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How can an ERP system streamline your financial department

Date: 26-01-2011
Author: Bit Software

One of the challenges that an ERP system should respond positively is related to the transfer of accounting department specific operational activities from the operating field to the analysis of financial indicators and workflow control. Thus, in order to ensure a high quality of accounting information generated by those responsible for inputting data into the system, it is absolutely imperative that the initial configuration parameters to be extremely flexible, combined, of course, with the specific restrictions for each operational role and the existence of some powerful tools for analysis and testing.
When it comes to flexibility of initial setup parameters, we refer to both, defining accounting plan and specific accounting items (articles, partners, banks, cash registers, VAT, customs duties, assets, personnel, etc.) and defining formulas to automatically generating specific accounting notes for each operation. And because most of the operators who enter data into the system does not have specialized concepts, ERP system must provide very simple and clear definitions of the connection points between the operational and accounting.
For any business that wants to grow, a healthy and steady growth, real-time insight into financial and accounting situation is vital. And a well-configured ERP system can ensure the analysis of partial results at any time, so that corrective transactions can be carried out when necessary.
In terms of accounting personnel, the biggest problem is the accounting month closing checks which are performed on the types of operations and workstations. Often it is found an error, after completion of verification and closure period, and most of the questions that arise in such situations are related to the possibility or impossibility of recurrences in one month off. The answer to these questions is yes, meaning that a complete ERP system allow the reopening of a closed period, but it should be noted that this is not recommended, since it is possibile that a user enter accidentally an operational document into the system, that will unwanted reflected into accounts balance. What is important to know about an ERP is that much of the month closing specific checks are automated, with the possibility of adding new checks when they are needed or requested by the client. A certificate account may be grouped at the type of transaction, document or detailed document, the balance may be issued on each workstation, and accounting transactions in foreign currency is disclosed in reports.
An important component of the finance department is pursuing a cash-flow accounting, for this reason any ERP system containing a treasury module. This module verifies any specific operation, from banking and household operations to endorsement checks.
For those reasons, the implementation of an ERP solutions in companies who really want to perform is a necessity and, at the same time, a means to streamline and control of one of the key departments: financial department.

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ERP Maintenance, between need and necessity

Date: 20-01-2011
Author: Bit Software

Users of Enterprise Resource Planing systems (ERP) know that the contract of purchase and completing the implementation of the solution does not mean breaking ties with IT solution provider, only passing to a new stage: entry into operation of the ERP solution and establish a relationship with the technical support from the supplier. In other words, maintenance.

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Archetypes of consultancy

Date: 19-01-2011
Author: Bit Software

I think there are many classifications of consultancy/advice. One of them refers to client relationship with the truth. From this perspective, the consultancy would divide into two types: one where the client has access to truth (to informations), but this does not involve the participation of self manager, and another in which access to truth and its use implies an unconditional change in self-manager, spoke in terms of the ancients, that means that only who can self-govern, can govern.

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Social networks, the main means of communication for business purposes?

Date: 13-01-2011
Author: Bit Software

A recent study by Gartner pointed to the fact that the growing availability of services like social networking, combined with changing working styles, will make that in 2014 about 20% of employees use social networks as the main way communication for business purposes. How microblogging redefines the way organizations communicate, business communication is evolving. New employees enter into employment with a predisposition to communicate via a social network. The distinction between e mail and social networking as a means of communication will fade. The collaboration between the organization and the necessary infrastructure will change too. Gartner provides its transfer to the cloud, leading to an increase in sales to service providers either internalized or externalized in the cloud.

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Social Media and Enterprise Resource Planning

Date: 12-01-2011
Author: Bit Software

Just recently I came, incidentally, in possession of a study conducted in August 2010 by IFS North America and Affinity Research Solutions, Boston, on a sample of 325 executives at large/middle-market manufacturers and focus on a possible marriage between ERP / CRM and social media (Facebook, Twitter, LinkedIN). According to the study, social media has begun to influence, more powerful, the ERP market.
As a result, vendors are experimenting with integration between enterprise software, typically involving customer relationship management (CRM) with social media tools like Twitter or Facebook. In some cases, software vendors are already offering functionality to deliver benefits of enterprise 2.0, enterprise functionality with integrated, built-in Web 2.0 technologies.
The conclusion that emerged was that ability to integrate with external social media tools on the public internet does not weigh heavily on the selection process for ERP. However, the adoption of social media functions to include collaborative and communication capabili­ties is viewed with importance but is not seen as a major influencer. Also, manufacturing executives are optimistic about the potential benefits of social functionally embedded in ERP and realize that there could be great value if their ERP application includes features that mirror the functionality of online social networking tools.

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Case studies and their relevance in selecting an ERP

Date: 03-01-2011
Author: Bit Software

The decision to purchase a software solutions business - ERP, CRM - is not easy to take, is quite a complicated and elaborated process. This involved also, indirectly, the inability to test the product in advance, as result of inevitable customizations required for an ERP solution to fold perfectly, or as perfect, to client's business. The existence of demo sites and other average test helps only in addition of names to the list of potential suppliers.
Therefore, in this field of integrated management systems, perhaps more than in any other field, purchases are made based on the reputation of the solution. And, in some cases, on the provider promises, which often are not sustainable by the ERP system.
With regard to the reputation of ERP, or no-name ERP, that are responsible mainly buyers. Since the solution sold to a client does not exist when signing the contract, the beneficiary needs some security. Other words, he must know whether the supplier's ERP has already completed similar projects. And guarantee that the candidate has carried out with succes previous similar implementation is given by references. What has become, lately, the
subject preferred by marketing departments of companies providing ERP solutions. In a very small market, customer reputation sells. Especially if they are "la crème de la crème" of the respective vertical.
When a potential new client has before it a wealth of customer lists and case studies on successful implementations, the first thing he needs to do is to seek common skeleton of the system. It is therefore important to distinguish between the company and product references, because it is totally unnecessary for a purchaser a reference about a Web portal or e-commerce solution developed by the supplier, which did not interest the customer. Also, make references to international products, mainly imported and distributed without specific standard adjustments for the market in Romania, are irrelevant for the local market. On the one hand, because the implementation there was made by another team, not by romanian supplier, and on the other side, because the fundamental differences between the Romanian and external business model.
Faced with an avalanche of references and ERP solutions, customer will have to read beyond the marketing messages and to start in choosing of business solution on the premise that his business is unique and, as such, he needs a product that would be reliable for him.

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