ERP and Accounting Systems

New System, Meet the Old System

By Pam Miller, APMD Implementing a new AP system, whether it is the AP module of a larger ERP implementation or a stand-alone AP imaging, workflow, or e-invoicing application, is both exhilarating and terrifying. It offers an opportunity to review, update, and implement needed and wanted changes. Yet it can also bring uncertainty and a... Read more »
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The Goal Remains – Means and Methods Evolve

By Pam Miller, APMD As many AP professionals can tell you, getting permission and funding for an AP automation project can take a very long time—several years in some cases. But what if, during the time it takes to win approval for your pet automation project, the project you are so invested in becomes old... Read more »
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Controllers Work to Tighten Spending on ERP Package Customization

The 2010 ERP Report by Panorama Consulting Group outlines findings from nearly 1,600 ERP implementations worldwide. The study captures information about delivery models (on-premise vs. software as a service—SaaS), benefits realized, and budgetary information. ERP Often Falls Short of Expected Benefits: “The total cost of ownership is higher than expected: $6.2 million, or 6.9 percent... Read more »
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Strategies for Next-Generation ERP Implementation Success

Average cost of ownership of an ERP implementation is $6.2 million and average implementation time is 18.4 months. Those are the findings of a four-year study of 1,600 ERP implementations worldwide conducted by Panorama Consulting Group. (To download, click here.) Despite the cost and time, the study finds, only 59 percent of clients realized at least... Read more »
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Tips for Transitioning from Desktop to Online Accounting Software

Are you contemplating a switch from traditional desktop accounting software to an online accounting software platform? Consider this advice. Before making a change, controllers should carefully weigh the pros and cons of desktop and online accounting software, says Greg Lam, a writer for The Sleeter Group Consultants Network. Desktop Accounting Software Pros. “Desktop accounting software is generally faster... Read more »
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FASB Financial Reporting Update

In late March, the Financial Accounting Standards Board (FASB) issued new guidance designed to improve private-company financial reporting on the consolidation of lessors in some common control-leasing arrangements. Current GAAP Requirements Under the current U.S. Generally Accepted Accounting Principles (GAAP), a company is required to consolidate the financial reporting from an entity in which it... Read more »
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It’s a Brave New World in ERP—But Challenges Remain

New ERP technologies are promising that the days of huge costs, long implementation times, and constant need for upgrades are behind us. While there’s truth in these promises, controllers need to investigate and weigh the options carefully before making any decisions. Controllers are being bombarded with promises of new technologies that can deliver all the benefits... Read more »
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ERP Implementations

Even at smaller companies, the average estimated cost of an enterprise resource planning (ERP) implementation now exceeds $1 million. Proof: According to the 2007 Technology Issues for Financial Executives, the current version of an annual survey published by Financial Executives International (FEI), the average estimated planned spend for ERP projects is: for companies have some negotiating... Read more »
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Lowering Costs with Open Source ERP

Enterprise software, introduced more than 30 years ago, has become a critical component of doing business today. The ability to coordinate operational and financial processes in a single piece of software eliminates redundancy and reduces paper. Another critical component of doing business today is cutting costs. While enterprise resource management (ERP) systems typically justify their... Read more »
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ERP and the P2P Process

Module or Suite?Electronic InvoicingDocument WorkflowProcessing PaymentExpense ReportingWhat’s This Going to Cost?You’ve Decided to Implement ERP…Now What An enterprise can appear almost chaotic from the outside looking in, as different departments perform a multitude of seemingly unrelated tasks. One of the most difficult things for many companies is learning to bring order to their various operational... Read more »
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