The term outsourcing can have a negative connotation,
conjuring images of layoffs and relocating jobs to third parties
in remote locations. However, outsourcing can take many
forms, and finance and accounting outsourcing (FAO) does
not always mean the displacing of the finance back office.
Specifically, FAO leverages digital technology to complement
and support the back office, streamlining processes while
providing enhanced transaction processing, reporting and
analytics capabilities. It also allows key resources to focus on
strategy, analysis and decision-making.
This whitepaper looks into Governance, compliance, control, and audit, and how its been traditionally treated as afterthoughts, or even irritants, in the financial modules of classic “big ERP” software. It has been easy and, unfortunately, typical to ignore this topic when planning, building, and evaluating enterprise business software. Control concepts are not as urgent as transaction processing, as visible as financial reporting, or as exciting as analytics so they are almost always an afterthought. Today we can’t afford for governance to be an afterthought, and from day one Workday was built with that in mind.
Sanctions screening and fraud prevention solutions use real-time detection to prevent terrorist financing and financial crime; whereas anti-money laundering (AML) primarily follows an “observe and report” process. Such a process is all that is currently required by many regulators. Increasingly though, international compliance teams are choosing to stop transactions before they are executed – based on suspicions of money laundering activity. More and more, the industry has been asking itself if this approach of rejecting suspicious activity is a more effective strategy to prevent money laundering. This paper explores where and why AML real-time detection might make sense as a new paradigm for global financial institutions.
Stakeholders increasingly expect more from the finance function than transactional processing and historical reporting. Will you meet the challenge or are you at risk of getting left behind?
Read this report to understand:
• what CEOs are looking for from their finance functions
• six priority areas CFOs should focus on to meet new demands from the business
• how leading companies are transforming their finance functions
• five steps for turning disruption into opportunity.
NPMD solutions are typically not directly involved in the actual card cardholder transaction. However, given that many can potentially capture and transmit cardholder data they must be viewed as an integral part of a business’ PCI DSS compliance strategy, especially when investigating data breaches for the purposes of reporting or remediation.
Therefore, beyond satisfying your service delivery monitoring and troubleshooting requirements, be sure to verify your NPMD solution protects cardholder data and aids your efforts in PCI DSS compliance.
Published By: Aon Hewitt
Published Date: Aug 02, 2016
As the trend of moving to the Cloud continues to flow from business function to business function, other trends are emerging. As organizations transform to eliminate complex functions, standardize and integrate systems to reduce costs, and minimize nonvalue add activities, they are challenging themselves to get the most from their investment. The shift from transactional to strategic, and from reporting to actionable and predictive analytics, positions companies for growth like never before. Many organizations look to break down silos, not only within their company but also within their industries, to share lessons and leverage efficiencies from others’ learnings. Our recommendation is to start by breaking down any silos that exist between finance, HR, and IT within your organization today—and discover what moving to cloud and truly adopting the SaaS lifestyle can do for your organization.
More and more companies are moving to the cloud for B2B services, and for good reason. There’s a huge potential for increased visibility and analytics-driven insights to be gained from B2B transactions that can give businesses unprecedented levels of information. But many organizations continue to struggle when it comes to going beyond basic transactional data and historical performance metrics. What does it take to not only report on past activity, but to get real-time alerts, predict future events, manage exceptions, and proactively leverage this wealth of data in order to put it to work? Read this IBM white paper to find out how B2B Services Reporting and Analytics provide new insights into your trading partner relationships and to drive better, more profitable business decisions.
As today’s global marketplace becomes more sophisticated, the number and complexity of mission-critical financial transactions that companies conduct on a day-to-day basis continues to grow exponentially. Even small and mid-sized businesses are plagued by a rapidly increasing volume of financial processes that are highly
intricate and multi-faceted. These activities, while important, are administrative in nature and often distract staff from more strategic planning initiatives that directly impact company prosperity and growth. Additionally, as legislative pressures continue to grow, and the rules imposed by Sarbanes Oxley, BASEL II, and other regulations become more stringent, businesses need to find better ways to ensure compliance by effectively logging, tracking, auditing, and reporting their financial data.
Historiquement les notions de gouvernance, de conformité, de contrôle et d'audit n'ont été pensées qu'après coup dans les modules financiers des logiciels ERP classiques. Ce sujet a longtemps été ignoré à l'occasion de la conception, du développement et de l’évaluation des logiciels de gestion d’entreprise. Le contrôle n’est pas aussi urgent que le traitement des transactions, pas aussi visible que le reporting financier ou pas aussi passionnant que le décisionnel. Il vient donc souvent dans un second temps.
De nos jours, la gouvernance est devenue centrale. C'est sur ce précepte que Workday a conçu ses solutions.
Au début des logiciels de gestion, dans les années 80 et 90, le contrôle était loin d'être une priorité. Les lois Sarbanes-Oxley, Basel II et IFRS n’existaient pas encore et « l’audit hors logiciel » était monnaie courante. Les « gros ERP » ont résolu ce problème comme ils le pouvaient, en rachetant des technologies ou en créant des fonctionnalités qui ont été ensuite intégré
DatacenterDynamics is a brand of DCD Group, a global B2B media and publishing company that develops products to help senior professionals in the world's most ICT dependent organizations make risk-based infrastructure and capacity decisions.
Our portfolio of live events, online and print publishing, business intelligence and professional development brands are centred on the complexities of technology convergence. Operating in 42 different countries, we have developed a unique global knowledge and networking platform, which is trusted by over 30,000 ICT, engineering and technology professionals.
Data Centre Dynamics Ltd.
102-108 Clifton Street
London EC2A 4HW