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Software Functionality Revealed in Detail
We’ve opened the hood on every major category of enterprise software. Learn about thousands of features and functions, and how enterprise software really works.
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Compare Software Solutions
Visit the TEC store to compare leading software solutions by funtionality, so that you can make accurate and informed software purchasing decisions.
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 aleksey osintsev address


POS Software Evaluation Center from Technology Evaluation Centers (TEC) Revamped to Reflect Current Challenges in Retail Management
While high real estate costs and the cost of labor are large contributors to the number of store closures over the past few years, the increase of online

aleksey osintsev address  prefer to shop,” said Aleksey Osintsev, Senior Research Analyst at TEC. The revamped software evaluation center includes general retail management solutions, applicable to most retailers, which include more features and functionality to meet the current demands of the industry. Most notably, cloud deployment and mobile functionality have been added, along with advanced capabilities in core areas such as price management and inventory management.   Check out the TEC Point-of-Sale (POS) Evaluation

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Software Functionality Revealed in Detail

We’ve opened the hood on every major category of enterprise software. Learn about thousands of features and functions, and how enterprise software really works.

Get free sample report
Compare Software Solutions

Visit the TEC store to compare leading software by functionality, so that you can make accurate and informed software purchasing decisions.

Compare Now

Radio Frequency Identification (RFID)

Radio frequency identification (RFID) criteria cover tags and storage devices, readers, wireless hubs and servers, and the middleware necessary for evaluating an RFID system deployment. RFID systems are used in different situations that require the tracking of unique items. RFID tags, in the context of enterprise resource planning and supply chain management, make items visible from manufacturing through distribution. RFID tags may be used to carry basic information such as an address, to more complex information used at different stages of an assembly line.  

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Epicor Insights 2013


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Supply Chain Shorts for the Week of March 25, 2013


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TEC Vendor Challenge: ERP, and Disruptive Innovations and Strategies


Technology Evaluation Centers (TEC) is putting all its expertise and experience behind hosting the upcoming TEC Vendor Challenge, September 18–19, in Montreal, Quebec. The idea behind the TEC Vendor Challenge is to provide enterprises with an efficient way to see a number of major software vendors demo to a common script over the course of 1 to 2 days. By offering a set number of registrations,

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TEC Industry Watch: Enterprise Software News for the Week of July 16, 2012


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A Framework for Successful Server Virtualization


Like other successful technology solutions, once proven in an enterprise environment, virtualization spreads quickly. While virtualized resources can address your growing capacity needs, they can also pose significant challenges—with long-term success depending on how well you can manage the virtualized system. Learn about what tools you’ll need in order to provide seamless physical and virtual server management.

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Ultimate To Enhance Human Capital Management Offering


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Cincom Enterprise Management


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Sales Forecasting for Your Business Advantage


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Rover Data Systems


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TEC 2012 Financial Software Packages for Medium and Large Enterprises Buyer's Guide


Accounting and financial management is one of the most mature enterprise software markets, but that doesn’t mean it’s stopped evolving. TEC analyst Aleksey Osintsev walks you through the latest developments in financials and accounting solutions and looks at how trends like cloud computing, mobility, and social media are reshaping the industry. The guide also includes feature lists, vendor comparison charts, thought leadership from industry experts, and real-world case studies.

Accounting and financial management software is among the first software applications to have been adopted by organizations of all sizes and in all types of industries. In fact, the software has been around almost as long as computers have been in use. As the general concepts and principles of accounting follow objective, rational rules, it was relatively easy to develop accounting packages and to have them gain quick and widespread acceptance within the business community as a powerful tool for managing the financial activities of a business unit or entire organization. It’s hard to imagine that any company or governmental organization today could function without an accounting package in place— from micro businesses with a few users to national governments and global multinational enterprises with hundreds of users performing accounting and financial management work on a daily basis. With ample experience in accounting software, today’s tech-savvy financial managers and controllers are looking for software that not only is capable of performing accounting transactions and generating a standard set of quarterly and annual reports, but also is flexible enough to absorb and accommodate changes in the economy, business realities, and technological trends; is sufficiently rich and scalable to address a number of daily operations challenges; and is easy to work with. This buyer’s guide examines the major issues that medium and large businesses experience with financial and accounting processes, and looks at what various solutions can offer to mitigate those problems.


Table of Contents


Financial Software Packages for Medium and Large Enterprises

State of the Market

Evaluating Accounting and Financial Software

Conclusion

Vendor Solutions


TEC Resources for Financial Software Packages

Casebook

Acumatica Customer Success Story : Acumatica Reduces Time and Cost of Producing and Distributing Reports with a Consolidation Solution

Cougar Mountain Software Customer Success Story: Noah’s Restaurant

Microsoft Dynamics AX and Ignify Customer Success Story: Consumer Electronics Distributor Automates Processes and Improves Worker Productivity with Microsoft Dynamics AX

Pronto Customer Success Story: Hobart Canada—Developing a Recipe for Success

Sage ERP X3 Customer Success Story: Carson Home Accents Improves Service and Cuts Overhead Using Sage ERP X3

Sage ERP Solutions White Paper: Transforming Finance into a Strategic Resource

SYSPRO ERP Software Customer Success Story: Annabelle Candy Finds Sweet Success with SYSPRO ERP Software

UNIT4 Customer Success Story: UNIT4’s Coda Financials Solution Preferred by GSO Group over Incumbent ERP Solution


TEC Partners Resource Directory

Vendor Directory


Download the full copy of the TEC 2012 Financial Software Packages Buyer’s Guide for medium and large businesses.



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Issues Faced by Accounting Departments


As accounting and financial departments and associated business processes are an inherent part of any commercial or non-commercial organization, these departments face the same challenges as the rest of the company—a need to keep the business competitive and respond to tough competition during difficult economic times, attract and retain customers, provide an extremely high customer support and service level, constantly review and improve business processes, and many others. At the same time, accountants experience challenges and business pains owing to their specific accounting and financial management processes and tasks. Following is a list of major challenges and issues faced by accounting and financial departments with regard to these processes and procedures.

  • Accounting and financial activities and internal processes must conform to various types of standards and rules, from international regulations such as the Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS) to local or even municipal requirements. This is exacerbated by confusing taxation and reporting regulations prescribed by law. The task becomes much more complicated upon company expansion and entry into different markets, regions, or countries— in which case accounting and reporting processes must comply with multiple standards simultaneously. And at this point, the process of financial and reporting data consolidation becomes a non-trivial and constantly changing task—financial managers and their employees must always keep abreast of these changes.


  • Relatively recently, the need has emerged to accommodate alternative accounting models and non-standard accounting and financial management principles, in addition to or as substitutions for traditional ones. Lean accounting is an example of such a model. Unlike traditional accounting practice requirements, lean accounting looks to calculate and track added value streams, sees a company’s assets and expenses in a different way (e.g., inventory as waste to be minimized or eliminated rather than simply a company’s assets), and generate profit-and-loss statements based on lean principles instead of GAAP or IFRS or in parallel to mandated (i.e., traditional-type) reports.


Download the full copy of the TEC 2012 Financial Software Packages Buyer’s Guide for medium and large businesses.

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