Posts Tagged accounting
Reconciliations: It Doesn’t Have to be This Way!
Posted by ryan.alford in Uncategorized on July 15, 2010
Check out InsightSoftware.com’s cartoon about JD Edwards reconciliations:
http://www.youtube.com/insightsoftware#p/a/u/0/RspO90mFy8w
Stay tuned for more in the series. Let us know what you think!
Reconciling the Accounts in JD Edwards Doesn’t Have to Suck!
Posted by ryan.alford in Uncategorized on July 12, 2010
A company’s financial prowess and compliance go hand-in-hand. Without proper insight and strategic oversight of the business, many of today’s top global companies are missing a large piece of the financial puzzle.
CFOs should maintain the perfect balance between strategy, planning, forecasting, budgeting, reporting, and analysis. This is more simplified (and cost-effective) by having an automated process for account reconciliation. Without a monitoring system in place, performance improvements will be limited.
In a research report called “How to improve reconciliation activities,” published by PriceWaterhouseCoopers, many “account reconciliation problems are preventable. Timing, is also frequently an issue: account reconciliations that are in arrears more than one month risk misstatement of the financial results. Depending on the level of risk, perform reconciliations daily, weekly, monthly, or quarterly.”
Curious to know what to do about reconciliation problems in JD Edwards? Implement automation that recognizes reconciling items and streamlines the review process.
Read more: http://www.insightsoftware.com/docs/E-Book_-_Insight_Reconciler.pdf.
Do all signs point to an unorganized implementation of Order-to-Ship?
Posted by ryan.alford in Uncategorized on July 1, 2010
It’s not an easy job. An optimized Order-to-Ship business process offers continual progress towards improved cost control and delivery performance.
However, there might be a few challenges in the systems, including:
- Rework to correct data accuracy issues
- Late shipments and setbacks in delivery performance
- Increased customer complaints
- Time spent on complaint resolution
- Poor management of backorders
- Inefficient order processing and fulfillment
- Untimely invoicing
- Diminished cash flow and sales margins
In an Aberdeen Research study called “Working Capital Optimization: Increase Cash Flow in the New Economy,” author Nari Viswanathan said that “Best-in-Class companies are 30% as likely as all others to use cash conversion metrics as part of their supply chain organization metrics. Companies that embed cash conversion metrics into the set of supply chain metrics are twice as likely to have reduced their cash conversion cycle over the past year (45% versus 21%). Some of the key metrics that have been adopted as part of the process are: Sales forecast accuracy, on-time shipping, on-time delivery, inventory turns, logistics costs as a percentage of sales, and gross profit margin.”
Achieving an on-time shipping and delivery system is an industry standard met by few. Using JD Edwards can get you on your way, but will only take you so far.
To read more, click here.
Sox the Owl Appears on eBay!
Posted by ryan.alford in Uncategorized on June 17, 2010
When InsightSoftware.com was known as The GL Company, “Sox the Owl” was it
s mascot. Nowadays, Sox’s memory lingers in the form of fond trade show photographs and tchotchke giveaways.
Recently, one of those giveaways surprisingly appeared on eBay: http://bit.ly/9SK8hm. The auction describes the plush bean bag character as a “rare collectible” and “retired and no longer being manufactured.”
Sox is going for an opening bid of $7.99. Here’s our auction (or contest):
Do you have a “Sox the Owl” memory you’d like to share? Send your thoughts to marketing@insightsoftware.com.
All entrants will have a chance to win a Sox the Owl plush bean bag character – very rare and in great condition. “This cool looking owl would make a great addition to a collection!”
We’ll share your memories on this blog. Good luck!
JD Edwards Executive Luncheon in Greensboro, NC
Posted by ryan.alford in Uncategorized on June 9, 2010
Bring your appetite and join InsightSoftware.com and brij for a sumptuous meal and great networking on June 23, 11:30-1:30. You will see why InsightSoftware.com is quickly becoming the reporting tool of choice within the JD Edwards community.
With Insight you truly revolutionize operational reporting throughout your organization. Insight supplies solutions for functional areas such as: Finance, Human Capital, Supply Chain, Manufacturing and Project and Asset Management. Insight goes beyond mere reporting to drive productivity and profitability gains throughout your organization.
Leave with knowledge of the solutions that can help you optimize your business processes, all over lunch. We will treat you to lunch at the UNDERCURRENT restaurant . Click here to RSVP.
User Group meetings on the horizon:
Rocky Mountain User Group on June 10: http://bit.ly/diOd8T
JD Edwards Southeast Regional User Group in Atlanta, GA on June 17: http://bit.ly/9ewZJR
Eastern Canada Regional User Group on June 21 in Mississauga: http://bit.ly/9zCbOF
Forecast-to-Make: A Structurally Sound Process?
Posted by ryan.alford in Uncategorized on June 1, 2010
Do you experience materials shortages and capacity constraints? It’s vital to increase productivity and information accuracy by proactively ensuring that key managers and users can access accurate and timely information to make sound, in-the-moment decisions.
Running a world-class operation starts with the necessity for at least 99 percent accuracy of Item Master data. For many, this is easier said than done. However, with the correct tools the accuracy of Item Master records, Bills of Material, and Routings can be assured.
Once this initial foundation is secured, then focus turns to proactively optimizing scheduling to maximize available capacity and ensure availability of raw materials. Again, although JD Edwards stores meaningful information in these areas, many struggle to access real-time actionable information that enables optimized processing. Finally, having a full grasp of manufacturing cost variances and their drivers can make the difference in driving increasingly lower costs and fewer surprises.
With the correct tools you can unlock the rich data stored in JD Edwards to ensure the following: manufacturing tactics are aligned with the corporate strategy; forecasted demand matches market requirements; manufacturing processes are tuned to meet forecasted demand; and that ongoing reduction of cost and variances is possible.
To read more, click here.
Mark Kolanach in Da House!
Posted by ryan.alford in Uncategorized on February 22, 2010
As you may already know, InsightSoftware.com hired Mark Kolanach as the U.S. regional manager for the Southeast.
Based in Raleigh, N.C., Mark has an extensive background in business intelligence. This includes roles in pre-sales and sales at Oracle and QlikTech.
Here are Mark’s top goals (and some random thoughts) for his new role:
- “I plan to evangelize our solution in the Southeast. In this region of the U.S., many companies deserve the opportunity to discover the Insight difference.”
- “I’ll also focus on mid-market companies. Without millions to spend on data analysis tools, they need a way to improve their margins and efficiencies. We can enable companies to identify ways to do this in days or weeks versus months – at a price point they can afford.”
- “Insight’s short ‘time-to-benefit’ is key for companies needing better access to real-time data. We simply solve problems NOW, instead of selling them on a vision of what they can possibly have in six months.”
- “We help organizations simplify how they measure themselves against their annual strategic objectives. How many hoops are they jumping through to gather accurate metrics now?”
So, what excites Mark about the Insight product?
“The most exciting thing for me about our product is the time-to-benefit. You can literally make the decision to work with us in addressing your data analysis needs today, and then use the tool tomorrow. Since we just plug into the ERP system, Insight is completely preconfigured to work immediately.
“Our pre-packaged solutions are functionally designed to address the areas of greatest benefit: Procure to pay, order to ship, month end close and many others. The return on investment is very short for many of our customers. That is the reason I joined InsightSoftware.com. There isn’t a lot of satisfaction in identifying areas of great need in an organization and then telling them how they can address them in a month, or even six months from now. Six months to benefit just doesn’t cut it in this economy.”
NAUG Earlybird Registration Deadline Extended!
Posted by ryan.alford in Uncategorized on February 1, 2010
InsightSoftware.com extended the deadline for its North American User Group earlybird registration – now Feb. 28.
Scheduled for March 21-23, the meeting will take place at the Hyatt Gainey Ranch Resort in Scottsdale, Ariz. All users of Insight’s software are invited to attend.
Taking the meeting spotlight, NAUG attendees will receive a sneak peek of Insight Version 10. The new version features an updated (and very slick) user interface, integrated reporting enhancements, and a new community portal that incorporates social media. Attendees also receive a comprehensive update of their Insight solution and networking opportunities with other Insight users.
Register today: http://www.insightsoftware.com/naug/registration.html.
Important Industry Webinars to Attend and/or View
Posted by ryan.alford in Uncategorized on January 29, 2010
It’s definitely the season for free Webinars. If you enjoy learning more about the goings-on in the Oracle world and beyond, it’s a good idea to keep reading.
On Wednesday, Feb. 3 (10 a.m. PT/1 p.m. ET), plan to attend the following Webinar: “JD Edwards & Oracle: The Strategic Platform for Business Growth.” Lyle Ekdahl, group vice president for JD Edwards will provide a 10-minute update on the “future of JD Edwards.”
In addition, Bill Black, chief financial officer for Arcturus Realty Corp. will join Lyle for a discussion on the ease of upgrading to 9.0 and Tools 8.98. Of course, we’re especially excited about this Webinar because Arcturus is a loyal InsightSoftware.com customer.
You will also have the opportunity to talk directly with Lyle and Bill during the Webinar’s Q&A session. Don’t miss it! To register, visit http://bit.ly/badWvo.
Recently, Oracle announced its plans to combine with Sun Microsystems. If you managed to miss all this important industry news, it’s never too late to catch up on the happenings. Oracle is offering an on-demand Webinar series called the “Oracle + Sun Product Strategy.” Learn more about the merger and what it means for you: http://bit.ly/cMaX07.
If you’re in the finance and accounting industries, you’ve probably heard a little bit about International Financial Reporting Standards (IFRS), which are standards, interpretations and the framework adopted by the International Accounting Standards Board (IASB).
The United States has been slow to adopt IFRS. However, countries like Canada, India and many others are planning to adopt the standards or already have. As the pressure grows for the U.S. to use IFRS, many companies are scrambling to find out how to prepare.
The American Management Association (AMA) hosted a Webinar called “From GAAP to IFRS: How to Survive the Accounting Revolution.” The prerecorded Webinar highlights how IFRS will affect the format of financial statements and increased requirements for systems support and data tracking.
To view the Webinar, it’s required to register for a free membership with the AMA: http://bit.ly/cSvPPy.
InsightSoftware.com also has a few Webinars for your viewing pleasure – specifically the most recent Webinar, “Hierarchies – new and improved functionality in Version 9.0.3.” Check it out: http://bit.ly/aZceS6 (scroll to the bottom of the page for the most recent editions).