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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 sap

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 sap

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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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 sap  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

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 sap  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

Best-of-breed Approach to Finance and Accounting


CODA's savvy accounting and financial offerings include budgeting, forecasting, scorecards, and tools that use Microsoft Excel spreadsheets collaboratively and securely. However, CODA must defend its narrow specialist and best-of-breed approach against larger-scale integrated enterprise system offerings.

efficient finance processes sap  the introduction of more efficient support options. This all must be done owing to its limited means when compared to many larger competitors. For instance, many of the competitors outlined above have significantly greater financial, technical, and marketing resources than CODA, and, since experiencing a deceleration in their core large enterprises business, these companies have refocused their marketing and sales efforts to the upper-middle market where CODA actively markets its products. Consequently, 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 sap  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

SAP Versus Oracle JD Edwards EnterpriseOne: Anatomy of a Decision


The answer may lie in the responses JD Edwards customers gave as to why they selected EnterpriseOneover SAP.

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Business Suite 4 SAP HANA: The New Simplified SAP


TEC's principal BI analyst Jorge Garcia delves into SAP’s recent release of SAP Business Suite 4 SAP HANA (SAP S/4HANA), one of the most important releases in years for SAP. A totally new SAP ERP suite especially designed to take full advantage of HANA, S/4HANA exploits HANA’s high performance and real-time capabilities, and promises to deliver tangible business and technical simplification, as well as a radical new design and user experience. But deployment may be tricky for some adopters, as S/4's HANA-based design challenges SAP's traditional platform independence.

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SAP Announces SAP Business Planning and Consolidation for the SAP EPM Unwired Platform


During the TechEd event in Las Vegas, SAP launched Business Planning and Consolidation 10.0 for the SAP EPM Unwired Platform, enabling users to gain access to a more extensive set of functionalities beyond the common exploration and analysis of information. This new offering is part of a series of mobile innovations planned by SAP last year for business intelligence, enterprise performance

efficient finance processes sap   Read More

SAP Releases Value Maps for Easier SAP Enterprise Support Navigation


SAP has announced SAP Enterprise Support value maps. The value maps are delivered via the SAP Enterprise Support Academy program, a dedicated portal with flexible entry points and aggregated views on learning assets and services content combining training, support, and deployment of best practices. They are an intelligent selection mechanism to help customers find the right services and tools.
efficient finance processes sap   Read More

SAP HANA-Curing Cancer (for real), and More


At the recent SAPPHIRE NOW and SAP TechEd event in November, SAP announced the next-generation SAP HANA platform. TEC Principal Analyst P.J. Jakovljevic was there and brings you all the details in this TEC Report. Download the report to get the latest developments to SAP HANA and how this platform can help companies gain insights into their business in real time, and may even help healthcare organizations cure cancer.

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SAP ERP


Through the SAP ERP platform, people in businesses around the globe are improving relationships with customers and partners, streamlining operations, and achieving significant efficiencies throughout their supply chains. Today, more than 17,000 companies in over 120 countries run more than 44,500 installations of SAP software.

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The "S" in SAP Doesn't Stand for Security (that goes for PeopleSoft too)


During the course of product evaluations for a customer, the Technology Evaluation Center has uncovered a potential security hole in SAP R/3's three-tier architecture. SAP has revealed that they expect the database or third party products to handle security between the application server and the database server. If the client does not take these extra measures, the master password for the SAP database instance travels over the network in the clear, and can be captured. PeopleSoft has the same issue.

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SAP to Become Leaner, Meaner and More Organized


SAP is reportedly planning a radical revamp of its software development operations in an effort to regain dominance of the North American business software market.

efficient finance processes sap  components it cannot develop efficiently in-house. However, this is a notable departure from its previous strategy and will require a significant mindset change. Incidentally, the new anticipated SAP units correspond with the strategic areas of Customer Relationship Management (CRM), supply chain management (SCM), and product lifecycle management (PLM). Ironically, these are also the product functionality areas where SAP has stumbled, particularly in the United States, where competition from more nimble Read More

SAP Becoming a (Legal) Polygamist


SAPMarkets, the US dot-com spin-off of German ERP leader SAP AG, is partnering with Commerce One to build and sell software for online trading exchanges. This announcement comes only a month after its partnership with Nortel Networks for CRM product offering. SAP, owing to this alliance, has a chance to put content behind its extensive recent advertising campaign for mySAP.

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Is SAP Stumbling? Perhaps.


Business applications market leader SAP reported a 43% drop in net income for its first quarter ended March 31, despite a 10% increase in revenue. In a separate announcement, SAP also said that Kevin McKay, head of SAP's U.S. operations, has resigned for personal reasons.

efficient finance processes sap  components it cannot develop efficiently in-house. However, this is a notable departure from its previous strategy and will require a significant mindset change. SAP should also carefully reevaluate its mySAP.com product migration strategy from current R/3 instances, in order not to alienate and disillusion its loyal customer base. mySAP.com has allegedly met resistance because SAP''s licensing model requires that existing customers re-license its R/3 software. Some customers may see this as only another h Read More