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Trends in IT

Are your IT systems fit for the future?

With markets changing at an ever more rapid pace, top management often finds itself having to make important decisions at short notice. To facilitate these decisions, you need a reliable system of reporting that clearly reflects your company's financial situation. When the business is growing, the primary focus is on the integration of year-end financial reporting systems that meet your statutory requirements for transparency. However, since accounting systems tend to reflect past events, these statutory reports can be too late or too imprecise to help manage your operating activities. In some cases, they may even leave important questions unanswered. Would you be able at short notice to find out the value of the receivables owed to all of the companies across your group by debtors in one specific country? In order to answer such questions, you need to integrate your financial systems throughout the group. Although integrated or inter-linked ERP systems are now very common for group accounting purposes, detailed information about financial transactions or financial planning is often still restricted to Microsoft Office solutions. Excel/Access-based solutions that are implemented in haste and then updated as the company grows can very soon prove to be inadequate. 

Integrated financial systems

The systems offered by established manufacturers can provide highly reliable technical support for the entire process of administering financial contracts (data storage, settlement, risk control and accounting) and of managing cash from financial and operational transactions. As long as your financial transactions are not too complex, you can meet your requirements by using the add-on modules developed by ERP providers. Treasury management systems from specialist niche providers can deliver effective solutions for companies of all sizes in the areas they need. There are also high-end systems that cover more complex requirements in the area of finance. If your finance division is involved in highly specialised transactions, it may be worth considering a software package that has been specifically developed for the banking sector. Based on our own observations, more and more companies are turning to these standard software packages. d-fine can help you to develop an appropriate IT strategy for your company, design the corresponding architecture, and select and implement a suitable system, all with due regard for cost-efficiency.

ASP/SaaS solutions and the Cloud

Companies are increasingly showing an interest in IT solutions that they do not have to maintain themselves, and that can be adapted more rapidly and more easily to equally rapid changes in their internal requirements and externally imposed conditions. Even in the area of financial management, there is growing interest in flexible, on-demand services such as ASP (Application Service Providers) and SaaS (Software as a Service) models. We would be delighted to discuss the benefits of these solutions (compared to the more conventional licensing model), their suitability for your own business and the best way to integrate them into your industry and IT processes. Of course, we can also go on to help you implement whichever system you choose to adopt.