financial, 2005

Command your financial value chain in 2005

13 Jan 2005 | (News)

Aceva Technologies names top trends for 2005 -highlighting growth and continued momentum through adoption of revenue and receivables management solutions.

Aceva Technologies, Inc., a leading provider of enterprise software applications for revenue and receivables management, looks ahead to 2005 as the year where such corporate trends as Six Sigma and outsourcing accelerate their impact on corporate finance and accounting departments and this year’s heavy focus on Sarbanes Oxley moves into a new phase for compliance initiatives.

Looking ahead to 2005, Aceva sees the following trends as key issues:

•No Open Heart Surgery: CFOs are looking for revenue and receivables management solution providers that can come in and deliver focused solutions for tough problems, generate ROI upwards of 10x and get in and out within 60 days. They want a high return with low investment in resources, time and money. It will be imperative that organizations embrace technology solutions that integrate rapidly into the enterprise, are readily usable and intuitive, and provide robust analytical capabilities that can improve the business processes supporting the quote-to-cash cycle.

•Six Sigma & Process Improvements: 2005 will be the year where Six Sigma will become a standard of measure of quality and efficiency within Finance and Accounting (F&A) departments. Best practices focusing on Six Sigma have moved out of the manufacturing function into optimizing other parts of the organization, and the opportunities around Quote to Cash are substantial.

•Outsourcing and Desegregation of the Financial Value Chain: CFOs are looking to bring down the average cost per order dollar for the finance operation. To achieve this, investments in outsourcing F&A will see a significant upswing. This move will need to be balanced by the provisioning and adoption of new complimentary technologies to close the critical gap between the cost benefits of outsourcing and the visibility and control that’s necessary for business fundamentals.

• SOX IN 2005: Spurred by ongoing Sarbanes Oxley initiatives, the corporate world will move from the auditing and process documentation work of this year into rigorous and real-time management of control points. This will involve the implementation of real-time monitoring technology that will track on-going transaction and finance data, and proactive alert on exceptions.

According to Sanjay Srivastava, Chief Operating Officer at Aceva, “As we turn the corner on the economy, companies are seeking innovative ways to leverage technology to achieve long-term business process improvements and thereby reduce their cost of operations. We look forward to seeing further momentum in 2005, as organizations continue to focus on revenue and receivables as a key area to optimize financial performance and improve operational excellence.”

Aceva Technologies is a leading provider of enterprise application software solutions for revenue and receivables management. Aceva's solutions for order quality, dispute prevention, inventory transaction reconciliation, deductions management, collections management, and cash forecasting directly address quote-to-cash process breakdowns, quality issues, and automation requirements. Aceva's products deliver end-to-end revenue and receivables visibility, continuous business policy monitoring, collections process automation and workflow, as well as comprehensive reporting and analytics. As a result, customers are able to optimize financial performance and working capital, improve operational excellence and customer satisfaction, and comply with internal controls and regulatory requirements.

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