IT Best Practices for Financial Managers

Preface

One of the most important aspects of a financial executive's job is helping to ensure that financially related systems are implemented on time and on budget and that the systems are secure and reliable. Additionally, the financial executive needs to be aware of other key system-related topics, including the systems planning and software selection processes, ways to effectively implement systems using a well-established methodology, ways shared service centers can enhance the investments in systems, the impact of International Financial Reporting Standards (IFRS) on systems projects, trends related to e-commerce and software as a service (SaaS), and the impact mergers, acquisitions, and divestitures can have on the finance area.

There has been a tremendous amount of change in the systems world over the past several years. As a result, it is very hard to stay abreast of the latest system trends and best practices^[1] for finance. This book is focused on providing the financial executive with an understanding of some of the most important system-related areas that can impact the finance function. It also contains best practices for selecting, implementing, and maintaining systems.

The book is divided into three parts:

• Part I: The Basics (Chapters 1 through 6). Many organizations fail to effectively implement and manage their financial systems. This part includes a detailed discussion of the strategic systems planning and software selection process and the best practices associated ...