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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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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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Cameleon Software to Facilitate Manitou Group’s Global Expansion
Cameleon Software, a provider of configure, price, quote (CPQ)/quote to order (Q2O) solutions for tier one organizations, recently announced that the Manitou

large construction quotation  partner able to support large deployments across several countries.

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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

Software Development Tools RFI/RFP Template

Software Lifecycle Management, Design and Analysis, Construction, Configuration Management, Documentation, Software Deployment Platform, Development Tool Technical Architecture 

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Front-office Lean-Taking Lean Manufacturing Beyond the Shop Floor


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Will a Tool Manufacturer and a Supply Chain Software Vendor "Click" in Matrimony?


The merger of traditional brick-and-mortar manufacturer Illinois Tool Works with Internet-based Click Commerce is puzzling, but has some method to the madness. Only time will tell how easily and tightly their tools will "click" with each other.

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Case Study: ThyssenKrupp


ThyssenKrupp manufactures and configures custom elevators. To shorten sales cycles, reduce costs, and simplify ordering for agencies, distributors, and customers, ThyssenKrupp opted to implement the Cameleon Commerce Suite e-commerce platform and product configurator. Sales teams can now generate accurate real-time estimates and plans, and validate configurations for their customers using 3D visualization. Find out how.

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Navigator Business Solutions Navigator One for SAP Business One (v88) for Discrete ERP Certification Report


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Tangerine Software


Founded in 1992, Tangerine Software has provided ERP solutions to over 200 mid to large size organizations in Canada and the United States. Our partners include world renowned organizations such as Sage, Infor, and IBM. In response to customer demand for a superior Business Intelligence solution, we developed and went to market with Nectari Business Intelligence in 2002. It has since become a great success with customers throughout North America.

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Case Study: Tampa Tile


Maintaining profitability was a major challenge for Tampa Tile because of the complexities of providing the construction industry with long-lead products, many of which are imported from Europe and South America. Its old enterprise resource planning (ERP) system no longer met its needs, so Tampa Tile looked for a new system that offered event management capabilities, in addition to inventory management. Learn more.

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PurchasePro Acquires Stratton Warren


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Are Data Warehouses as Dead as the Dodo? (LiveDashBoard and QlikView)


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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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PERFION


The Perfion PIM solution is designed to help companies maintain large amounts of product information in a simple manner. Information shared by many product variants is maintained via a hierarchy of shared data, which can help keep product information up to date. Perfion is fully integrated with all Microsoft Dynamics NAV and AX solutions, and works directly with live up-to-date enterprise resource planning (ERP) information, such as prices, inventories, etc. Built-in security options ensure that only users with sufficient privileges can edit information relevant to their responsibilities.  

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