Accounting and Financial Solutions:
No Rest for the Weary?
By Jennifer C. Dunleavy

The summer has been very active for many of our customers. I have recently had conversations with finance and accounting executives regarding Sarbanes Oxley compliance, ERP implementations and the crunch to get it all done under budget and before the deadlines. I am pleased to report that many of you are finding success in achieving the nearly impossible. Since you have been burning the midnight oil (certainly, working after sunset during summer qualifies), we thought it might be refreshing to receive some light reading. Therefore, we dedicate this issue of Accuro Insight to you.

A few years ago, I met Lea Strickland, a highly talented financial professional. At that time, Lea was the Controller at a manufacturing corporation, was quick on her feet and ready to conquer the world. Nearly 5 years later, we crossed paths again. I was delighted to discover that Lea is now a successful business owner, and exhibits the same energy and passion for business as before. Lea was gracious to contribute a timely article, "Selecting an Enterprise Resource Planning (ERP) System: Goals, Software, and Results." For those of you who anticipate an upgrade in the future, you will certainly appreciate this hassle-free approach to the selection process.

For those of you who are currently implementing an ERP system, please also note the section, "Take a Mental Break." Then, feel free to turn off your lamp, bid a "good night" to the janitor, and enjoy yourself.

Jennifer C. Dunleavy is President of The Accuro Group Inc. located in Cary, North Carolina. The Accuro Group is a nationally certified Women's Business Enterprise and specializes in offering talented professionals through staff augmentation services, permanent placement and executive consulting engagements.

Selecting an Enterprise Resource Planning (ERP) System: Goals, Software, and Results
By Lea Strickland, CMA CFM CBM

As organizations grow and expand operations, the need for strong data collection and reporting tools increases. Businesses usually begin operations with tools – accounting and others – which aren’t comprehensive enough. They are not adequate to span the operational aspects of the business and support controls and functionally needed as complexity increases through sales, operations, manufacturing or other growth activities.

Business processes often reach a critical point as an organization reaches the $2 to $7 million revenue range and again at revenue levels of $50 to $100 million. The processes, systems, and tools that worked to get the organization to those levels aren't the same as the one's needed to take the business to its next level. The tools and systems that the business could "afford" in the initial launch of business aren't equipping the business to increase capacity, complexity, and maintain or improve customer service, delivery, and speed of response. Further, the system that is affordable at the $2 - $7 million levels may not be the one the organization will later need when it reaches $50 - $100 million.

Customarily the selection of an enterprise resource planning system includes five criteria categories:

• the level of system integration
• the technical architecture of the system (need for add-on’s or third party software)
• the vendor
• the vendor’s experience in the client industry, and
• the costs – acquisition, implementation, and maintenance

The first step in the process of selecting a new system is to identify the goal of designing, selecting, implementing and maintaining an ERP system. Some of the possible reasons may include these:

• improved efficiency of data collection
• improved reporting
• increased functionality, and
• increased coordination and organizational alignment.

The second step is to identify key operational, functional, and control aspects of the business that need to be addressed. Here are some of the questions that the organization needs to answer:

• What processes are going to be automated?
• What activities need to be changed or updated?
• What functional areas are to be included?
• What current manual processes will be converted or added?
• What types of production does the business engage in – discrete, project, batch, continuous, etc.?
• What costing method(s) does the business use?
• What type(s) of inventory does the business maintain?
• Does the business need to track fixed assets and depreciation?
• Does the business have intangible assets and amortization?
• How complex are the bills of material?
• How many characters are wanted from chart of accounts, part numbers, etc.?
• Does the business intend to do payroll and other human resource functions?
• Does the business operate in multiple countries?
• Does the business transact in different currencies?
• Does the business require project accounting?
• Does the business have grants?
• Is the business for profit or not-for-profit?
• Are there multiple companies, divisions or operations?
• Are there cost, profit or revenue centers?
• Is the business publicly traded?
• Are there import/export activities?
• How many users?
• What is the price range?
• Is the solution scalable?

Each business also has specialized needs and internal requirements that have to be analyzed and planned for. Those needs and requirements may relate to industry regulations; federal, state, or other municipality requirements; specialized accounting; and so on.

The third step is to get beyond the current needs assessment and assess the future needs of the organization. These prospective needs can be categorized, estimated, and documented along the lines of users, operations, and processes that may be added, sold, or otherwise changed.

The fourth step is to evaluate the multitude of options at the basic level of functionality. One of the simplest ways to begin evaluating and comparing the functionality and tools that the business needs against the multitude of ERP systems available is to create a spreadsheet with the functional needs across the columns and the packages down the rows. Then where the packages have the function simply put an “X” in the cell. The most critical functional needs can be high-lighted; the “nice to haves” another color, the “wish list” items still another. A visual review can then be done to determine which alternatives to review in-depth.

Step five of the process takes the most likely candidates identified and moves to setting up internet-based or other demonstrations of functionality on the most common elements. Through this process, additional packages will be eliminated. In step six the business establishes specific criteria to be satisfied, answered, or identified as “customized” functionality to be included in an on-site presentation. The on-site visits by resellers provide the company and the vendor the opportunity to demonstrate via a customized presentation and other inquiry processes what the product and vendor team can do. The catch is to make sure they use the real system and its functionality.

When the alternatives are narrowed down to two or three, then it is time to evaluate the vendors (step seven). The software vendor – OEM, reseller, and consulting team – are as critical if not more critical than the software functionality. In choosing between multiple alternatives, part of the decision equation has to be the reliability, experience, and expertise of the team that will be facilitating the implementation, training and maintenance of the system. If the system being selected requires third-party add-ons, then the experience of the software vendor and consultants with the third party software and any interfaces between the software.

Step eight is to make the decision. This decision needs to be made by a qualified, experienced team that can review all aspects of the decision. The decision encompasses the cost, functionality, vendor, and all of the other criteria and expectations of the organization. The organization needs to make a decision that balances all of the criteria and gives them the best result under the existing constraints and future needs of the organization.

This isn’t a $99 decision. It is a long-term commitment to a product, to a process, to a team, and to a vendor relationship. Choose wisely.

As President and Principal Consultant of F.O.C.U.S. Resources, Lea Strickland brings over 15 years of practical, hands-on experience in service and manufacturing organizations from both financial controllership/CFO and operational leadership positions. Lea’s experience includes leading initiatives at Ford Motor Company, GKN Automotive, Inc., Solectron, Inc., and others. Lea’s expertise includes a broad spectrum of financial, operational and strategic activities, including Activity Based Cost Management, Enterprise Resource Planning Systems, Compliance and government projects, Taxation Issues, Corporate Funding, Facility Expansions, Retail and Institutional Equity Funding. Lea is a Certified Management Accountant, Certified Financial Manager, Certified Business Manger has a B.S. Operations Management and Finance and an MBA from Ohio State University.

Lea Strickland may be contacted at lea@focusresourcesinc.com or via www.focusresourcesinc.com.

Spotlight on Superior Talent:
Searching for an employee, contractor or executive consultant? Contact us at 919-851-9880 or info@theaccurogroup.com for additional information or availability.

Executive Administrative Assistant
Executive assistant with 10 years corporate experience supporting executive management. Strong technical skills and meeting and trade show planning experience. Recently relocated to the Triangle area. Available immediately.

Junior Accountant
Recent graduate seeking an entry-level career opportunity with a stable company. BA degree with a concentration in finance. Offers solid general ledger and financial analysis experience through strong accounting internships. A superstar in the making!

Accounts Payable Specialist
High-volume A/P candidate seeking an opportunity with a first-rate company. Strong ERP experience in high-volume accounting departments at Fortune 500 companies. Excellent combination of speed, accuracy, and exceptional vendor/customer service skills.

Collections Specialist
Impressive corporate collections achievements with a Fortune 500 company. High-energy and a friendly personality make this candidate a very professional and effective collector. Bachelors degree and 4 years experience in corporate collections.

Senior Financial Analyst
Talented senior-level financial analyst with MBA and 8 years corporate finance experience. Results-driven problem solver who offers experience in establishing internal controls, processes, and records to support compliance with third party contracts, financial controls and reporting policies. Sarbanes-Oxley with JDE, Oracle, and SAP financials experience. Polished and comfortable in presenting financials to senior management.

Senior Financial Analyst – Tax
Accomplished financial tax analyst with experience in multi-state, foreign, indirect, tax audit management. Strong focus in process improvements, developing and tracking internal control procedures and Sarbanes Oxley documentation for Sales and Use Tax. Impressive background in reducing exposure and assessments at Fortune corporations.

JDE Implementation Specialist
Implementation testing expert with accounting & financial background. Expert knowledge in JD Edwards World and One World software, particularly in general ledger financials, journal entries, postings, company setup, multi-currency functionality and restatement and inter-company transactions. Strong training, technical support, troubleshooting and procedure writing experience served up with a positive attitude and can-do spirit!

IT/Web Project Manager
Senior-level IT and web project manager with MBA and 12 years in banking and financial services. Career highlights include redesigning and implementing over 400 global intranet sites for brokerage tracking, broadcasting automated news and video feeds, SEC regulated applications and various corporate sites, such as corporate communications, branding, marketing, advertising and diversity sites. Excellent longevity with current company, and is ready for new challenges.

Director – Human Resources
Human Resources executive with 10 years in HR leadership. Organizational development experience with corporations ranging from 200 – 1500 employees, from start-up stages to $50 billion level. Successful history in strategic planning, leadership principles, employee relations, compensation and benefits, recruitment and training initiatives.

Director – Healthcare Operations
Impressive senior-level manager with 15 years successful QA, risk analysis and customer service management experience in the healthcare industry. Career achievements include significant const control, budget reduction and process improvement. Strong employee development and cross-discipline management experience resulting in greater employee and customer retention. Highly driven to improve bottom-line performance.

Highly accomplished senior management executives also available. Direct confidential inquiries to executivesearch@theaccurogroup.com.

Focus On Your Professional Development
Take a look at these Upcoming Seminars and Networking Events!

Triangle Chapter CPE Breakfast
Presented by the NC Association of CPAs
August 10, 7:45 AM-12 noon, Holiday Inn, RTP
Offering 4 hours CPE credit
For information and registration, visit at www.ncacpa.org.

"Seven Common Mistakes That Can Rob Your Retirement"
Presented by Craige Summers, CFP with Edward Jones
Offered in conjunction with the Professional Women’s Network Summer Fling
August 12, Workshop 4:45 PM-5:30 PM
Professional Women’s Network Event 5:30 PM-7:30
Hill House in Durham
For information, contact Danielle Kaspar at 919-682-2133 or DanielleKaspar@durhamchamber.org.

"Tackling Time: Time Management Skills for Everyone"
Presented by Eileen Stevie, S.O.S.
August 16, 6:30 PM - 7:30 PM Cary Senior Center at Bond Park, Cary
Seminar is offered free of charge.
For information, contact Eileen Stevie at help@organizeclutter.com.

Triangle Chapter CPE Luncheon
Presented by the NC Association of CPAs
August 17, 11:30 AM-1:00 PM, Holiday Inn RTP
Offering 1 hour CPE credit.
For information and registration, visit at www.ncacpa.org.

"Executive Sales Management in a Competitive Market"
Presented by Dr. Gerd Neumann, CEO – GN Consulting. L.L.C.
August 17, 11:30 AM-1:00 PM, Capital City Club, Raleigh
For registration, contact Jennifer Dunleavy at 919-851-9880.

"The Magical Formula for Achieving Success"
Presented by Erika Mangrum, owner of Iatria Day Spa and Health Center, and Dr. Angela Baylis, head of Iatria Health Center.
Program is offered in conjunction with Trendsetters, Professional Women Leading the Way.
August 17, 6:00 PM-7:30 PM, Capital City Club, Raleigh
For registration, contact Jennifer Dunleavy at 919-851-9880.

CPE Beach Cluster at Wrightsville Beach
Presented by NC Association of CPAs
Two days offering up to 16 hours of CPE credit
August 19-20, Holiday Inn Sunspree Resort in Wrightsville Beach
For information and registration, visit at www.ncacpa.org.

"Smart Mindset for Success" Business Institute Seminar
Presented by Janis Pettit, Founder and President of SmarTrack
August 25, 8:30 AM-10:30 AM, Raleigh Chamber Headquarters
For information or registration, contact Mary Ann Foley at 919-664-7034 or
mfoley@the-chamber.org.

"Local Market Dominance"
Presented by Jeffrey Gitomer, author of The Sales Bible and Customer Satisfaction is Worthless, Customer Loyalty is Priceless
August 25, 7:30 AM–11:30 AM, Hyatt Regency, Greenville, SC
For information and registration, contact Emily Monday at 800-242-5388 or visit www.gitomer.com.

North Carolina Technology Fast 50 Awards
August 26, 11:30 AM-2:00 PM, Embassy Suites Hotel, Cary
For information, contact Ellen Wentz at ellenwentz@deloitte.com.

Business Showcase
Presented by the Carolina Hurricanes and Triangle Business Journal
September 1, 4:00 PM-7:00 PM, RBC Center
Register at www.raleighchamber.org.
For information, contact Sara Engelmann at 664-7036 or sengelmann@the-chamber.org.