Home / Logon / About this Site

Accounting Software & Financial Reporting Software

glossary

Introduction

Tools

Expert View

Market Research

Management Briefings

White Papers

Search this Area

Strategy Documents

White Papers

Corporate financial management in enterprising companies: Infor (January 2008)

Finance executives must meet a growing number of complex demands and challenges if their companies are to reach the next level of profitable growth. Operational excellence around core financials is certainly essential. CFOs and their teams are expected to standardise transactional processes and deploy effective and efficient financial systems. They must deliver strong performance in everything from cash management to regulatory compliance to merely address foundational financial requirements. But finance executives can’t stop there. To differentiate their companies and take their own careers to new levels, they must focus on strategic financials. They need to provide forward-looking insight that enhances strategic planning and decision making. They must extend the capabilities of their financial systems beyond core activities into new areas, automating more processes and driving productivity gains still higher.

Are you outgrowing your finance system?: CODA (October 2007)

Technology is an essential tool in today’s economic environment. And while it is possible to survive without the latest business applications, relying on antiquated finance systems which are unable to handle multiple languages, currencies, companies or different reporting regimes effectively, could seriously threaten your corporate health. Whether it’s international trading, buying or selling new divisions, diversification or just growing the business, companies can easily find themselves losing out to competitors that are simply more technologically advanced. Moreover, as the regulatory environment becomes more complex and the call for good governance and sustainable value creation more powerful, relying on outdated systems that cannot produce accurate, timely or reliable data offers little assurance. Growth strategies, therefore (however good), can simply become glorified statements if a company hasn’t equipped itself with the right tools to execute them effectively. However, for many organisations, concerns over system implementation and the costs involved are a definite turn-off. After all, if it isn’t broken, why fix it?

The convergence of corporate social responsibility and IT: Lawson (October 2007)

Corporate social responsibility (CSR) is a concept that has been around for decades; however, a heightened interest in the role of business in society has resulted in organisations in all industries and regions of the world re-evaluating how they impact their stakeholders. This white paper will provide an overview of CSR, explore what organisations are doing in this area, and outline a process for you to establish your own CSR programmes. It will also provide an overview of the Lawson approach to leveraging information technology to help organisations manage their CSR programmes. CSR, also known as sustainable development or corporate citizenship, has many definitions. For the purposes of this white paper we’ll highlight two of the more recognised and accepted definitions.

Compliance and regulation – millstone or opportunity: Eclipse (September 2007)

The cost of ensuring compliance with the continuing tide of statutory regulations being introduced is hitting every type of organisation, large and small, listed and privately owned, very hard. However, is this really a millstone around the neck of businesses, or should this be viewed as an opportunity to review inefficient processes and implement best practice? Those who take the positive approach will emerge as a much slicker and more efficient organisation. Whether it is the Financial Services Authority (FSA) regulations, Sarbanes-Oxley, International Financial Reporting Standards (IFRS) or other industry/country-specific regulations, all types of business must face up to the fact that comprehensive procedural and process analysis reviews will need to be undertaken and new technologies implemented to ensure (or at the least assist with) compliance.

Health and community enterprise solution: TechnologyOne (August 2007)

As in all sectors, health and community organisations are experiencing an unprecedented period of change. An environment of escalating regulatory requirements, increasing demand for services and a proportionally decreasing funding base will continue to place pressures on already over-burdened organisations; as will the race for additional revenue for privately run organisations. The need to optimise resources has never been greater. Whether your organisation is publicly funded or privately run, you should aim to: increase customer satisfaction – happy customers require fewer resources; increase market share – scale can provide cost efficiencies; reduce total cost of ownership of IT systems – leverage your investment in IT; keep pace with regulatory requirements and compliance – you can’t afford not to; streamline your supply chain – ensure you optimise your purchasing; maximise your overall profitability – a delicate balance of all of the above; and integrate all front and back-office IT systems.

The strategic CFO: Infor (August 2007)

Finance executives must meet a growing number of complex demands and challenges if their companies are to reach the next level of profitable growth. Operational excellence around core financials is certainly essential. CFOs and their teams areexpected to standardise transactional processes and deploy effective and efficient financial systems. They must deliver strong performance in everything from cash management to regulatory compliance to merely address foundational financial requirements. But finance executives can’t stop there. To differentiate their companies and take their own careers to new levels, they must focus on strategic financials. They need to provide forward-looking insight that enhances strategic planning and decision making. They must extend the capabilities of their financial systems beyond core activities into new areas, automating more processes and driving productivity gains still higher.

Financial controls and Sarbanes-Oxley: Lawson (August 2007)

Meeting Sarbanes-Oxley (SOX) Section 404 and 409 financial auditing and reporting requirements is a major challenge for publicly traded companies in the United States. Similar legislation introduced by the European Union adds to the challenge for multinational businesses. Extensive reviews of financial controls by hundreds of companies during 2004-2005 revealed that for mid-market and larger businesses, ‘control’ over SOX auditing and reporting requirements requires identifying and monitoring thousands of interactions involving employees, financial accounting and ERP applications, other IT systems, third-party outsourcers and subcontractors. Lawson Software suggests a framework for putting the SOX compliance challenge into perspective and simplifying and streamlining the process by leveraging the power of ERP, workflow automation, and automated SOX control management activities.

Corporate financial management in enterprising companies: Infor (May 2007)

On the wrong side of a software acquisition: FSN Publishing/ CODA (May 2007)

The widely predicted shakeout of the software market for ERP and financial solutions is well underway. The software industry, like many other sectors before it is consolidating, fuelled by the effects of rampant globalisation, the convergence of technology and liquid capital markets with an apparently inexhaustible supply of funding for mergers and acquisitions. But the impact of this turmoil on customers is frequently underestimated, especially by the deal makers, investment bankers and private equity houses. Whilst companies can readily change their supplier of fleet cars, recruitment services, banking, insurance and air travel, the same is not true of their software supplier. ERP and financial software is part of the ‘DNA’ of a company that threads its way through every functional area and business process. It can be a source of strategic advantage that imbues an organisation with competitive edge, as well as day-to-day processing efficiency. Moreover, in today’s networked economy, systems reach out beyond strict organisational boundaries and deeply into the supply chain, customers’ and other stakeholders’ systems.

A director's guide: creating competitive advantage: Access Accounting (May 2007)

Most business people would agree that the ability to perform well in a competitive marketplace is essential to the success of any enterprise. The advances in global communications and the opening up of emerging economies over the past decade have accentuated the need for such performance levels. Pinpointing the factors necessary to establish competitive advantage can be a challenge – but this is a challenge well worth facing. Indeed some analysts would argue that only those companies that do successfully establish a competitive position will survive and prosper in the medium to long term. In this booklet we explore the three steps companies can take towards creating their competitive advantage: 1. Understanding what competitiveness means within their particular marketplace. 2. Identifying the key factors that contribute towards their competitive advantage. 3. Exploiting the technology benefits of their business systems to stay ahead.

Mid-sized companies and the challenges of growth: EIU/Sapphire Systems (Apr 07)

Mid-sized companies are important engines of economic growth in many countries, and they have an enormous appetite for expansion. But, as shown in this new report written by the Economist Intelligence Unit and sponsored by SAP, they face their own, very particular set of challenges as they seek to grow. A majority of survey respondents (62%) profess their firms’ intention to grow at an ‘optimal’, or sustainable rate, indicating a recognition that overly rapid growth can strain their financial, human and physical assets. The report includes the findings of a wide-ranging global survey of 3,722 senior executives – half of whom were at the level of CEO, CFO and other C-level positions – conducted by the Economist Intelligence Unit from October 2005 to January 2006. This is the flagship white paper in the mid-sized companies series, which will also include separate analyses of research findings for Europe, Asia-Pacific, Latin America, each of 18 individual countries and four sectors.

Time for change?: Armstrong Consultants (March 2007)

The decision to change your business and finance software is not one to be taken lightly. The initial recognition that there is a need for change, including a full review of the current system, can itself be a long process. Then there is the task of selecting the right package for your business from the vast array on offer – making the wrong decision can have detrimental effects on your business. This guide is designed to give you some helpful advice on what you should be looking out for throughout the key stages of the process. Even the smallest organisation now depends on accounting software packages to help them manage their business efficiently, and inevitably the time comes when the software that is relied on no longer measures up. It can take a while for the signs to be recognised. Whether it is external market forces, business growth or lack of functionality that is driving the change, a strategic decision needs to be made about what to do next.

Evaluation, selection and implementation of accounting s/w: Access (April 2006)

The decision to change your accounting software is not one to be taken lightly. The initial recognition that there is a need for change, including a full review of the current system, can itself be a long process. Then there is the task of selecting the right package for your business from the vast array on offer – making the wrong decision can have detrimental effects on your business. This guide is designed to give you some helpful advice on what you should be looking out for throughout the key stages of the process.

Extended finance: Dennis Howlett, ACR Strategies/CedarOpenAccounts (June 2005)

Recent thinking has suggested that packaged accounting software offers little business value. At a basic level, accounting software has become a commodity that can be purchased from any number of vendors and at any price you wish to pay. While this may be true when it comes to basic tick-list features, there is a point where product differentiation becomes apparent. That point is where finance meets the business. Today’s business users are asking awkward and complex questions. They want reports in formats that make sense to them. They are tired of trying to understand row and column figures prepared by accountants for accountants. They want access to information that’s buried inside the numbers and they want it presented in ways that integrate to other information that relates to the task at hand. They want to create and execute business processes in the confidence that their decisions are not only smarter but also actionable.

Profit versus process: Maconomy (April 2005)

The Profit Versus Process research report was commissioned by Maconomy to better understand how consultancies in the UK approach the issue of profitability against a backdrop of service-based processes. Petitioning board-level executives of consultancies across the country, the research finds that there are high levels of satisfaction with existing systems and processes. There is, however, a significant desire to review the influence consultancy processes have on company profits.

Integrated compliance: Richard Spong, Sterling Commerce (February 2005)

The current pursuits of industry control, self-regulation, and standardised best-practice are well-founded in terms of stakeholder protection. The pursuits are not unique to any sector. Regulations and international standards now apply to foodstuffs and consumables, corporate governance, retail commodities, education, energy, forestry and fishing, traffic and travel – in total across perhaps most aspects of both business and private life. So the finance sector is not being singled out for any special treatment in facing a barrage of inbound regulation – it’s happening all around. Yet there are some unique aspects to finance sector regulation, and the most significant of these may be the diversity of it.

Clarifying the confusion about IFRS et al: Richard Fisher, Assetware (Feb 2005)

Over the past few years, the accounting and business press has been full of articles about corporate governance, IFRS and Sarbanes-Oxley. Many of these go into a lot of technical detail, but don’t always clarify the basics. Sometimes the more you read, the more confused you become. A huge number of organisations have still not taken on board the new requirements. In fact, many are not even clear about the fundamentals. Assetware Technology’s ‘Clarifying the Confusion’ Guide, from which this briefing is extracted, has been written to clarify basic issues such as: what does corporate governance mean?; what is IFRS?; what is Sarbanes-Oxley?; and will your organisation be affected by them? The Guide alerts organisations to the issues, introduces and explains the terminology, indicates which types of organisation are affected by the different initiatives and provides a starting point for finding out more.