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Electronic data interchange (EDI) involves the computerized flow of information between organizations. Companies that already have an EDI program for purchasing will find it quite easy to install a financial EDI. The basic tools they will need are a computer and a modem, and software for sharing information between trading partners, integrating data into current computer applications and translating among EDI message standards. Companies will also need trading partners, mostly their customers and suppliers; banks, for electronic fund transfers; EDI documents and formats; and EDI value-added network services. Finally, they must have a strategic plan that will guide their shift into a new way of doing business. With financial EDI, payees can enjoy numerous benefits, including improved cash management and forecasting, better customer relations and enhanced staff morale. Payors also gain through improved control of funds and reduced costs of verifying payments., Electronic data interchange is most simply defined as the flow of business information between organizations without human intervention. But such a definition is of little help to the treasury manager [...]

The competitive pressure that has sparked the downsizing of the legal profession is prompting many law firms to look to technology to improve efficiency, cash flow and profitability. In many [...]

Many corporate financial managers have been centralizing and automating key functions in the wake of the financial crisis. E-invoicing is seen to save businesses millions if used to automate manual, paper-based processes. However, only two to ten percent of total invoices are transmitted electronically.

Treasury modules offered within an enterprise resource planning system adversely impact businesses' treasury management systems. Not all businesses require all the functionalities of treasury modules. Comments from executives are also provided.

The widening range of functionality of electronic data interchanges (EDIs) in the financial and non-financial aspects of a business make it imperative for treasury managers to take an active part in company EDI teams. This move will safeguard against the treasury managers' corporate isolation and serve as an opportunity for them to contribute to the development and implementation of EDIs within the organizational structure. The value of the treasury manager's participation as members in their companies' EDI teams is most clearly seen in the tremendous applications of EDI to non-financial areas of which the treasury manager has very little or no involvement at all. The treasury managers' involvement with their companies' EDI team makes it important that they be EDI-literate as well as self-sufficient in the basic computer skills. The ability to negotiate will also be useful to the treasury manager., One of the biggest technology issues facing today's corporate treasury managers is electronic data interchange (EDI). EDI is changing the way companies do business with each other, shifting the ordering [...]

1 MAKE A TRADE Swap goods and services on Barter quest.com, a site that brings together similarly thrifty people with different haves and wants. The vast array of deals ranges [...]

THERE HAS NEVER BEEN A BETTER TIME TO BECOME more financially aware and responsible. Fortunately, for those too terrified to look at retirement accounts, a group of chatty (and free) [...]

The investment managers of the 1990s have come to rely on computerized information systems (IS) for decision making purposes. The increased efficiency, flexibility, support and speed offered by automated IS can enhance the competitiveness of fund managers. The incorporation of information technology (IT) in the finacial services sector has modernized transaction methods, provided portfolio projections and valuations current to the minute, and permitted the input of daily transactions as required by regulators. However, problems exist that prevent the integration of IS and IT for full application in the investment management environment, affecting current systems response times and down-times. A redevelopment of existing IS is essential to maintaining competitiveness in business.

USING THE WEB to manage your money used to mean logging into a plethora of banks and other institutions to check balances and maybe pay bills. Now various next-generation Web […]

Some social networking sites have financial themes and offer tools to help users manage financial and investment account. These social networks include Geezo.com, which features online connections with banks and money professionals, and Myvesta.org, which specializes on users with debt concerns. Other social networks with financial tools are presented.

Oracle Corp. has integrated its Oracle Transportation Management into its JD Edwards EnterpriseOne sales order management, procurement and financial management applications with the intent or delivering a complete fulfillment execution […]

The lateness of fiscal year 2008 Global War on Terrorism funding has given comptrollers across the Army a huge challenge--how to sustain Army operations in the face of inadequate resources. [...]

S & W, the Alabama powersports dealership involved in a year-long effort to modernize its business, is not unlike other powersports dealerships in how it handles F & I opportunitiess. [...]

With public trust at stake and compliance requirements on the rise worldwide, financial and management reporting practices are changing in a hurry. U.K.-based public companies this year face far more […]

Managers in the Health and Human Services Department complain that their financial systems are 'held together with duct tape and baling wire,' a department executive said, but they'll have to […]

Improving financial management takes much more than technology, as the Transportation Department can attest. The department installed a new financial management system last year but still got an unsatisfactory rating […]

In November of 1978, I became a finance guy when I graduated from the FM schoolhouse at Sheppard AFB, Texas. As I think back on how things were then and [...]

Hospitals continue to be faced with rising costs, declining reimbursement, and limited resources. Aggressive planning and ongoing cost management are critical to survival in today's health care environment. Additionally, hospitals [...]

Companies that have automated some or all of their asset management operations achieve such benefits as improved asset utilization and performance, improved budgeting and planning procedures, and improved overall profitability, [...]

At Grampian Fire Brigade we have recently invested in a new financial management system that will meet our diverse needs and help us incorporate the Scottish Executives' E-Government agenda. The [...]

Markus Alsleben, PSO, SAP China Asian companies are quickly grasping the masive importance of information technology. Director of PSO, SAP China, Markus Alsleben, said: 'I wouldn't call it a chain [...]

AN EMPLOYEE of a health care company in the South was inspired enough to write an e-mail in response to my last column introducing economic value added (EVA) as a […]