Finance directors told to boost their decision-making with SEM systems.
| Author | Townley, Gemma |
| Position | Strategic enterprise management software - Brief Article |
Speakers at last month's E-financial Software Solutions conference urged delegates to boost their management processes with new generation web technology, writes Gemma Townley
The internet is set to change dramatically the way CFOs and finance directors manage their businesses. It will increase links between performance and strategy, and lead to more processes being automated. "Every aspect of the CFO's remit can be improved on by utilising web technology," said David Jones, director of management consulting services at PricewaterhouseCoopers, at software conference and exhibition E-financial Software Solutions last month.
Where enterprise resource planning (ERP) systems automated mundane tasks and integrated business processes, the new generation of software solutions, strategic enterprise management systems (SEM), aim to improve management decision-making with integrated frameworks for corporate strategy, resource allocation and planning, performance management, compensation and reward, consolidation, business information sourcing and more. "This is not ERP re-branded," Jones insisted. "It's about delivering enhanced value."
The premise of SEM is that businesses need to focus on more than just the financial aspects. Shareholder value, customer management and employee commitment are just as important and, until you can manage these areas of your business with intelligent, analytical tools, you will not be running your organisation effectively.
Nigel Youell, marketing director of Comshare, agreed. "Companies have consolidated their processes, but they need to do the same for management processes. It's about being able to make decisions quickly because all the information is available in one place."
And while all the big players have launched SEM solutions with enthusiasm, you don't need SAP or Oracle to benefit. "The ERP vendors do have SEM solutions that bolt on to their existing ERP systems, but if you don't have an ERP system you wouldn't want to start with SEM," explained Jones. "And while it can be useful to have one...
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