Archive for the ‘Uncategorized’ Category
ABC Inc arrives at a revised IT ecology of QAD for Manufacturing, Inventory, Sales and Distribution and
SAP for Purchasing and Financial incl consolidation. ABC achieves the dual structure with 30% reduction in cost and time for execution. But how does ABC plan to achieve 30% reduction in cost & optimum TCO in this approach? It has to contend with implementation of both QAD & SAP and yet attain cost balance.
Considering the impact areas, IFRS convergence has considerable challenges. Especially for companies with multiple operations, multiple sites and multiple system. It is the internal complexities that companies have built over a period of time, that makes IFRS adoption difficult.
Compliance to Sarbanes-Oxley (SOx) and other Internal Control requirement is a business compulsion now. Ongoing compliance is essential to maintain financial certification, making SOx a daily part of transaction processing. If not for SOx, for companies coming under IFRS Convergence, will have to address the same for financial reporting purposes.