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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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ORSA, the Corner Stone of the Solvency II Regime
The move toward principle-based regulations across the European insurance world puts a strong emphasis on corporate governance programs. Under their Own Risk

e mail and log case assignments to appear in the queue for the team  the Corner Stone of the Solvency II Regime The move toward principle-based regulations across the European insurance world puts a strong emphasis on corporate governance programs. Under their Own Risk and Solvency Assessment (ORSA) plans, insurance firms have to align their enterprise risk management processes with their strategic business plans. This article looks, in more detail, at some of the main Solvency II ORSA requirements, and how European insurance companies can use enterprise risk

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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

Process Manufacturing (ERP)

The simplified definition of enterprise resource planning (ERP) software is a set of applications that automate finance and human resources departments and help manufacturers handle jobs such as order processing and production scheduling. ERP began as a term used to describe a sophisticated and integrated software system used for manufacturing. In its simplest sense, ERP systems create interactive environments designed to help companies manage and analyze the business processes associated with manufacturing goods, such as inventory control, order taking, accounting, and much more. Although this basic definition still holds true for ERP systems, today its definition is expanding. Today's leading ERP systems group all traditional company management functions (finance, sales, manufacturing, human resources) and include, with varying degrees of acceptance and skill, many solutions that were formerly considered peripheral (product data management (PDM), warehouse management, manufacturing execution system (MES), reporting, etc.). While during the last few years the functional perimeter of ERP systems began an expansion into its adjacent markets, such as supply chain management (SCM), customer relationship management (CRM), business intelligence/data warehousing, and e-Business, the focus of this knowledge base is mainly on the traditional ERP realms of finance, materials planning, and human resources. The old adage is "Such a beginning, such an end", and, consequently, many ERP systems' failures could be traced back to a bad software selection. The foundation of any ERP implementation must be a proper exercise of aligning customers' IT technology with their business strategy, and subsequent software selection. This is the perfect time to create the business case and energize the entire organization towards the vision sharing and a buy in, both being the Key Success Factors (KSFs). Yet, these steps are very often neglected despite the amount of expert literature and articles that emphasize their importance.    

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Managing the Process of Process: Establishing the Right Goals and Improving Operations and Systems to Hit the Mark


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