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Vietnamese 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.
Recent TRG blog posts
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Blog Topics: Financial Accounting Management Software, Infor SunSystems
Business leaders everywhere are looking for new ways to gain as much profit as possible. They look from all different angles to see the best approaches in order to better run their business.
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Blog Topics: Financial consolidation, planning and reporting, IFRS, Financial Accounting Management Software, Infor SunSystems
While Europeans have long had to adapt to working in many languages, currencies and legal jurisdictions, a generation ago most midsize companies in the United States did all their business in their home country and in U.S. dollars. Today, though, the relentless globalization of the world economy means that an increasing number of midsize companies in North America are functionally multinational and face the challenges of managing a more complex and demanding accounting and financial management function.
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Blog Topics: Talent Management, CFOs, Financial Accounting Management Software
Building business efficiencies and greater competitiveness for North American companies. Regulatory authorities are on track to make the International Financial Reporting Standards (IFRS) a requirement for all publicly-traded companies in the US, Canada, and Mexico over the next few years. For public companies in these countries, the transition to IFRS will be the most significant regulatory change in many years and one with potential to directly impact overall competitive position.
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Blog Topics: Financial consolidation, planning and reporting, IFRS, Financial Accounting Management Software, Infor SunSystems
Metaphorically, belief and disbelief in business analytics as a competitive edge, and not just a passing fad, meet at a door. On one side is passion, and on the other, fear. Passion always lives with fear. Those with passion for a methodology, like embracing analytics to support decision, have fear that others will reject them and their ideas. What position for analytics will come out ahead? Opposition or proposition?
Technology is no longer the barrier to analytics
What is it about accepting a new idea like applying analytics? There is a lot. And it mainly has to do with the natural resistance to change with people. People like the status quo. The main barrier to the acceptance of applying analytics is no longer technical but rather is behavioral and cultural. The software tools are proven. The use of analytics by casual users, not just a team of trained statisticians, has become widespread.
Consider these remarks from Jane Griffin, a Principal with Deloitte Consulting LLP from a Deloitte “debate” on this topic:
“The executives I talk to every day are wrestling with business decisions where a better understanding of data at a very deep level can make all the difference. … Low-level analytics just won’t get you there. Work your way through the list of ground-shaking developments in business today – none are areas where companies can continue to shoot from the hip. Pricing. Workforce trends. Health reform. Even security and terrorism threats. These are all complex challenges where advanced signal detection capabilities are critical. … Analytics is no fad. It’s a serious competitive advantage.”
Analytics as the only sustainable competitive advantage
The popular Harvard Business School Professor Michael Porter’s defined accepted, generic strategies for a company (i.e., cost leadership, differentiation and focus), however they are all vulnerable today because competitors can more quickly take actions (such as reduce costs), imitate a company or invade a company’s market niche. An organization’s best defense against the competition is the ability to quickly make smart decisions – which can easily be accomplished by implementing business analytics. Organizations that achieve competency with business analytics are able to sustain a long-term competitive advantage.
A similar case can be made for adopting analytics-based enterprise performance management methodologies. The early adopters are already well ahead. Their executives have properly communicated their strategy to employees through appropriate key performance indicators (KPIs) and achievable targets to align behavior. They have robust predictive analytics that reduce uncertainty and allow them to take smarter and quicker actions. These organizations understand their cost and profit margins by product, service, channel and customer – as well as optimal actions needed to retain and grow customers, and acquire the best target customers. They have driver-based budgets and rolling financial forecasts using modeling techniques.
I suspect that passion (and common sense) was present to overcome fear of trying something new, like advanced analytics, to improve organizational performance.
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Blog Topics: Talent Management, Financial consolidation, planning and reporting, Financial Accounting Management Software
0 Comments Click here to read/write comments
Blog Topics: Talent Management, Financial Accounting Management Software
While Europeans have long had to adapt to working in many languages, currencies and legal jurisdictions, a generation ago most midsize companies in the United States did all their business in their home country and in U.S. dollars. Today, though, the relentless globalization of the world economy means that an increasing number of midsize companies in North America are functionally multinational and face the challenges of managing a more complex and demanding accounting and financial management function.
0 Comments Click here to read/write comments
Blog Topics: Talent Management, CFOs, Financial Accounting Management Software
Business leaders everywhere are looking for new ways to gain as much profit as possible. They look from all different angles to see the best approaches in order to better run their business.
0 Comments Click here to read/write comments
Blog Topics: Financial consolidation, planning and reporting, IFRS, Financial Accounting Management Software, Infor SunSystems
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.
0 Comments Click here to read/write comments
Blog Topics: Financial Accounting Management Software, Infor SunSystems
As the world transitions to a single, unified global accounting standard with the implementation of international financial reporting standards (IFRS), oil and natural gas exploration and production (E&P) companies in particular face daunting challenges with the transition. Even in countries that have already adopted or set out a path for adoption of the new standard, many questions still linger about how to interpret what amounts to largely broad statements of accounting principles under IFRS.
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Blog Topics: IFRS, Financial Accounting Management Software
