BizTech Blog

In all my years in accounting, by far the most difficult part of the month end close was the consolidation of entity general ledgers into one group of financial statements. Consolidation in Financial Accounting may best be described as a“ financial reporting technique that helps a firm summarize all operating data under a single set of financial statements in accordance with industry standards, accounting principles and regulations.”

Having spent more than a decade focusing on improving Supply Chain, and a high percentage my energy was spent using quantitative information. KPI’s, Cubes, Dashboards, Briefing, Portals, , Data Marts and the list go on. The algorithms have not changes to much. Future projected turns was one recent change for me, but there has been a lot of renaming or repackaging of proven techniques. A colleague of mine decided to rename an old inventory analysis process or classification of Excess and Obsolete (E&O) to Slow Moving Obsolete Product (SLOP). It’s a bit more descriptive than E&O, and has a slight humorous tone.

Oracle Hyperion Planning: Simply the Best. By combining prepackaged software with business intelligence capabilities and proven best planning practices, next-generation enterprise planning solutions optimize business planning across the enterprise. With the right enterprise planning technology in place, you will be able to drive collaborative, integrated event-based planning at all levels of your organization and with all appropriate participants.

BizTech is proud to report that despite prolonged power outages throughout the region due to severe storm damage and flooding from hurricane sandy, our Managed Services clients experienced zero downtime.

There was a lot of buzz at Oracle OpenWorld this year about cloud computing and Fusion CRM. To recap, Oracle Fusion CRM is available today (and has been for a while) and many exciting new features are planned over the next few product iterations.

Oracle Hyperion Financial Management (HFM) is a comprehensive, Web-based application that delivers global financial consolidation, reporting and analysis in a single, highly scalable software solution.

HFM utilizes today's most advanced technology, yet is built to be owned and maintained by the enterprise's finance team.

As the responsibilities of Sales, Marketing, and Service departments grow to include monitoring what goes on in the social media space, the challenge of "how" intensifies, especially since human resource expenditures are constrained. As a result, the organization's approach to providing better customer service is evolving. One way companies are improving their listening skills is by building connectors into the social media space.

Enterprise Performance Management (EPM) is defined as a management field of Business Performance Management which considers the visibility of operations in a closed-loop model across all facets of the enterprise. There are several emerging domains in the EPM field which are being driven by corporate initiatives, academic research, and commercial approaches including: Strategy Formulation, Business Planning and Forecasting, Financial Management, and Supply Chain Effectiveness.

With continued mounting pressures to reduce healthcare costs, healthcare providers can leverage the lessons learned in the 90’s by the world’s leading manufacturing companies. This blog is the first in a series of blogs that will discuss how healthcare organizations can employ manufacturing best practices to reduce costs, increase efficiency and improve patient satisfaction. Given that this is a business intelligence blog, the focus will be on how existing data can be transformed into information to achieve the aforementioned healthcare objectives.

The first area of focus, the operating room, has several manufacturing parallels. Think of an operating room as a machine that is very expensive to operate and has a fixed amount of capacity that must be optimally used to maximize utilization. Downtime due to poor scheduling or delays in preceding processes impacts utilization, output and customer satisfaction.

Group Accounts ranges varies from client to client and that is the reason why the user is given the ability to enter their input defining the group accounts for accounting purpose in OBIA.

But there is a standard anyone has to follow for defining the group accounts. There are three csv’s that help you define the group accounts and those group accounts fall into either Balance Sheet or P&L: