X
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 solutions by funtionality, so that you can make accurate and informed software purchasing decisions.
Compare Now
 

 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. 

Start Now

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.

efficient finance processes  Processes , Consolidated and Efficient Finance Processes , Webcast Financial Process Automation , Optimising Your Financial Processes , Future of Financial Processes , Pay and Financial Management Solutions , Connection Financial Processes , Ease Financial Processes , Discover Easy-to-Use Solutions , Financial Processes to Extend , Efficient Finance Processes , Financial Processes Applications , Standardizes and Integrates Financial Processes , Organize Your Financial Processes , Finance Department 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

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  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

The Anatomy of Retail Sourcing Processes


The most successful retailers are those that continually focus on driving the very best performance from each of their suppliers, and that work collaboratively to improve performance in areas such as on-time delivery, product quality, and regulatory compliance.

efficient finance processes  retailing,global sourcing,supplier management,private label business,costs of goods sold,COGS,design brief process,sourcing brief process,supplier brief process,quoting process,stock-keeping unit,SKU,advanced shipping notices,ASN,distribution center 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.

efficient finance processes   Read More

GlassCell Isofab: Integrating Processes to Improve Visibility and Control


GlassCell Isofab Inc. offers diverse products, from glass fiber to mineral fiber and sound-deadening metal, and operates eight distribution and manufacturing facilities in Canada. After a merger, the company decided to standardize and unify its business processes. See how this SAP® Business All-in-One solution helped GlassCell get an integrated view of the business and more easily scale and adapt to meet changing needs.

efficient finance processes  SAP,GlassCell Isofab Inc.,erp,enterprise resource planning,sap business all-in-one,enterprise resource planning erp,enterprise resource planning system,what is enterprise resource planning,enterprise resource planning solution,enterprise resource planning definition,erp applications,manufacturing enterprise resource planning software,small business erp,enterprise resource planning erp systems,erp for small business Read More

Implementing Document Workflow Processes


Any process that takes place involves workflow. Whether that process is limited to a single individual or multiple people, a series of steps is completed during the workflow process. How can you streamline the document workflow process? Review workflow related to document processes in a business environment and discover improvements that can enhance the efficiency of these processes using document management technology.

efficient finance processes   Read More

Ultimus Case Study: Optimized Customer Fulfillment with Automated Processes


Bernstein AG, established in 1947 and headquartered in Porta Westfalica (Germany), builds and sells components and systems for industrial automation peripherals. In 2002, it began the task of selecting and implementing a flexible, web-based business process management (BPM) system. One of the most important technical requirements was the universal integration of the BPM suite into its existing IT infrastructure.

efficient finance processes   Read More

Winning the War for Finance Talent: Game Plan for the Digital Age


Big data is changing finance at every level. To be competitive, businesses must harness finance talent armed with skills beyond pure accounting. Consensus building, collaboration, communication, flexibility and other soft skills are also required. This infographic looks at six ways to modernize your finance department.

efficient finance processes  the War for Finance Talent: Game Plan for the Digital Age Big data is changing finance at every level. To be competitive, businesses must harness finance talent armed with skills beyond pure accounting. Consensus building, collaboration, communication, flexibility and other soft skills are also required. This infographic looks at six ways to modernize your finance department. Read More

Are Your Business Processes Holding You Back?


Using cobbled-together tools to operate a professional service organization is increasingly costly and directly affects revenue. Monetary waste, operational redundancies, and poor customer service experience often occur when critical departments and individual team members lack alignment. Stand-alone tools, databases, and worksheets are rapidly becoming a liability for project-centric businesses like management and business consulting firms, IT services and systems integrators, software-as-a-service (SaaS) companies, and research and development companies.

This white paper looks at 5 reasons for professional services firms to integrate sales, service, and finance into a single cloud solution.

efficient finance processes  Your Business Processes Holding You Back? Using cobbled-together tools to operate a professional service organization is increasingly costly and directly affects revenue. Monetary waste, operational redundancies, and poor customer service experience often occur when critical departments and individual team members lack alignment. Stand-alone tools, databases, and worksheets are rapidly becoming a liability for project-centric businesses like management and business consulting firms, IT services and 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  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

Driving Better, Faster Decision Making through Finance


Software can’t tell you how to beat the competition, but it can determine which products and services have the greatest profit margin, who are the most productive employees, or how investments are impacting the bottom line. Knowing that information helps you make the right decisions. This report addresses how finance can create an accurate, actionable 360-degree view of your company

efficient finance processes  Better, Faster Decision Making through Finance Software can’t tell you how to beat the competition, but it can determine which products and services have the greatest profit margin, who are the most productive employees, or how investments are impacting the bottom line. Knowing that information helps you make the right decisions. This report addresses how finance can create an accurate, actionable 360-degree view of your company 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  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