Small and midsize companies often try and make do with finance systems they have outgrown, or which operate in isolation from other core business systems.

Thomas Chippendale, the 18th century English cabinet and chair maker whose marketing expertise and reputation brought a lot of upper-class clients to the door of his London studio. His furniture designs were so advanced and so stylish that they are still in use today.

But in his quest for quality workmanship and client satisfaction, he overlooked the need for solid financial management and couldn’t make the business profitable.

It is true that the best products and the best marketing in the world are of no use if the financial side of the business is not properly managed. Many of today's small and midsize businesses face the same age-old difficulties of controlling cashflow, justifying capital expenditure, balancing quality and costs, and predicting market demand.

These activities are hard enough in times of stability, but in more uncertain periods the ability to put forth firm financial control over all aspects of their business becomes critical. A company needs to get better financial control of its business, not only in operational terms but also in the quality and quantity of financial information that could be made available to make strategic decisions.

The solution to this problem is to consolidate all of its operational and management information systems into one suite of integrated enterprise resource planning (ERP) applications. The Oracle E-Business Suite Special Edition, which offers a set of integrated modules for financial and logistics management, together with sophisticated business intelligence functionality can provide up-to-date and accurate management reports.

A common problem in small and midsize companies is that financial systems can quickly become outdated. In most companies, the financial accounting application is the first system to be installed, so it is usually the one that goes out of date first. It needs a comprehensive system that could automate processes between business areas and provide meaningful and up to date management information.

This problem was also solved by incorporating Oracle Process Manufacturing into the Special Edition suite that will take the company to the next phase of its growth and expansion into neighboring countries.

http://www.ameinfo.com/43629.html