10 rules for selecting budget management software

Article Abstract:

Budget management software is the latest category of business management software to emerge in the market. Expected to pass the $700 million mark by the year 2000, it has become the fastest expanding category in the global business management software market. A good budget management software has to be flexible, supports multiple users and allows budgeting functionality. To become truly flexible, a program should have a multidimensional engine that supports bidirectional arithmetic, a flexible and efficient approach that ably addresses partial calculations, and support for sudden shifts in hierarchy or complex computations. To be able to support multiple users, it also has to offer a common and instant access to a single database, and line-item security in every aspect. The five rules that should be followed to ensure purpose-built budgeting functionality are also discussed.

Software, Business budgets

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Sunsystems financial management software

Article Abstract:

Concurrent Computer Corp realized the significance of accounting information when it applied the Sunsystems accounting and financial management software for its overseas operations. The Sunsystems software allowed the company to record and code each transaction according to account number, department, product sold and market sector. In addition, the software has a multiple currency ability which enabled the company to convert transactions into various currencies. Files could also be transmitted to the US from any of its operations abroad. Furthermore, the software is compatible with major local area networks and operating systems. However, the use of accounting software may not be feasible for all companies. In selecting international accounting software, multicurrecy and mutilingual abilities, functionality and program flexibility are some of the factors to consider.

Electronic computers, Computer industry, Information management, Concurrent Computer Corp., SunSystems (Integrated accounting software)

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What you need to know about accounting and finance software

Article Abstract:

Management accountants and financial managers are increasingly involved in software selection. Choosing new accounting and finance software is not an easy task given the vast range of packages available, the frequent release of new products and the difficulty of finding reliable information. To prepare themselves for the challenges of software selection, accounting students are advised to learn how to use graphical frameworks which can help them evaluate software in an orderly fashion, and to keep abreast of higher-level technology trends and identify those proven technologies. Future management accountants and financial managers are also advised to determine the research tools available to them, to consider the requirements and budgets of their organizations, and to gain hands-on experience to better relate with the information systems and accounting departments.

Practice, Financial management, Managerial accounting

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