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MCI WorldCom: “It’s not an age, it’s an attitude”
Staking its claim as the preeminent communications company for the digital generation, MCI WorldCom announced a major initiative to build upon its advanced global data and Internet services. On April 13, 2000, President and Chief Executive Officer Bernard J. Ebbers unveiled the new vision and plans for the future of the company.
the corporate-wide effort, MCI WorldCom is launching a national advertising campaign focusing on new types of customers, entrepreneurial companies, and MCI WorldCom employees - generation d - all of whom are driving today s new digital economy. A main theme of the campaign - generation d, it s not an age, it s an attitude - will be incorporated in broadcast, print, and on-line media. This marks an interesting direction for MCI. Competitor AT&T has launched its Ecosystem in an effort to provide
The Sarbanes-Oxley Act and International Financial Reporting Standards
Recent legislation has bought about unparalleled emphasis on corporate governance and regulatory compliance. In the United States, the Enron and Worldcom affairs have led to a new law Sarbannes-Oxley. In Europe, the EU parliament has decided that all countries must streamline the laws for financial reporting in accordance with IFRS rules from IASC. Bringing organizations into compliance with new demands for corporate governance is having immediate and long-term effects. In this paper we discuss the current business environment, those facets of legislation impacting manufacturers and how QAD enterprise suite of applications can assist you in achieving corporate governance and regulatory compliance quickly, efficiently, and cost-effectively.
States, the Enron and Worldcom affairs have led to a new law Sarbannes-Oxley. In Europe, the EU parliament has decided that all countries must streamline the laws for financial reporting in accordance with IFRS rules from IASC. Bringing organizations into compliance with new demands for corporate governance is having immediate and long-term effects. In this paper we discuss the current business environment, those facets of legislation impacting manufacturers and how QAD enterprise suite of applications
Discrete Enterprise Resource Planning (Discrete ERP) RFI / RFP Template
Financials, Human Resources, Manufacturing Management, Inventory Management, Purchasing Management, Quality Management, Sales Management, Product Technology
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Integrity and Reliability = Trustworthy Accounting: Are You Sure You're Balanced?
Recent accounting scandals, highlighted by cases at Enron, Arthur Andersen, WorldCom, and Qwest, have emphasized the need for corporate governance, especially responsible corporate accounting. Not only must businesses use responsible accounting methods, but they must know that their methods are accurate. Small and mid-sized businesses must know the limitations of their current accounting software; understand the possible ramifications of system accounting balance failure; and take steps to guarantee the integrity, reliability, and accuracy of their systems. This white paper highlights the need to recognize problematic software accounting methods; minimize errors in account balance integrity, ledgers, and sub ledgers; and reduce the need for expensive rectification, to avoid serious legal ramifications.
at Enron, Arthur Andersen, WorldCom, and Qwest, have emphasized the need for corporate governance, especially responsible corporate accounting. Not only must businesses use responsible accounting methods, but they must know that their methods are accurate. Small and mid-sized businesses must know the limitations of their current accounting software; understand the possible ramifications of system accounting balance failure; and take steps to guarantee the integrity, reliability, and accuracy of their
Audit Considerations for Enterprise Software Implementations Part 1: Project Planning and Managemen
Thanks, in part, to the fallout from the financial scandals of Enron, WorldCom, Tyco and others, the corporate spotlight is being refocused on the audit function. However, by waiting until systems are live and in production before applying an audit regimen, you may miss an excellent opportunity to establish effective controls at the outset, when the enterprise software is being implemented. Read on to learn where and how, as an executive sponsor, project manager, or team member, you can instill audit procedures that can continue throughout the life of the software.
Sarbanes-Oxley Readiness with Microsoft Dynamics NAV
Organizations cannot achieve Sarbanes-Oxley compliance without the proper tools. But once these tools have been obtained, compliance becomes an opportunity for organizations to reevaluate their business practices and grow. Microsoft Dynamics NAV is a powerful ally in compliance efforts, and can give organizations the extra controls and review tools they need to help reach compliance and improve their organizational capacity.
such as Enron and WorldCom. Legislators wrote the Act to restore investor confidence in the integrity of US capital markets in the wake of these events by implementing higher regulatory standards upon the quality and integrity of the information itself and assigning responsibility to those responsible for reporting accounting and financial information. Simultaneously, other initiatives were taken to improve corporate governance. These include the Basel II initiative, due for implementation in 2006, which
Service Supply Chain Strategies to Increase Corporate Profitability
This article describes the unique challenges of the service supply chain, provides a framework for understanding the service management decision hierarchy, and highlights the dramatic value proposition available to companies that deploy advanced service strategies and decision-support tools to address these challenges. Brief case studies from leading service organizations Cisco and KLA-Tencor show examples of successful deployments of service supply chain strategies.
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Thou Shalt Comply (and More), or Else: Looking at Sarbanes-Oxley
Compliance with the US Sarbanes-Oxley Act (and a slew of other regulations) is crucial for all businesses, as failure to comply with the law’s strict standards and policies can spell disaster for executives and upper management of any enterprise.
, Tyco , and MCI/Worldcom scandals of a few years ago, in which these companies were proven to have falsified their financial statements, have cost billions of dollars and devastated public trust in financial markets (see Claudia Delto s 2005 article Checking It Twice—Basel II, Sarbanes-Oxley Act, International Financial Reporting Standards ). These companies have especially hurt several million small investors by nearly wiping out the investors pension plans. Much of the abuse that occurred at that
The Empires Strike Back - Part II: The Likes Of IBM, EDS, And CSC In E-Business
In the past year the traditional consulting houses have executed major initiatives to counter the challenges of the pure play and fringe market invaders. Being big doesn't mean being slow, as these Behemoths have demonstrated – once they tuned in to the new market realities.
the likes of MCI WorldCom and service provider PROXICOM to create online shopping malls (a much heralded claim and also commercial failure in 1994), trade marts and auction sites. As the web-based business market exploded, the consulting houses were caught with one foot off the ground. However, it was not so much the competition of the pure plays, but more the market opportunity and the need to leverage and keep talent. In less than twelve months initiatives have been launched to take the large
Using Business Intelligence Infrastructure to Ensure Compliancy with the Sarbanes-Oxley Act
The 2002 Sarbanes-Oxley Act (SOX) has affected organizations, their data, and their reporting processes, putting a strain on how their financials are managed. Business intelligence solutions provide answers to these issues, allowing organizations to address SOX compliancy.
as the Enron and WorldCom affairs, the US government was compelled to pass legislation ensuring accurate financial reporting and auditing from organizations publicly traded in the United States. SOX affects any public corporation competing in the American marketplace. As a result of SOX, not only have financial controls and reporting schedules become stricter, but responsibility for accurately reporting financial results has been placed in the hands of organizational heads, namely the chief executive
Joining the Sarbanes-Oxley Bandwagon; Meeting the Needs of Small and Medium Businesses
To meet tough government compliance, more vendors are offering compliance solutions. CODA's collaborative task modeling tool takes an enterprise's best practices model, audits business processes, automates data collection, and creates a secure collaborative space to offer checks and balances to simplify compliance monitoring.
, Tyco , and WorldCom , with the idea of making corporate accounting procedures more transparent to investors and regulators. Even before these fraudulent scandals, missed earnings announcements were often accompanied by chief executive officers (CFO) stating that financial expectations were not met due to a lack of visibility into corporate activities. These CFOs would frequently blame unforeseeable events, such as a key customer canceling a major order unexpectedly, or suppliers ramping up prices due
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