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.
The adoption of Financial Shared Services Centre has revolutionised the strategic roles of the finance function in global corporations by delivering more added value to other functions and processes via their analytics and decision-making capabilities. Such centres have evolved to not only focus on traditional tasks, such as costs reduction but also enhance organisations’ effectiveness and efficiency in many ways.
The consulting firm Protiviti and North Carolina State University’s Poole College of Management collected responses from 735 board members & finance executives about 30 risk issues that will likely have an impact on their companies in 2017.
Infor SunSystems is a comprehensive financial management solution combining technological innovations and usability with a depth of functionality achieved through decades of practical application. Not only does it deliver real-time financial and operational reporting and analysis; but it also helps businesses make better decisions and react quickly to potential issues with proactive alerting capabilities.
Financial Data must be protected from unauthorised access to safeguard the privacy and cyber security of an individual or organisation. Therefore, this is one of the biggest concern of companies wanting to protect their financial information. For businesses who are using SunSystems Cloud, TRG has already provided the optimal solutions in order to keep financial data safe from theft or data leakage. So what are those solutions that TRG has deployed?
No sooner had the US software publishers started venturing out into the international markets in the early 1980s than the need for software localisation arose. Microsoft, for example, opened its office in Japan in 1978 and expanded their business into Europe in 1979. Unsurprisingly, the significance of localisation at that time was not fully appreciated. When Microsoft introduced Multiplan (predecessor of Excel) to the Japanese market, they asked their distributor to localise the software into Japanese. According to a Microsoft executive, all they did was to “…turn over the source code library to the folks in Japan, wish them luck and go on vacation.”1 As it turns out, localisation has become indispensable for any software publisher’s commercial success. Sometimes, however, it is the initiative of the distributor that makes localisation possible, as in the case of Infor SunSystems in the Vietnam market.
By using the most current technology and keeping their skills up to date, management accountants can enhance their careers and their organizations.
In the July 2015 column, the IMA® Technology Solutions & Practices (TS&P) Committee discussed its list of “Key Technology Trends for Management Accountants.” While understanding and tracking the trends is critical, it’s even more important to prepare yourself and your team to identify, analyse, recommend, and implement the technologies that will bring your organization (and your career) to the next level. In a short video on the Competency Crisis website (www.CompetencyCrisis.org), IMA President and CEO Jeff Thompson rallies our profession to meet the challenges of rapid technological and regulatory change and to lead our organizations to this next level as management accountants have always done.
McKinsey in a recent research reports that while 75 million people cannot have a job, yet many businesses have vacancies that cannot be filled, and that there is a gap between the current workforce’s skills and what employers want from employees. Especially in the finance and accounting world, where people need accuracy, concentration and speed, it is even harder for organisation to recruit and retain talents.
Having a comprehensive system will enable top managers to manage human resources especially in financial and accounting aspects more effectively in the most effective way to compete globally. Today, we’ll discuss further on 3 among 6 basic ways to use technology to shape up financial strategies and increase financial performance.