ERP (enterprise resource planning) systems serve as the backbone that enables the management of staff, equipment, and budget to facilitate business operations. The Financial module of an ERP system is one of the first places organizations look to help drive governance and controls.
As such, the financial module often serves as a primary driver for which ERP should be selected; as the management and tracking of operations must translate into financials reporting for:
- General Ledger (GL)
- Accounts Payable (AL)
- Accounts Receivable (AR)
- Asset Management (AM)
- Cash Management (CM)
There is an overwhelming number of software providers that stand ready to demonstrate how their solutions fit your exact financial management needs. Major players in the Financial ERP space include: Oracle Peoplesoft, Oracle Netsuite, SAP, Workday Financials, Infor Cloudsuite Financials, and Microsoft Dynamics AX. Many of these solutions are built to be configurable and flexible to meet most organization. There are also several Financial ERP vendors that have developed platforms targeted towards specific industries or specifically for mid-market companies.
Finding the right ERP Financials Solution
Jabian uses capability and process-based analysis to identify and prioritize solution requirements. We leverage our capability framework spanning Order to Cash (O2C), Record to Report (R2R), Procure to Pay (P2P), and Financial Planning & Analysis (FP&A) as a base to ensure the requirements capture is holistic. These requirements will be leveraged to differentiate vendors and ultimately serve as the basis for implementation.
Finding the right Solution Implementation Partner
A critical aspect to finding the right solution for your organization is that you must account for how to implement the solution. Most vendors will provide implementation services for their solutions to perform configurations, develop any required enhancements, and integrate to your enterprise architecture. High costs of quoted implementation services or concerns over delivery capabilities can lead to a need for identifying a 3rd party implementation partner. Most ERP solution providers will have a list of qualified implementation partners. Jabian can help you identify which 3rd party partner has the best mix of technical expertise, industry expertise, resources, and cost that fit your needs.
Finding the right Application Managed Services Provider
When solutions increase in complexity and require increasing levels of customization to meet business needs, then IT services are needed for support and maintenance. Outsourcing is often leveraged as a cost-effective means to have on-demand access to highly specialized technical resources to solution break fix or enhancement request needs. Jabian can help you identify an Application Managed Services vendor with the right blend of service level responsiveness, technical knowledge, ability to innovate, and cost structure that fit your needs.