Oct 2, 2014

To be or not to be on top of data quality for governance compliance

The industrial age began when companies were able to repeat endlessly the same process with a consistent result, which meant they could deliver their promises to a larger customer base. Today, there is no question for companies whether they should or should not be on top of data quality, or whether their governance should be compliant or not. For them, not to be compliant or not to be on top of data quality means reduced margins, a shrinking customer base and reduced access to vital markets. The barriers to data governance are erased when an organization adopts the techniques and best… Read more

Mar 27, 2014

Finance Transformation – How to Buy Back Time

Patrick Leonard and Fred Hargrove’s Finance Transformation Challenges white paper covers finance transformation. They found that even though business literature on finance transformation is abundant, “most of what is available –focuses on the drivers of finance transformation, the ‘Why,’ the ’What’ and the ‘Wow.’ However, there is very little available that addresses the challenges of executing finance transformation, or the ‘How.’ “ So, how do you transform your finance operations? How do you buy back time? Organizations often apply the word “transformation” to any effort which improves operations by making changes to people, processes, or technology. But simply changing one… Read more

Mar 21, 2014

Manual Journals: is your lack of control an issue?

Manual journal entries are considered high-risk transactions for SAP finance professionals for a number of reasons, including their susceptibility to fraud and overriding of controls.  So, with all of the concerns here are some of the important aspects to consider to ensure you have full control over your journal entry process. At a recent event, experts from Price Waterhouse Coopers (PWC)  highlighted that there are a number of ways to implement mitigating controls to handle manual journals. The experts pointed out it’s relatively easy to use these entries to manipulate financial records. Material misstatements of financial statements due to fraud often involve… Read more