The recently released movie 3 Idiots, based on 3 college graduates experimenting and challenging a deeply rooted, established education system, has turned out to be quite a huge hit in India. Taking a cue from the 3 Idiots, I cannot help but ruminate on the impact that the 3 Critical Changes will have on how the India Inc does its business?
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India Incs 3 Critical Financial Changes in 2011- will they be winner like 3 idiots
According to recent data collected by the Federal Reserve, bank loan volumes fell by more than $500 billion to nearly $6.7 trillion, a contraction of 7% in 2009. From a macro level, this contraction in bank lending jives as a lagging indicator in accordance with falling collateral values
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Think the New Year Will Bring an Increase in Bank Lending? Think Again.
It seems whenever I meet with prospects in Higher Education I keep hearing the same thing over and over again, we have a system in this department we have another system in this department but we don’t think what they have will work for our needs. How did this scenario come to be
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Tackling ECM in Higher Education Part One
Accurate and effective cost control is the most important solution aspect for any Projects based solution implementation. How ever how to determine the optimum level for cost control remains on of the biggest challenge in the solution. For Project based organizations (be it a typical E PC firm, for a professional services based firm or contract manufacturing firm), cost control is a very high priority requirement.
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Project cost control … But at what Cost?
In his world famous book ‘ The Fifth Discipline: The Art and Practice of the Learning Organization’, Peter Senge talks about the bull whip effect which essentially is how small ripples in demand create bigger ripples on the supply side. The Beer Game is a classic example of this bull whip effect and this applies to the IT industry as well.
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Minimizing the Bull Whip Effect in the IT Supply Chain
Today marks another milestone for the Exchange. To help even more companies convert their receivables into capital and optimize their cash flow management, today we announced the launch of our seamlessly integrated trading platform delivered through the Ariba Network .
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The Receivables Exchange, Ariba Deliver Powerful Receivables Financing Tool
Every company no matter how big or small has an Accounts Payable department. It may be as small as one person or it may have ten, fifteen or more people. For medium and large companies there are problems that arise with the data entry of all that invoice data and the tracking of all those invoices through the approval cycle. There have been many different methods that companies have created to try and handle both which still lead to missing/late invoices and mistakes during data entry. Methods such as logging the invoices either in a spreadsheet or manually on paper are just some of the types of methods that companies have tried to keep track of where invoices are and how long they have been waiting to be paid. Maybe there is a better way. Kofax KTM in conjunction with Oracle I/PM provides a solution to these two issues. Kofax provides two software packages to scan and then process documents like invoices. KTM is the processing part and is able to OCR and identify the key fields on an invoice no matter where on the page the data is located. KTM can also validate some of the data against the ERP system the company is running. Fields like PO Number, PO Release, Vendor Name, Vendor Address, Vendor Pay Site, Vendor Payment Terms and other fields can be read from the ERP system and added to the set of data held by KTM. KTM can then pass this data on to Oracle I/PM
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Accounts Payable Processing with Kofax KTM and Oracle I/PM
November 17th marks the one-year anniversary that The Receivables Exchange went live – the first day that accounts receivable were traded electronically in a transparent, real-time, online marketplace. Business history is filled with these moments, a myriad of different instances when the advent of some new technology facilitated behavioral change that resulted in a paradigm shift of how people conduct business
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Need Working Capital? The Ice Man Cometh
Oracle Project offers a very tight and out of box integration with other systems, which are typically, operational in nature. Oracle project connects with procurement, payables, inventory, WIP etc to collect the cost that is incurred for a particular project (and task). So basically if users are able to stamp a proper projects signature on all the transactions which are recorded in “operations” system like payables, procurement, inventory etc, the cost collection for a project really becomes very easy
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That’s not really a Project !
After months of efforts to stay afloat, CITs filing for bankruptcy yesterday sent shockwaves through the small and midsize business community, particularly retailers and manufacturers. Thousands of retailers and manufacturers are seeing their single source of liquidity evaporate before their eyes. Yesterday’s filing underscores the fact that companies can no longer rely on one primary source of liquidity
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Standing in the Wake of CIT Bankruptcy Filing
Scrapping for survival, CIT Group, the century old commercial lending giant that lends to nearly 1 million of the nation’s small and mid-size companies, is in the 11th hour as they continue to try to build bondholder support for its debt-exchange offer or prepackaged bankruptcy plan, going so far as to warn its bondholders last week, that without one of these 2 plans it would be forced to liquidate. Many have criticized the restructuring plan – why? At this point they are still struggling to gain bondholder support as the deadline for the debt exchange and pre-package plan draws near.
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CIT Amends Terms as Clock Ticks Away
Over the past few weeks, we have all heard news of the recession lifting, but this has yet to trickle down to Main Street U.S.A. With unemployment nearing 10% and capital still not flowing back to Main Street, many of the nation’s small and midsize businesses (SMBs) are wondering if it’s too late for them to survive.
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Obama Outlines Plan to Help Small and Midsize Business – Is it Enough?
Today The Receivables Exchange announced its alliance with the American Staffing Association (ASA), the voice of the nearly $90 billion staffing industry whose members account for 85% of U.S. staffing industry sales and operate more than 15,000 offices throughout the nation. Read the full press release .
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The Receivables Exchange Forms Alliance with American Staffing Association
In the U.S we can divide business into two distinct categories; small and midsize business (SMBs) and fortune 1000 companies. For the most part the SMBs are financed by small and regional banks, while the fortune 1000 companies are banked by large institutions and investment banks
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Financial Health – The Great Divide between SMBs and the Big Guys
The anxiety level is on the rise again for the nearly one million small and midsize businesses (SMBs) that rely on CIT for access to capital. Recent headlines detail the latest in the century old stalwart’s struggles to avoid bankruptcy including a second restructuring. Meanwhile, CEO Jeffery Peek has announced his resignation at year end
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Small and Midsize Businesses at Risk as Fate of CIT Remains Unknown
As I noted in my previous blog, I’m having that strange quiet feeling you get before a storm. There are a number of reasons to be cautious in this environment, not the least of which is the increasing number of people who are excited about the market climbing a “wall of worry”. But let’s get granular here.
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Credit Crisis- The Aftershock of Commercial Real Estate
During tough economic times, even the mightiest of them fall and especially in oil and gas industry we have seen that happening when crude plummeted to $32 after hitting a record of $147 a barrel at a point of time Though prices are now hovering around the $70 per barrel range, there would be tremendous pressure on the majors to go slow on production and this would have a direct impact on the service companies. In this blog, we are trying to analyze how the macroeconomics trickles down to a microeconomic level – we would be focusing on oil field services companies and how recession forces these companies to revisit some of their processes – Warranty for example and how an ERP solution ( Oracle EBS in this case) can be leveraged to achieve business objectives
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When the going gets tough, the smooth gets going!
We have come a long way since the total paralysis last fall and capital has been steadily creeping back into various asset classes. Typically, capital will flow to markets where investors have confidence in asset quality and where there is an active environment for trading and obtaining liquidity.
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Two Factors Needed for Small, Midsize Business Financing to Increase
In the past 18 months, the world economy has fallen and lifted. This has arguably been a ‘good thing’ for shared services. Especially Accounts Payable. 1/ The significant emphasis on cost control during this period, in order to protect margins, has made shared services an even more valuable corporate asset today than it was during our stronger times. Shared services is now seen in a new light, where appreciation has a place, and internal customers and stakeholders regard shared services as a ‘survival enabler’ rather than a ‘pain’
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4 Ways in Which the Recession has Impacted Accounts Payable
Kofax Transformation Module is one very powerful product once you learn some of its secrets. In this installment I plan to show you two of KTM’s abilities to modify the out of the box functions, Validation Design and Scripting. Screenshot The scripting language and class object models of KTM allow you to modify how Extraction works and also how Validation works. In the case of extraction, out of the box KTM does not recognize negative amounts as in the case of a Credit Memo. In order to allow KTM to recognize negative amounts requires the use of a script function. This script is listed in the HELP documentation and is simple to add. It performs the original function of validating that what was extracted from the invoice is indeed an amount and it also validates the amount if the negative sign is present. Another example is during extraction, an amount is not considered valid if it consists of just a decimal point followed by 2 digits, such as “.75”. A lot of invoices are printed in just such a fashion if the amounts are only cents and no dollars are involved. A script of only one or two lines of code is then used to force KTM to recognize the value by adding a zero in front of the decimal point to form the amount of “0.75”. In this manner scripts can be used to add additional validation of the extracted values and to modify the extracted values if necessary. This also applies to field values that are not extracted as we will see in the discussion of Validation
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Kofax KTM is a Powerhouse Product