TRG International will be organising an event entitled “Fashionable software for Fashion” on 16 May 2012 at Sofitel Saigon Hotel to illustrate how businesses can streamline their retail operations with a dedicated solution.

Since the global economic meltdown, businesses have been forced to be more cautious in their decision making to ensure growth amid uncertainty. Processes such as planning and budgeting, more than ever, need to be fine-tuned and have a degree of flexibility to keep up with change.

Since the global economic meltdown, businesses have been forced to be more cautious in their decision making to ensure growth amid uncertainty. Processes such as planning and budgeting, more than ever, need to be fine-tuned and have a degree of flexibility to keep up with change.

As software selection advisors, my team has talked to thousands of retailers considering a major new retail management system purchase. The vast majority are replacing an existing system – one they’ve used for years. Why? Why replace what’s familiar? Why pay up for something entirely new when an upgrade is – on paper – less expensive? Why move away from a long-term vendor relationship?

Each company must strike a balance between developed markets such as the US and Europe and rapid-growth markets such as China, Brazil and South Africa. This balance must be appropriate for the company’s sector, strategy and growth prospects. And it must communicate that strategy in a way that meets the different needs of its different investors.

Evaluating a financial management software is no easy task, as it lays the very foundation for the next step – implementation. However, it is better to take the initiative to embrace change before it turns the whole system upside down. Read on to get a general idea of the financial management climate as well as a new approach to increase financial performance.

"We don't have to spend a lot of time training users on a new system." —MS. WONG WOON CHUN, MANAGER, MANAGEMENT SERVICES DEPARTMENT, SINGAPORE PETROLEUM COMPANY LIMITED. 

SHL Group, Ltd, a global psychometric testing and assessment company with more than 800 employees, chose Infor10 Financials Business (SunSystems) plus Query & Analysis for its unified ledger and configurability in handling complex accounting and international invoicing. SHL's upgrade to the web-enabled SunSystems Enterprise makes it much easier to deploy worldwide and results in greatly improved speed and lower cost due to the ability to eliminate several current servers.

After creating an ambitious agenda for the year, the standard-setters had to play hurry up and wait.

In the realm of accounting, no one moved more rapidly this year than the Financial Accounting Standards Board and the International Accounting Standards Board. The two standard-setting bodies set forth an aggressive agenda that called for a dozen or so new rules to be issued by 2011.