Global organizations faced with growth, competition or restructuring challenges often turn to finance and accounting transformation to help them focus on core business issues, reduce costs or improve controls. However, it’s not unusual for such initiatives to be thwarted by rigid or inflexible ERP systems not suitable for smaller markets or rapid reaction to changing market conditions.
This is something I’ve often seen in my BPO career, especially in geographies like Latin America where the investments or focus needed to deploy technology are offset by the market size or economic instability.
But this is not a dead end. There are ways of overcoming this scenario to address ERP functional limitations or even replace your ERP with a light, low effort “as-a-stack” solution.
“Finance-as-a-Stack” is an increasingly popular approach as it provides a standard ERP configuration using tools such as Capgemini’s Global Enterprise Model (GEM) and also covers the application rollout and infrastructure support. This is ideal for smaller markets where there is no room for a big ERP rollout but require full ERP functionality to replace their legacy solutions.
But we also know that in some cases companies cannot simply write off previous technology investments or compromise on partial implementations covering basic functionalities. For such situations there is the possibility of adding a set of “add on” tools that help deliver the process functionality needed while interacting with the existing ERP.
These tools easily interface with the existing ERP environment and will help streamline the F&A functions, improve controls and enable BPO-driven savings through productivity enhancements and service delivery location.
So for any CFOs having doubts on the feasibility of addressing their ERP shortcomings while transforming their finance operations, rest assured that there are proven solutions to bridge the technology gaps.