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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 it

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


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efficient finance processes it  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, whi Read More

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