Executive Overview

We are living in an ‘Information Age’, where the success of an organization depends largely on how effectively it collects, processes and- most importantly- uses strategic financial information. As an organization grows, there is a corresponding increase in the amount of data handled by the system, and a wider number of users requiring access to this data through management reporting. The complexity of reporting and analysis also increases as users at all levels of the organization demand access to up-to-the-minute information to support business-critical decisions. Historically, reporting and information have not always gone hand in hand: in particular reports that provide pages and pages of accounting data are not providing the type of timely, relevant information that underpin productivity and profitability. Today’s economic and regulatory climate places additional demands on the financial reporting function. External reporting to auditors, regulatory bodies and other third-party stakeholders needs to be accurate, complete and easy to produce, with minimal burdens on time, cost and efficiency within the finance department. The value of a financial system can be measured by two main outcomes:- Does it provide all the functionality needed to enable users to enter, process and manage transactions productively?- Does it deliver meaningful analysis and flexible reporting to empower management to make better business decisions