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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 solutions by funtionality, so that you can make accurate and informed software purchasing decisions.
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 industry financial automotive


Must-have ERP Features for the Automotive Industry
This paper summarizes the benefits an enterprise resource planning (ERP) solution provides to the entire manufacturing process,

industry financial automotive  to the Automotive Manufacturing Industry OEMs and automotive parts manufacturers rely on software solutions to help them achieve a high degree of traceability in order to accurately track all aspects of the manufacturing process and better manage their overall operations. Today's leading manufacturing solutions go beyond the historical ERP strengths of finance and accounting to give organizations the ability to achieve complete process visibility— enabling them to meet their stringent requirements and

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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

CRM for Financial and Insurance Markets RFI/RFP Template

Insurance and Investment, Marketing Automation, Sales Force Automation (SFA), CRM Analytics, Call Center and Customer Service, Professional Services Automation (PSA), e-CRM, E-Mail Response Management, Industry Vertical Module Availability, Product Technology  

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Documents related to » industry financial automotive

Salesforce.com Offers Financial Industry Solutions


Salesforce.com announced Salesforce1 for Financial Services, with the idea to better help retail banks, wealth management companies, and insurance providers attract, connect with, and retain customers. The cloud platform leader expects significant demand for customer relationship management (CRM) solutions from private enterprises and governmental organizations.

industry financial automotive   Read More

QAD Ruling the Chinese Automotive ERP Market


QAD, a provider of enterprise applications for global manufacturing companies specializing in automotive, consumer products, electronics, food and beverage, industrial, and life sciences products, recently announced that the Automotive Edition of QAD Enterprise Applications has greater market share in China than any other ERP solution, according to the IDC report “China Automotive Industry IT

industry financial automotive   Read More

The Automotive OEMs Might Soon Contract “BRAIN” Damage Part I


While BRAIN North America may have created a notable customer base due to its products’ functional appropriateness for the lower tiers of the automotive industry, its German parent’s impending insolvency might, in the worst-case scenario, leave all of them in the lurch.

industry financial automotive   Read More

Industry Perspectives: Strategic Workforce Management in the Automotive Industry


There’s a buzz in the automotive industry around the concept of “strategic workforce management”—getting the right people, for the right job, at the right time, to improve overall business results. Strategic workforce management goes beyond the traditional role of human resources: it’s a strategic initiative and competitive weapon to help today’s automotive companies drive corporate goals and objectives.

industry financial automotive   Read More

Oracle Financial Analyzer to Hyperion Planning Migration


This paper focuses on identifying the similarities and differences between Oracle Financial Analyzer (OFA) and Hyperion Planning (HP). For users who are migrating, or thinking of migrating, to Hyperion Planning, strategies will be discussed to ensure their existing functionality can be replicated in HP. The paper is aimed at users who are familiar with OFA or similar multidimensional database applications.

industry financial automotive   Read More

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.

industry financial automotive   Read More

American Pet Goods Industry Suddenly Moves to Cloud?


I'm not sure what happened in the US animal goods industry yesterday, but a bunch of the industry players have simultaneously announced newly selected ERP packages. NetSuite seems to occupy the majority of yesterday's announcements: five companies have decided to switch to NetSuite's cloud-based ERP package and get rid of existing legacy applications. However it's not 100% clear from the press

industry financial automotive   Read More

A Smarter Way through Your Extended Close Cycle–Automated Financial Close Management (FCM)


Weeks of effort go into closing, consolidating, preparing, executing, and adjusting final numbers and narratives to report on any given financial period. Most companies use unconnected spreadsheets, email, and word processing documents to conduct the extended close cycle, from closing their books to filing their reports. But, all too often—and sometimes only hours before a filing deadline – financial close teams are made aware of a last minute change to the numbers.

A manual, disconnected extended close process that only loosely connects activities spanning the close process is too risky and inefficient. Even a small change made incorrectly during the final hours before a period closes can expose a company to the risk of financial errors and missed deadlines.

This paper reviews the processes involved in a company’s extended financial close process, the problems associated with a manual effort, and the benefits of using an integrated and automated single-platform solution for financial close management (FCM).

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A Delicate Dance of Supply & Demand, Part 1: A Primer on Dairy Industry Complexity


The dairy industry is grueling. For farmers, the past decade has been a roller coaster of soaring fuel and feed prices and plummeting dairy sales prices, crushing many industry veterans. This white paper is intended to provide a baseline understanding of the historic and present-day challenges players in the industry face that are largely the product of governmental involvement and outside their individual control.

industry financial automotive   Read More

Coficab Group Standardizes on Infor LN for Automotive


Infor recently announced it has signed a contract with Coficab Group, one of the biggest worldwide suppliers of wires and cables for the automotive industry, involving a comprehensive multinational, multi-site implementation. Infor LN for Automotive is designed to facilitate the standardization of systems and easier reporting throughout Coficab Group.

industry financial automotive   Read More