When it comes to financial services and accounting process controls in recent years are becoming ever more stringent in terms of individuals, small companies and large cooperates. In wake of the Sarbanes Oxley Act the focus on stronger internal and external controls has grown and the quest for finding new ways to tighten security and streamline processes sped up. One of the areas that has been highlighted is the need for stricter procure to pay (P2P) processes.

P2P is a general term used to cover the whole cycle of the payments of goods and services either from a business to customer or business to business point of view. P2P software makes the entire P2P process more secure and streamlined which has positive effects on any business. The results of ensuring you have the correct accounting software including P2P software will be prominent in terms of cost saving, automation of processes and most importantly security.

In order to cut cost it is sometimes necessary to spend money in order to save money, accounting software is a fantastic example of this as the majority of companies could benefit from reviewing and updating their software options. As a business grows their needs grow with them and within a large company it can often be harder to enforce security than in a small company. Being able to track in depth in goings and outgoings in specific areas of your business will allow you to monitor, target and focus on areas requiring attention to better improve your position.

iSoft Business Solutions offer Integra procure to Pay eProcurement software with different models available to suit your specific business needs, you can get ahead of the competition by employing eProcurement software. iSoft are software experts and can also create bespoke packages for your company to ensure you really do get everything you want from your accounting software or eProcurement programme.

Take a look at the full range of eProcurement software and bespoke solutions available form iSoft Business Solutions or contactan iSoft software expert for more information.

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While online accounting has taken a global shape, business organizations and corporate houses have stepped up online safety measures to avoid any unfavorable situation pertaining to data transaction. In fact, without assured safety, client satisfaction is incomplete. Therefore, the financial accounting software providers have installed state-of-art facilities for the safe online dealings.

Why is online safety required?

Online accounting has given a new edge to business accounting and networked-finance. QuickBooks, Great Plains, MAS90/2000 are some of the most popular softwares that are being used by different organizations.

However, the best part of using online accounting software is its easy accessibility, which is particularly helpful for companies that have multiple branches across the world. Moreover, it neither requires huge investments for hiring an accounting team nor does it involve the IT hassles that are required for upgrading the software, creating backup files or networking users to the system. The Application Service Providers or the ASPs are the ones who upgrade and maintain it from time to time.

While being able to access your online account anywhere and everywhere with a login ID seems to be really convenient, it has its own loopholes. The electronically encrypted data can be interspersed midway and data hacked; precisely why enhancing the security system is necessary. Some of the companies that provide the best security systems include:

Intuit
Intacct
NetSuite
QuickBooks
Peachtree
Quicken

Measures for a secure online accounting work

There are a number of things that the ASPs have to keep in mind while securing a line. Client accessibility and user-friendly applications cannot be compromised with at any point of time.

A Grade Firewall protection against data hacking: This can also help in keeping a tab on potential threats. Moreover, 24X7 monitoring enables immediate notification about an intrusion.
Data backup: This feature enables you to retrieve the original document even if the data is hit by a spam or a virus. The remote backup facility that stores relevant data is an effective protection against data loss.
Enhancement of security patches: Online screening whenever possible can immediately detect virus and unwanted intrusions. Similarly antivirus updates also form an important factor.

AccountsIQ is a pioneer in safe consolidated accounting and is known for its upbeat online security. Some of the unique security features that it uses include biometric scanning, CCTV coverage for internal security and automatic alarm systems.

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While discrete manufacturing systems are generally designed around a bill of material containing whole, or discrete quantities of materials (such as 1 axle, 2 tires), process manufacturing systems are driven by formulas (such as 90% water, 10% flavoring.) Process manufacturers usually blend or mix materials rather than cutting, shaping, or assembling hard goods. Hybrid manufacturers combine process and discrete components. A good example would be a cosmetic company that mixes a batch of lip stick bulk and fills the bulk into a base container (process manufacturing), then assembles this into a finished product with a packaging and label bill of material (discrete manufacturing).

Like the Colonel’s secret recipe, proprietary data is managed through an ERP (enterprise resource planning) system which must be guarded from malicious data tampering. As with regulations, like Sarbanes-Oxley, companies are held accountable for the data that is produced from their ERP system; few have the necessary tools to ensure that the data is managed appropriately by the authorized personnel (although most make claims to the contrary.)

According to Evan Garber, President of Escape Velocity Systems (www.evs-sw.com), which specializes in formula-based process manufacturing, “Advanced auditing and security functionality is not simply preventing unauthorized data manipulation…risk management, it provides a context for a data management plan that includes process improvement.”

Advanced Auditing and Security Drives Continued Process Improvement

Some of the features that technology solutions must provide, particularly among process manufacturers include:

• User accountability for one’s actions

• Managing ancillary attached data (such as Excel or Word attachments) through an approval, lockdown, and version control process

• Managing efficiency of electronic document handling

The term escape velocity refers to the speed that is necessary for an object to overcome gravity and soar into space. EVS provides direct applications for businesses looking for a catalyst, not just a software package. Process manufacturers require the best software solution coupled with industry experience that will accelerate the velocity with which they race towards their goals. The gravity of status-quo opposes aggressive, cutting edge organizations as they strive towards high quality and short lead time delivery while reducing inventories and operating costs.

The entire article may be read at http://www.accountingsoftware411.com/Press/PressDocView.aspx?docid=9402.