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Looking for an accounting and financial solution? This report can help you spot trends in the accounting and financial software space. See what your peers and competitors are looking for in those solutions, so you can develop a good understanding of what accounting and financial software vendors offer, what other companies have identified as important requirements, and what functionality might be a good fit for your company.
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UNIT4's Coda Financials (V12) is now TEC Certified for online evaluation of Financial Packages solutions in the Accounting and Financial Management Evaluation Center. The certification seal is a valuable indicator for organizations relying on the integrity of TEC research for assistance with their software selection projects. Download this report for product highlights, competitive analysis, product analysis, and in-depth analyst commentary.
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Three kinds of messaging need to be supported in Single Dealer Platforms (SDPs) in investment banking: real-time for quote distribution, persistent for order flow, and streaming over the web to rich internet applications. It has historically taken three separate messaging products to meet these needs, but the implementation and integration of these systems introduces many challenges, including the complexity and fragility of the system and scalability issues. This white paper shows how an integrated messaging platform that handles all of the messaging requirements for SDPs reduces these challenges while increasing flexibility and robustness.
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Irrespective of technology and choice of deployment method, companies must remain versatile in their strategies and operations to stay competitive. This report takes a look at one financial solution that enables the financial executive to have a no-compromise approach to financial modeling and applications choice; i.e., adding, keeping or changing business applications without losing control or increasing the risk of non-compliancy.
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This white paper features insight about the issues facing companies that need an adaptable financial system but not necessarily a full-blown enterprise resource planning (ERP) solution. Also featured in this white paper: suggestions for identifying financial system functionality that will support your organization’s changing processes, and a descriptive checklist for soliciting such information.
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The Cincinnati Zoo, a nonprofit 100-acre facility featuring more than 500 animals, needed to reduce its cost and increase revenues from sources such as admissions, memberships, and food and merchandise purchases. The problem was data. The zoo chose IBM Cognos BI analytics to create a more satisfying customer experience—while cutting marketing costs, increasing new visits, boosting concession revenues, and much more.
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In late 2009, Concept One, a sports, entertainment, and fashion accessory firm, decided it needed a better way to deliver reporting to its managers. Report building had become a distraction for the IT department, preventing it from helping other lines of business. Also, it sometimes took several days to fulfill a request for a custom report. Read how this firm achieved an 866% ROI in two months using IBM Cognos Express.
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See how a yacht chartering company can analyze its revenue and reservations using interactive dashboards.
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During these challenging times companies need to do more with less. This need extends throughout the organization-and companies' accounting and finance organizations are rising to the challenge. Know the most critical challenges faced by the CFO organization of companies in improving staff productivity and effectiveness of their operations according to research conducted by the Institute of Management Accountants (IMA).
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QuickBooks is highly respected as the world’s most popular accounting system, with more than 4.5 million users. Indeed, QuickBooks provides an excellent solution for smaller companies. However, growing companies will eventually outgrow the database performance and feature set offered by QuickBooks. This white paper provides guidance in case this happens to you.
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After the recent global recession, companies are shifting their focus to growing top-line revenues and market share through strategic initiatives. Upgrading to the latest E-Business Suite release may be part of that strategic plan. This whitepaper is intended to highlight the benefits that may be realized through an upgrade to or implementation of Oracle E-Business Suite Financials Release 12.1.
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In late 2011, SNK Canada was engaged to help a sports management client select operations, accounting, and IT management software to replace a legacy system. The client was suffering productivity losses, and the cost of the legacy software was a growing concern. Learn how Technology Evaluation Centers (TEC) helped SNK Manage the complexities of the project, so SNK could quickly identify the right system for the client.
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Westminster Saving Credit Union (WSCU) is one of Canada’s largest credit unions, with 12 branches, 50,000 members and more than $2.1 billion in assets. To meet its rigorous accounting and financial reporting needs, WSCU migrated from Sage PFW ERP to Sage ERP MAS 500 based on the advice of business partner The Answer Company. Download this case study to learn about the benefits WSCU realized after the transition.
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Expense management in the legal sector can be complex and burdened with problems. Expense errors in claims sent to clients can not only result in time being spent in sorting out resulting issues, but can also impact the trust between the client and firm. Legal firms must ensure expenses are dealt with accurately, effectively, and in a timely manner. Download this paper for Quocirca’s recommendations for a chosen system.
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Organizations seeking the services of a value-added reseller (VAR), channel partner, implementer, vendor, or consultant require an evaluation of what this service provider has to offer. This report will assist organizations looking to determine the best-fit service provider for their implementation needs. Based on information provided to TEC by The Answer Company and its clients, this report focuses on real-life implementation projects delivered by the service provider to three of its existing clients.
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Expense management automation (EMA) solutions are critical components in an organization’s business strategy, and the right solution can provide both immediate and long-term cost savings. EMA dramatically cuts the cost of processing expense reports while increasing employee satisfaction by improving operational efficiency, shortening reimbursement cycles, and ensuring compliance. This report provides details on the many benefits and choices for deploying an EMA solution at your organization.
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Lean manufacturing initiatives and strategies can also be effectively applied toward a business’s largest controllable expense: its workforce. This paper examines lean manufacturing workforce management initiatives, the opportunities and benefits they provide, and the enterprise applications available to manage and support them.
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The by-product of a changing economy, increasingly mobile and remote workforces are fueled by the proliferation of high-speed networks. This white paper outlines how to best manage a rapid transition to work environments that support a global, mobile, and remote workforce, making the best of their skills and maintaining their identification with the organization, its culture, and its goals.
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Unlike legacy strategies such as cost-plus, historical-based, and volume-driven pricing, which tend to decrease price premiums and profits over time, value-based pricing optimizes pricing structure for current market conditions. It can also accommodate market changes without loss of profit. Value-based pricing is a strategic tool to be championed by the executive suite and business unit leads. This paper outlines the elements of a successful value-based pricing strategy.
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Organizations seeking the services of a value-added reseller (VAR), channel partner, implementer, vendor, or consultant require an evaluation of what this service provider has to offer. This report will assist organizations looking to determine the best-fit service provider for their implementation needs. Based on information provided to TEC by GMS Accounting Management Software (GMS) and its clients, this report focuses on real-life implementation projects delivered by the service provider to three of its existing clients.
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When food manufacturer Unigate (now Uniq plc) embarked on a multi-million–pound plan to update the manufacturing and financial systems at its factories in the United Kingdom, it needed a system that would provide flexibility in production without loss of efficiency. The company chose Solarsoft’s Tropos ERP, which was particularly strong on recipe management—the core of Uniq’s business. Read about Uniq’s benefits with Tropos.
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Financial business process professionals need to coordinate financial process life cycle activities in order to enhance the value of information within the business, and drive better execution of compliance measures. But too often, automation and integration gaps discourage their efforts. Download this report to learn how to integrate and automate these activities, and improve your ability to make strategic and tactical decisions.
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Pricing initiatives are complex and difficult to implement, and need a thorough understanding of cost and related data. Most organizations turn to external pricing strategy consultants who, more often than not, steer them in the wrong direction. Rather than turning to these external consultants, organizations can follow certain steps to keep the task of pricing in-house. Find out what they are.
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The Sunshine Act has prompted life science companies to look at alternatives to their expense reporting processes. The output to HHS is required to be electronic, searchable, and easily downloaded. A solution that supports these requirements from the initial input step of the process provides proactive control and management of the data—and of the direct marketing process as a whole.
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The Proximity Hotel in Greensboro, North Carolina, is the first hotel in the US to receive Leadership in Energy and Environmental Design (LEED) certification at the platinum level from the U.S. Green Building Council. Combining luxury with energy efficiency and environmental sustainability, the hotel places the highest priority on guest comfort. The owner's goal is a sustainable, energy-efficient hotel that never compromises guest comfort. Learn more now.
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This white paper identifies the five telltale signs that your business has hit the limits of QuickBooks (or perhaps already outgrown it), the business process inefficiencies caused by running a fast-growing business on limited bookkeeping software, and the hard benefits that businesses have experienced by making the jump from QuickBooks to a complete Web-based business management software suite.
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Based on the findings of a worldwide survey of more than 1,000 executives, one of the key strategies for becoming a truly global player is creating a global operating model supported by a foundation of integrated financial, human capital management (HCM), and other business applications. Find out why integrated financial and HCM applications are crucial if large and midsize companies are to emerge as truly global players.
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In 2007, CFO Research Services published The Superstar CFO, a study documenting the attributes of highly successful chief financial officers (CFOs). Since then, the world has been shaken by financial, political, and natural upheavals that have altered the economic landscape. This report explores how these changes may be affecting companies’ efforts to transform corporate finance into a value-added partner to the business.
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Security Information and Event Manager (SIEM) users face the pressure of high costs related to the selection of a SIEM product, its deployment, integration and day-to-day use. Such cost pressure stems from substantial initial cost of the product, additional expenses for specific hardware and third-party product licenses, etc. In the end, what was initially considered as an affordable price for the chosen SIEM solution may turn out to be a large hole in the budget with an enormous total cost of ownership. Download this white paper to learn different approaches for resolving them successfully.
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Of the 30 billion invoices sent and received in Europe every year, more than 90% are in paper format. This is not only labour intensive and error prone, but comes at both a financial and environmental cost. Such manual operations slow invoice reconciliation, leading to poor relationships with suppliers and buyers and, potentially, poor cash flow management. This paper discusses the challenges posed by inefficient manual invoice processes, the need for e-invoicing, and how an organization can focus on its core business by handing over invoice processing to a managed service provider.
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Depending on the size and type of your business, your enterprise resource planning (ERP) solution may touch every department from accounting to warehouse management (WM). That can make it difficult to select the right solution for your company. But there are three critical modules an ERP system must have in order to deliver basic ERP benefits to any company, regardless of size or industry. Find out what they are.
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A new breed of cloud computing solutions has emerged to address businesses’ real-time financial management needs. Research shows that these powerful and flexible solutions are gaining widespread adoption across nearly every application category, including financial management. Download this report to learn more about how cloud-based financial management solutions are responding to the growing needs of small and mid-sized organizations.
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A good financial and accounting system should propel your business forward. It should give you the specific insights you need to spot the storms ahead, help you maximize resources with streamlined processes, and be nimble enough to help you navigate the changing currents of today’s business environment. Download this white paper to make sure you have the facts straight about what to look for—and what to look out for.
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One of the most basic business axioms, held dear by all firms but especially small companies, is that cash flow is king. Customer payments are essential for fueling all other business activity, from staff salaries, to raw materials, to rent. Growing firms need to be especially attentive to cash flow because sales increases typically require new investments associated with product or service production before payments are received. Learn more now.
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Too often, finance professionals must contend with outdated financial and accounting systems that present spiraling overhead costs, functional limitations, and unnecessary risks. And that makes it challenging for them to respond to complex business issues such as frequent regulatory change and increased compliance challenges--as well as requirements for visibility across multiple entities, currencies, and tax and regulatory frameworks. Download this buyer guide for a comprehensive overview of how cloud computing can help, including a handy chart comparing software delivery models and vital tips for evaluating cloud solutions for finance and accounting.
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Oracle JD Edwards EnterpriseOne (v. 9.0) is now TEC Certified for online evaluation of discrete enterprise resource planning (ERP) solutions in TEC's ERP Evaluation Center. Download this report for product highlights, competitive analysis, product analysis, and in-depth analyst commentary.
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Epicor ERP Software System (v. 9.05) is now TEC Certified for online evaluation of enterprise resource planning (ERP) solutions for small to medium businesses (SMBs) in TEC's ERP Evaluation Center. Download this report for product highlights, competitive analysis, product analysis, and in-depth analyst commentary.
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In this spotlight report, TEC Research Analyst Aleksey Osintsev examines GMS Accounting and Financial Management System, which was specifically designed for not-for-profit organizations. Learn all about GMS’s customers and marketing positioning, and how the software addresses the challenges for not-for-profit accounting. Also featured is a high-level overview of GMS Accounting and Financial Management System functionality.
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CIBS is a thriving business providing commercial cleaning, pest control, and washroom services to offices, schools, and the retail and leisure industries that needed to automate its manual, paper-based processes and better control day-to-day contract performance. Read about how this company chose SAP solutions and services, enabling it to double the size of its business.
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The administration and management of printing can be time-consuming, often relying on manual processes. Many businesses are rethinking their approach to managing the print environment, by either adopting a managed service or implementing centralized print management tools. This can ensure the high availability, reliability and manageability of printing resources, while leaving IT staff free to focus on core activities.
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To effectively track and forecast your company’s financial performance, you need up-to-date and reliable financial data. As your business grows and diversifies, you need to maintain liquidity and manage cash flow and profits. Integration of your business transactions and operational data with financial data makes this possible, and helps you eliminate departmental silos and streamline your business operations.
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Universities and other higher education establishments have to address the need for savings across the board. One area is expenses from faculty members and other associated with faculty. The complex mix of expense types needs a flexible yet solid means of managing spend as close as possible to the point of expense that encourages the individual to participate in the process without it being seen as an imposition. Know how.
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Balancing employee requests for keeping mobile channels open, while getting the right level of work and commitment from them, should not be left to chance. All organizations need to fully understand their employees’ mobile usage and behaviors to be able to put appropriate policies in place to ensure business requirements are met while acceptable personal use is still enabled. Read this white paper to know how to do this.
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Managing mobile costs is a challenge for all organizations and becomes more complex and problematic for those organizations spanning across countries or using multiple suppliers within one country. Getting to grips with these costs in a way that does not undermine the value of mobile flexibility is paramount, and organizations need to gather sufficient detail to effectively manage and analyze their mobile costs. See how.
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Companies must meet GRC criteria defined by internal and external policies, as failing to do so can have business and legal consequences. Although management of travel and entertainment (T&E) expenses is often seen as being of low importance for overall GRC, poorly managed T&E can lead to unforeseen issues with long-term business impact. See why using an external T&E management provider is the best way to adhere to GRC.
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The managed print services (MPS) market continues to evolve as vendors expand their service offerings beyond the office print environment. Today the business agenda is broader, and MPS must provide a route to business transformation as well as cost efficiency. Businesses thus must place their transformational goals on the agenda at the start of an MPS engagement. See what major MPS providers have to offer to your business.
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The Institute of Internal Auditors (IIA) recently released the Global Technology Audit Guide (GTAG) 14: Auditing User-developed Applications. Read how the Prodiance Enterprise Risk Manager (ERM) suite of user-developed application (UDA) software tools and related professional service offerings enable organizations to fully comply with IIA’s guidelines for identifying, risk ranking, testing, and controlling critical UDAs.
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Banks have progressed farther than companies in many other industries in automating financial processes and have more to lose from inefficient processes, facing intensified regulatory compliance. Effective governance, risk, and compliance (GRC) initiatives can multiply efficiency advantages of more conservative automation efforts while providing accurate, timely insight into the entire financial picture of the enterprise.
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Fabricated metals companies need to create a competitive advantage around their core competencies, demonstrated by their ability to respond quickly to change, efficiently manage relationships with suppliers, and deliver quality products on time. Read about a solution that provides these companies with transparency and control over their entire business, empowering them to respond immediately to issues and opportunities.
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Portfolio management provides insight into what is the best way to distribute resources among the various innovative options/projects to ensure that a maximum yield is realized against acceptable risks; there is a good fit between the projects and the various strategic themes; and there is a good mix between the various types of projects. Read this paper to learn about the different approaches used n portfolio management.
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A leader in the design and manufacture of advanced lighting systems and rugged protective cases, Pelican Products Inc. is also recognized as one of the fastest growing companies in the United States. Learn how, by consolidating its worldwide operations on a single instance of an enterprise resource planning (ERP) application, Pelican gained greater operational transparency and established a platform for continued growth.
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TEC's online software comparison system, TEC Advisor, is designed to help you make sense of the massive amount of information you'll gather during your selection project. One leading enterprise software consulting firm decided to put TEC’s technology to the test, to help a client replace its legacy financials system. The result? An objectively chosen best-fit financials solution—a mere two and a half months after project kick-off.
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After 20-plus years in service, and with few changes to its original design, Reid and Wright’s legacy accounting system had become slow, unreliable, and expensive—requiring a variety of manual processes and custom software just to keep it running—and keep the company competitive. Find out how TEC helped Reid & Wright find a best-fit solution to support the unique requirements of the lumber industry.
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This white paper features insight from the UNIT4 group about issues facing companies that need an adaptable financial system but not necessarily a full-blown enterprise resource planning (ERP) solution. Also included are TEC’s suggestions for identifying financial system functionality that supports your organization’s changing processes, and a checklist for soliciting such information about enterprise software solutions.
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It doesn’t make sense to buy software based on price alone. Selecting a specific preferred vendor or spending as little as possible is the wrong choice if people will not use the purchased product and it winds up as “shelfware,” or if it hampers productivity and is an ongoing drain on resources. Learn the five questions financial professionals should ask before choosing a financial performance management (FPM) solution.
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Executives are placing greater demands on the finance department—and the chief financial officer (CFO) —to provide an accurate picture of the financial health of the enterprise, offer insight into how emerging shifts in key market factors will affect the organization, and establish timely scalable measures of corporate performance that align across functions. Learn how BI solutions can help finance departments deliver.
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In late 2004, the senior management team of the Huntsman Corporation, a global manufacturer of chemical products, identified an opportunity to both prepare the company for compliance with Sarbanes-Oxley and achieve cost reductions. Learn how the company selected a new financials solution that helped it reduce audit fees, avoid headcount additions, improve productivity, and create an enterprise-wide analytics platform.
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Sales and operations planning (S&OP) is the key integrated process that the supply chain organization (specifically the vice president of supply chain) can use to achieve visibility across the entire organization and the value chain. This white paper highlights the results of over 220 companies participating in a survey on S&OP initiatives, and compares the views of the supply chain and finance organizations.
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Many US companies find themselves acting like “Wait-and-See, Inc.” They interpret the switch from US Generally Accepted Accounting Principles (GAAP) to IFRS as a matter of compliance rather than an opportunity to become more globally competitive by improving key internal processes. But transitioning to IFRS offers many benefits beyond compliance. Find out what those benefits are, and how your company can harness them.
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For job shop manufacturers, managing several different software systems to perform the various necessary tasks important to a business is no longer a viable option. Learn why a business system that integrates business process workflow, inventory, customer service, quoting, invoicing, accounting, and analytics, and that can expand onto the Internet, all using one software system, is crucial in today’s competitive market.
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Oracle E-Business Suite (12.1) is now TEC Certified for online comparison of financial packages in TEC's Evaluation Centers. The certification seal is a valuable indicator for organizations relying on the integrity of TEC research for assistance with their software selection projects. Download this report for product highlights, competitive analysis, product analysis, and in-depth analyst commentary.
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Burdened by reporting and tax compliance issues with its legacy financials system, Duke Corporate Education (Duke CE) needed a replacement solution to support its structure of international subsidiaries, and address multicurrency operations and intercompany transactions. Learn how Technology Evaluation Centers (TEC) helped Duke CE accurately define its requirements, and develop a detailed and efficient project plan.
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The State of Wyoming’s IT organization and its customers were struggling with a mainframe-based chargeback system. For IT, productivity and interface complexity were the major problems. For client agencies, it was a lack of actionable information in billing reports. Learn how a new solution provided more detailed cost accounting and billing information, increased customer satisfaction, and lowered IT operational costs.
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The cost of enterprise information management (EIM) can be staggering—preventing many health care organizations from leveraging enterprise information when strategically planning for the entire system. If this is prohibitive for large and medium organizations, how are smaller organizations going to be able to leverage technology that can access vital information inside their own company if cost prevents consideration?
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Large companies can afford to develop their own budget and forecast systems, but for small businesses, there’s only one choice—the spreadsheet. But spreadsheet financial plans are all over the map—no rules, no procedures, no consistent formatting, and minimal GAAP accounting. This white paper proposes standards that can help entrepreneurs and small business owners create, format,and manage financial plans.
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Integrating actuals into the planning cycle is usually a zoo. Financial and operating results are spread across multiple databases. Actual results and plan details are at different levels. Lack of underlying volumes and rates makes meaningful causal analysis difficult. Discover financial planning and analysis software that lets you fully integrate actuals, and plan using driver-based planning and reporting.
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When the top management at Hamworthy Gas Systems realized that the company needed to prepare for considerable organic growth, and gain better control of its core and support business processes, they began upgrading the company’s IT systems. Learn how a new solution, encompassing project and contract management, engineering, procurement and material management, and more, helped Hamworthy gain new perspective on its future.
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In previous years, Arizona (US)-based aerospace manufacturer Phoenix Logistics, Inc. managed its low-volume, batch-manufacturing process with non-integrated manual and paper-based systems. Find out how implementing a new software-as-a-service (SaaS) enterprise resource planning (ERP) solution helped the company overcome significant problems with ordering, regulatory compliance, and document management.
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KAMCO Industries, Inc. is an injection molder that serves tier-one and -two suppliers to Honda. After years of using stand-alone solutions and spreadsheets to manage business and production operations, the company was finding it challenging to maintain and support its IT infrastructure. Learn how KAMCO chose a new enterprise resource planning (ERP) system that helped it increase efficiency and standardize operations.
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Manufacturers face a challenging environment with scarce credit, pricing pressures, and increasing costs. Critical to success is an enterprise resource planning (ERP) solution that aligns operations and production with finance—allowing manufacturers to deliver quality products at competitive prices. Discover the key areas necessary for creating value and profitability through real-time monitoring of financial conditions.
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A flexible enterprise resource planning (ERP) system can be the foundation for a complete overhaul of your business processes—providing numerous benefits over a set of disparate software systems. Find out how an ERP solution can help your company automate the movement of information, improve decision making, create disciplined workflows, and provide the agility needed to accommodate virtually any type of business change.
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OpSource, a software-as-a-service (SaaS) technology company, was experiencing some growing pains. The company’s financial application made it difficult to track and manage international operations, and was not well integrated with its customer relationship management (CRM) system. Learn how OpSource’s replacement solution helped improve financial controls and support financial operations in four locations worldwide.
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After struggling with manual and often duplicate data entry, paper-intensive processes, and a lack of visibility into financial data, Knoxville, Tennessee (US)-based Faith Promise Church needed a new accounting system that would scale as the church organization grew. Find out how Faith Promise selected a solution that provided much-needed process automation, as well as greater insight into financial operations.
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Emergent Game Technologies develops tools and technologies required to build interactive games. Faced with an accounting solution that was causing lost productivity and accounting inaccuracies, the company sought a replacement. Find out how Emergent’s new solution helped it reconcile multiple currencies across multiple subsidiaries, reduce manual data entry and consolidation processes, and streamline revenue management.
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For finance executives, the financial advantages of cloud computing are undeniable. Shifting the costs of hardware and software from a capital investment to an operating expense makes software-as-a-service (SaaS) more affordable, and far more accessible. Learn how SaaS financials tools can free finance executives from the constraints of on-premise solutions, allowing them to concentrate on growth, regulation, and risk.
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For an increasing number of companies, the costs of owning and operating on-premise software are a burden they are no longer willing to bear. Fortunately, cloud computing is transforming the way companies use computing services by simplifying IT infrastructure, and shifting costs and risks from clients to vendors. Discover how global companies are using cloud computing to manage their financials faster and more easily.
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Since its inception in 2005, digital services provider Acceller had been using the same system to manage accounts payable (AP) and accounts receivable (AR). But when business began to increase, the lack of sophisticated financial reporting and the need for improved financial controls became significant issues. Find out how the company chose a solution that provided the needed control and reporting capabilities.
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In 2006, Envision Credit Union’s new chief financial officer (CFO) was looking to improve the visibility, efficiency, and accuracy of the company’s accounting and finance functions. Find out how a new business intelligence (BI) and analytics solution helped Envision reduce administrative costs, increase the average amount of overnight cash investments, and improve operational visibility, without adding staff.
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Tracking and reporting stimulus fund spending are difficult tasks for chief information officers (CIOs). The US government’s accountability demands are forcing organizations that are spending American Recovery and Reinvestment Act (ARRA) funds to analyze floods of data. Discover how automated ARRA reporting systems can help you comply with reporting requirements without excessive labor costs or data management headaches.
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Transitioning to international financial reporting standards (IFRS) is more than just a mandate—it’s an opportunity for companies to improve their financial consolidation and reporting systems, and enable rapid legal compliance. But making the switch requires careful planning, thoughtful execution, and support from personnel throughout the enterprise. Find out how your company can manage the change.
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Today’s critical cash-flow and liquidity concerns are demanding executive-level attention. Turmoil in the financial markets is leaving many companies struggling to ensure the cash flow and liquidity needed for normal operations. Learn about software solutions that can help your company protect its commercial cash flows, improve visibility into sources and uses of cash, and increase control over global cash balances.
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In a recession, accounts payable (AP) departments need to process more invoices and pay them faster—all with a smaller staff. Perhaps the biggest challenge stems from the continued reliance on paper-based invoices and people-based processes. Discover solutions that address the most common accounts-payable problem areas, including liabilities, process control and visibility, approvals, exceptions, and manual processing.
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The old way of thinking—you run a company through the once a year budget process—is on the way out in favor of new concepts and system approaches generally described as "continuous planning." The practical implementation of continuous planning is through rolling forecasts—frequent updates of financial plans that include integrating actuals data and rolling the forecast time period beyond the current fiscal year. Discover the concepts and practices of continuous planning, and find out how to define application requirements for integrating actuals, financial
modeling and scenario analysis—the three foundations of a continuous planning system.
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For multi-organizational enterprises, generally accepted accounting principles (GAAP), Sarbanes-Oxley (SOX), and International Financial Reporting Standards (IFRS) have made everything from closing the books to daily management more complex. Learn how to manage the sales and financial components of your enterprise, including requirements for addressing differing currencies, taxation rules, and reporting.
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To improve efficiency and reduce overall workload on financials personnel, California (US)-based utilities company South Coast Water District (SCWD) needed a new financials system with integrated human resources (HR) functionality. Find out how Technology Evaluation Centers (TEC) helped SCWD define its financial and HR requirements, evaluate its short list of solutions, and shorten the software selection process.
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LPEC, a large Polish energy distributor, found its financial and bookkeeping system was obsolete. New systems didn’t offer the data integration the company needed, and so it implemented enterprise resource planning (ERP) software to address bookkeeping, fixed assets, and materials management, as well as logistics, purchase contracts, and fleet management. Find out how the ERP system allowed full integration of all data.
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Needing to meet demand from the Internet and other sources, Polish furniture maker Deftrans implemented an enterprise solution with functionality for personnel and payroll, warehouse management, financials, invoice management, and more. With the new system, the company has reduced the time needed to prepare goods specifications and other warehouse operations, as well as ensured greater accuracy of invoices. Learn more.
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International Financial Reporting Standards (IFRS) are the reporting standards developed by the International Accounting Standards Board (IASB). IFRS is now required or permitted in nearly 100 countries, while others plan to adopt or align with IFRS soon. In the US, Generally Accepted Accounting Principles (GAAP) will soon be aligned with IFRS. Find out how this will affect your company, and what you can do about it.
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The TrainingPartner learning management system (LMS) helps New Horizons Computer Learning Centers keep its glocal edge by providing back office operations support.
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According to Nucleus Research, IBM Cognos business intelligence (BI) software can help companies make better use of their data when performing tasks related to reporting, financial statements, budgeting, and analysis. Learn about some of the barriers to better data use, as well as the key features and functions of this BI solution—and how you can improve data access and analysis, employee performance, and productivity.
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Extending the capabilities and value of SAP NetWeaver Business Warehouse is a concern for users. To improve data use and fact-based decision making, and reduce stranded spreadsheets, SAP users can choose a business intelligence (BI) software solution such as IBM Cognos 8, with budgeting, planning, and forecasting functions. Find out more about how you can improve your business performance management content with BI.
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Finance professionals who plan, budget, and forecast in an SAP environment always need to drive additional value from their SAP solutions. One of the most pressing challenges is extending SAP functionality with a planning, budgeting, and forecasting solution that offers critical modeling and analytic capabilities for improved financial performance management. Learn how a business intelligence (BI) solution can help.
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In today’s competitive global business environment, nearly all firms work hard to analyze alternatives and create strategies that enable competitive advantage. But 9 out of 10 companies fail to implement strategy effectively. How can you communicate the strategy effectively and assure that the entire company is aligned behind it? Discover how business performance optimization systems can help you make better decisions.
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To reduce time to market and realize the full value of its intellectual property, Cadbury plc needed to ensure compliance with government regulations. The company launched a long-term data management strategy, which included storing all data in a central repository—a product lifecycle management (PLM) system. Find out how Cadbury not only ensured compliance but also improved its response to consumer and customer queries.
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Financial pressures can strain even the most efficient and lean company. So forward-thinking companies should now turn to the chief financial officer (CFO). The strategic CFO is equipped with the tools, plans, and fiscal philosophy that can transform the CFO’s role into a strategic business asset. Discover the processes that allow the CFO to break away from the old paradigm toward better financial and risk management.
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The role of the chief financial officer (CFO) is evolving, but due to pressures to meet financial reporting requirements, there’s still a strong pull toward “chief bean counter” responsibilities. But CFOs can find opportunities to become true business leaders. With help from technology, five key strategies can enable the CFO to have a significant impact on the direction and success of the business. Learn more.
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Sales and use tax compliance is serious business. To reduce your risk of facing a costly audit, you need to invest time and effort up-front by formulating a transaction tax policy. Responding effectively to audits involves knowing about your company, your operations, and your resources. Find out why a tax policy is important to your organization and how to make it part of your business process and procedures.
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When it comes to transaction tax management, midsized companies haven’t much choice. They can either stay the course—increasingly complex and risky—or they can change direction and embrace outsourcing as a way to achieve compliance. Per this survey, only 14 percent are satisfied with their present course. As a viable outsource offering for mid-market tax compliance now exists, such a shift seems inevitable. Learn more.
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Even in the best economic times, businesses must be vigilant against unnecessary costs and risks. But not just businesses need to be vigilant—states and other tax authorities are feeling the same economic pinch, and are ready to seek out non-compliers with tax reporting. Get tips on how to survive sales and use tax audits, starting with understanding your exposure to audits and how to avoid them right from the start.
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Kempe, a provider of innovative engineering solutions and services for a variety of industries, was using separate systems to manage the financial and operation aspects of the business. These systems were out of date and made accurate financial reporting almost impossible. With the help of a value-added reseller (VAR), Kepme implemented a centralized, integrated solution that stores information in real time. Learn more.
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The first role of the corporate controller has been to ensure corporate financial controls and—as a distant second—make strategic business contributions. But the installation of on-premise enterprise resource planning (ERP) and accounting software meant that controllers’ roles now involve financial software know-how. To achieve financial transformation, controllers need guidance and practical strategies. Learn more.
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Fair Isaac Corporation’s FICO scores—the global industry standard for objective, profitable risk assessment—are the most widely used consumer credit scores in the world. Fair Isaac was using a simple in-house license manager to protect new installations of the FICO score, but as new implementations spread around the world, the company decided it needed a new system to manage its licenses. Learn about its chosen solution.
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Business intelligence (BI) exists in many corners of a company, and even outside its walls. BI is hidden in industry publications, staff knowledge, market research, sales data, project schedules, spreadsheets, and packaged and legacy software applications. Without a true and complete picture of all available data and information, you cannot effectively plan for success or appropriately leverage a BI system. Learn more.
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With traditional paper-based invoicing, the cash conversion process is lengthy and very inefficient. Today’s pressures to be accountable mean that you must improve your financial systems to provide timely and accurate financial information. Electronic data interchange (EDI) can minimize the delays on payment and address the lack of access to process information. Learn more about improving your invoice and payment cycle.
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There’s no magic bullet for compliance success—even the most experienced organizations use a combination of reliable processes and proven technologies to get the job done. But identifying, designing, and executing the right internal controls to meet compliance standards in a large, global company can be arduous and expensive. The systems you use to support compliance efforts must be implemented well. Find out more.
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Falcon Technologies, Inc. (FTI) is a leading distributor of data and telecommunications products. After several years, FTI realized its legacy accounting system could no longer manage the growing business, and that it needed an industry-specific solution. The new system, with a few customizations, has allowed FTI to improve its efficiencies and productivity, resulting in a growth rate of over 50 percent. Find out more.
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As the economic downturn deepens, there’s no shortage of advice on how your company is to survive—where to cut costs and how to retrench the business. But despite the natural inclination to spend as little as possible, a recession might actually be a great time to use market conditions to your advantage. Find out why now is the time to invest in talent, increase your market presence, perk up your processes, and more.
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“Financial close” is a company’s ability to complete accounting cycles and produce financial statements for internal management and external legal reporting—and is still a key part of today’s global finance function. Do you know how to overcome the barriers to a fast, high-quality close? Discover solutions that can help you improve your close times and address the challenges of automating and testing internal controls.
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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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Are you moving beyond the need to comply with legislation like the Sarbanes-Oxley Act (SOX), to focus instead on driving sustainability and control in your processes? Do you have an initiative to support the fast close—or does your ability to complete your accounting cycles and close your books need a boost? Learn about technology and a methodology that can help you deal with the intercompany reconciliation challenge.
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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.
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Given the dramatic events in the capital markets, everyone is wondering what will happen next—and what the implications are for the wider economy. Learn about the crisis both in the capital markets and the wider economy; explore likely future economic scenarios and the challenges facing companies outside the financial sector—and discover the actions your company should take in order to respond to these challenges.
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Workers spend on average close to 80 percent of their workday with some combination of enterprise applications and desktop tools. Best-in-class companies have already found ways to improve productivity. Learn more about the convergence of enterprise applications with desktop tools, and the role it plays in providing visibility to enterprise data, improving communication, and facilitating real-time decision making.
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As financial institutions look to the future, there’s bound to be a careful reappraisal of the role and responsibilities of risk management. Were the tools available to risk managers fit for purpose? Was the approach to risk management appropriate? Examine lessons that have been learned from the current financial crisis, and get 10 tips to help you address weaknesses in risk identification, assessment, and management.
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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.
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Once you decide it’s time to upgrade the enterprise resource planning (ERP) for accounting system, the next question is: “How much does it cost?” However, many variables factor into the total project price—and software is only a fraction of that. Discover 16 insider tips that can help you save money, as well as 30 specific questions to ask your software vendor, so you can avoid hidden costs and understand the total quote.
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Accurate forecasting requires many different views of the business. Increasingly, the finance department must make the links between forward-looking data from core operations and explain to stakeholders how this will impact the balance sheet and cash flow statement. How can chief financial officers lead the effort to make their operational and financial planning more agile, detailed, reliable, and efficient? Learn more.
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Sustaining profitability in a landscape of volatile prices and exchange rates is difficult for even the best-run companies. One key challenge is to understand the real economic costs in your business and of your products so you can make accurate decisions about sourcing, substitutions, pricing, and logistics. Find out how to use the right costing methodology and have the right information—and the right analytical tools.
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Making a list and checking it twice is a particularly good practice when picking a finance and accounting software solution. If you don’t find the right product for your company, you’ll just pay for the mistakes on the back end. But first you need to know which features your small to midsize business must have and which you don’t want. Get some tips that will help you create your finance and accounting checklist.
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IT spending is often an issue for companies, but in difficult economic times it’s even more important to see what benefit IT can bring to the business. But IT investments are most effective when they improve business performance. Find out the degree to which organizations in the United Kingdom (UK) understand what IT is doing for their businesses, and in particular how some companies measure this and benefit from it.
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Research shows that back-office connectivity is not addressed by many customer relationship management (CRM) solutions—meaning, customer data cannot be shared effectively and companies are prone to errors, delays, and needless paperwork. In the long run, this negatively impacts overall customer satisfaction in small to medium businesses (SMBS). Learn how front-to-back-office integration can help you address these issues.
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Over 100 countries now require or permit International Financial Reporting Standards (IFRS) reporting. Companies preparing to make this challenging switch will need to focus on technical accounting issues, the differences between IFRS and generally accepted accounting principles (GAAP), and more. Learn about the issues surrounding IFRS adoption and the systems you use to manage and report financial information.
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Since opening its first location in 1987, Australia’s TradeTools Direct has become a multilocation retailer to customers in the building trade. When it came time to transition from its cumbersome paper-based record-keeping system, the company chose Pronto Software. Find out how Pronto’s fully integrated point-of-sale (POS) system and accounting functions helped TradeTools increase efficiency and improve customer service.
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Integrative software as a service (SaaS) business systems are a way of transforming your finance operations. SaaS can position finance as the nexus of standardized, real-time information. Finance executives should investigate SaaS solutions and providers, so that finance and IT can work together to enable a cost-effective transformation of finance to a stronger leadership role and improve finance’s value to your company.
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Established in 2002, Fibrelogic is now Australia’s leading fiberglass pipe company. Recognizing that its spreadsheet-based systems—for everything from inventory management to financials—were delaying month-end reporting, the company implemented the PRONTO-Xi enterprise resource planning (ERP) system. Learn how the new system helped Fibrelogic access information for strategic decision making and improve customer service.
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For over 11 years, Australia’s Capt’n Snooze—the largest bedding retailer in the southern hemisphere—used Pronto Software’s enterprise resource planning (ERP) solution. Learn how integrated point of sale (POS), inventory, and financial management systems have helped reduce costs, increase customer retention, and maintain stock availability and consistent pricing across the company’s 73 franchised operations.
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After a number of acquisitions, it was vital that testing, inspection, and asset care provider PearlStreet have a solution to integrate each business and consolidate key company and financial information in one system. PearlStreet deployed a range of PRONTO-Xi modules, including project costing. Now, the company has greater operations visibility, more effective reporting, and the ability to analyze business performance.
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When implementing a new business management system, you need to consider many factors. With advances in Web technologies and growth in broadband across the Internet, alternative deployment methods have emerged. Nowadays, you often must include the question of whether to implement the solution on premise or on demand. Find out more about these options and how your choice can impact the overall success of your solution.
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Automating finance processes—such as closing the books, reporting, and other labor-intensive processes—reduces finance costs. By streamlining financial processes, you can spend more time on higher-value responsibilities and help ensure your company has a competitive advantage. Find out about the financial solutions many financial managers are implementing to automate their financial processes and financial transactions.
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The question constantly being asked by Microsoft® customers is, “How can Microsoft® help our company save money?” Customers want an integrated, adaptable business management solution that works well with, and is similar to, familiar Microsoft® software. Find out about the solutions Microsoft® believes are the best for helping its customers save money, to gain a competitive advantage and fuel business productivity.
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As a business leader, you’re likely thinking about ways to save money and improve performance. A little fiscal probity coupled with an increase in productivity will ensure you ride out tough times and emerge as a stronger, more robust, successful business. Find out how Microsoft® business solutions can help not only save money, but drive productivity change with customer relationship management (CRM) and other solutions.
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Swiss financial services company Global Refund needed to replace its antiquated customer relationship management (CRM) system. To find a mobile-enabled, user-friendly solution that could handle the company’s 15 million yearly transactions, Global Refund turned to TEC. Learn how TEC helped Global Refund turn its long-list of 40 vendors into a short-list of four, and shave two months off the selection process.
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Chief financial officers (CFOs) are under greater pressure, scrutiny, and accountability at companies large and small. An ideal CFO is a steward of decision-support information, cost controller, and more. With data supplied by some of the world’s most successful CFOs, get insight into what CFO responsibilities should be today to achieve extraordinary results, and how they should change to meet future challenges.
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Expanding rapidly into new lines of business and geographic regions, Current Energy found its old accounting software was limiting its potential. The company wanted to combine intercompany accounting functions, its point-of-sale (POS) and field service management solutions, and top-notch business intelligence (BI) and reporting capabilities. Find out how it improved customer care and reduced monthly closing times.
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Professional services organizations (PSOs) currently face a number of financial and resource management pain points. Discover the benchmarks PSOs can use to improve management capabilities and how business applications can help PSOs achieve their goals, including streamlining their businesses, increasing operating margins, and meeting the internal and external challenges posed by today’s fast-paced global marketplace.
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Governance, risk, and compliance (GRC) issues are hot topics today, thanks to high-profile stories about companies that failed to meet regulatory requirements. In each case, executives were held accountable, stock prices dropped, and brand image suffered. Find out about cross-enterprise GRC solutions that can make it easier to monitor compliance and risk effectively, and adjust to changing regulatory mandates.
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In addition to traditional duties like financial planning, reporting, and governance, chief financial officers (CFOs) and financial managers are being tasked with more strategic responsibilities. Learn how the right data, performance management applications, and resources can help finance managers improve operational efficiency, ensure regulatory compliance, and control performance for maximized profitability.
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A few years ago, Progress Paint realized its non-integrated software systems and manual processes were slowing productivity. To boost efficiency, the company replaced the old systems with a single accounting and enterprise resource planning (ERP) solution. Now, Progress manages inventory control, order entry, accounting, formulations, production, and environmental reporting via one automated, integrated ERP solution.
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Tortilla and wrap manufacturer La Tortilla Factory had three software systems to manage its business: one for billing, one for financial reporting, and one for inventory. As the company grew, this multisystem setup wasn’t providing the necessary integration. Find out about an enterprise resource planning (ERP) solution that helped the company establish process controls to help it grow, while integrating older systems.
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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.
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A producer of whole milk powder for the chocolate industry, VernDale Products wanted to replace its existing manual system with automated, fully integrated enterprise resource planning (ERP) software. The company, aided by technology consultants, found an ERP software system that was the best functional fit—reducing the time needed to perform routine office tasks and improving accuracy in financial statements. Learn more.
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Designed to be agile and dependable, financial analysis solutions can bring clarity to the reasons behind your company’s growth, and help steer you toward future growth. Learn how financial analysis solutions enhance the value of your existing business support systems, and distill enterprise-wide information to answer the question: How can we increase revenue, maximize profits, and increase our competitive advantage?
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Well-informed accounting treatment of network-critical physical infrastructure (NCPI) assets can improve a company’s financial performance. Design and manufacturing improvements in modular and scalable uninterruptible power supplies (UPSs), power distribution units (PDUs), and computer room air conditioners provide entirely new NCPI asset management opportunities with direct and measurable financial benefits. Learn how.
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Security Benefit is a financial services company based in Topeka, Kansas (US). The company’s outside sales team operates from remote locations nationwide. For years, the company used an internally developed contact management system to support its remote sales force. But, field sales staff couldn’t stay connected to the most relevant business data. Learn about the solution that gave the company access to real-time data.
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In the late 1990s, TDIndustries had disparate business systems that kept the company from increasing efficiency and performance. Today, nearly all business activities run through Microsoft Dynamics SL, which helps to simplify financial management and empower employees with real-time data. And, to enhance Dynamics SL, the company built a business intelligence (BI) solution that helped save $3 million (USD). Find out more.
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Due to acquisitions, Zurn—manufacturer and distributor of plumbing products—was running three disparate enterprise resource planning (ERP) systems. Financial reporting and data sharing across business units was time-consuming. To handle current and future business needs, Zurn wanted an integrated ERP system that would provide up-to-date accounting, sales, and warehouse data. Find out about the integrated ERP Zurn chose.
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Founded in 1983, Network Equipment Technlogies (NET) provides network and voice exchange solutions for government and enterprise customers worldwide. To increase its operational efficiency, cut costs, and improve government reporting and compliance capabilities, NET needed a new enterprise resource planning (ERP) system. Find out how switching to Microsoft Dynamics AX has helped NET save an estimated $1.5 million (USD).
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Old-world quality is great for a chocolate manufacturer, but old-style business systems are not. Hauser Chocolatier learned this the hard way, struggling for years with DOS-based accounting software. Needing a seamless flow of information from a system that would accommodate Hauser’s unique pricing structure, the company chose Sage MAS 90. Find out how Hauser uses this accounting solution for more than just accounting.
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Your old solution provided the basic bookkeeping capabilities you needed to start your company. But now, you have more customers. More employees. More complexity. What do you do when your small business is no longer so small? Before you make the move to a more powerful accounting solution, you should gather the facts and compare solutions. Get started with 37 tips for finding the accounting solution that fits your needs.
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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.
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Designed to improve consumer financial services, the Gramm-Leach-Bliley Act (GLBA) includes security provisions for protecting confidential electronic financial information. For the approximately 9,500 financial institutions affected, compliance can be complex and process-intensive. Learn about network security auditing and vulnerability management solutions that can make GLBA compliance faster and more cost-effective.
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Recent EquaTerra market research finds a consensus among western business leaders that increased globalization is inevitable—and that it will generally be beneficial. Quickly and efficiently leveraging opportunities created by globalization is the best way to avoid being overwhelmed by its challenges. Learn how to compare buyer and service provider data and get insight into developing a responsive global strategy.
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Big-name vendors are competing with those that have long catered to midsized enterprises. With a little savvy, midsize companies can make the dynamic enterprise resource planning (ERP) market work to their advantage. Learn the industry’s top 10 strategies to grow your company and revenue by upgrading from an out-of-the-box finance solution to one that better connects systems and processes throughout your business.
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For large organizations, enterprise resource planning (ERP) systems promise big gains by helping grow revenue and increase productivity. But can ERP benefit small to medium businesses (SMBs) in the same way? This step-by-step guide includes important decision-making considerations, such as benefits and costs, across some of the top finance and accounting solution providers for small to midsize companies.
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When conducting a mid-market enterprise resource planning (ERP) system comparison, there are several key questions that you should ask: How much should ERP software cost? What IT resources will be needed to implement it? But don’t stop there. The seas of ERP are vast, and navigating through the current market is not simple. Equip yourself with these questions before evaluating and interviewing vendors.
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Gunther Gifts, a California (US)-based company, engraves and ships unique gifts nationwide to over 200,000 customers. An integrated solution that could efficiently manage accounting and inventory was crucial. And with several web sites taking information from the same inventory pool, the company needed a system to track inventory across multiple channels. Discover the company’s chosen solution, and the benefits gained.
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When the first Kenneth David Apparel store opened in 1992, the company could manage operations with an accounting solution alone. But as new stores opened, the company needed software to scale with growth—not only on the retail side, but design and manufacture too. Its new solution has e-commerce and point-of-sale features, and allows the company more insight for more effective management. Read more about the benefits.
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Fischer, the world’s largest ski manufacturer, grew 47 percent in a three-year period and found its operational staff was spending too much time reconciling data among disparate systems. Plus, it was impossible to accurately analyze customer data to forecast sales and inventory projections. After implementing Everest, Fischer has increased customer satisfaction with real-time order and inventory information. Find out how.
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Financial services organizations are always looking for ways to improve business processes to implement tighter control—and improve the bottom line. But finding new ways to boost efficiency is challenging. One strategy for success is to improve the use and allocation of resources in order to eliminate errors from duplicate data entry. Discover more about this strategy and two others, as well as how they can benefit you.
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Nucleus Research reports that NetSuite, a leading integrated Web-based business software suite, can deliver a positive return on investment (ROI) in fewer than nine months, by automating processes, boosting sales, increasing productivity, reducing or avoiding headcount, increasing data visibility, and retiring costly legacy systems. Learn how NetSuite business management software provides a positive ROI to businesses.
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The Washington Post Company (WPC) needed a system to manage tax and asset depreciation from 25 companies, while allowing each company to independently add fixed assets and generate reports. With more than 100,000 fixed assets throughout the company, this was no minor task. But with the new Web-hosted fixed assets management solution, WPC accesses all data in real time, saving time and ensuring accuracy. Find out how.
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For Sequa, a manufacturing company with 60 major operating units, the challenge was to replace its old fixed assets management system—which didn’t support tax law changes— with a remotely accessible solution to eliminate manual calculations. Sequa’s new Web-hosted solution allows accurate results, better reporting, and up-to-the-minute tax change support—with no need for IT maintenance. Learn more about the benefits.
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A company with a global presence can easily face “double trouble” with regard to financial reporting. Each division needs to keep books, pay employees, manage accounts, and pay taxes in the currency of its region. But all accounts must be consolidated, which involves processes that can cause inaccuracies and use up valuable time. Find out how to more effectively close your books, and manage your disparate sales teams.
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Oil and gas industry leader MODEC was already using Microsoft Dynamics SL for core financial activities. But as the company faced rapid growth, it began to look at how the technology could be used to improve other vital business processes. Discover how MODEC worked with the NexTec Group to hone those processes, identify areas for improvement, and propose and direct the technology initiatives to effect the needed changes.
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Human resources (HR) payroll solutions can foster greater efficiency and accuracy while cutting labor costs and bolstering employee morale. But getting the right payroll software for you isn’t easy. Is enterprise resource planning (ERP) with a payroll module what you need? Or best-of-breed HR payroll software? Find out what to look for, how to buy, and other tips to getting the most value from your payroll solution.
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As the banking industry goes global, the need to be available 24/7, increased demands for customer service, and reduced budgets have introduced new pressures to small to medium banking firms. And with the ongoing challenges of regulatory compliance, firms need financial services software that can reduce the risk of noncompliance while addressing the scale of their operations. Find out how an integrated solution can help.
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The basic spreadsheet and accounting programs you’ve relied on ’til now won’t help your growing business eliminate decision-making bottlenecks, reduce IT costs, increase productivity, or improve the customer experience. To do all that requires an enterprise-wide, integrated software system. Learn how an integrated system can help take your business to the next level, and how to ensure you get the right system for you.
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Rapid changes in the market and in customer needs mean small to medium businesses (SMBs) must work harder to stay competitive. Setting and achieving goals in this economic environment is increasingly difficult. Upgrading to a next-generation enterprise resource planning (ERP) can be a way to manage change—and even benefit from it. Learn more about how to customize an on-demand ERP solution that’s right for you.
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You've made the effort and created a great brand—but how do you ensure it stays intact as you diversify across multiple marketing channels, and product and service lines? Combining Web operations into an integrated marketing tool for acquisition, retention, and cross-sell can provide your company with many benefits. Learn how with 7 tips for centralizing your Web management strategy with a content management system (CMS).
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Before you decide if you need to update your financial management software, you should ask some questions about five key areas of your operations. For example, does your current system generate the types of reports you need? And does it allow your processes to support your policies? Evaluate all the challenges you face with your current financial management software—and find out how you can overcome them with an upgrade.
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As a fast-growing company, you have the same objectives as any business. But you’re probably finding it challenging to gain the control you need to achieve these goals without sacrificing your IT budget. And when you try to achieve control, it’s often at the risk of slowing down your business. Find out how having enterprise-wide visibility of your business processes and activities can put you back in the driver’s seat.
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This report identifies the major IT issues faced by small to midsized businesses (SMBs), including information silos, lack of IT staff, and outdated business applications. Because they lack the right information to meet customer expectations, SMBs have difficulty reacting quickly to fast-changing market dynamics and growing their revenue. Find out how the elimination of information silos can create a more consistent effective customer experience.
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Today, financial services firms are increasingly focusing on organic growth—forcing contact centers to drive cross-selling efforts as well as strengthen customer relationships. But in order to contribute to profitable growth, they must be able to quickly identify and address customers in a personalized fashion and present offers that are highly relevant. Discover how a customer interaction optimization solution can help.
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Some managers have concluded that strategic planning is nothing more than an exercise in futility, to be taken out and dusted off at annual meetings. However, strategic planning can still help direct your company and improve earnings. The trick is strategizing well—which means having all the information you need, when you need it. Find out how to hone your competitive edge with integrated business planning capabilities.
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High-speed Internet access (HSIA) has become a key technology asset for many hospitality providers around the world. But as a widely regarded bottom-line impacting resource, HSIA must be properly managed in order to prevent negative impacts on a facility’s revenue. Learn how to create a strong, winning HSIA strategy that will increase your guest satisfaction and secure recurring revenue well into the future.
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With the globalization of business, the rise of virtual offices, and an increase in traveling employees, travel and entertainment (T&E) spend is ever increasing. While business travel is considered a vital function and a cost of doing business, it’s not always seen as a category of spend that can be controlled and reduced. To efficiently manage T&E expenses, the procurement department must be involved. Find out why.
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Many businesses today rely on telecom expense management (TEM) for mission-critical functions ranging from sales to service to customer relationship management. But despite its overall importance, nearly one-third of a telecom staff’s time is spent on processing orders and invoices. Maximizing the potential of a telecom system requires a data-driven approach. Find out how Map-To-Win is helping businesses do just that.
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Senior finance executives in all industries recognize the long-term benefits of transaction-processing automation on resource allocation. Transaction automation frees time and resources that can be allocated for decision support and financial planning and analysis. The result: sustained, profitable top-line growth and risk reduction. Find out other benefits of improving your back-office processes through automation.
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Today, all retailers that process, store, or transmit cardholder data have a fiduciary responsibility to protect that data. As such, they must comply with a diverse range of regulations and industry mandates. However, many retailers struggle with the task of implementing the proper policies and controls. Discover how log management and intelligence (LMI) can help you simplify and accelerate the compliance process.
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Understanding the full scope of risk in today’s complex business environment is a must for achieving compliance with governmental mandates and industry regulations. However, many companies have a limited perception of risk and struggle to make compliance an enterprise-wide, integrated process. Compliance is no longer a one-time isolated project; it’s an ongoing effort—and you’re just tens steps away from discovering why.
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When it comes to US Payment Card Industry Data Security Standard (PCI DSS) compliance, safe change actions are critical. But what’s the best approach for file integrity monitoring and change detection? While there are many solutions on the market, continuous file integrity monitoring (CFIM) is winning over the competition worldwide. Find out how CFIM can handle your operational control monitoring requirements.
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The US energy sector has experienced recent loss of counterparty confidence. To offset this, managing credit risk has become paramount. Knowing what the risks are is just the start—risk mitigation methods must be used to reduce overall credit risk exposure and to free up capital resources. Find out three key ways to mitigate risk, and how a clearing, novation, and release agreement (CNRA) can help guarantee collateral.
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Unlike most other business, transmission and distribution companies do not have the flexibility to adjust their prices independently based on demand-supply dynamics. Given the practice of performance-based rate-making, these companies must continually strive to reduce cost. To achieve this, supply chain managers must create a blueprint of their processes by systematically analyzing their supply chain practices.
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Choosing the right professional services automation (PSA) solution may be one of the most important decisions a billable services organization will ever have to make. It’s a decision that can clearly impact your company’s bottom line, so it’s crucial that you get all the facts—up front. When talking with PSA vendors, knowing what questions to ask in order to make an informed selection is vital. Read here to find out why.
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With the growing significance of services to the bottom line, it’s never been more important to effectively monitor, measure, and manage your services business. Knowing which key performance indicators (KPI) can help drive success and contribute to your bottom line is essential. But with over 150 KPIs available, where do you start? Discover how these few small key improvements can help your service business performance.
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The competitive nature of the financial services industry today and the changing landscape of the customer approach to investing puts an onus on suppliers to consider how well they are dealing with customers’ business transactions. In order to provide better customer service—while at the same time improving operations—these organizations must invest in a system that allows real-time visibility of the entire process.
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A combination of manual data entry processes and the sheer volume of invoices it received every day was causing Northeast Utilities major backlogs in processing—as well as added payroll expense. To automate its processes and free up its staff resources, the company adopted AnyDocINVOICE. Since its implementation, Northeast has reduced its backlog by more than 90 percent and saved $240,000 (USD) in labor costs.
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Sykes-Health Plan Service Bureau (SHPS) was growing and needed a solution that could boost its productivity and deliver results to its clients. Processing thousands of health- and benefit-related forms was a major component of its business, and as such, employees faced ever-increasing workloads. To ease the load, SHPS implemented AnyDoc’s optical character recognition (OCR) solution and drastically reduced labor costs.
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Administrative errors can and do happen, but native tools do little to aid administrators in this area. While Microsoft’s Group Policy Management Console (GPMC) is a great tool for managing group policy, it has its limitations. Discover how to implement best-practice approaches to help successfully extend the deployment of group policy to your server security settings, while reducing costs and minimizing errors.
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Increasing user productivity is an ongoing challenge for many companies. While an abundance of online information and applications is available to them, facilitating fast and secure access to the information can be a complex task. An integrated provisioning and single sign-on (SSO) solution provides secure access to the network from the moment an employee starts the job—enabling full productivity from day one.
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CTS Cement Corporation, a manufacturer of professional-grade construction cement, operates out of 15 facilities across the US. As the company grew, it needed to address the inefficiencies of its accounts payable invoice processing, which was being keyed manually into two different systems. With this lack of connectivity between systems, CTS turned to AnyDocINVOICE solution and now indexes nearly 2,500 invoices per month.
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Bluecross Blueshield of South Carolina (BCBSSC) had been using optical character recognition (OCR) technology for many years, but wanted to improve productivity by automating its claims processing system from document and data capture to document storage. By integrating AnyDocCLAIM into its existing automated system, BCBSSC has increased its processing speed and averages more than 400 claims per hour.
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Duke Realty Corporation—the largest publicly traded office and industrial property owner in the US—needed to find a more organized way to process the nearly 20,000 invoices its thirteen locations handled each month. To ensure data was properly captured and processed, Duke Realty turned to AnyDocINVOICE solution and has since been able to create a faster, more visible invoice process that uses 50 percent less staff.
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More than 95,000 documents arrive annually at Baton Rouge’s Department of
Finance in the form of invoices, purchase orders, confirmations, and more. In an effort to get this vast amount of documents under control, it sought an automated indexing solution that would eliminate the need for filing cabinets. Since deploying BROKERit, the department has increased productivity and realized an annual savings of $58,000 (USD).
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The divide between strategy development and strategy execution can be overcome by creating balanced scorecards. Prioritize your objectives to determine which are most critical. Then cascade objectives and metrics down and across the organization, creating linked and related—but not identical—scorecards for each critical area. These and five other tips for scorecarding success will move you in the right direction.
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It’s not enough to develop a strategy for your enterprise; real success comes from effective execution of that strategy. Prioritization, improvement, and control are the key steps involved in enterprise strategy execution. But before leaping right into deployment, you might need a few more details. Learn how planning your objectives and fixing performance gaps gives you control of improvement gains—now and in the future.
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Accounting firm Fox and Fiorino P.A. knew there had to be a better way to take care of billing. With most of its billing being entered manually, no real-time reporting was available to ensure accuracy. So in 2003, the company implemented BillQuick. With this automated time-keeping and billing solution, Fox and Fiorino has improved the quality of its information, reduced overtime, and increased revenues and cash flow.
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For AG & Co., embracing new technology was the only way to go if it wanted to continue increasing its revenues. Although it had purchased a new computer system back in 1986, the old software products it was using were non-integrated, making it difficult to keep track of engagements and billing. Billable time meant revenue, so AG & Co. opted to implement BillQuick, and has since reduced its overhead and increased profits.
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Identity theft and credit card fraud affect all businesses—and the problem is only getting worse. In order to combat these threats, credit card companies have joined forces to introduce the Payment Card Industry Data Security Standard (PCI DSS). For financial institutions, complying with PCI DSS by using real-time monitoring and selective enforcement software can help to relieve the burden of unauthorized changes.
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Maybe you’ve already invested in an e-commerce site for your business. However, to fully maximize its potential, it must be integrated with your accounting system. If not, your staff may be wasting valuable time re-entering inventory and customer data from one system into another. Save time, reduce labor costs, and boost your competitive advantage with an e-commerce solution that allows full integration.
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Desserts of Distinction was using too many ingredients to take care of its key business activities. Storing recipes, controlling inventory, and tracking orders required various accounting software applications, spreadsheets, and databases. As a result, simple processes were time-consuming and manually intensive. Find out how BatchMaster addressed a number of needs, including inventory accuracy and traceability.
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Having the right IT infrastructure is critical to consistent growth and profitability for midsize companies. Sadly, many business applications don’t support changes to both business processes and a company’s organizational structure. In fact, many are inflexible and create disconnects between departments. However, there is a solution that’s built to enable growth and adaptability in all business functions and operations.
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Many business owners and managers wonder how to maintain visibility and control in order to keep ahead of the competition, focus on customers, and adapt to market changes. Are you worried your company will lose its competitive edge as it grows, because of an outmoded IT landscape? Keep your IT requirements simple and meet your company goals, with an on-demand solution that integrates support for all business activities.
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As a provider of employee benefits, CIGNA must observe a bevy of regulatory compliance mandates. Because much of its efforts are compliance-focused, it continually embraces technology, searching for new products to better manage its benefit offerings and track its security risks. With QualysGuard’s vulnerability management solution, CIGNA has mitigated vulnerabilities and remained up-to-date with compliance regulations.
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For many years, S&C Electric, a global provider of electric power system equipment, used internally built tracking and Subversion data to manage source code and documents and to track viruses. But as it grew, its needs became more complex, and more maintenance time was required. A managed source control solution now manages and protects S&C Electric’s intellectual property, and saves the company a lot in man-hours.
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For customer relationship management (CRM) to work effectively, departments within an organization must communicate and have access to centralized information. But integrating front- and back-office applications shouldn’t involve compromise. Learn how to automate sales and CRM with accounting systems, with key pointers in planning your integration project. And find out how to boost your CRM return on investment (ROI).
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For many years, the various departments at Walker Foods worked independently of one another, which seriously impeded the flow of data throughout the enterprise. It was clear that an integrated system was in order, and after a few initial upgrades, the company decided on AppFinity’s WebCustomer overall online solution. Since its implementation, Walker Foods has increased order accuracy and significantly reduced expenses.
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An estimated 55 percent of users of business critical applications work in remote locations. With so many users working remotely, networks become congested and user productivity suffers. Until now, wide area network (WAN) monitoring and shaping has required special appliances, but there’s a new alternative software-based solution available that leverages the power of the user’s PC—providing unprecedented traffic control.
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In their efforts to accelerate time to market and improve business process efficiency, many marketing organizations adopt customer relationship management (CRM). But CRM often falls short in exploiting the exponential growth of content associated with product and brand marketing. By using a digital asset management (DAM) solution, however, you can increase productivity and achieve a favorable return on investment (ROI).
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In today’s business world, heightened privacy concerns and tightened regulations such as the US Sarbanes-Oxley (SOX) Act have forced organizations to improve their workflow and archival and records management processes. That's why many results-oriented organizations are now using workflow software—bringing together people, processes, and documents to improve efficiency, reduce costs, and meet compliance requirements.
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Developing a good disaster recovery plan (DRP) in today’s business world is a must. In fact, downplaying the importance of a DRP can be costly—especially if you’re a small to medium business (SMB) that is slow in adopting DRP. Recent studies have shown that 40 percent of businesses that have encountered a disaster close their doors within the following five years. To stay afloat, here are ten steps that should be taken.
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In order for a business to stay on top of compliance requirements required by the Sarbanes-Oxley Act (SOX)—and avoid financial penalties or possible jail time—it must take a good look at its IT environment and financial reporting processes. The collection, management, and analysis of log data are integral to meeting SOX requirements and as such, require a system that automates these processes across the IT infrastructure.
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Asset management cannot be successfully implemented by your accounting department alone (or any other single department). That’s why you should be on top of today’s asset management climate and the tools available to improve controls. Learn about approaches that are getting results, and find out what doesn’t work (and why). Finally, get the lowdown on best practices which have proved both effective and durable.
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Information lifecycle management (ILM) is rapidly gaining acceptance as a process crucial to the success of many IT initiatives. The reason for this is the importance of managing data. With the growing demand for ILM comes a variety of solutions that follow a disjointed, point product approach. By choosing an ILM software designed to scale to its needs, a business can benefit from software built on a unified platform.
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The growth of application data has placed an enormous burden on IT organizations to maintain acceptable application performance and availability. The weight of managing and navigating through vast amounts of inactive data has caused outages and raised budgets, among other problems. Active archiving software, however, addresses complex data management issues and delivers lasting benefits to organizations and its users.
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Data breach is a very real problem in business today. Every day, organizations store massive amounts of data inside database tables—data ranging from credit card transactions to product inventories. This valuable information is what runs the business. In order to protect this data and stay on top of compliance, an enterprise data management solution that respects information privacy regulations should be considered.
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Fax hardware plays a crucial role in the sending and receiving of business documents. With high-volume use over time, instabilities in performance can occur. Therefore, how well fax boards and fax software applications perform together becomes an important consideration. With IQ Express intelligent fax board series, fax servers send and receive corporate documents electronically—reducing costs and improving productivity.
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When Naghi Group’s annual revenue began to soar, it realized that running core business operations on multiple systems was no longer feasible; its current solution lacked the integration capabilities necessary to communicate with its distribution and manufacturing departments. After only a few months since integrating VAI’s enterprise resource planning (ERP) solution, Naghi has already realized its many benefits.
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Financial service institutions spend thousands of dollars every year on securing their networks from external breaches, but often fail to think about possible internal threats. Employee fraud has become a growing problem in the financial sector—one that many institutions are not fully prepared to handle. Implementing automated detection technologies, however, can be their first line of defense to eradicating this problem.
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On top of the many challenges faced by IT managers today comes yet another challenge: ensuring efficient and secure user access to SAP. Because of the unencrypted communication between users’ workstations and the backend servers, the SAP environment—and the confidential data it stores—become vulnerable. With a secure single sign-on solution to SAP, however, you can significantly improve the security of this environment.
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Today’s business environment is more mobile than ever. With more employees traveling—using laptops, personal digital assistants (PDAs), and home computers to conduct business—vulnerabilities increase. Companies are now protecting their digital assets with full disk encryption (FDE). Recent advances in FDE allow businesses to protect data stored on users’ mobile devices, without jeopardizing intellectual property.
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Protecting your company’s data is not only wise, but often legally necessary. In order to beef up their data security programs, more companies are implementing full disk encryption (FDE). In the past, FDE was software based, which left it open to greater security risks. With the advent of new technology, however, it is now possible to migrate from software- to hardware-based FDE while still protecting your existing systems.
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With ever-changing technology, businesses often spend too much time and money trying to sustain their outdated systems. But is it possible to maintain a legacy system without the substantial costs of frequently updating it? By adopting service-oriented architecture (SOA)—which provides a suite of automated tools and services for migrating and extending legacy platforms—businesses can maximize quality and minimize costs.
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The role of finance departments needs to shift from cost center and scorekeeper to that of key advisor to the business. That’s why you need to change processes to help employees work more efficiently on high-value analytical tasks. Implementing next-generation enterprise financial systems will help balance control, transaction processing, and decision support—as well as lower your total cost of ownership.
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Globalization is one of the top issues affecting organizations’ supplier management strategies. True supplier collaboration can no longer be avoided: working closely with suppliers around the globe is the best way to streamline and reduce costs and increase value. With practical tips and techniques on how to achieve your vision statement, you can attain sourcing excellence while setting a pace that’s right for your company.
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Market trends are reshaping financial management approaches for companies of all sizes, especially small to medium businesses (SMBs). That’s why many SMBs are exploring alternatives to Intuit’s QuickBooks, which many young companies rely on in their initial stages. And although software as a service (SaaS) is emerging to address real-time financial management requirements, can SaaS really satisfy your needs?
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Payroll is a vital yet meticulous component of operating a business, and it involves much more than just paying employees. Some large businesses have a separate department handling payroll duties, but many small to medium businesses outsource their payroll needs. No matter what option works for you, the best decisions are informed decisions, and this how-to guide can help you manage all your payroll needs.
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Customers, employees, and partners are an integral part of any business—each playing an important role in its success. But how is it possible to share vital information between them? In order to access information, understand trends, and build better processes, a system that enables multi-user collaborative technologies is required. Without these collaboration tools, business process management (BPM) cannot be successful.
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In 2004, there were 1.3 billion credit cards in circulation in the US. With fraud incidents on the rise, credit card companies are at constant risk of losing sensitive cardholder data. At the same time, strict payment card industry (PCI) requirements are forcing companies to put better systems in place to ensure clients are adequately protected. By implementing the right software tools, achieving compliance is possible.
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Benchmarking is a process where companies compare their performance over time against their competition. In doing so, they can identify where their strengths lie and where improvement may be needed. The point of benchmarking is to focus on areas that will yield the best return. For companies to succeed in their benchmarking efforts and gain a sustained competitive advantage, five key steps should be considered.
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In business, planning plays a fundamental role in analyzing and forecasting key financial data. While forecasting future events is one benefit of planning, it can also be used to achieve a series of objectives, including regulatory compliance. In order to achieve these objectives, companies should consider implementing a unified customer performance management (CPM) solution—one that takes compliance into consideration.
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For most companies, e-mail is an integral part of the business workflow and a primary channel for communication. For these reasons, e-mails can be considered legal business documents and should be retained for a predefined period to satisfy government regulations. With an e-mail archiving system, message contents and attachments are stored in a read-only format, ensuring they are archived in their original state.
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Research shows that between 65 and 95 percent of all e-mail is considered spam. On an individual level, spam is an annoyance more than anything else, but on a company-wide basis, spam causes significant problems—and the cost to manage it is sizeable. Spammers are always one step ahead of antispam vendors, so to combat this persistent problem, companies need a single-source product that can eliminate spam for good.
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By some estimates, there are over 8,000 sales taxing jurisdictions in the US—and they implement from 900 to more than 3,000 rate and tax-rule changes every year. Understandably, the accountants who try to guide small to medium businesses (SMBs) through the intricacies of tax compliance are having a hard time of it. However, solutions are emerging that are uniquely suited to SMB needs for sales tax compliance.
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Spam considerably lowers user productivity, as it delivers unwanted, irrelevant, or anonymous e-mail messages. The best way to manage the incidence of spam is to measure it. The Spam Index—a tool for measuring improvement in spam control systems and for comparing spam control performance with competitors—is a method used by businesses worldwide to achieve lower spam levels and improve business performance.
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E-mail is a powerful business tool that most enterprises can’t live without. Unfortunately, along with its capability of accelerating commerce, productivity, and social interactions, there are some drawbacks—such as spam! Companies that rely on e-mail to do business simply can’t afford the negative affects of spam. However, new technology is emerging that helps stop spam and allows users to get on with business.
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You can’t pick up a business or IT magazine today without seeing numerous articles about the growth of mobile and wireless technologies. Why are these technologies so trendy? The answer is simple: developments in mobile computing, wireless communication, bar codes, and other data collection and communications technologies help businesses extend visibility and control over the operations that really matter to them.
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It s hard to go anywhere these days and not see ads for mobile wireless carriers. But the technology is so confusing and the choices so overwhelming, it can be impossible to know which solution to choose. Before making the wrong choice, it’s best to have a basic understanding of mobile wireless communication—how it is currently being used in the industry, and how it can benefit your organization in the future.
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How can you establish a priority-based mobile networking system that provides workers access to company and customer records that they can manipulate from the field? By employing a total solution system that provides various methods of transmitting data. While this type of system may be more costly to implement than a stand-alone pager or cell phone, the benefits it offers can directly impact your bottom line.
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Radio frequency identification (RFID) technology has retailers talking. The reason: RFID helps reduce labor and improves the ability to gather data. Retailers can use this data to make positive changes to business processes, which can be tremendously advantageous for them. With careful planning, an RFID system can provide immediate benefits, as well as long-term competitive and total cost of ownership advantages.
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Small to medium businesses (SMBs) often face the same challenges as large businesses—just on a smaller scale. One such challenge is finding a business solution that manages expansion and addresses complex reporting and compliance issues. Many SMBs are now adopting enterprise performance management (EPM) solutions—complete with tools to help them meet the current and future needs of their growing business.
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Small to medium businesses (SMBs) face the same challenges as large businesses when it comes to IT management—they have increasingly complex systems they rely on to drive their businesses and gain a competitive advantage. Operating and maintaining a complex IT infrastructure requires specific skills, but getting the right staff at an affordable price can be a problem. Outsourcing IT management may help to ease the strain.
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In any organization, people remain one of the largest sources of value when it comes to business processes. But providing them with tools that can be easily accessed and used has its challenges. As we move into the era of service-oriented architecture (SOA), portal and collaboration software now delivers the essential people-focused capabilities businesses need, while adding significant value to the organization.
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How can a budget administrator, burdened with the task of gathering data from hundreds of spreadsheets from all over the organization, manage this monumental undertaking? Additionally, how to avoid using a costly packaged budget application that doesn’t take the organization’s business rules into consideration? The solution: a spreadsheet automation tool that easily adapts to the organization’s unique corporate processes.
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Today, companies are looking to improve work processes, comply with legislation, and increase productivity—and they’re implementing electronic document management systems (EDMS) to help them effectively manage their information. By deploying EDMS—which are capable of capturing, storing, and retrieving records, files, and folders—these companies are achieving unprecedented levels of control, efficiency, and automation.
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Industry today demands more quality of manufacturers, and as such, ISO 9001—the yardstick by which quality products and services are measured—is forcing more and more companies to become ISO-certified. However, companies can use a browser-based tool to help bridge any information gaps they may encounter during the process—and to give them the head start they need to intelligently manage their ISO certification.
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One of the first and seemingly simple questions that companies ask when making IT investments is “how much does it cost?” Many often find themselves wondering why—even after a successful implementation—their costs keep going up. When evaluating a mobile workforce automation project, companies should take the time to conduct a thorough total cost of ownership (TCO) analysis to detect hidden costs—and avoid nasty surprises.
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