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Making the business case for software change: Access (August 2010)

Is your current software holding your company back? If you recognise any of the issues below, then your organisation has probably reached or even surpassed the limits of your current software and it now represents a barrier to growth. If you can demonstrate some or all of these characteristics in your systems, you can start to build a case for change: your software just isn’t performing – eg, runs too slowly and is prone to failure; the software is unable to cope with increased transaction volumes or staff numbers; there’s a lack of user confidence in the figures presented by your current software; you’re not getting the depth of analysis you need, based on restrictions in the software; your financial data is always out-of-date; the production of management reports is an onerous task every month; you are unable to share essential information with other areas of the business because your systems are not seamlessly integrated; you have developed ‘workarounds’ outside of the system to overcome software limitations...

Evaluating, selecting and implementing accounting software: Access (August 2010)

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. This is the time to sit down and really think hard about your business. Think about the future. What is your five-year business plan? It is essential to be clear what your needs are now and what they will be in a few years’ time. You don’t want to have to make another change a couple of years down the line. Think about your competitors. Take a step back and view your business system from a competitive perspective. Which accounting software packages do your competitors use? Have they customised their choice of software to maximise the benefits for your industry?

Planning and implementing shared services: UNIT4 Business Software (August 2010)

Over the past decade companies and public sector organisations have operated in a market increasingly characterised by complex globalisation, mergers and acquisitions, and the pressure for improved value. CFOs have faced the triple challenges of creating an administration that adds value, deploys consistent high quality global e-business processes, and provides business transaction processing at increasingly low unit costs – typically at less than 0.5% of total revenue. Since the ‘credit crunch’ and subsequent global financial crisis, those pressures have intensified as firms look to become more cost-effective to ride out the economic downturn and emerge a leaner, more efficient and effective organisation. Enterprise-wide visibility and control is vital in an environment increasingly threatened by fraud and heightened complexity resulting from changing legislation or the pressure to achieve increased efficiencies and greater departmental collaboration.

Success secrets of high-performing finance teams: Sapphire Systems (April 2010)

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. This comprehensive perspective – covering core and strategic financials – is known today as corporate financial management (CFM). As CFOs focus on addressing these strategic and operational challenges, they will have to invest in CFM systems and applications that enable them to meet their objectives.

Reporting headaches: nine ways to remove the pain: Symmetry (March 2010)

Given that report-writing isn’t such a burden for all organisations, what are the secrets behind producing fast, precise & customised financial information? By implementing the following steps you could eliminate your reporting headaches forever: 1. Learn to let go…of Excel. It may just be the toughest decision you have to make, but the biggest obstacle to proficient reporting is a reliance on Excel. Just importing data from one system to another can be complicated enough, never mind the formulae that have to be applied to get the right results. Although Excel can be a very powerful tool for standalone scrutiny of data, when it’s used for reporting it is really just another vehicle where raw information can potentially be corrupted. Whether data is deleted accidentally or copied twice, using Excel can frequently accrue more mistakes than you started with. By cutting out the middleman, why not collect information directly from third-party applications and deliver it straight into the core finance system ready for report generation?

Breaking down the barriers to business: Sage (January 2010)

It’s a given that information is the lifeblood of the 21st century organisation. Organisations that seek the elusive goal of a single view of the customer need first to instil an information-sharing culture throughout the company, not simply attempt to apply a quick technology fix. But too many companies find themselves locked into a situation where information is held in zealously guarded silos by departments that are not incentivised to share it. Office politics and jostling for position on the corporate hierarchy, as well as a desire to protect your own back, mean that the organisational culture acts as an impediment to the free flow of information that could assist the bottom line. All departments need to be able to put information into and get information out of a single system, rather than hoarding their own slice of it in departmental sub-systems.

A step-by-step guide to managing key performance indicators: IRIS (January 2010)

This document presents some simple ideas that we hope will help you manage your business in a more efficient manner. Essentially, we’re hoping to debunk some of the nonsense and over-complexity surrounding KPIs, analysis, reporting and measurement. These ideas come from experience on both sides of the ‘business intelligence’ fence – technology suppliers and business managers. We have applied them to a business scenario which we hope incorporates ideas and issues that you will recognise. However, every profession and business is different and we would be delighted to hear from you directly to help you understand if and how this technique will be useful to your businesses, and if we have solutions available that can help you gain business advantage.

The guide to becoming a successful FD: IRIS (June 2008)

Too many of the UK’s small to medium-sized enterprises (SMEs) are failing to maximise their commercial opportunities because they simply have neither the time nor ability to proactively monitor and assess business performance. Bogged down with the tedious creation of month-end management accounts and regulatory reporting, far too much time is spent number crunching – leaving little or no opportunity for basic analysis of business performance against key targets, or the business plan. There are, however, some simple steps that can be taken to transform the situation: enable real-time access to relevant management information; integrate the spreadsheet with financial software to provide consistency; design one-page dashboard KPI report; utilise exception reporting and alerts for real-time management; automate reporting processes to reduce time spent on report generation; leverage online technology business to improve business value; empower budget holders with real-time access to financial information; and reduce paper and streamline processes to reduce costs. This white paper provides a brief overview of techniques for improving the day to day life of the beleaguered financial director – with some examples of just how other SMEs across the UK have followed these steps and achieved quantifiable business improvements.

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

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.

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.