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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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 financial commentary


The Financial Close: Optimizing Performance and Driving Financial Excellence
“Financial close” is a company’s ability to complete accounting cycles and produce financial statements for internal management and external legal reporting@and

financial commentary  you map your existing financial close process, including key dates and durations, to identify your critical path and the challenges. For example, you could look at the time it takes to submit packages from reporting units, the time to complete the consolidation process, and the time to announce the final consolidated figures. Senior sponsorship on project objectives and the resources required to achieve them are key to success. The second stage is the implementation of your quick wins. These serve to

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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

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 » financial commentary

Epicor Financial Management Software (v. 9.05) for Financial Packages Certification Report


Epicor Financial Management Software (v. 9.05) is now TEC Certified for online evaluation of financial packages in TEC’s Accounting Evaluation Center. The certification seal is a valuable indicator for organizations relying on the integrity of TEC research for assistance with their software selection projects. Download this report for product highlights, competitive analysis, product analysis, and in-depth analyst commentary.

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Oracle E-Business Suite (12.1) for Financial Packages Certification Report


Oracle E-Business Suite (12.1) is now TEC Certified for online comparison of financial packages in TEC's Evaluation Centers. The certification seal is a valuable indicator for organizations relying on the integrity of TEC research for assistance with their software selection projects. Download this report for product highlights, competitive analysis, product analysis, and in-depth analyst commentary.

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Microsoft Dynamics GP 10.0 for Financial Packages Certification Report


Microsoft Dynamics GP 10.0 is now TEC Certified for online evaluation of financial packages in the Accounting Evaluation Center. The certification seal is a valuable indicator for organizations relying on the integrity of TEC research for assistance with their software selection projects. Download this report for product highlights, competitive analysis, product analysis, and in-depth analyst commentary.

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ERP Software Review: Infor VISUAL ERP Software


This enterprise resource planning (ERP) software review report examines the ERP software by Infor and its support for discrete manufacturing, engineering-to-order (ETO) manufacturing, mixed-mode manufacturing, small to midsize business (SMB) manufacturing, and financial packages processes against known benchmarks. It assesses Infor VISUAL by Info for ERP functionality and reviews product’s support capacity with a focus on:

  • Financials
  • Human Resources
  • Manufacturing Management
  • Process Manufacturing Management
  • Inventory Management
  • Purchasing Management
  • Quality Management
  • Sales Management
  • General Ledger
  • Accounts Payable (A/P)
  • Fixed Assets
  • Cost Accounting
  • Cash Management
  • Budgeting
  • Accounts Receivable (A/R)
  • Financial Reporting
  • Project Accounting

The report also contains an independent analyst’s review of the ERP software based on demonstration provided by Infor. The review identifies the features of Infor VISUAL that distinguish it from other ERP manufacturing solutions, including its distinctively illustrative data visualization-focused interface, and its focus on discrete order-driven manufacturing operations with support to all facets of complex manufacturing operations. The analyst also outlines the software provider’s implementation process, support model, and target user base.

The DEACOM ERP software review identifies the features of DEACOM ERP that distinguish it from other ERP for process manufacturing solutions. These include its supplementary ERP features tailored for process manufacturers’ needs such as maintenance repair and operations (MRO), warehouse management systems (WMS), electronic data interchange (EDI), customer relationship management (CRM), and direct store delivery (DSD). DEACOM ERP provides business management support to process manufacturers in the areas of financials, process manufacturing management, purchasing management, quality management, and sales management.

Infor VISUAL achieved TEC certification status for its ERP software solution by completing TEC’s program which includes a detailed functional benchmarking analysis as well as conducting a demonstration of its discrete manufacturing, ETO manufacturing, mixed-mode manufacturing, SMB manufacturing, and financial packages software solution based on a provided demo script.

Infor VISUAL achieved TEC certification status for its ERP software solution by completing TEC’s certification program, which includes a demonstration of the ERP software’s support for specific real-world business process and a detailed functional benchmarking analysis.

Based on a demonstration of Infor VISUAL, a TEC analyst has assessed the ERP software’s features, evaluating the software against known industry benchmarks, to determine that Infor VISUAL is a strong manufacturing ERP system.

Download this software review report for product analysis and comparison, and in-depth analyst commentary, and to learn more about how Infor VISUAL ERP can help to-order manufacturers achieve these ERP objectives.

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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.



Report Preview


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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Financial Excellence: Closing Your Books Quickly


Find out in the white paper the financial close: optimizing performance and driving financial excellence.

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Best-of-Class Financial Systems: an Alternative to ERP


In Best-of-class Financial Systems: An Alternative to ERP, find outhow a best-in-class financial system might deliver all the functionalityyou real...

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Oracle Financial Analytics


Oracle Financial Analytics helps front-line managers improve financial performance with complete, up-to-the-minute information on their departments' expenses and revenue contributions.  

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Financial Excellence: Setting the Foundation for Business Success


To effectively track and forecast your company’s financial performance, you need up-to-date and reliable financial data. As your business grows and diversifies, you need to maintain liquidity and manage cash flow and profits. Integration of your business transactions and operational data with financial data makes this possible, and helps you eliminate departmental silos and streamline your business operations.

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Use Financial Analytics Solutions for Bigger Profits


And you can learn about it in the executive brief financial analysis clears the profit haze.

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