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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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Visit the TEC store to compare leading software solutions by funtionality, so that you can make accurate and informed software purchasing decisions.
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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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The Strategic CFO


Financial pressures can strain even the most efficient and lean company. So forward-thinking companies should now turn to the chief financial officer (CFO). The strategic CFO is equipped with the tools, plans, and fiscal philosophy that can transform the CFO’s role into a strategic business asset. Discover the processes that allow the CFO to break away from the old paradigm toward better financial and risk management.

efficient finance processes cfo  straining even the most efficient and lean organizations, forward thinking companies should now to turn to the CFO. A change in attitude about the value of the CFO, in fact, has been a long time coming. Whether an enterprise faces an economic boom or protracted downturn, the role of the CFO has been morphing. This flux reflects both greater CFO responsibility and corresponding more difficultly. This also translates into financial management that needs to generate real value in the enterprise. It will not 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

Finance Transformation and Routine Accounting: Enabling the Corporate Controller’s Role as a Strategic Contributor


The first role of the corporate controller has been to ensure corporate financial controls and—as a distant second—make strategic business contributions. But the installation of on-premise enterprise resource planning (ERP) and accounting software meant that controllers’ roles now involve financial software know-how. To achieve financial transformation, controllers need guidance and practical strategies. Learn more.

efficient finance processes cfo  HOW TO GET THERE Efficient and cost-effective finance processes that are dependable, risk adverse and consistent are always necessary for an enterprise to truly thrive. But in today’s economy, with mounting pressure for performance improvements, finance transformation is even more of an imperative for all businesses. The process of finance transformation is distinct for each enterprise. What will remain constant are the major elements that are a combination of redefined business processes, supplemental Read More

Building a Best-run Finance Organization: A New Role to Address Today’s Business Realities


One company executive has a growing influence in today’s boardroom—the chief financial officer (CFO). And the role of the finance organizations that these CFOs lead is expanding as well. Examine the changing role of the finance organization in today’s business environment, learn how your CFO can take on a more prominent role in defining company strategy, and find out how you can develop a best-run finance organization.

efficient finance processes cfo  saved by running an efficient organization to provide proactive insights that enable other lines of business to make informed decisions supporting the best interests of the entire company. Holistic processes that encompass every part of the business – and that facilitate communication between departments – are critical to ensuring that finance is integrated with these operational decisions. Finance, marketing, sales, and manufacturing must all work together, for example, to effectively determine Read More

Aligning Risk and Finance in Banks: From Theory to Practice


After the financial crisis, banks are changing the way that they look at risk and finance integration, and these types of projects have been prioritized again. However, the path to successful risk and finance integration is not simple, and banks face a number of technology and organizational challenges. To understand these problems better and banks' aims for risk and finance integration, read this report on a survey by Chartis Research that questioned risk and finance professionals on these subjects. The report uses the survey results and interviews to explore the best methods for firms to implement risk and finance integration.

efficient finance processes cfo  Risk and Finance in Banks: From Theory to Practice After the financial crisis, banks are changing the way that they look at risk and finance integration, and these types of projects have been prioritized again. However, the path to successful risk and finance integration is not simple, and banks face a number of technology and organizational challenges. To understand these problems better and banks'' aims for risk and finance integration, read this report on a survey by Chartis Research that Read More

Strengthening Business Processes through Rapid User Adoption and Workflow Learning


Knowledgeable users of enterprise applications can improve the efficiency of entire business processes, not just of their individual contributions. But first, employees must know how to use their enterprise software systems—and how their activities support larger processes. Effective workflow learning platforms address both needs, and ultimately enable users themselves to improve the processes that provide a competitive edge.

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The New Role of the CFO: from Bean Counter to Corporate Wizard


Find out in the new role of the cfo: from bean counter to corporate wizard.

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Inventory Pro: Efficient Inventory Management Solution




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SMB Finance and Accounting Checklist: What You Need to Consider Before You Buy


Making a list and checking it twice is a particularly good practice when picking a finance and accounting software solution. If you don’t find the right product for your company, you’ll just pay for the mistakes on the back end. But first you need to know which features your small to midsize business must have and which you don’t want. Get some tips that will help you create your finance and accounting checklist.

efficient finance processes cfo  Finance and Accounting Checklist: What You Need to Consider Before You Buy Making a list and checking it twice is a particularly good practice when picking a finance and accounting software solution. If you don’t find the right product for your company, you’ll just pay for the mistakes on the back end. But first you need to know which features your small to midsize business must have and which you don’t want. Get some tips that will help you create your finance and accounting checklist. Read More

10 Reasons to Use Storage Performance Validation Processes


From determining the best flash/SSD deployment strategy to ensuring a smooth private cloud migration, storage architects have a better way to ensure performance and optimize costs for their future storage products. Read this info brief on the top 10 reasons to adopt storage workload modeling.

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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

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.

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