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Innovation in Financial Management

Sponsored By Workday

Topics:
Accounting
Business Software > ERP

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Abstract:
The truth is that ERP systems, while innovative in their day, have difficulty keeping up with the evolving business landscape. Although financial systems can still crank out journal entries and Generally Accepted Accounting Principles (GAAP) reports, the ERP technology model has struggled to provide the agility, visibility, and controls needed beyond basic accounting. New requirements?such as the need for internal governance and controls, rapid globalization, changing reporting standards like IFRS and XBRL, and several new accounting trends?have all been haphazardly appended onto the rigid, unyielding ERP core. The result is excessively large, complex, and expensive ERP ?solutions? that monopolize the time and energy of IT departments just to keep the lights on.
DETAILS
Sponsored by:
Released: February 28, 2014
Length: 12 pages
Format: PDF (502 kb)
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