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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 grc

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 grc

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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Managing Performance, Risk, and Compliance for Better Business Results


Confronted by globalization and volatile markets, today’s companies face a challenging and often risky business climate. Explore how to ensure alignment between your company's strategic objectives and risk management/compliance policies; how to mitigate all types of business risk and maintain a proper risk/reward balance; and how to ensure continuous compliance with regulatory requirements and internal policies.

efficient finance processes grc  the most effective and efficient ones. Test controls for key risks using a combination of monitoring for automated controls, testing for manual controls, and self-assessments. Schedule tests in alignment with the compliance calendar, report the results, and flag issues for remediation. Monitoring and remediating compliance issues in real time. Continuously monitor compliance as an inherent part of key business processes. Remediate identified issues and certify your results through formal audits and 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 grc  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

Workday Becoming a Global Financial Management Software Provider


In a slew of announcements at the recently held Workday Rising 2012 user conference, one major theme has been that Workday, the cloud software company that initially started with providing human resource management system (HRMS) and which later added payroll software, now has 40 financial management customers as well (10 percent of its customer base). Most recently, the roster of Workday Financial

efficient finance processes grc  provide greater and more efficient reach to different regions, divisions, and business units. Expanded reporting using Worktags on dimensions such as Division or Business Unit provides even more flexible real-time reporting for multinational organizations. Worktags are Workday’s means to provide organic multi-dimensionality. Worktags or financial dimensions, e.g., fund, project, etc., look like a tag cloud but have structure and data in them, not a mere taxonomy (see the  blog post for more Read More

Human Capital Management: How Top Organizations Drive Company Profits Efficiently


This benchmarking study analyzes human resources (HR) performance for over 200 best-practice companies in three categories: process and transactional support, expertise-based business support, and strategic decision support. Two questions are at the core of the study: How can companies reduce HR costs and increase HR efficiency? And how can HR organizations create business value and optimize effectiveness? Find out what they said.

efficient finance processes grc  (the most effective or efficient top performers ), average, and fourth quartile (the least effective or efficient bottom performers ). Analysis of both qualitative and quantitative measures allows inference of key findings and insights related to the drivers of top performance. Continuous participation in the program will allow companies to track their progress against internal and industry metrics on an ongoing basis. BALANCING EFFICIENCY AND EFFECTIVENESS A still common perception is that managing Read More

Supplier Portals: Insight into an Efficient Supply Chain


Manufacturers previously tracked suppliers and their deliveries of goods in a predictable method that often resulted in errors. For small to midsized suppliers eager to adopt more efficient communications with customers but lacking access to an EDI-compliant system, supplier portals are an alternative cost-saving solution. See how supplier portals add increased efficiency, quality, and transparency to the supply chain.

efficient finance processes grc  Portals: Insight into an Efficient Supply Chain Manufacturers previously tracked suppliers and their deliveries of goods in a predictable method that often resulted in errors. For small to midsized suppliers eager to adopt more efficient communications with customers but lacking access to an EDI-compliant system, supplier portals are an alternative cost-saving solution. See how supplier portals add increased efficiency, quality, and transparency to the supply chain. Read More

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




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

Why Cloud Computing Matters to Finance


This Institute of Management Accountants (IMA) paper explores the benefits of transitioning from an on-premise financials system to the cloud. The paper reviews research conducted among 800 IMA members regarding their perceived benefits and risks related to moving financials to the cloud, including drivers around total cost of ownership (TCO); anytime, anywhere access; easy upgrades; and business process improvement.

efficient finance processes grc  Cloud Computing Matters to Finance This Institute of Management Accountants (IMA) paper explores the benefits of transitioning from an on-premise financials system to the cloud. The paper reviews research conducted among 800 IMA members regarding their perceived benefits and risks related to moving financials to the cloud, including drivers around total cost of ownership (TCO); anytime, anywhere access; easy upgrades; and business process improvement. Read More

BPM Weaves Data And Processes Together For Real-time Revenues


Linking data to process is the realm of business process management (BPM). BPM's focus on process dramatically reduces the amount of data that needs to be moved, and thereby reduces both the initial cost and ongoing maintenance cost of application integration.

efficient finance processes grc  to application quickly and efficiently: the right data to the right application process at the right time. This data logistics framework is the hallmark of the RTE. Many organizations have found, however, that provisioning data contained in a vast, decentralized data infrastructure in support of the RTE is extremely impractical using conventional integration approaches. A quick look at these approaches illustrates why: Batch Data Transfer: The requirements of the RTE strain most batch data transfer Read More

How SharePoint Can Help Connect People, Processes, and Information


Microsoft SharePoint products and technologies are server applications that can provide organizations with an integrated solution for collaboration, content management, business processes, business intelligence (BI), enterprise search implementation, and portal development. Find out how SharePoint can meet your intranet, extranet, and Internet needs, and compare offerings for all levels and groups of users.

efficient finance processes grc   Read More

Rising to the Challenge: Productivity in Accounting and Finance Organizations


During these challenging times companies need to do more with less. This need extends throughout the organization-and companies' accounting and finance organizations are rising to the challenge. Know the most critical challenges faced by the CFO organization of companies in improving staff productivity and effectiveness of their operations according to research conducted by the Institute of Management Accountants (IMA).

efficient finance processes grc  to the Challenge: Productivity in Accounting and Finance Organizations During these challenging times companies need to do more with less. This need extends throughout the organization-and companies'' accounting and finance organizations are rising to the challenge. Know the most critical challenges faced by the CFO organization of companies in improving staff productivity and effectiveness of their operations according to research conducted by the Institute of Management Accountants (IMA). Read More

Finance Is Changing Fast, Can Your Apps Keep Up?


The finance field undergoes rapid changes—and financial organizations must be able to adapt to those changes at lightning speed in order to stay one step ahead of the competition. They must also be able to foresee customer needs and address them before them the competitors do, otherwise they risk losing their fickle clients.

Additionally, customers expect their financial institutions to be readily accessible at all times and for them to be able to conduct their financial transactions reliably 24/7. A lag in the performance of their mission-critical applications—such as investment and portfolio management, online banking, and claim processing software—can cost banks thousands of dollars every minute. Financial organizations must be able to prevent and attend to emerging issues early on before they progress and disrupt the entire business. IT teams must be able to meet these demands while facing challenges of increasing IT complexity, difficulty prioritizing, trouble pinpointing root causes, and understaffing.

Furthermore, stricter regulations regarding how financial institutions can store and transmit customer information and increased IT security threats from hackers worldwide have made it increasingly challenging and important to have continuous monitoring and effective management of mission-critical apps. The main problem of IT essentially has to do with lacking insight into the organization’s mission-critical apps. Read how financial institutions can use application performance management solutions to maximize performance, reduce bottlenecks, quickly troubleshoot problems, and proactively monitor applications.

efficient finance processes grc  Is Changing Fast, Can Your Apps Keep Up? The finance field undergoes rapid changes—and financial organizations must be able to adapt to those changes at lightning speed in order to stay one step ahead of the competition. They must also be able to foresee customer needs and address them before them the competitors do, otherwise they risk losing their fickle clients. Additionally, customers expect their financial institutions to be readily accessible at all times and for them to be able to conduct Read More

Improving the Effectiveness of Your Manufacturing Processes


Learn more about OEE in OEE: Monitor and Improve the Effectiveness of Your Manufacturing Processe.

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Pegasystems to Further Extend SAP ERP Processes


On December 4, 2012, Pegasystems (a.k.a. Pega), a prominent business process management (BPM) and customer relationship management (CRM) software solutions provider, announced its new Pega Process Extender offering. The product aims to enable organizations to leverage their SAP enterprise resource planning (ERP) applications with new work automation and user experience capabilities. Pega has

efficient finance processes grc   Read More