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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West Trax Applications LLC, which provides analytical and diagnostic services for ERP systems, has undertaken some 300 benchmarks for over sixty enterprises across Europe in 2003-2005, and the results are disturbing. Not one organisation was using more than 50% of the vendor software they were licensed and paying for. Software that is never used only adds to costs without contributing to ROI. IT is not aligned with the business. (Remember the mustard allegory? The profit lies uneaten on the side of the