Intercompany accounting is an all-important process that any parent company must get right. If not done correctly, it can gravely hinder the preparation of the company's consolidated financial statements. The following best practices for intercompany accounting will make this process much more straighforward and hassle-free.
Our digital world is growing at an alarming rate. It is estimated that, by 2020, there will be 44 trillion gigabytes of data1 created and copied annually. However, data remains one of the most underutilised assets of any organisation. Enterprise data management is supposed to fix this paradox. Here's what you need to know about enterprise data and how to manage it.
The financial services industry in the post-crisis era is still rife with challenges, both old and new, including extensive regulatory changes, technology disruptions, and a greater demand for trust and transparency. Financial services firms operating in such contested environment need an accounting software solution that can deliver top-notch industry-specific capabilities.
Infor SunSystems has a well-established reputation as a world-class integrated financial management solution designed to meet the complex financial operations in multinational enterprises and fast-growing companies.
Infor Ming.le is a comprehensive platform for social collaboration, business process improvement and contextual analytics. Its innovative social media concept enables an employee to work more effectively as it combines social communication and business processes. The major difference between Infor Ming.le and other information sharing technologies is Ming.le is fully embedded with the organisations main systems, for example, ERP and accounting software.
Despite its complexity, financial consolidation - the process of combinining and normalising financial data from different business units (entities) - is often still being performed by outdated tools. This problem is compounded by the fact that CFOs are facing growing reporting and compliance requirements on a global scale.
In previous blog posts, we have discussed about why workflow automation software is a worthwhile investment as it frees up human resources, increases efficiency, reduces errors in both information gathering and overall processes, and reduces your overall costs.
As we have explained in earlier blog posts, proper document management is a challenging but worthwhile practice. However, if you have decided to invest in a document management system (DMS), a whole new problem arises – Which one do you choose and what does such a system even need?
A typical finance professional spends the majority of his or her time collecting, validating, and administering data, leaving a tiny window for value-added analysis. CFOs demand forecasts to be accurate, timely, and relevant. Yet, the finance department struggles to satisfy such request.