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How Finance Can Prepare for the New Economy

How Finance Can Prepare for the New Economy

As a finance leader, you have to master the art of managing the unexpected. Constant change is driving a new wave of requirements and regulations that will become a “must-have” for any business. SAP is there for you, transforming its solution suites to cloud-native technology, helping you moving along the winding path of finance transformation. With SAP solutions for finance, you can reduce cost, increase adoption and acceptance of your software, and add new apps and capabilities more easily than ever before. 

As economic realities grow more uncertain and unstable, finance executives are stepping into high-profile roles that go beyond cash-flow management, resource allocation, and risk assessment and mitigation. Now, they’re also managing processes and investments (including digital technologies) that contribute to high-quality experiences for customers and employees.

This same reality is echoed in research from Oxford Economics. However, surveyed finance leaders indicated that two critical obstacles could keep them from being successful:

  • Lack of coordination between different departments
  • Inability to gain insights from data

Find out how your finance organization can overcome these barriers by reading the Oxford Economics report, “The Great Connector: The Finance Function’s Role in Preparing Small and Midsize Organizations for the Next Economy.” The report uncovers valuable insights into challenges, goals, and best practices that can put your midsize business on the right track toward long-term continuity.

“FDA regulatory standards require traceability, which includes not only the components and finished goods, but the ability to audit the entire process from cradle to grave. SAP Business One facilitates all of this, giving us the visibility we need to achieve our rigorous QA standards and meet all FDA guidelines.”

– Justin Ku, Administration & Operations Coordinator, Swabplus

More on the Success Story of SWABPLUS

What Our Customers Say

Bruce Goldsmith, Family Owner, Baronet Coffee

Bruce Goldsmith, Family Owner

“Anyone you tell that you’re going to a new ERP system, they all give you that ‘pained look.’ To think that we’re on a year from when we did discovery to now three months into our live implementation, and all we’re working on is some fine-tuning. Some of these fine-tuning tasks are those little things that make our life so much easier, but this wasn’t what I expected when we went live because people told me so many horror stories. I was thankful for the effort on both Softengine and Baronet teams.”

Denise Ost, Chief Operating Officer, Goodwill Industries, San Joaquin Valley

The good news is that SAP Business One’s Sales Analysis capabilities enabled us to evaluate the results of that campaign and then make adjustments for future promotions. Specifically, we can check the number of transactions, discount levels and net gain or loss per promotion and per location. We have to be very careful with how we spend our precious marketing dollars and the new system gives us the tools to optimize our investment in that area.

Jason Dugan, CFO, Trudeau Distributing Company

Softengine has been a key contributor to our rollout of SAP Business One. The company’s consultants were excellent and helped ensure that we had a successful implementation.

Leonard Kang, Operations Manager, Christopher Lena

We decided to find a partner we could put our trust in. Softengine is very experienced and systemized in its approach. We were very confident we’d made the right choice. Small businesses might be intimidated by SAP software. What they don’t realize is that SAP offers solutions designed specifically for small to midsize companies like ours.

Ray Lacorte, VP of Operations, Choice Organic Teas

We feel like we are in great hands with Softengine and the SAP Business One system they installed. It’s nice to finally put all those unreliable ERP systems and redundant procedures in the rear-view mirror.

Justin Ku, Administration & Operations Coordinator, Swabplus

The Softengine team was able to tailor SAP Business One to deliver all the traceability Swabplus needed, including all the applicable reports. Softengine enhanced the core system to enable creation of new batch numbers if components don’t already have them and the option of batch-costing. They also added fields for escalation dates, expiration dates and additional inspection data (e.g., who inspected and when), which could be incorporated into each Certificate of Analysis.

Virginia J. Gregorian, COO, Turbo Wholesale Tires

Our experience with Softengine has been extremely positive. Any time we call for assistance, they always assign someone who’s highly professional and gets the job done quickly. Interestingly enough, I’ve become so much more educated about IT-related matters since working with the Softengine team on this project. Every time we need to upgrade the system, they walk me though all the steps to make sure that I completely understand what’s happening, which contributes to the overall success of the upgrade. It’s been a pleasure to work with them.