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Advancing ERP Technology
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Enterprise resource planning (ERP) systems are considered ancient in technology years. However, the benefits of using ERP systems have waxed, not waned. ERP systems can not only help streamline financial processes, but other business processes within the organization.
ERP solution providers are constantly improving on their existing solutions. In this issue, learn how advances in ERP technology are defining the standards within the technology industry.
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| Ashley Jones – Editor
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ERP vs. ERP |
Organizations often implement enterprise resource planning (ERP) systems to help streamline their many operational and financial processes. Most ERP solution providers offer robust modules that are solely tailored to automating the accounts payable function. Virtually all ERP providers offer some form of electronic invoice receipt and some automate the task of extracting the invoice data and populating the fields within the ERP system.
Many ERP systems also process disbursements, record information into the general ledger, and give organizations the option to define the rules of workflow according to their needs. Some solution providers also offer separate travel and entertainment (T&E) expense reporting modules.
In the span of two years, Forrester Research has changed its opinion of the two ERP software giants, Oracle and SAP, and their new applications. In 2006, Forrester believed SAP would remain the leading solution provider. Now, Oracle may hold the number one spot. Check out Patrick's Blog to find out why on TAPC.
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Early IFRS Adoption Will Cost Firms Millions |
The SEC estimates that organizations eligible to adopt the international financial reporting standards (IFRS) as early as the end of 2009 will incur over $30 million in additional expenses. Read the story on TAPC.
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Just for Fun |
The wonders of Mother Earth never stop amazing people; especially the scientists and engineers who used shark skin as inspiration for a new fabric for Speedo (Michael Phelps was wearing these as he swam to 8 gold medal victories at the 2008 Beijing Olympics!)
Check out Ten Innovations Inspired by Nature to find out what natural wonders are inspiring some exciting new inventions!
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