Companies that are constantly trying to cut down on selling, general and administrative expenses (SG&A) may actually hurt their long-term competitive position. This perspective is highlighted in a recent study by the consulting firm CEB.
The 2017 IT Priorities survey by TechTarget asked more than 1,000 CIOs and other tech leaders in the Asia-Pacific region about their companies’ key IT projects in this year. Data analytics, IT automation, and Internet of Things (IoT) are the top IT priorities for ASEAN companies. Another noteworthy trend is the accelerated adoption of cloud services at the expense of spending on other IT areas like maintenance and human resources.
Topics: Cloud Computing
Companies today are deploying an increasing amount of systems to support various business functions – accounting software, CRM, asset management system, etc. The downside though is that those systems are not always capable of “talking” to each other, especially if they are from different vendors.
If Tesla Motors is to achieve the aggressive goal of making 1 million cars by 2020 set out by its CEO Elon Musk, it will partly be because of application of data analytics in its manufacturing operations.
For many organisations, cloud computing really is the question of “when” not “if”. There are significant advantages of the transition to the cloud, and not just from an IT perspective. The finance functions should be able to reap rewards from this trend as well.
Nucleus Research, one of the market-leading technology research and analysis firms, periodically issues a special report – Technology Value Matrix – to evaluate and rate ERP vendors and products.
We are on the verge of the Fourth Revolution of industrial manufacturing on a global scale. The First Revolution witnessed the era of mechanisation thanks to the invention of steam engine. The Second Revolution was characterised by electric-powered assembly line and mass production. The Third Revolution introduced automation and information technology into factories. And the Fourth Revolution promises to deliver full integration of latest disruptive technologies such as A.I. (Artificial Intelligence), big data, and Internet of Things.
There is no question that supply chain management is critically important. And this is especially true for the healthcare industry. Studies indicate that supply chain administration cost is the second largest operational expenditure of most healthcare institutions in the US, surpassed only by labour cost. The healthcare supply chain is also more complex and demanding than most industries’.
Koch Industries, one of the largest private companies in the US, is pouring US$2.5 billion into Infor, which is also privately held and selling enterprise applications such as ERP, financial management, and retail management solutions. Infor is currently one of the world’s largest ERP vendors, along with SAP, Oracle, and Microsoft.
Expense management plays an essential role in building a business strategy. There are many methods to manage expense of which effective cost cutting appears to be very simple and popular.