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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 metrics planning examples


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 metrics planning examples  Wealth | Key Retail Financial Services Metrics | SAP Financial Excellence | SAP Excellence in Financial Management | SAP Achieve Superior Financial Performance | SAP Integrated Financial Management Solution | SAP Financial Excellence Achieve | SAP Optimize Financial Processes | SAP Performance Management Financial Excellence | SAP Keys to Financial Excellence | SAP Promote Financial Reporting Excellence | SAP Financial Implications of Promoting Excellence | SAP Business Process Excellence in Financial Ser

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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

Demand Management RFI/RFP Template

Promotion Planning, Pricing and Profit Optimization, Forecasting, Merchandise Planning, Life Cycle Planning, Consensus Planning,Collaborative Planning, Sales and Operations Planning (S&OP), Vendor Managed Inventory (VMI) Replenishment, Event Planning, Metrics and Reporting, Demand Management Systems Architecture, Product Technology  

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Not Small Change: World-class Financial Automation Delivers Dramatic Benefits


Automating finance processes—such as closing the books, reporting, and other labor-intensive processes—reduces finance costs. By streamlining financial processes, you can spend more time on higher-value responsibilities and help ensure your company has a competitive advantage. Find out about the financial solutions many financial managers are implementing to automate their financial processes and financial transactions.

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Sales and Operations Planning: The Key to Continuous Demand Satisfaction


All companies use some form of sales and operations planning (S&OP) to synchronize market data with production output. But most practice a planning process based on logistics rather than strategy. Taking a more strategic approach, however, the S&OP process can be designed to bring together a company’s marketing, finance, sales, and operations departments to continuously monitor—and meet—customer demand.

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Financial Analysis Clears the “Profit Haze”


Designed to be agile and dependable, financial analysis solutions can bring clarity to the reasons behind your company’s growth, and help steer you toward future growth. Learn how financial analysis solutions enhance the value of your existing business support systems, and distill enterprise-wide information to answer the question: How can we increase revenue, maximize profits, and increase our competitive advantage?

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10 Key Steps to Effective HR Succession Planning


Two forces are driving organizations to consider succession planning as a component of overall strategy: the aging workforce and a shortfall in labor skills. Both factors will only become more pressing as time goes on. That’s why succession planning requires a long-term strategic commitment rather than a short-term (and sometimes panic-driven) effort to fill vacancies as they occur.

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CAPTure Workforce Planning


CAPTure Workforce Planning software uses internal data, plus demographic, educational and other trends, to identify talent challenges. CAPTure uses information from a wide range of sources—human resources (HR) information systems, data warehouses, the Bureau of Labor Statistics, universities, best practices, and organizational expertise—from executive strategy and HR specialist insight to line manager understanding.  

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Financial Fusion ~ E-Finance Wireless Leader?


Financial Fusion’s expands e-finance possibilities. From this point forward a client can bank anytime, anywhere, without limitation. (Of course your cell phone will not suddenly start spurting out cash….)

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A Practical Framework for Business Intelligence and Planning in Midsize Companies


Every company needs a clear set of goals and objectives to achieve maximum benefits from its business intelligence (BI) and planning projects. But a company must do more than state its goals to achieve its BI and planning objectives. It needs a working framework that provides a blueprint for success. Learn how a software solution can provide essential BI and planning functions while setting the stage for future growth.

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Reduce the Pain of ERP Upgrades with Better Planning


Enterprise resource planning (ERP) systems now support many organizations’ most important business processes, and house their most sensitive corporate data. As a result, senior management needs to fully understand both the timing and project plan before proceeding with any ERP upgrade. Learn how to plan and manage your next ERP upgrade project, and develop an overall corporate strategy for maintaining your ERP system.

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Human Resource Metrics


Metrics is a tool that allows human resources (HR) departments to develop, monitor, and drive corporate strategies through access to and presentation and analysis of human capital information. Companies can identify, track, and analyze key variables by functional area and business need. The data are graphed, over a user-defined time period, to highlight human capital trends and the interaction of key variables.

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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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