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Tag >> IT
Sep 13
2011

Tech CFOs scaling back offshore outsourcing

Posted by Stephen Taub in R&D;outsourcingmanufacturingIT spendingITCash

Stephen Taub

Tech companies are souring on outsourcing.

According to a survey of 100 chief financial officers at technology companies by BDO USA, LLP, just 35 percent said they are currently outsourcing services or manufacturing to companies outside of the US. This represents a 43 percent decrease from the 2009 high when 62 percent of companies were outsourcing and a slight decline from 2010 (37 percent).

Oct 27
2010

Supply chain risks grow

Posted by dbedell in supply chain disruptionsupply chainRiskoutsourcingmanufacturingITCash

dbedell

Companies worldwide are struggling to come to grips with risks and disruptions in their supply chain, according to a survey by the Business Continuity Institute, which found that more than 70 percent of companies had a supply chain breakdown in the past year.

In addition, a significant piece of that disruption arose from outsourced IT and manufacturing processes – and the risk of supply chain disruption related to outsourcing is rising.

Oct 21
2010

A non-IT guide to search engine optimization (SEO)

Posted by dbedell in YahooTechnologySEOsearch engine optimizationITGoogle

dbedell

Many CFOs and other finance executives may feel that understanding such IT concepts as search engine optimization (SEO) are not in their remit.

However, particularly for smaller companies where job functions may be less-defined or input from senior management is desirable across the whole gamut of business functions, it makes sense to have a basic understanding of the importance of search engine optimization, and also to know how to implement it in any writing, posting, research, and so on that may end up online.

Oct 19
2010

Tech Tuesdays (October 19)

Posted by dbedell in web portalTechnologySAPpayrollNational Automated Clearing House AssociationNACHAIT2ITe-invoicingCashBaswareAssociation for Financial ProfessionalsAmerican Payroll AssociationAmerican ExpressAFPaccounts receivableaccounts payable

dbedell

Global subsea equipment manufacturing and service company DOF Subsea has selected IT2 to provide a centralized treasury management system for the enterprise. The company will make use of IT2’s solutions for cash forecasting; liquidity management; risk management and hedging programs for foreign exchange and interest rate exposures; debt management; and treasury accounting; among other things.

DOF Subsea will access the system through IT2 NET—the system provider’s web portal, and the solution will interface with the company’s counterparties and third-party solution providers—including Nordea Bank, Agresso—for accounting; the Shipnet solution for A/P and A/R management; and Reuters.

Oct 15
2010

Taking IT vendor selection to the next level

Posted by dbedell in vendor selectionTower GroupTechnologyRFPRFIrequest for proposalITfinancial technologyaccounting software

dbedell

The Tower Group just came out with a new research report looking at the IT vendor selection process for financial institutions and how they often do not put as thought into the selection process as they should. This applies not just to financial institutions, however.

Vendor selection for financial and accounting technology is a critical function that is usually overseen by the finance chief at any size company—from the smallest to the largest.

Oct 11
2010

IT risk management key to company safety

Posted by dbedell in TechnologyRiskIT

dbedell

IT risk management is a critical piece of the risk puzzle for companies of all shapes and sizes. As firms move to more complex tech solutions, they must not only be aware but also actively manage the risks inherent in their systems, software, and IT procedures.

This is true not just for medium and large companies, but also for smaller firms. At the end of the day it is the responsibility of the CFO or finance manager to know and understand all of the risks affecting the company, and this includes technological risks.

Jul 09
2010

Better data, not time reduction, main benefit of automation

Posted by dbedell in risk managementITcash managementbiztechautomationAssociation for Financial Professionals

dbedell

Companies are still looking to improve automation in financial processes, but their main goals are changing, according to a benchmarking survey conducted by the Association for Financial Professionals (AFP). The AFP survey found that companies are not seeing the reduction in man-hours that was once touted as a key benefit of automation. However, other objectives are being achieved.

Survey respondents said that automating functions often gave little or no reduction in hours spent by employees in managing that process. In fact, many functions took the same number of hours–or full-time equivalents (FTEs)–as manual management. For example, financial risk management, and managing debt and investments all required an equal amount of FTEs whether the process was manual or automated.

Jun 10
2010

Outsourcing trend in treasury management has its downside

Posted by dbedell in treasury management systemSLAservice level agreementoutsourcingITdatabiztechASP

dbedell

Given the time and resources needed to manage complex treasury and finance systems, companies are increasingly choosing to have outside vendors manage their treasury software systems. But outsourcing management of treasury or finance systems comes with a unique set of risks that vendors are often hesitant to share with clients.

In a survey last year, consultancy Aite Group found that 66 percent of new treasury management system purchases made by companies were for vendor-hosted systems--where the software vendor, or a third party, manages the software on an outsourced basis, rather than the company managing the software in-house.

Jan 12
2010

A turnaround in IT spending by banks?

Posted by annearf in TechnologyITBanksBanking

Information technology spending by U.S. banks tanked last year. But, 2010 will be a different story, at least in wholesale banking.

That, at least, is the assessment of a report from Boston-based consulting firm Celent . While the research still hedges its bets--"There is still plenty of uncertainty in the industry", it says--the findings point to the beginning of a turnaround this year.

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