CFO Magazine: Dispelling the Myths About CPM Implementations

“CFOs must understand that the benefits of CPM to quickly recoup the investment and lead to value creation in both hard and soft dollars. Among the former, the technology drives down costs by allowing business-unit comparisons to identify and leverage best practices. But there is a soft-dollar return that CFOs should not overlook. CPM technologies enable CFOs to realign their finance department work to higher value-add functions (decrease in data collection, reconciliation, and consolidation; increase in business analyses and support). And, the insights realized as a result of a CPM system investment help finance chiefs make more informed business decisions and more easily course-correct when circumstances change.”

Read More at CFO Magazine >

CFO Journal: Finance 2025: Operating Models, Data Integration, ERP, and the Workforce

“Does your company have a streamlined finance data infrastructure that can help you take advantage of advanced technologies and deliver insights? Finance data serves as a core foundational component of other accelerants, such as extracting an increasingly sophisticated level of business insights that can drive corporate strategy and are also relevant to stakeholders. This will require a comprehensive driver-based data architecture that tells the full back story and doesn’t just report on the outcomes without the underlying causes.”

Read More at The Wall Street Journal >

Accounting Today: Robust Financial Reporting Provides the Key to Business Performance

“Give older ERP systems a health check. Maybe they did an adequate job a decade or two ago, but aged, cobbled-together ERP systems significantly hold companies back, particularly when they don’t integrate with other solutions such as the best payroll services.

If yours is manual, cumbersome, and lacks the flexibility of more modern ERPs, consider upgrading an outdated, legacy one with a system that integrates with accounts payable, payments automation procurement and other financial systems. if you will like to understand how just have a peek at these guys.

A good accounting system provides the information necessary to make decisions about the future of the organization. Analysis of financial records can help you manage your payroll records well, make decisions about hiring employees, making purchases, gifting charitable donations, and more. The purpose of accounting is to accumulate and report on financial information about the performance, financial position, and cash flows of a business. This information is then used to reach decisions about how to manage the business, or invest in it, or lend money to it. The accounting and bookkeeping services in Singapore is an example of a business partner that can help you with your accounting needs. Look into the services of companies like Pre-Pack Administration UK if you need help managing your business debts.

Buying a business is then also a great idea as it’s so much easier and you can see the results that the business is currently getting, so there is far less risk too. We used one of the most experienced business brokers in Florida recently to get a business there and it’s just been a joy, so they are a great choice if you would like a business in Florida.

An effective accounting system is accurate, useful and timely. Its purpose is to provide information for external entities, such as tax agencies needing undisclosed debt monitoring to prevent fraud, and for internal purposes, such as evaluating efficiency and profitability. Here’s a hint: If your finance function relies on Excel for all of its reporting and data analysis, you may want to consider an upgrade.” You can also use a hiring strategy if you are in need of employees for your daily operations.

Read More at Accounting Today >

CFO Journal: At Genpact Strategy Teams With Finance to Adapt to Market Shifts

“Pre-pandemic, there was a lot of customer interest in new ERP implementations and full-scale digital transformations. Now, with resources constrained by the crisis, our client conversations are more about services that layer on top of existing ERP and on outsourcing different pieces of finance that they don’t view as core to running their business. These shifts have meant significantly changing how we go to market.”

Read More at WSJ >

Robert Kugel on LinkedIn: Fundamental Change is Coming to ERP Systems

By the end of the 2020s, ERP systems will have a different look and fulfill a broader role in organizations. CFOs and controllers must have an ongoing process to evaluate how technology can improve both the department’s efficiency and its ability to deliver more timely, useful analysis and advice to the rest of the organization. To be successful, these executives will need to be less hesitant in adopting new technology and the new techniques that become possible. They also need to manage a department that can—and is willing—to adapt to more rapid change than in the past.

Read more on LinkedIn >

SAP FI/CO Virtual Conference

Attend this FREE virtual event for SAP finance and technology professionals and join one of our sessions on ways to explore the ways better costing leads to better decisions.

#CostTalk: The Value of Costing in Changing Business Environments
Thurs, 5/7 at 11:30am
Consumer goods finance executive Steve McKiddy joins 3C Software CEO Matthew Smith to discuss the critical issues facing today’s finance teams and the benefits they can gain from a focused and integrated costing program.

Steve McKiddy CEO, McKiddy and Company

Matthew Smith CEO, 3C Software

Competing on Cost: Drive Real Profits through Deep Cost Insights
Thurs, 5/7 at 3:00pm
Product costing – a critical activity for manufacturing finance teams – can create a competitive advantage for organizations that enable the right processes, people, and tools.

Adrian Rochofski Solution Leader, 3C Software

Register now for free at http://infoday.io

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Do You Have the Tools to Promote Agility in Your Organization?

An agile way of managing application changes allows requirements to be delivered to the business in shorter, more frequent releases. This goes further than leveraging only an ERP system. Companies that are trying to improve operational efficiency and implement process improvements need more agile methodologies that can deliver continuous business value. There is nothing inherently wrong with delivering applications that are pre-planned, budgeted and have a well-defined scope. But just because it is done this way doesn’t mean that risk is removed. A tool that promotes an agile business environment allows the business to react quickly and strategically to change, and therefore create a more efficient workforce overall.

Read More at The Digitalist by SAP >

Navigating the Path to Modern ERP Solutions for Midsize Companies

How do you choose the right ERP technology that will scale with your business operations and help you get ready for the future? It’s all about flexibility, speed, agility, and focus. ERP software comes with an endless array of formats, environments, interfaces, and capabilities. However, knowing which offering to implement is still a challenge. As operations grow and expand into new locations, midsize businesses can quickly outgrow existing technology. But this reality shouldn’t keep midsize businesses from adopting an ERP system. Instead, they should upgrade their understanding of dynamic ERP add-on technologies that can scale the context of current and future business requirements.

Read More at The Digitalist by SAP >

Manufacturers Need More Than Their ERP System to Be Successful

As manufacturers, efficiency, quality, cost and customer satisfaction are all elements that drive your business. The technology that is used must have operational meaning, purpose, and application for you to make an investment. It must improve production and increase your competitiveness. You shouldn’t have to compromise your business with an ERP that wasn’t designed for manufacturing. You need a system that can handle the complexity of your business and that gives you the insights you are lacking in your ERP system.

Read More at Industry Week >