Earlier in the fall, we wrote about data integration and touched upon its importance to the performance of financial management software.
Now, we pick up that thread and delve further into the overall value of integration. And, with a series of follow-up posts, we’ll examine some of the benefits specific industries could achieve through tight application integration between financial management software and other key systems.
Each company has its own special blend of critical software applications. Some firms have dozens of back office systems in place; for others, that number may be in the hundreds. Regardless of the number of applications, just getting the information you need when you need it can be daunting.
In 2011, 2012 and beyond, financial executives will be under increasing pressure to be smarter, possess more intelligence about corporate trends, and be hyper-responsive to the myriad factors that will influence business. The good news is that this is an opportunity for financial executives and the accounting discipline to become more strategic as the line between accounting and business intelligence continues to blur. Gone are the days of simply creating a report. If they haven’t already, CEOs will demand to know the meaning of the report and the context of the information.
With real-time application integration, a financial executive can stay on top of the most important trends that impact the business, no matter what the industry. At the core are real-time financial postings, validations, and updates, centrally located account data, and accounting functions that are available as a service to external applications. To learn more on how to maximize the value of your enterprise business systems through integration, download our free integration white paper.
In our next posts, we’ll examine just how that real-time application integration could play out in various industries, including transport and logistics, retail, and insurance.
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