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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

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

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 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  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-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  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 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  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

Modern Finance In The Digital Age: Report and Comply Best Practices


In the era of big data, the traditional models for report and comply functions are becoming obsolete. But report and comply processes no longer have to be time consuming, frustrating, or fragmented. By consolidating systems and information across departments and divisions, enterprise resource planning (ERP) solutions via cloud technologies can help businesses modernize these processes, making the record-to-report cycle faster and allowing for data to be in the right hands and the right time. This synchronization of information via the cloud can streamline what used to be a long and complex process. Better business choices can be made by installing best practices for data governance, ensuring that the highest quality data is used and errors are avoided.

Increasingly, modern business models feature cloud technology as vital for present and future transactions, but best practices must also be installed to ensure success. In this white paper, read how to develop and refine report and comply best practices in the areas of general ledger accounting, the financial close, management reporting, and external reporting. Learn how the standard of real-time decision making is being challenged and replaced by a more forward-thinking, data-driven idea of “right-time” decision making, and the importance of streamlining report and comply functions. By using best practices and technology together, learn how to modernize and hone these processes to develop a more efficient strategic process that allows tasks to occur simultaneously, allowing everyone to have the same access to information, reduce errors, and eliminate overtime.

efficient finance processes  to develop a more efficient strategic process that allows tasks to occur simultaneously, allowing everyone to have the same access to information, reduce errors, and eliminate overtime. Read More

Going Beyond Process Modeling—Part 1: Why Do We Manage Processes?


Business process modeling is a recognized practice in describing, analyzing, and improving business operations. In many organizations, the model itself is the end product that communicates the business process to stakeholders; however, significant benefits can be realized by moving beyond process modeling to process automation.

This paper provides an overview of the current state of process modeling and automation practices and technologies, and outlines the drivers and benefits of moving beyond simple process modeling to more comprehensive automation and management.

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SAP Ushers In Simple Finance on HANA Enterprise Cloud


At its SAPPHIRE NOW 2014 mega conference, SAP declared war on complexity, in many ways. One example is the introduction of SAP Simple Finance, a set of solutions rewritten for simplicity within global finance departments.

efficient finance processes  Ushers In Simple Finance on HANA Enterprise Cloud At its SAPPHIRE NOW 2014 mega conference, SAP declared war on complexity, in many ways. One example is the introduction of SAP Simple Finance , a set of solutions rewritten for simplicity within global finance departments. SAP has reportedly worked closely with customers to identify the most complex tasks in finance and make them simpler to consume and perform. The result is SAP Simple Finance, based on SAP HANA in SAP HANA Enterprise Cloud under a Read More

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

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6 New Rules: Winning Finance Talent in the Digital Age


The data deluge is changing how finance departments analyze and utilize the massive amounts of information they collect. For businesses to be competitive in the 21st century, they must fill their finance departments with people who have more than an accounting background. This infographic looks at six approaches to winning and managing finance talent.

efficient finance processes  New Rules: Winning Finance Talent in the Digital Age The data deluge is changing how finance departments analyze and utilize the massive amounts of information they collect. For businesses to be competitive in the 21st century, they must fill their finance departments with people who have more than an accounting background. This infographic looks at six approaches to winning and managing finance talent. 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  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

Financial Fusion ~ E-Finance Wireless Leader?


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Aligning a Manufacturing Vision with Processes through Mixed-mode ERP


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Outsourcing Supply Chain Planning Processes


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efficient finance processes  which are performing less efficiently than processes a leading outside provider could deliver, are typically the best candidates for business process outsourcing. This corresponds to the low performance-low strategic importance quadrant of the graph above. Payroll and accounts payable are prime examples of processes that fall into this category for many companies. The customer typically does not see or interact heavily with these processes. On the other hand, outside providers have the scale and expertise Read More

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Customer relationship management (CRM) issues can often be traced to ineffective processes involving human communication. But you can overcome the limitations of marketing, sales, and service processes. With communication-enabled business processes—powered by communications systems integrated with business applications—you can have more visibility into interactions and improve your end-to-end performance. Learn more.

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efficient finance processes  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