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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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 oracle financial definicion


Oracle Integrates Front and Back Office with Applications 11i
On September 27, Oracle took a major step towards providing a fully integrated front and back office applications suite by launching Oracle Applications 11i at

oracle financial definicion  Summary On September 27, Oracle laid out the details of its Oracle 11i application suite, which adds new application modules and integrates enterprise resource planning, customer-relationship management, supply-chain, and E-business applications in a single database. The new release, unveiled at the Oracle Applications User Group conference in Orlando, will do away with the company's separate releases for ERP and CRM. By linking all applications together, Oracle claims that companies can now get a

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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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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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Oracle Delivers New Oracle Retail Allocation Release


Retail is indisputably one of Oracle’s major industries of focus where the giant has made significant investments, both in terms of acquisitions and in-house development. Oracle’s strategy is to provide retailers with a complete, open, and integrated suite of business applications, server, and storage solutions that are engineered to work together to optimize every aspect of their business. All of

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Oracle Closes the Business-IT Gap with the Latest Oracle BPM Suite 11g Upgrade


In today’s competitive landscape, businesses face great pressures to streamline their processes and increase their agility. TEC principal analyst P.J. Jakovljevic takes an in-depth look at how the latest features of Oracle Business Process Management Suite 11g enable business users to seamlessly and rapidly design and implement their business processes, without having to rely on overstretched IT resources. Download the report.

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Oracle FSM—One Name, Three Different Products


In this report, TEC research analyst Raluca Druta delves deep into Oracle's approach to addressing the current demands of the field service management (FSM) market. Read the report and find out how Oracle's three different FSM product lines and recent strategies and partnerships enable the software giant to provide strong customer engagement and great customer experiences.

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The 2011 Buyer's Guide to Accounting and Financial Software


Too often, finance professionals must contend with outdated financial and accounting systems that present spiraling overhead costs, functional limitations, and unnecessary risks. And that makes it challenging for them to respond to complex business issues such as frequent regulatory change and increased compliance challenges--as well as requirements for visibility across multiple entities, currencies, and tax and regulatory frameworks. Download this buyer guide for a comprehensive overview of how cloud computing can help, including a handy chart comparing software delivery models and vital tips for evaluating cloud solutions for finance and accounting.

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Align Financial Processes and Systems for Better Business Value and Compliance


Financial business process professionals need to coordinate financial process life cycle activities in order to enhance the value of information within the business, and drive better execution of compliance measures. But too often, automation and integration gaps discourage their efforts. Download this report to learn how to integrate and automate these activities, and improve your ability to make strategic and tactical decisions.

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Oracle Warehouse Builder: Better Late than Never?


Close to a year behind schedule, Oracle released Warehouse Builder to the market. Oracle, in an interesting contradiction in terms, has stated that the product is “already in production at nearly 20 beta sites.” But is it too little too late?

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Modeling Oracle Workloads


This info sheet looks at how to test and validate Oracle database application performance in a pre-production environment. Find potential storage bottlenecks, compare performance of different storage arrays, and identify optimal configurations.

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Canadian Financial Executives Research Foundation


The Canadian Financial Executives Research Foundation (CFERF) is the research institute of Financial Executives International Canada (FEI Canada). CFERF studies financial management issues.

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Financial Packages RFI/RFP Template


General Ledger, Accounts Payable, Fixed Assets, Cost Accounting, Cash Management, Budgeting, Accounts Receivable, Financial Reporting, Project Accounting, Product Technology

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