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The Renewed Finance Function: Extending Performance Management Beyond Finance
The role of the finance team has changed recently, due to increased oversight from regulators, more active investors, and company-specific changes in business

accounts and finance department work flow chart  indus- try completely automated its accounts payable and cash management functions, enabling the company to process thousands of payments every month with just two full-time employees. The company also automated its cash management activities, enabling the finance department to perform reconciliations across its numer- ous banking relationships in just a few hours a day. Because of the automated processes, the company has also reduced its bank fees, lowered its operating costs, and generated higher Read More

Financial Packages
Financial packages encompass modules for bookkeeping and making sure that accounts are paid or received on time.
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Documents related to » accounts and finance department work flow chart


Best Practices in Creating a Strategic Finance Function
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

accounts and finance department work flow chart  assets and project accounting Accounts payable and expense reporting Tax Payroll   IS COST ALL THAT MATTERS? Despite more than 10 years of lip service paid to the idea of a strategic finance function ' and the increasing strategic demands on finance ' most companies admit that, while they do want to focus more on decision support and management, they are in reality still spending almost half of their time on transaction processing (see Figure 3). However, some finance organizations have already made Read More
TradeBeam Keeps on Rounding Out Its GTM Set
TradeBeam strategic expansion, which covers the entire life cycle of global trade across order, logistics and financial settlement activities, seeks to improve

accounts and finance department work flow chart  capital in inventory and accounts receivable (AR); comply with required governmental reporting and security mandates; and measure the efficiency and performance of global trade policies, procedures and trading partners. TradeBeam believes its innovative offering represents a major step forward for companies that want to address cross-border security concerns while improving both their physical supply chain processes and their cash flow and working capital management. Figure 1 Physical and Financial Read More
The State of the Art in Finance
Thanks to recent accounting scandals and an increasingly competitive environment, many chief financial officers and the finance organizations they lead have

accounts and finance department work flow chart  assets and project accounting Accounts payable and expense reporting Tax Payroll This SAP Insight will discuss recent trends and best practices, as well as provide examples for those companies with best-practice processes, models, and technologies. Providing a Complete Picture Figure 1: 1As of August 2005 2All monetary amounts cited herein are in U.S. dollars. Study Demographics The research group encompasses a wide sampling of organization size. Although the majority of respondents are billion Read More
Bean Counter to Business Leader: 5 Strategies for the CFO
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

accounts and finance department work flow chart  reporting systems, including: New accounts Alternate or additional roll-ups New level of detail in certain areas Revised calculations Multi-GAAP reporting and reconciliation Audit-ability and transparency Companies whose financial systems lack flexibility and are difficult to change clearly will have a major headache to face, such as those whose systems are based on spreadsheets, custom coding, or departmental systems. To be in the best position for the transition to IFRS, now might be the time to Read More
ERP Solutions that Work for Your Business


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Compliance: A Work in Progress
There’s no magic bullet for compliance success@even the most experienced organizations use a combination of reliable processes and proven technologies to get

accounts and finance department work flow chart  A Work in Progress 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. Read More
How Human and Artificial Intelligence Can Work Together in Human Resources
We’ve all looked for a job at some point in our lives. We’ve gone to lots of interviews and answered silly questions like “Where do you see yourself in five

accounts and finance department work flow chart  Human and Artificial Intelligence Can Work Together in Human Resources We’ve all looked for a job at some point in our lives. We’ve gone to lots of interviews and answered silly questions like “ Where do you see yourself in five years? ” Or “ What was the most rewarding professional experience you’ve ever had? ” Why Are Those Interview Questions Silly? Because you know that the employer expects you to give a specific type of answer to a specific question. You’re not supposed to say Read More
Non-Traditional Hours: Key Strategies for Creating Flexible and Productive Work Schedules
Enabled by technology, more and more companies are now allowing—and, in some cases, requiring—employees to work flexible schedules. In this era of VoIP, Skype

accounts and finance department work flow chart  Traditional Hours: Key Strategies for Creating Flexible and Productive Work Schedules Enabled by technology, more and more companies are now allowing—and, in some cases, requiring—employees to work flexible schedules. In this era of VoIP, Skype, cloud apps, and mobile devices, some employees really can be as productive (or more so) working off-site. The advantages for companies begin with more engaged, productive workers, and lower overhead costs. So know what you need to consider for flexible work Read More
Phone System Comparison Chart
This Phone System Comparison Chart compares over 74 phone systems by 34 brands for small to big businesses. This chart also compares private branch exchange

accounts and finance department work flow chart  System Comparison Chart This Phone System Comparison Chart compares over 74 phone systems by 34 brands for small to big businesses. This chart also compares private branch exchange (PBX) and business voice over Internet protocol (VoIP) systems to help you make an educated comparison of your options. This analysis is presented in an Excel spreadsheet so you can add information to suit your analysis and presentation needs. Read More
Ask the Experts: So, This ERP Thing… How Does It Work?
TEC reader Martin K. recently wrote in with these questions:What kind of data is handled by ERP systems and how it is done? How does the interface work? Which

accounts and finance department work flow chart  the Experts: So, This ERP Thing… How Does It Work? TEC reader Martin K. recently wrote in with these questions: What kind of data is handled by ERP systems and how it is done? How does the interface work? Which departments normally use it? And who is the recommended team that should choose the ERP system? TEC analyst Alex Hankewicz says : To answer these questions, we need to take a step back and examine the evolution of ERP. ERP systems were developed as an extension of materials requirements Read More
Rising to the Challenge: Productivity in Accounting and Finance Organizations
During these challenging times companies need to do more with less. This need extends throughout the organization-and companies' accounting and finance

accounts and finance department work flow chart  to the Challenge: Productivity in Accounting and Finance Organizations 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). BEGINLYX� Read More
Fast ITSM Implementation and Efficient Process Work
The case company implemented an information technology services management (ITSM) system to support information technology infrastructure library (ITIL

accounts and finance department work flow chart  ITSM Implementation and Efficient Process Work The case company implemented an information technology services management (ITSM) system to support information technology infrastructure library (ITIL)–inspired processes. Implement Consulting Group had the project management responsibility during the entire process—from the preliminary requirement collection to selection and implementation to testing and go-live. Read More
Case Study: ServiceMax Helps Kinetico Cut Work Order Resolution Time in Half
Kinetico, a global leader in engineering and manufacturing water treatment systems, was using spreadsheets to schedule and track their technician partners and

accounts and finance department work flow chart  Study: ServiceMax Helps Kinetico Cut Work Order Resolution Time in Half Kinetico, a global leader in engineering and manufacturing water treatment systems, was using spreadsheets to schedule and track their technician partners and used e-mail to assign work orders and to debrief. As Kinetico grew, it was missing deadlines and had little insight or metrics related to service performance. See how the ServiceMax put field service back in the hands of its partners and succeed in their service operations. Read More
Social ERP Emerges, Transforms the Way People Work (Part 2)
In part one of this series, we looked at how and why social media capabilities are impacting enterprise resource planning (ERP) solutions. We looked at the

accounts and finance department work flow chart  ERP Emerges, Transforms the Way People Work (Part 2)  In part one of this series , we looked at how and why social media capabilities are impacting enterprise resource planning (ERP) solutions. We looked at the benefits of social media in ERP, social capabilities and features, and also pointed out that user adoption and corporate governance must be considered when rolling out these tools. This second post provides an in-depth look at the different approaches major ERP vendors have taken to Read More

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