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 accounting short articles


5 Things You Should Not Confuse Business Performance Management With
If you search for business performance management (BPM) on Google, you'll get around 700,000 results. Out of this huge number of results, you will presumably

accounting short articles  and analytics tool. Most accounting, enterprise resource planning (ERP), customer relationship management (CRM), supply chain management (SCM), product lifecycle management (PLM), solutions offer reports, and most of them even allow you to do analysis on sales, purchases, productivity, and more. As our jobs are becoming very information-intensive, reporting, analytics, and BI are essential to today’s workforce. Reporting and analytics tools do not always provide data in a format that can be used by a

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Browse RFP templates

Visit the TEC store for RFP templates that can save you weeks and months of requirements gathering, and help ensure the succes of your software selection project.

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Compare Software Solutions

Visit the TEC store to compare leading software by functionality, so that you can make accurate and informed software purchasing decisions.

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Process Manufacturing (ERP)

The simplified definition of enterprise resource planning (ERP) software is a set of applications that automate finance and human resources departments and help manufacturers handle jobs such as order processing and production scheduling. ERP began as a term used to describe a sophisticated and integrated software system used for manufacturing. In its simplest sense, ERP systems create interactive environments designed to help companies manage and analyze the business processes associated with manufacturing goods, such as inventory control, order taking, accounting, and much more. Although this basic definition still holds true for ERP systems, today its definition is expanding. Today's leading ERP systems group all traditional company management functions (finance, sales, manufacturing, human resources) and include, with varying degrees of acceptance and skill, many solutions that were formerly considered peripheral (product data management (PDM), warehouse management, manufacturing execution system (MES), reporting, etc.). While during the last few years the functional perimeter of ERP systems began an expansion into its adjacent markets, such as supply chain management (SCM), customer relationship management (CRM), business intelligence/data warehousing, and e-Business, the focus of this knowledge base is mainly on the traditional ERP realms of finance, materials planning, and human resources. The old adage is "Such a beginning, such an end", and, consequently, many ERP systems' failures could be traced back to a bad software selection. The foundation of any ERP implementation must be a proper exercise of aligning customers' IT technology with their business strategy, and subsequent software selection. This is the perfect time to create the business case and energize the entire organization towards the vision sharing and a buy in, both being the Key Success Factors (KSFs). Yet, these steps are very often neglected despite the amount of expert literature and articles that emphasize their importance.    

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Documents related to » accounting short articles

Enterprise Applications--The Genesis and Future, Revisited Part Two: 1990s--Enterprise Resource Planning


Integrated enterprise resource planning (ERP) software solutions became synonymous with competitive advantage, particularly throughout the 1990's. Customers were demanding to have their products delivered when, where, and how they wanted them. Companies were therefore compelled to develop and embrace the philosophies of just in time (JIT) and closer supplier partnerships as a way to remain competitive.

accounting short articles  management functions like financials; accounting; payroll; human resource (HR) management; and manufacturing and distribution, and thereby ensure enterprise-wide transaction system coherency. Knowing the history and evolution of ERP within the broader enterprise applications concept is essential to understanding its current use and its future developments. The following is the genesis of enterprise applications by era. By the time each functional area of a company had developed its integrated software Read More

Outsourcing 101 - A Primer


Outsourcing is a very diverse topic, and there are many different outsourcing options and outsourcing service providers to choose from. Companies are telling TEC that they need a clearer picture of outsourcing, its potential benefits, and common pitfalls. They want examples of different types of outsourcing and advice on whether outsourcing is right for them. This primer addresses these questions.

accounting short articles  insurance services, tax services, accounting services, legal services, architecture and engineering services, and others. The companies who performed this work were typically located in the same country, most likely the same city, as was the customer. In essence, this was onshore outsourcing. Next came manufacturing outsourcing for low-tech items such as toys, trinkets, shoes, and apparel goods and later, higher value manufactured items like high-tech components and consumer electronics. Manufacturing Read More

e-Procurement Is Not Electronic Purchasing


This is the transcript of an Audio Conference on e-procurement conducted by TEC during which brief case studies of how companies have improved inventory turns and reduced procurement costs through Internet enabled collaboration with suppliers were presented.

accounting short articles  as: Integration with Financial Accounting Systems Ability to Buy to Stock and Charge at Issue to employee Also note that this was a while ago, but more on this in a bit. Technical review of the eight candidates and assessment of internal support needs revealed tremendous differences: The complexity of making multiple suppliers fulfilling a single Requisition seem transparent to the employee ranged from simple to prohibitive. Ability to track workflow including activities at the suppliers facilities and Read More

Measuring the Supply Chain Outside Your Enterprise


Since supply chains, by definition, are about the end-to-end inter-enterprise process, we highlight the growing importance of looking outside your four walls when thinking about supply chain performance management. If you are overwhelmed by the number of supply chain measures you are tracking, it’s better to focus your energies on a few that can have a significant impact.

accounting short articles  align these with the accounting practice of the firm. And in cases where they have been adopted, it's been piecemeal, because the sheer scope and complexity of the total supply chain can be overwhelming. There is no consistent method to capture data across the end to end chain. And there is not much agreement on data and other standards to create a cohesive and consistent picture that everyone agrees to. The other challenge with measuring is that you can get a lot of data, and not have any real insight. Read More

Epicor Financial Management Software (v. 9.05) for Financial Packages Certification Report


Epicor Financial Management Software (v. 9.05) is now TEC Certified for online evaluation of financial packages in TEC’s Accounting Evaluation Center. The certification seal is a valuable indicator for organizations relying on the integrity of TEC research for assistance with their software selection projects. Download this report for product highlights, competitive analysis, product analysis, and in-depth analyst commentary.

accounting short articles  financial packages in TEC’s Accounting Evaluation Center. The certification seal is a valuable indicator for organizations relying on the integrity of TEC research for assistance with their software selection projects. Download this report for product highlights, competitive analysis, product analysis, and in-depth analyst commentary. Read More

10 Strategies for Getting the Right ERP and Accounting Solution


That's where the white paper 10 strategies for getting the right ERP and accounting solution comes in.

accounting short articles  the Right ERP and Accounting Solution If you're a midsized business looking for an enterprise resource planning (ERP) solution, the market trends are all on your side: ERP vendors are hungry for your business. Big vendors (SAP, Oracle, etc.) now have great products for small and medium businesses (SMBs). Traditional mid-market vendors are fighting back with more features and incentives. With all the big trends aligned in your favor, you can come out the winner—but only if you know how to play your Read More

Why Project ERP Solutions Often Fall Short


In a recent study conducted by IFS North America, where ERP manufacturing professionals of middle- to large-market manufacturers were asked about their ERP solutions, more than one-third of respondents indicated that they have no integration between their project management software and their enterprise system, even though the great majority consider the use of set projects to manage tasks and procedures to be a necessity. IFS's Charles Rathmann explains the study's key findings regarding existing issues in project management functionality in ERP systems, and how to use this information for making smarter ERP purchasing decisions.

accounting short articles  Project ERP Solutions Often Fall Short In a recent study conducted by IFS North America, where ERP manufacturing professionals of middle- to large-market manufacturers were asked about their ERP solutions, more than one-third of respondents indicated that they have no integration between their project management software and their enterprise system, even though the great majority consider the use of set projects to manage tasks and procedures to be a necessity. IFS's Charles Rathmann explains the Read More

Microsoft to Add "Encore" Functionality to MBS Great Plains 8.0 Part One: Event Summary


By adding nonprofit and public sector accounting capabilities to the forthcoming MBS Great Plains 8.0 release via acquiring a former independent software vendor (ISV) partner Encore Business Solutions, Microsoft Business Solutions (MBS) may find a way to counteract its archrival Best Software's superiority in the target market.

accounting short articles  announced the acquisition of accounting products from a Winnipeg, Manitoba, Canada-based vendor, Encore Business Solutions , Inc ., that could be critical to the success of the customers and partners in the public sector. The acquisition includes Encore's not-for-profit (NFP) accounting products and the intercompany payables management and requisition management modules, some of which have currently been sold by MBS under an original equipment manufacturer (OEM) agreement with Encore. Namely, the only Read More

Nonprofits and Public Sector: The Latest Hot Market


Many recent circumstances have rendered the nonprofit and public sector accounting markets a land of both opportunity and challenges.

accounting short articles  that both require fund accounting and management capabilities, and have complex financial reporting requirements that are quite different from the commercial, for-profit financial accounting. For instance, over dozens of separate government agencies in one state will logically use dozens of different formats to prepare their separate financial reports, but some standardization of the fiscal procedures and reporting structures may be needed when all these reports are sent to the US Department of Labor ( Read More

Andersen/Enron Affair Precipitates "Big Five" Divorces


While the current focus of the public is on the future of Andersen and the entire accounting practice, the implications on the consulting industry will be deep as well.

accounting short articles  trust in the company's accounting bill of health. Potential loss of customers and possible employees departure, while painful, should not necessarily mean Andersen's demise as such, but its long-term viability will remain questionable and will hover over many minds. In any case, whether Big Five will become the Big Four some time down the track is less important than the fact that the business model of these will have changed forever. There has long been a trend (or at least it was not that unusual) for Read More

Banking Industry's Fair Value Accounting (FVA) Conundrum


Every company and almost every individual holds fixed assets. Over time, these assets change in value. For example, real estate tends to increase in value, while vehicle values decrease. In the US, as in most countries, the global crisis has resulted in declines in the real-estate market and employment sectors. These declines result in housing and business property holdings dropping

accounting short articles  Industry's Fair Value Accounting (FVA) Conundrum Every company and almost every individual holds fixed assets. Over time, these assets change in value. For example, real estate tends to increase in value, while vehicle values decrease. In the US, as in most countries, the global crisis has resulted in declines in the real-estate market and employment sectors. These declines result in housing and business property holdings dropping in market value. Some unemployed households are obliged to walk away Read More

Integrity and Reliability = Trustworthy Accounting: Are You Sure You're Balanced?


Recent accounting scandals, highlighted by cases at Enron, Arthur Andersen, WorldCom, and Qwest, have emphasized the need for corporate governance, especially responsible corporate accounting. Not only must businesses use responsible accounting methods, but they must know that their methods are accurate. Small and mid-sized businesses must know the limitations of their current accounting software; understand the possible ramifications of system accounting balance failure; and take steps to guarantee the integrity, reliability, and accuracy of their systems. This white paper highlights the need to recognize problematic software accounting methods; minimize errors in account balance integrity, ledgers, and sub ledgers; and reduce the need for expensive rectification, to avoid serious legal ramifications.

accounting short articles  Sure You're Balanced? Recent accounting scandals, highlighted by cases at Enron, Arthur Andersen, WorldCom, and Qwest, have emphasized the need for corporate governance, especially responsible corporate accounting. Not only must businesses use responsible accounting methods, but they must know that their methods are accurate. Small and mid-sized businesses must know the limitations of their current accounting software; understand the possible ramifications of system accounting balance failure; and take Read More

WineDirect Acquires Winery Accounting and POS Provider


WineDirect announced that it has acquired Elypsis Winery from Admiral IT. Headquartered in Napa Valley, CA, WineDirect provides sales technology and fulfillment services for wineries. Elypsis offers a range of services encompassing enterprise resource planning (ERP), point of sale (POS), and customer relationship management (CRM). WineDirect already provided a broad range of

accounting short articles  Acquires Winery Accounting and POS Provider WineDirect announced that it has acquired Elypsis Winery from Admiral IT. Headquartered in Napa Valley, CA, WineDirect provides sales technology and fulfillment services for wineries. Elypsis offers a range of services encompassing enterprise resource planning (ERP), point of sale (POS), and customer relationship management (CRM). WineDirect already provided a broad range of services to help wineries sell more wine direct to consumer (DTC), including e- Read More

TEC 2013 Market Survey Report: What Organizations Want in Accounting and Financial Software


Looking for an accounting and financial solution? This report can help you spot trends in the accounting and financial software space. See what your peers and competitors are looking for in those solutions, so you can develop a good understanding of what accounting and financial software vendors offer, what other companies have identified as important requirements, and what functionality might be a good fit for your company.

accounting short articles  What Organizations Want in Accounting and Financial Software Looking for an accounting and financial solution? This report can help you spot trends in the accounting and financial software space. See what your peers and competitors are looking for in those solutions, so you can develop a good understanding of what accounting and financial software vendors offer, what other companies have identified as important requirements, and what functionality might be a good fit for your company. Read More