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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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 select financial systems


Technology Evaluation Centers presents
Technology Evaluation Centers Inc. (TEC), the leading resource for impartial enterprise software selection, announced today that it will be holding a session at

select financial systems  Centers presents How to Select ERP Systems at the MSCI Financial Executives Conference. Technology Evaluation Centers presents How to Select ERP Systems at the MSCI Financial Executives Conference. MSCI members can leverage TEC's Best Practice Methodology for Software Selection. Montreal, Quebec, June 23, 2008- Technology Evaluation Centers Inc. (TEC) , the leading resource for impartial enterprise software selection, announced today that it will be holding a session at the prestigious MSCI (Metals

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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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Documents related to » select financial systems

Is Ross Systems Up To A Hat Trick?


Ross Systems, the struggling ERP vendor that many have all but written off, might be voicing with its second consecutive profitable quarter that ‘the fat lady has not sung’ as yet.

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ERP Systems Buyer’s Guide


The implementation of an enterprise resource planning (ERP) system to automate business processes is a strategic investment. Buying the right system and choosing the best vendor for you are critical to a successful ERP implementation. As a decision maker, you need to quickly identify your ERP requirements, effectively communicate these needs to vendors, and successfully compare various product alternatives. Learn how.

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Compliance Exposures in ERP Systems Part 1


This paper examines key issues for CFOs and CEOs in managing ERP systems in the new world of SOX, IFRS, Basle II. While most IT management attention seems to be on document retention, reporting quality, and security, there are broader issues to be considered toward ensuring good governance and compliance with regulations such as Sarbanes-Oxley, IFRS and Basle II.

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Process versus Discrete ERP Systems


Sorting out the differences between the two main types of manufacturing software can be mind-boggling for companies when searching for an ERP system. Companies can mistakenly purchase the wrong ERP system, causing headache and a significant loss of revenue. Avoid the pitfalls of making the wrong decision by using this checklist to help you determine the software that best fits your manufacturing process.

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OPIN Systems


There are currently no details available for this vendor. However, we are working to update this vendor’s information in our database as soon as possible. Please check back again.

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arvato systems


arvato systems is the Asian division of arvato Group, a global IT service provider, which is part of the IT services division of the media conglomerate Bertelsmann AG. avarto system (Asia Pacific) is dedicated to solutions-based consulting and custom application development in Asia. As an international solution provider with over 30 years of experience, arvato systems has accumulated an extraordinary level of IT expertise while dedicated to solutions-based consulting and custom application development in Asia. The comprehensive spectrum of services offers everything your IT system will need to brave the future, from planning and development through to implementation and maintenance.

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Waer Systems Limited


For over ten years, Waer Systems has been an international provider of replenishment management systems (RMS) and supply chain management (SCM). Its solutions apply to manufacturing, "pick, pack and print label" (3PL), distribution, and warehouse environments. Waer Systems focuses on designing and implementing supply chain processes that integrate lean principles and RMS technology. The company has offices in the UK, the US, and France.

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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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NDS Systems LC


NDS Systems provides resource planning (ERP) solutions for organizations in the discrete manufacturing, wholesale distribution and fulfillment industries. Using the Oracle database, the NDS ERP solution is a scalable application that grows with the needs of your business, while also allowing you to streamline operations and work more efficiently.

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Aztec Systems


An award-winning solutions company, Aztec Systems is in its 16th year of providing high-impact business solutions to over 600 middle-market companies, nationally and internationally. We have achieved the highest standards in our industry, including securing five U.S. Patents, filing 12 patents for research and development. With a proven track record for delivering exceptional service and successful solutions to our clients, we have received accreditation as a Microsoft® Gold Partner and joined the top five percent of Microsoft partners worldwide as a President's Club member. Aztec has been a pioneer in Managed Services, Hosting of ERP Software, Financial Accounting Solutions. Our approach extends from three core practice areas: Business Solutions, Infrastructure, and Innovation. By combining extreme customer focus, an experienced team of experts, proven methodologies, a full range of business automation services, and strong business partner relationships, we deliver a total solution approach. Aztec Systems Inc. is your Single Solution Provider. We have helped clients increase application flexibility, lower Total Cost of Ownership, deliver on objectives to improve ROI, and have developed custom applications as needed. Aztec is continuously striving to bring innovative ideas to our customers to help them realize the maximum return from their IT investments. Aztec maintains a home office in Carrollton (TX), with branch offices in Austin (TX), Tulsa (OK), Oklahoma City (OK), and San José, Costa Rica.

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