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SunSystems bundles budgeting & planning with exfm

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25th Dec 2005
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SunSystems this month threw down a challenge to bigger software houses with an "extended financial management" (exfm) suite that combines core accounting with integrated budgeting/planning and reporting functions, all available via the Web.

SunSystems product marketing director Nigel Rayner explained that the exfm suite combined existing SunSystems modules with new elements to deliver performance management and business intelligence tools alongside the core financial management system.

"Rather than let new versions come out separately, we've integrated them into a solution that delivers what we believe companies in the mid-market want to gain from the individual modules," he said.

"Linking performance management with operational finance systems is what will drive the mid-market forward. In the real world, what everyone should be doing is better forecasting, budgeting and planning.

"Most people have been through two or three financial system upgrades, and process the transactions quite well. But what does it contribute to the business if you close the books a day earlier?

"Where finance functions do a terrible job is forecasting and budgeting - which is more important to the business. They all admit it takes too long, and is usually done on less than satisfactory spreadsheets. That's where we think finance needs to focus. If you're a medium-size company and you talk abut corporate performance magement, where do you start? Budgeting."

Rayner said SunSystems was offering extremely aggressive pricing for the exfm bundle. "We want to launch exfm to all," he said, adding that it would be available as an upgrade for users of both SunSystems 4 and 5 versions.

Alongside the core financial legers, corporate allocations and fixed asset modules, exfm includes the Vision reporting tool and a scaled down version of its Enterprise Planning module, which was adapted from tools developed by the Systems Union business intelligence division.

Vision is the established Excel-based reporting and analysis add-on for SunSystems, but has been equipped with a Java-based front end to give it better Web capabilities. It has also been extended with programming links that let it connect to operational applications outside of the SunSystems suite.

The final ingredient in the exfm bundle is the Application Portal. Based on tools developed by another Systems Union subsidiary, Red Technology, the portal is a full Web content management system that incorporates the SunSystems application modules. Users can drag and drop the finanical management modules into a page layout to tailor reporting, processing and data entry screens for each user of the system, Rayner said.

For all the innovative technology available within exfm, Rayner emphasised the importantce of Budgeting & Forecasting: "This is where we're changing the game. Most mid-market developers say they have budgets in their systems, import and spreadsheet links. But that's not good enough. You shouldn't use the general ledger to do financial budgeting and finance. If you do proper budgeting, you don't just build one budget with quarterly revisions. You should have the ability to reforecast whenever you need to to reflect changing market conditions, or to analyse the impact if these trends continue, It's not really practical to do that in the general ledger when you're trying to close the monthly books."

According to Rayner, the multidimensional analysis capabilities of SunSystems Budgeting & Planning brings to the mid-market tools that have previously been reserved for "tier 1" corporates.

"Putting all of this together at such an aggressive price is unique in the mid-market," he said. "We're the only one with all these compoents developed and integrated by ourselves."

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