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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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 grc 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 » grc 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.

grc efficient finance processes  Processes to Extend | GRC Efficient Finance Processes | GRC Financial Processes Applications | GRC Standardizes and Integrates Financial Processes | GRC Organize Your Financial Processes | GRC Finance Department Processes | GRC Major Financial Processes | GRC Financial Processes Deliver Transparency | GRC Accelerates Financial Processes | GRC Integrate Administrative and Financial Processes | GRC Better Manage Financial Processes | GRC Continuous Process Improvement | GRC Process Improvement Read More

Human Capital Management: How Top Organizations Drive Company Profits Efficiently


This benchmarking study analyzes human resources (HR) performance for over 200 best-practice companies in three categories: process and transactional support, expertise-based business support, and strategic decision support. Two questions are at the core of the study: How can companies reduce HR costs and increase HR efficiency? And how can HR organizations create business value and optimize effectiveness? Find out what they said.

grc efficient finance processes  governance, risk, and compliance (GRC) ; supply chain planning; manufacturing; new product development and introduction; customer contact centers; warehouse management; trans- portation management; business intelligence and analytics; and total cost of ownership. If you are interested in participating in any of these efforts, or if you would like additional copies, please e-mail the ASUG/SAP Benchmarking and Best Practices Program at benchmarking@asug.com . ABOUT THE AUTHOR Katharina Müllers-Patel, PhD, 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.

grc efficient finance processes  net profits. From a GRC perspective, compa- nies can significantly lower their external audit fees and increase their internal audit efficiency, which can save them hundreds of thousands of dollars per year. Most also realize significant additional savings adding up to $1 million or more annually, thanks to improved compliance and operational processes. SAP is the world''s leading provider of business software. For more than 35 years, we have provided companies with robust financial management solutions Read More

Workday Becoming a Global Financial Management Software Provider


In a slew of announcements at the recently held Workday Rising 2012 user conference, one major theme has been that Workday, the cloud software company that initially started with providing human resource management system (HRMS) and which later added payroll software, now has 40 financial management customers as well (10 percent of its customer base). Most recently, the roster of Workday Financial

grc efficient finance processes  risk management & compliance (GRC), etc. Granted, Workday Financial Management might still be behind SAP, Oracle,  and  CODA Financials in terms of in-depth feature-by-feature comparison. But the attractiveness of Workday, in addition to its true cloud deployment and design concept with agility in mind, stems from the greater control to adapt and accommodate to new business requirements and processes, while reducing the level of IT support. Moreover, a consumer-driven, intuitive user interface (UI) Read More

Enterprise Performance Management: Financial Excellence and Beyond


Financial performance management—often categorized as one aspect of enterprise performance management—can help chief financial officers (CFOs) maximize their companies’ profitability, protect against non-compliance, and optimize efficiency by ensuring delivery of information when it is needed, in context. Learn more about a solution that can help you adapt to rapid business change and predict future financial performance.

grc efficient finance processes  governance, risk, and compliance (GRC) issues. They need new ways to maximize profitability which requires greater visibility into and control over the drivers of their organization''s finances and operations. Naturally, the CEO looks to the CFO to help solve these problems. As a CFO functioning in this new environment, your responsibilities include: Ensuring that the company is executing toward strategic goals Acting as strategic advisor to business management by providing analytical support and helping 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.

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ITIL Service Support Processes in Record Time


To establish optimal service and support conditions, the case company, Naviair, chose to adapt and implement information technology infrastructure library (ITIL) service support processes. During the process, Implement Consulting Group assisted with facilitation, ITIL input, and lean competences and tools. The existing procedures and instructions were combined with ITIL’s different service support areas.

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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.

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Energy-efficient Cooling for Data Centers: A Close-coupled Row Solution


Perimeter computer-room air handlers and central air-handling units have been used to cool data centers since the launch of the mainframe. But as rack power grew, air delivery and heat removal challenges appeared. Row-based designs address issues of proper heat removal and cold air supply—and bring energy-efficiency advantages. Learn more about row-based solutions and the benefits they can deliver to your data center.

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Finance Is Changing Fast, Can Your Apps Keep Up?


The finance field undergoes rapid changes—and financial organizations must be able to adapt to those changes at lightning speed in order to stay one step ahead of the competition. They must also be able to foresee customer needs and address them before them the competitors do, otherwise they risk losing their fickle clients.

Additionally, customers expect their financial institutions to be readily accessible at all times and for them to be able to conduct their financial transactions reliably 24/7. A lag in the performance of their mission-critical applications—such as investment and portfolio management, online banking, and claim processing software—can cost banks thousands of dollars every minute. Financial organizations must be able to prevent and attend to emerging issues early on before they progress and disrupt the entire business. IT teams must be able to meet these demands while facing challenges of increasing IT complexity, difficulty prioritizing, trouble pinpointing root causes, and understaffing.

Furthermore, stricter regulations regarding how financial institutions can store and transmit customer information and increased IT security threats from hackers worldwide have made it increasingly challenging and important to have continuous monitoring and effective management of mission-critical apps. The main problem of IT essentially has to do with lacking insight into the organization’s mission-critical apps. Read how financial institutions can use application performance management solutions to maximize performance, reduce bottlenecks, quickly troubleshoot problems, and proactively monitor applications.

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The Practical Realities of Automating ETO Business Processes


Today, engineer-to-order (ETO) manufacturers—also known as project-based manufacturers—experience significant market pressure across their sales, engineering and manufacturing groups as they strive to win business and streamline end-to-end processes. But by capturing engineering knowledge and using it to automate key business processes, manufacturers can increase sales bid and win rates, decrease internal operating expenses, and shorten lead times.

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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.

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What Does the Modern Finance Organization Look Like?


Modern finance executives are business driven and technology powered, making them valuable strategic business partners to the entire organization. Five key qualities help define a successful modern financial organization.

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