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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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 finance department 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 » finance department processes

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.

finance department processes  some time for their finance department to overcome the effects of those resource constraints, the finance executive says, because Sarbanes-Oxley forced the finance team to lessen its role guiding operations management in strategic decisions and moved it into a more nuts-and-bolts control function, a move that he says has been a point of contention. Other finance executives working for U.S. public compa- nies also say the Sarbanes-Oxley compliance require- ments have reduced their abilities but not Read More

The Case for Integrated Processes


Most chief executive officers (CEOs) have developed strategies that push their companies to achieve certain goals. So why are so many companies failing to achieve these goals? Because their twenty-first century vision is being held back by twentieth century processes and IT systems. The missing ingredient: information. And the key to facilitating the flow of information lies in integrated processes.

finance department processes  acquisitions and has redeployed finance and HR personnel to more value-added work, while making improvements in payroll processing and reducing hardware and operating system platform costs. A global manufacturing company achieved significant time savings in transaction-based processes by an average of between 45 and 65% (or between 4.50 and 9.00 per transaction). With an expected annual volume of approximately 30,000 transactions per integrated process, the company believes its investment in integrated Read More

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.

finance department processes  Your Financial Processes , Finance Department Processes , Major Financial Processes , Financial Processes Deliver Transparency , Accelerates Financial Processes , Integrate Administrative and Financial Processes , Better Manage Financial Processes , Continuous Process Improvement , Process Improvement Qualifications , End-to-end Processes for Financial . Contents Preface Introduction About the survey What the executives are saying Impact on decision-making What to keep in mind Conclusion Preface Managing 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.

finance department processes  day can cost a finance department many days of labor. Period-end closing is a collaborative process of questions and answers, of confirming detailed information, and of individuals collaborating to arrive at the answer and generate a picture of numbers about the organization''s current financial situation. Every organization in the world has to address this, and they all have different processes; often, financial processes across corporations vary due to merger and acquisition activity, which has absorbed 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.

finance department processes  to the CFO, the finance function could achieve all other strategic objectives. In Phase One, the company standardized and established new processes to reconcile bank accounts daily, concentrate cash, determine a final number to borrow or invest each day, improve control, enhance accuracy, and pare down the number of full-time equivalents (FTEs) involved in the function. In another development, global vendor payments were integrated with the bank payment systems, and customer receipts posted to the Read More

Empowering Modern Finance: The CFO as Technology Evangelist


Modern finance is service-oriented and committed to operational excellence. Modern finance leverages analytical expertise to provide management with data-driven insight and forward-looking guidance. This report explores how modern CFOs and finance executives are adopting emerging technologies within their finance functions to enable the development of new capabilities and to transform the role of finance.

finance department processes  as Technology Evangelist Modern finance is service-oriented and committed to operational excellence. Modern finance leverages analytical expertise to provide management with data-driven insight and forward-looking guidance. This report explores how modern CFOs and finance executives are adopting emerging technologies within their finance functions to enable the development of new capabilities and to transform the role of finance. Read More

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.

finance department 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

Retalix Acquires a Provider of Store Systems for Top Tier Department Stores


Retalix' acquisition of Cornell Mayo Associates is symptomatic of the current trend of acquisition and consolidation in the retail marketplace (just look at RedPrairie’s four recent acquisitions in this area). This is a fast-changing marketplace, with retailers looking for broader solutions and less interested in multiple point solutions. Predicting how this merger will go is tricky, but in

finance department processes  Acquires a Provider of Store Systems for Top Tier Department Stores Retalix'' acquisition of Cornell Mayo Associates is symptomatic of the current trend of acquisition and consolidation in the retail marketplace (just look at RedPrairie’s four recent acquisitions in this area). This is a fast-changing marketplace, with retailers looking for broader solutions and less interested in multiple point solutions. Predicting how this merger will go is tricky, but in general I think it has to be a good Read More

On the Road to Compliance: Linking Processes and Documents


The US Sarbanes-Oxley Act has significantly impacted budgets, personnel allocation, business processes, and documentation. But leveraging a technology solution can smooth the overall compliance process. By investing in a content-centric business process management solution, organizations can automate and improve their compliance. This leads to an effort that is more effective and more efficient, and that ultimately saves money.

finance department processes   Read More

FinancialForce Supply Chain Management: Manage Your Supply Chain Processes in One Unified App


Built on the Salesforce Platform, FinancialForce SCM helps manage a company’s entire supply chain processes from order to procurement and back to inventory, in a single closed-loop process. This application aims to improve efficiency in acquiring, managing, and selling goods and services, through visibility, automation, and control. This data sheet identifies some supply chain challenges and the functionality FinancialForce SCM offers to address them.

finance department processes  Salesforce.com, cloud platform, supply chain management, cloud SCM, FinancialForce SCM, compare SCM solutions 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.

finance department processes   Read More

Working Together More Efficiently: Mapping Out the Company’s Business Processes


Enterprises must collaborate or they will surely stagnate. Guarded proprietary information has given way to collaborative approaches where information is shared both inside and outside the enterprise’s walls. To survive, an enterprise must be flexible enough to collaborate externally with suppliers and partners while fostering the same environment with its employers.

finance department processes  Management: insight into your finances Financial management component acts as your company''s financial control room. This functional component is as powerful as it is multi-faceted, providing you with the instruments necessary for the consolidation and analysis of financial information, and comparisons of budgets and analysis against actuals. Every financial transaction within the organization is recorded in an extended ERP solution''s central database and is directly available for online reporting and Read More

Leupold & Stevens Re-engineers Business Processes with Oracle


Howard Werth, CFO at Leupold & Stevens, tells how this midsize company used the best-practice business flows in Oracle Business Accelerators in a complete reengineering of their business processes and related IT systems.

finance department processes   Read More