IDU | Budgeting Forecasting and Reporting Solutions: September 2014

Monday, 15 September 2014

The silver lining of cloud computing

Many businesses put large amounts of time and money into investing in and managing their hardware and software. This is all fine and well if your business is in IT, but what about if it isn’t? How much money have you invested in technology you don’t understand? How many additional man hours do you expend trying to manage it yourself? How much money are you spending on hiring experts that cost a fortune and are not directly contributing to your business bottom line?

The shift to cloud services addresses this dilemma for businesses of all sizes. With cloud, there is no large upfront cost and most solutions are easily scalable, allowing you to add or remove user licences as needed. Our experience has shown that it allows us to offer solutions to businesses that might not have had access previously due to set up times, upfront purchase price or even location - cloud provides products with greater international reach.

When you own the hardware and infrastructure, it is your responsibility to maintain it, keep the security up to date, ensure that there is sufficient storage and that your backups are working and heaven forbid anything crashes or breaks down and you don’t have an internal specialist on staff – the cost of bringing in an external consultant can be prohibitively expensive. How much are you investing in an IT department to manage a system that is there to support your core function, not be the core function?

Moving into the cloud can be a daunting prospect, as many consider it the “unknown”, this is no longer the case with the proliferation of cloud services, and the many high level businesses that successfully use them should help ease your concerns. Remember, transitioning from traditional paper practices to IT solutions raised many of the same fears in the past and look at where we are now.

The data centres cloud providers use, have backups in place to prevent the loss of your data, ensuring your ability to recover it should any disaster hit – natural or otherwise. In addition to this, the physical security at a data centre far surpasses that which the average business could afford. So you are gaining a physical safety bonus as well.

Most providers will also include automatic updates, from software integrations, customisations, fixes and even additional products and features that can be implemented without any disruption to your business.

Cloud services not only allow you to refocus on your company’s key strengths and clarify your objectives, it also frees up large amounts of capital from hardware and software, allowing you to invest in your business and the people who will help you take it to the next level.

*As published in Accountancy South Africa magazine in June 2014

Monday, 1 September 2014

idu-Concept Spend Management

idu-Concept Spend Management is a comprehensive solution and a sophisticated add-on to most accounting and ERP solutions. It complements and extends the functionality of existing systems, increasing the combined value of the systems beyond the investment made.

This solution helps your company to work smarter, enhancing efficiency and accuracy in a centralised, paperless environment. It seamlessly links organisations that have geographically dispersed branches and divisions via web browser. The technology automates the full spending and procurement cycle and streamlines the purchase-to-pay process while providing end-to-end visibility.

The web-based, user-friendly interface is simple to navigate and requires minimal training and the EDGE License model enables 90 to 100% of an organisation to use the system, either directly or through third parties. This allows you to empower your employees to operate within their delegated mandate, without losing financial control.

The application makes a notable difference to your ability to manage all of the below:
      -  Purchase & Payables
      -  Expense Claims
Capital Expenditure Management
Petty Cash Management
Travel Management
Invoice Management
- Payment Management
Supplier Management
Leave Management
Catalogue Management
Receipting Management
Quotation Management
Credit Note Management
Document Management

Savings in time and costs will transfer directly to the bottom line in an increase in operating profits. Most clients achieve quantifiable ROI within 6 months of deployment and continue to experience savings moving forward. It also allows SMEs to experience the same ROI benefits as large corporates.

The system allows you to make informed decisions by generating on-demand, real-time reports for detailed spend visibility and analysis. Accruals are visible at a glance, enabling you to provide for expenditure before it is incurred. Detailed reports provide insight into all spending behaviour and budgets, including committed spend.

idu-Concept Spend Management is a certified third party application that leverages the power of the industry leading Fraxion Spend Management application. Allowing you to take control of your cash flow by authorising expenditure before it is incurred; it will save you money and increase your efficiency dramatically.