06.12.07

How to extract the REAL VALUE of Accountants in an Organization

Posted in Business System, Financial Management at 8:50 am by Ver

———————–

It is quite surprising why a lot of organizations still think that the accounting process is accomplished by writing entries through journals (books) that the size of a news paper, calculating the totals and sub-totals per month, and posting it again to other set of books.

Companies with this kind of accounting process are exposed to errors, penalties, and worse, bad decisions because of delayed, incomplete, or inaccurate financial data.

The role that accountants are more effective is in analyzing and advising the management on how business transpired in a given period and on how business can further be improved through prudent financial management.

This critical role of accountants can only be realized in an organization if the accounting group is equipped with accounting tools and systems that will automate the tedious process of recording, summarizing, and reporting process. 

However, a lot of companies are still reluctant to introduce systems in their accounting department because of reasons that normally boils down to the following key reasons: 1) lack of understanding on which specific accounting tasks to automate; 2) whether the accounting system will fit the company’s process requirement; and 3) unavailability of personnel who will champion the implementation, training, and maintenance of the accounting system.

So how can companies go around the above apprehensions?  The general answer:

>> Ask the accounting team which process creates a lot of bottleneck and complications;

>> Read reviews and request for demos on accounting systems that have modules that cover the processes that was identified by your accounting team as a bottleneck

>> Get the accounting system from a vendor that has a good set of support and training team that will help your accounting group in the transition to the new system

So go ahead and evaluate your accounting department. If you see stacks of papers and several accounting “books” floating around your accounting area, then chances are you are running an inefficient and ineffective accounting organization.

But what about system costs? If you are still unsure whether you would like to invest in a system, look for vendors or providers that offer subscription-based arrangements.  This will eliminate the hurdle on huge investment costs.  Furthermore, with this kind of arrangement, your team can first “try out” the system before you actually make the investment on the said program.
__________________________


06.08.07

Putting Techonology in the HR and Payroll Function

Posted in Business System, HR Matters at 2:58 am by Ver

——————— 

On a regular basis, I would be presenting our web-based Human Resource Information System and Payroll Management System to senior executive of our prospected clients. More often that not I would get the same amazement and excitement from these executives right after each presentations. The reason for this reaction is that fact that they have not been exposed to the significant progress achieved by a lot of companies in the use of technology in the HR and Payroll management process.

Right now, HR and Payroll systems are automating processes from recruitment, organizational management, personnel management, and up to the payroll processing and benefits management.

 

An organization that would have around 500 employees, can afford to have an HR department consisting of 2 employees because majority of the processes are automated and are distributed among the departments through the department managers through the use of tools like HR Management Dashboard. Attendance and payroll management are fully automated and can take only 30 minutes to process at any given time. 

 

The critical ingredient to achieve this level of productivity is in the use of the right system, the choice of the right provider, and more importantly, the assignment of right personnel who will use the system effectively.

__________

03.14.07

Greetings, Prime Readers!

Posted in General at 11:08 am by Prime Admin

Prime Outsource Corp.Welcome to Prime Outsource’s Community Forum!

Let’s share ideas in business and make this a venue for meaningful discussion on relevant business topics, trends, and technolgies. 

There are such a great amount of information that, if presented in a less formal media, can be picked up and used as a tool in making a lot of business successful. 

We enjoin you in making this page the area where such information can be presented and shared.