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 how does technology affect finance


Beyond Boundaries: A New Role for Finance in Driving Business Collaboration
The current global economic instability means firms have to quickly adapt to business conditions. This uncertainty may increase companies’ reliance on business

how does technology affect finance  guy who says, ‘Well, how does this work? You explain it to me, and [then we can decide] if we want to do it.’ Finance’s role in assessing the right deal does not end once the relationship is established, however. The leading finance organizations are also involved with monitoring the performance of alliances and ensuring that they keep making business sense for the partners. The executives we talked to recognize that the world changes around them, and sometimes so does the rationale for

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Browse RFP templates

Visit the TEC store for RFP templates that can save you weeks and months of requirements gathering, and help ensure the succes of your software selection project.

Browse Now
Compare Software Solutions

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

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Discrete 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, and human resources). Many systems include, with varying degrees of acceptance and skill, solutions that were formerly considered peripheral such as product data management (PDM), warehouse management, manufacturing execution system (MES), and reporting. 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 foundation of any ERP implementation must be a proper exercise of aligning customers'' IT technology with their business strategies, and subsequent software selection. 

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Documents related to » how does technology affect finance

A SaaS Start-up Cautionary Tale: The Makana Experience (Or: How You Can Create a Great Product and Still Hit the Wall)


Great products and a growing customer base are not enough to succeed in the SaaS ICM marketplace. Find out why Makana, a startup SaaS vendor, found it difficult to reach profitability.

how does technology affect finance  Centive might best illustrate how difficult it is for startup SaaS vendors to reach profitability. Namely, both on-demand incentive and compensation management (I&CM) software providers respectively had great products, good partner ecosystems, and growing install bases, but neither was profitable yet. Investors and venture capitalists (VCs) can be patient only if a SaaS company grows with an acceptable CAC (customer acquisition cost) ratio. For example, an unacceptable CAC of less than 0.5 would mean Read More

How to Outsell the Competition: The Benchmarking Edge for Successful Sales Execution


Benchmarking is a process where companies compare their performance over time against their competition. In doing so, they can identify where their strengths lie and where improvement may be needed. The point of benchmarking is to focus on areas that will yield the best return. For companies to succeed in their benchmarking efforts and gain a sustained competitive advantage, five key steps should be considered.

how does technology affect finance  is computed to determine how dispersed the data is. In general, if standard deviation is 1.5 times greater than the difference between the 25th and 75th percentiles, the company should focus on reducing the variation in the current performance. If the standard deviation times 1.5 is less than the difference between the 25th and 75th percentiles, the company should focus on moving the entire group at once. The last piece of the Compare and Contrast step is to quantify the opportunity in terms of increased Read More

How to Start Down the ERP Selection Path


A decade ago, about 70 percent of major software initiatives failed, and nearly a quarter were cancelled. Today, with better data management, more flexible applications, and easier launches, there are fewer failed enterprise resource planning (ERP) programs. But some companies still manage to snatch defeat from the jaws of victory. Discover seven ERP selection rules to follow before you even start looking for a vendor.

how does technology affect finance  do, and in particular how they will know when they're done. Scope the project to involve no more than 2 hours a day (average) for a period of time not to exceed 60 days (30 days, if you don't have to re-design your current processes). Establish a clear process and timetable for deciding once your team brings you a recommendation. That will add meaning to any deadlines they have. 4. Pick the right team for the job. Hint: it's not your core management team, at least not the whole team. In particular, Read More

Managing Transaction Tax Audit Risk: How to Protect Precious Cash Flow by Proactively Addressing Audits


Even in the best economic times, businesses must be vigilant against unnecessary costs and risks. But not just businesses need to be vigilant—states and other tax authorities are feeling the same economic pinch, and are ready to seek out non-compliers with tax reporting. Get tips on how to survive sales and use tax audits, starting with understanding your exposure to audits and how to avoid them right from the start.

how does technology affect finance  risks. The question is, how does a company construct this type of proactive defense, cost-effectively and quickly? When to leverage outsourcing Outsourcing key business processes, especially those requiring specialized domain expertise, has become an accepted and highly effective way for companies to achieve back-office efficiencies while avoiding large capital expenditures. The selling points of business process outsourcing are reduced costs (both upfront and ongoing), lower risk, and rapid Read More

Voting Technology: An Evaluation of Requirements and Solutions


The issues created by the use of punch card ballots, an obsolete technology, during the recent US Presidential election are similar to the ones that businesses confront every day when dealing with technological change. It is therefore instructive to examine voting technology issues in the way that most businesses would approach an important information technology decision.

how does technology affect finance  therein lies a dilemma. How will workers at a polling place know whether or not a prospective voter has already cast a ballot elsewhere, over the Internet? Conversely, what would prevent someone from casting a duplicate ballot over the Internet, after they cast their first ballot at a polling place? Technologists will reply that interactive, on-line voter registration and tracking systems are the answer. Poll workers can instantly determine if a prospective voter has already cast their ballot, as can the Read More

Sagent Technology Teams for Telco e-Business


Sagent Technology has announced a new vertical application for Digital Subscriber Line (DSL) e-commerce. They have partnered with DSET to use Sagent’s spatial analysis and real-time geographical data access to determine a customer’s qualification for DSL service.

how does technology affect finance  Technology Teams for Telco e-Business Sagent Technology Teams for Telco e-Business M. Reed - June 2, 2000 Event Summary Sagent Technology Inc. (Nasdaq: SGNT), a provider of Real-time e-Business Intelligence solutions, announced a strategic partnership with DSET (Nasdaq: DSET), a provider of business-to-business e-commerce connectivity solutions for the global telecommunications marketplace, to enable telecommunications companies to quickly and efficiently determine a customer's qualification for Read More

InetSoft Technology


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Flowring Technology Corp.


Flowring has devoted to BPM total solutions for years. The complete solution underlying the process-orientated information system leads enterprises operation under control in real time and offer approach to run their own business much more efficiency and flexibility. With the most advanced business process management technologies available, Flowring’s BPM solutions give companies the ability to anticipate, react, and execute faster and better than the competition they meet. Flowring now only offers completed BPM product, but also leads enterprise users to experience further e-business concepts composed of Process Thinking, Working Knowledge, Intelligent Workspace, and Process Enterprise. We assist enterprise to rethink their operation analysis and action mode through Process Thinking, and also lead enterprise to apply their accumulated operation intelligence to their business process reengineering. Furthermore, we offer knowledge worker a friendly and intelligent work interface, and create a new generation of process enterprise based on human being as principle.

how does technology affect finance  business process consulting company,business process flow,business process improvement software,business process modeling,business process modeling software,business process performance,business process solution,flowring technolgy corp.,process improvement tools,product information software,software process integration Read More

Engate Technology


Engate Technology is a provider of anti-botnet and e-mail security solutions.

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Aligning Information Technology with Corporate Strategy


Aligning information technology (IT) with corporate strategy is key to maximizing the business impact of IT investments. Tree Top's structured process of reviewing proposed IT investments will allow an enterprise to understand this alignment, and prioritize investments.

how does technology affect finance  planned a phased implementation, how could they ensure that they would get the most important results, relative to objectives, as fast as possible? They also wanted to understand how the new system could help them measure their progress towards the objectives. Tree Top decided that Intentia was the leading contender for their needs. They saw an excellent fit between Intentia's Application Suite product and their business requirements. Intentia introduced Tree Top to their Opportunity Analyzer (OA) tool. Read More

Upp Technology


Upp Technology is a nationally recognized consulting and solutions provider for today's leading healthcare, government and commercial organizations. Our innovative technology solutions bring together cutting-edge technology and real-world expertise to reduce costs, maximize efficiency and minimize risk.

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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 operations. What steps are companies taking to respond to the internal and external forces? Find out how finance often repairs core finance and operating activities, as exposed in the results of a survey and a series of interviews among senior finance executives.

how does technology affect finance  activities. Consider, for example, how some of these issues play out at MGM Mirage. As the gaming company enters new business arenas in response to the industry's mature, highly competitive environment, it's incumbent upon finance to gather different information in support of these new arenas (requiring, in fact, some technology investments). But constrained resources mean that finance still lives with some manual processes, reports Rick Arpin. We've been able to find systems that can do what we want in Read More

Increase Technology Rollout Service Efficiency


When companies have technology rollouts to deploy on a nationwide or global scale, service efficiency is critical. By understanding the details of the Rollout Services Model, they can avoid the potential nightmares of project implementation and increase the chances that projects are completed on time and within budget. Learn how to evaluate a technology rollout company effectively and ensure that you are getting the most efficient and cost-effective implementation system for your technology deployment projects.

how does technology affect finance  and within budget. Learn how to evaluate a technology rollout company effectively and ensure that you are getting the most efficient and cost-effective implementation system for your technology deployment projects. 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 started to take on new roles within the enterprise. However, given the current state of the finance function in US companies, companies first need to understand the challenges to finance—and the road map to increasing its strategic capabilities.

how does technology affect finance  capacity. Let's first discuss how the right use of information technology leads to greater efficiency and lower costs. First, the APQC survey showed that companies with a higher degree of automation have lower overall finance costs. Companies that had automated more than 66% of their finance processes had average finance costs of 1.2% of revenues, while companies with less automation had average finance costs of 3.0% per revenue. For example, companies that relied on manual techniques or spreadsheets for Read More