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White Papers

Software guide: forecasting and budgeting software: COA Solutions (October 2008)

To evaluate forecasting and budgeting software can be a somewhat alarming experience. And if you are not an accountant, somewhat puzzling. Puzzling, until you realise that from an accountant’s perspective ‘forecasting and budgeting’ means something different from what it means to everybody else. Alarming, because there seems to be no standard set of rules or best practice on how to put together a forecast. A profit and loss report for the past has been built on the principles of double entry. But a profit and loss report for the future can be put together in any way you like. And different elements of forecasting and budgeting seem to be mutually contradictory. To develop a forecasting model requires software that is broad brush and totally flexible. Yet for repeated use this forecasting model needs to be clearly structured with assumptions, logic and outputs separately identified. Is it possible for a single software package to provide both total flexibility and a disciplined structure?

How to prosper in a downturn: COA Solutions (October 2008)

By all accounts, the breadth and depth of the ‘credit crunch’ has been more pronounced and pervasive than most respected commentators imagined. But given the scale of the calamity, how is it that the early warning signs were not picked up? Why did boards of management, resplendent with elaborate governance, risk management and compliance processes, fail to identify the concerns in time? Why have sophisticated performance management and ERP systems failed to furnish management with the information needed to take evasive action? “Britain is on the verge of a recession. More than a million homeowners could be at risk and repossessions are due to increase by about 50%,” says John Moulton, managing partner of Alchemy, a UK-based private equity firm. Complacency has understandably played a part, against the backcloth of an economy that has grown unabated for 18 years. Many managers now in influential positions have never experienced a marked downturn and are not necessarily familiar with the tell-tale signs of a slowdown in their industry.

Making the business case for software change: Armstrong Consultants (July 2008)

Your MD wants to create a successful and sustainable business. In order to protect the long-term future of the organisation, they need robust systems, efficient processes and the very best people. As a result, your MD will stringently assess requests for investment. And rightly so. It’s a challenge to juggle issues such as managing business growth, increasing market share, improving customer satisfaction and promoting ongoing product development. So you need systems in place that will meet the needs of the entire organisation. When the time comes, most IT and finance managers know their software systems need to change but have a mountain to climb in persuading senior management to make the necessary investment. This white paper will help you to: 1. Recognise when your system is no longer fit for purpose. 2. Quantify the impact on the business as a result of failing systems. 3. Gain buy-in to the need for change from key business stakeholders. 4. Quantify the financial return on investment. 5. Navigate common stumbling blocks, objections and misconceptions. 6. Demonstrate the additional benefits from investment in improved systems.

The guide to becoming a successful FD: IRIS (June 2008)

Too many of the UK’s small to medium-sized enterprises (SMEs) are failing to maximise their commercial opportunities because they simply have neither the time nor ability to proactively monitor and assess business performance. Bogged down with the tedious creation of month-end management accounts and regulatory reporting, far too much time is spent number crunching – leaving little or no opportunity for basic analysis of business performance against key targets, or the business plan. There are, however, some simple steps that can be taken to transform the situation: enable real-time access to relevant management information; integrate the spreadsheet with financial software to provide consistency; design one-page dashboard KPI report; utilise exception reporting and alerts for real-time management; automate reporting processes to reduce time spent on report generation; leverage online technology business to improve business value; empower budget holders with real-time access to financial information; and reduce paper and streamline processes to reduce costs. This white paper provides a brief overview of techniques for improving the day to day life of the beleaguered financial director – with some examples of just how other SMEs across the UK have followed these steps and achieved quantifiable business improvements.

Corporate financial management in enterprising companies: Infor (January 2008)

Finance executives must meet a growing number of complex demands and challenges if their companies are to reach the next level of profitable growth. Operational excellence around core financials is certainly essential. CFOs and their teams are expected to standardise transactional processes and deploy effective and efficient financial systems. They must deliver strong performance in everything from cash management to regulatory compliance to merely address foundational financial requirements. But finance executives can’t stop there. To differentiate their companies and take their own careers to new levels, they must focus on strategic financials. They need to provide forward-looking insight that enhances strategic planning and decision making. They must extend the capabilities of their financial systems beyond core activities into new areas, automating more processes and driving productivity gains still higher.

Are you outgrowing your finance system?: CODA (October 2007)

Technology is an essential tool in today’s economic environment. And while it is possible to survive without the latest business applications, relying on antiquated finance systems which are unable to handle multiple languages, currencies, companies or different reporting regimes effectively, could seriously threaten your corporate health. Whether it’s international trading, buying or selling new divisions, diversification or just growing the business, companies can easily find themselves losing out to competitors that are simply more technologically advanced. Moreover, as the regulatory environment becomes more complex and the call for good governance and sustainable value creation more powerful, relying on outdated systems that cannot produce accurate, timely or reliable data offers little assurance. Growth strategies, therefore (however good), can simply become glorified statements if a company hasn’t equipped itself with the right tools to execute them effectively. However, for many organisations, concerns over system implementation and the costs involved are a definite turn-off. After all, if it isn’t broken, why fix it?

The convergence of corporate social responsibility and IT: Lawson (October 2007)

Corporate social responsibility (CSR) is a concept that has been around for decades; however, a heightened interest in the role of business in society has resulted in organisations in all industries and regions of the world re-evaluating how they impact their stakeholders. This white paper will provide an overview of CSR, explore what organisations are doing in this area, and outline a process for you to establish your own CSR programmes. It will also provide an overview of the Lawson approach to leveraging information technology to help organisations manage their CSR programmes. CSR, also known as sustainable development or corporate citizenship, has many definitions. For the purposes of this white paper we’ll highlight two of the more recognised and accepted definitions.

Health and community enterprise solution: TechnologyOne (August 2007)

As in all sectors, health and community organisations are experiencing an unprecedented period of change. An environment of escalating regulatory requirements, increasing demand for services and a proportionally decreasing funding base will continue to place pressures on already over-burdened organisations; as will the race for additional revenue for privately run organisations. The need to optimise resources has never been greater. Whether your organisation is publicly funded or privately run, you should aim to: increase customer satisfaction – happy customers require fewer resources; increase market share – scale can provide cost efficiencies; reduce total cost of ownership of IT systems – leverage your investment in IT; keep pace with regulatory requirements and compliance – you can’t afford not to; streamline your supply chain – ensure you optimise your purchasing; maximise your overall profitability – a delicate balance of all of the above; and integrate all front and back-office IT systems.

The strategic CFO: Infor (August 2007)

Finance executives must meet a growing number of complex demands and challenges if their companies are to reach the next level of profitable growth. Operational excellence around core financials is certainly essential. CFOs and their teams areexpected to standardise transactional processes and deploy effective and efficient financial systems. They must deliver strong performance in everything from cash management to regulatory compliance to merely address foundational financial requirements. But finance executives can’t stop there. To differentiate their companies and take their own careers to new levels, they must focus on strategic financials. They need to provide forward-looking insight that enhances strategic planning and decision making. They must extend the capabilities of their financial systems beyond core activities into new areas, automating more processes and driving productivity gains still higher.

Financial controls and Sarbanes-Oxley: Lawson (August 2007)

Meeting Sarbanes-Oxley (SOX) Section 404 and 409 financial auditing and reporting requirements is a major challenge for publicly traded companies in the United States. Similar legislation introduced by the European Union adds to the challenge for multinational businesses. Extensive reviews of financial controls by hundreds of companies during 2004-2005 revealed that for mid-market and larger businesses, ‘control’ over SOX auditing and reporting requirements requires identifying and monitoring thousands of interactions involving employees, financial accounting and ERP applications, other IT systems, third-party outsourcers and subcontractors. Lawson Software suggests a framework for putting the SOX compliance challenge into perspective and simplifying and streamlining the process by leveraging the power of ERP, workflow automation, and automated SOX control management activities.

Corporate financial management in enterprising companies: Infor (May 2007)

On the wrong side of a software acquisition: FSN Publishing/ CODA (May 2007)

The widely predicted shakeout of the software market for ERP and financial solutions is well underway. The software industry, like many other sectors before it is consolidating, fuelled by the effects of rampant globalisation, the convergence of technology and liquid capital markets with an apparently inexhaustible supply of funding for mergers and acquisitions. But the impact of this turmoil on customers is frequently underestimated, especially by the deal makers, investment bankers and private equity houses. Whilst companies can readily change their supplier of fleet cars, recruitment services, banking, insurance and air travel, the same is not true of their software supplier. ERP and financial software is part of the ‘DNA’ of a company that threads its way through every functional area and business process. It can be a source of strategic advantage that imbues an organisation with competitive edge, as well as day-to-day processing efficiency. Moreover, in today’s networked economy, systems reach out beyond strict organisational boundaries and deeply into the supply chain, customers’ and other stakeholders’ systems.

A director's guide: creating competitive advantage: Access Accounting (May 2007)

Most business people would agree that the ability to perform well in a competitive marketplace is essential to the success of any enterprise. The advances in global communications and the opening up of emerging economies over the past decade have accentuated the need for such performance levels. Pinpointing the factors necessary to establish competitive advantage can be a challenge – but this is a challenge well worth facing. Indeed some analysts would argue that only those companies that do successfully establish a competitive position will survive and prosper in the medium to long term. In this booklet we explore the three steps companies can take towards creating their competitive advantage: 1. Understanding what competitiveness means within their particular marketplace. 2. Identifying the key factors that contribute towards their competitive advantage. 3. Exploiting the technology benefits of their business systems to stay ahead.

Mid-sized companies and the challenges of growth: EIU/Sapphire Systems (Apr 07)

Mid-sized companies are important engines of economic growth in many countries, and they have an enormous appetite for expansion. But, as shown in this new report written by the Economist Intelligence Unit and sponsored by SAP, they face their own, very particular set of challenges as they seek to grow. A majority of survey respondents (62%) profess their firms’ intention to grow at an ‘optimal’, or sustainable rate, indicating a recognition that overly rapid growth can strain their financial, human and physical assets. The report includes the findings of a wide-ranging global survey of 3,722 senior executives – half of whom were at the level of CEO, CFO and other C-level positions – conducted by the Economist Intelligence Unit from October 2005 to January 2006. This is the flagship white paper in the mid-sized companies series, which will also include separate analyses of research findings for Europe, Asia-Pacific, Latin America, each of 18 individual countries and four sectors.

Evaluation, selection and implementation of accounting s/w: Access (April 2006)

The decision to change your accounting software is not one to be taken lightly. The initial recognition that there is a need for change, including a full review of the current system, can itself be a long process. Then there is the task of selecting the right package for your business from the vast array on offer – making the wrong decision can have detrimental effects on your business. This guide is designed to give you some helpful advice on what you should be looking out for throughout the key stages of the process.

Profit versus process: Maconomy (April 2005)

The Profit Versus Process research report was commissioned by Maconomy to better understand how consultancies in the UK approach the issue of profitability against a backdrop of service-based processes. Petitioning board-level executives of consultancies across the country, the research finds that there are high levels of satisfaction with existing systems and processes. There is, however, a significant desire to review the influence consultancy processes have on company profits.

Integrated compliance: Richard Spong, Sterling Commerce (February 2005)

The current pursuits of industry control, self-regulation, and standardised best-practice are well-founded in terms of stakeholder protection. The pursuits are not unique to any sector. Regulations and international standards now apply to foodstuffs and consumables, corporate governance, retail commodities, education, energy, forestry and fishing, traffic and travel – in total across perhaps most aspects of both business and private life. So the finance sector is not being singled out for any special treatment in facing a barrage of inbound regulation – it’s happening all around. Yet there are some unique aspects to finance sector regulation, and the most significant of these may be the diversity of it.

Clarifying the confusion about IFRS et al: Richard Fisher, Assetware (Feb 2005)

Over the past few years, the accounting and business press has been full of articles about corporate governance, IFRS and Sarbanes-Oxley. Many of these go into a lot of technical detail, but don’t always clarify the basics. Sometimes the more you read, the more confused you become. A huge number of organisations have still not taken on board the new requirements. In fact, many are not even clear about the fundamentals. Assetware Technology’s ‘Clarifying the Confusion’ Guide, from which this briefing is extracted, has been written to clarify basic issues such as: what does corporate governance mean?; what is IFRS?; what is Sarbanes-Oxley?; and will your organisation be affected by them? The Guide alerts organisations to the issues, introduces and explains the terminology, indicates which types of organisation are affected by the different initiatives and provides a starting point for finding out more.