods and services, through visibility, automation, and control. This data sheet identifies some supply chain challenges and the functionality FinancialForce SCM offers to address them.

efficient finance processes cfo  Salesforce.com, cloud platform, supply chain management, cloud SCM, FinancialForce SCM, compare SCM solutions Read More

Best Practices and Processes for Improving the Business Value of IT


Understanding, measuring, and managing against return on investment of a company’s IT investment (ROIT) enables IT leaders to quantitatively frame their contribution to the business and justify initiatives they seek to undertake. Read about concrete practices, processes, and recommendations to drive ROIT investment via key areas for improvement, the value of improvement, and guidelines for evaluating potential projects.

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Finance as Analytical Partner to the Business


When major economies are constrained, business leaders find their growth engines stuck in low gear. At times like these, financial leaders need to collaborate more closely with their operations counterparts and drive precision in performance management.A 2012 survey by Bloomberg Businessweek Research Services analyzed the views of C-level and line-of-business executives around the world on the drivers of operational performance and the types of new information they are using or considering to improve their financial and operational performance. This research report provides insights, examples, and recommendations on how finance professionals can collaborate effectively with operating managers to find the right strategic edge.

efficient finance processes cfo  as Analytical Partner to the Business When major economies are constrained, business leaders find their growth engines stuck in low gear. At times like these, financial leaders need to collaborate more closely with their operations counterparts and drive precision in performance management.A 2012 survey by Bloomberg Businessweek Research Services analyzed the views of C-level and line-of-business executives around the world on the drivers of operational performance and the types of new information Read More

Adaptive Discovery: Accelerating the Deployment and Adaptation of Automated Business Processes


To automate processes, business users and IT must work together as a team. The combination of technology infrastructure, process flow, and business requirements all needs to be translated into a process map to enable automation to occur. This process discovery effort, and adjusting the process map to manage change, is the most significant challenge of business process management (BPM) projects.

efficient finance processes cfo   Read More

ITIL-Living Processes


The case company decided to carry out an information technology infrastructure library (ITIL) implementation, and in so doing hoped to make production in IT more visible, increase customer satisfaction, and maintain or increase employee satisfaction in IT. Implement Consulting Group facilitated the process selection and design and managed the requirement collection, selection, and implementation phases of the project.

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On the Road to Compliance: Linking Processes and Documents


The US Sarbanes-Oxley Act has significantly impacted budgets, personnel allocation, business processes, and documentation. But leveraging a technology solution can smooth the overall compliance process. By investing in a content-centric business process management solution, organizations can automate and improve their compliance. This leads to an effort that is more effective and more efficient, and that ultimately saves money.

efficient finance processes cfo  more effective and more efficient, and that ultimately saves money. Read More