News & Views

September 2008 from CAmagazine – “Believe it or not, we’re now in our 10th year for our annual CAmagazine software vendor survey. As always, we have added new functionality and new systems. This year we have 54 systems, 17 more than last year…”

2008 from TechRepublic – You can access TechRepublic’s “Finance/Accounting Solutions Comparison Guide for Small to Midsize Companies”

180 View – The guide contains information on Epicor, Exact, Infor, Lawson, Microsoft, NetSuite, Oracle-JD Edwards, Oracle-PeopleSoft, QAD, Sage and SAP. We think the guide is not nearly as comprehensive as the CAmagazine survey but it does include vendors that were not included in the CAmagazine survey.

August 27, 2008 from BusinessFinance – “Companies historically have dumped anything they needed to report on into the general ledger and added it to the chart of accounts. As a result, the G/L functioned as both a data warehouse and the financial book of record, a situation that ISA Consulting describes as “the fat G/L.”

180 View – The remedy according to the article is “I would want to take to my general ledger only the bare minimum necessary to do my filings — legal entity and natural account. I’m oversimplifying, because most organizations report by segment, but in essence that’s what you need.”

But today you can have your cake and eat it too. There are analysis codes, reporting structures and subledgers that can give you the reporting you need without a fat G/L.

August 4, 2008 from PC World – “The metrics organizations commonly use to determine whether an IT project is a success or a failure-whether the project is completed on time, on budget, and delivered the initial requirements-do more harm than good for IT departments, according to a new report from Forrester Research…

Project sponsors latch on to the initial estimates project managers propose for the schedule and cost of a project. And because project sponsors don’t understand project complexity and other factors influencing cost and timeline when requirements change, they may see the project as a failure if costs increased, even if the changes improved the value delivered to the business. Unfortunately, business executives’ lack of understanding about project management influences their perception of IT project success and failure.”

180 View – I (Michael Burns) have personal experience in project sponsors latching onto initial estimates but the problem is not with the business executives. The problem is with the project managers who have not set expectations or kept business executives up to speed. It’s true that requirements can change but most of this should be caught in the 1st phase of a project. The Project Manager should be estimating time and budget before the requirements are defined and firming them up once requirements are confirmed and implementers have agreed with the time and budget expectations. If requirements should change partly though a project, the Project Manager should get permission to proceed based on a business case.

September 2, 2008 from eWeek – “Google took the application development world by storm Sept. 2 with Chrome, a beta of the company’s new open source Web browser. But it’s more than just a gateway to Google’s search and other Web applications.

If Chrome, with its fresh takes on stability, speed, security, privacy and ease of use, proves superior to other Web browsers, including Microsoft Internet Explorer, Mozilla Firefox and Opera, the browser will be the equivalent of a nuclear warhead to use against Google’s chief opponent Microsoft.”

180 View – We think that most businesses are reluctant to implement new technology unless there is a compelling business case. Although there appears to be some advantages to Chrome, it will take a lot more web applications (like salesforce.com) for Chrome to win the browser war. Our understanding is that Google is not just after Internet Explorer but also Windows.

September 2008 from CAmagazine – “Deloitte recently conducted a survey of 21 senior IT executives in Canada’s financial services industry. The goal was to understand their biggest challenges, and what they are doing to overcome them.”

180 View – We did like the chart that was embedded in the article which showed how “Enhancements to help IT increase ROI”. Clear and detailed requirements was considered the most important followed by accurate calculation of benefits and value. We think that when it comes to IT projects the devil can be in the details, and that clear and detailed requirements are critical. The business case is also critical but it’s not something that should be done by IT. They will typically be biased and lack the expertise to do it right. Accountants/auditors should be preparing the business case.

August 11, 2008 from itWorldCanada – “Companies may be expecting too much from cloud computing, but other technologies such as video conferencing are starting to live up to their promises, according to a report from research firm Gartner Inc…

A technology that’s a bit closer to reality is that of TelePresence, according to the report…”

180 View – Click here to see TelePresence (Cisco’s video conferencing system). It may take a while before video conferencing is mainstream and affordable. We think that video conferencing has enormous potential not just for business but also for peace between nations as people get to know each other better.

August 18, 2008 from Newsfactor – “…The table-like Surface computer operates entirely through a 30- inch interactive screen, which works along the same lines as Apple’s iPhone. But the Surface also recognizes and interacts with objects such as iPods and digital cameras that it comes in contact with, allowing users to edit photos or play music on the spot. The display, which rotates, can also recognize multiple hands or fingers…”

180 View – Click here for a demonstration.

August 27, 2008 from PC World – “As a topic, time management is about as exciting as watching flies buzz around a no-pest strip. But would you be interested in learning about time management from someone with only months to live?

The time management expert in this case was Randy Pausch, a computer science professor at Carnegie Mellon who passed away on July 25 at age 47 from pancreatic cancer. Along with his now-famous “last lecture” about achieving your childhood dreams, Pausch also delivered a lively, inspiring speech on time management to the University of Virginia School of Engineering and Applied Science in November 2007. You can watch a video of the lecture or read the transcript.”

180 View – Randy was as funny as he was wise and inspiring. We recommend you watch at least one of his videos.

January 2008 from The McKinsey Quarterly – “Companies like to promote the idea that employees are their biggest source of competitive advantage. Yet the astonishing reality is that most of them are as unprepared for the challenge of finding, motivating, and retaining capable workers as they were a decade ago…”

180 View (written by Lawrence Young) – In this article, the authors talk about making talent management throughout the enterprise a strategic priority, and the fact that executives must constantly rethink the way their companies attract, motivate and retain employees. Unfortunately, this challenge is easier stated than met! A global survey conducted by McKinsey in 2006 revealed that business leaders ‘regarded finding talented people as likely to be the single most important managerial preoccupation for the rest of this decade’.

As I stated in the August, 2008 issue of 180 Systems’ News & Views, it never ceases to amaze me how much money companies invest in inventory, plant and equipment, and technology, yet how little they invest in human resource management, especially in the hiring process. From what I’ve observed in the field, those making hiring decisions often knowingly hire ‘B’ and ‘C’ players due to short-term constraints, such as lack of time and insufficient budget to name but a few.

Of course, not every hire will always be an ‘A’ player. That’s why, as this article points out, it is so important to pay appropriate attention to the ‘B’ and ‘C’ players in the company:
“Companies must therefore address the needs of talent at all levels of the organization. Unsung segments—frontline staff, technical specialists, even the indirect workforce, such as people who work for suppliers, contractors, and joint-venture partners—are often as critical to overall success as ‘A’ players. Experience suggests that an exclusive focus on top players can damage the morale of the rest of the organization and, as a result, overall performance.”

So, if you are truly committed to attracting, motivating and retaining the talent your company requires in order to operate with more control, less stress and greater efficiency, my advice to you is simple – STOP TALKING ABOUT IT AND START DOING IT!

Make sure that talent management is a strategic initiative that is embedded throughout the organization’s human resource practices, and then commit the energy and dollars to turn this cornerstone of the strategic plan into reality. I promise that everyone will come out a winner, and shareholders and employees alike will wish that you had done it sooner!