ERP systems provide an integrated suite of applications for an enterprise to manage resources, control supply, purchasing and sales operations and provide operational and financial control of the business. Applications would typically include Inventory and Supply Chain Management (SCM), Customer Experience (CX), AP, AR and Financials and human resource management. This article will look at…
As the deadline to the new lease accounting standards IFRS 16 ASC 842 looms, compliance is at the top of finance managers’ agendas. To comply with the new guidelines, organisations will have to change the way leases are recorded and processed, as the new standards increase complexity, requiring that operating leases now be reflected on…
With only months lefts before the new lease accounting standards ASC 842 and IFRS 16 become effective, many companies have not taken the steps needed to meet the deadline. In previous posts, we went through lists of questions to help CFOs assess in which stage of the transition plan the organisation is, transition guides and…
This week VIP Apps Consulting we will be attending the International Asset Finance Network 2018 Conference and Awards, taking place on Thursday 13th September at the Park Plaza London Riverbank. Under the theme People, pain points and processes: how technology is transforming auto, fleet and equipment finance, the IAFN event provides focussed content for auto retail,…
The unprecedented speed of the disruptions caused by new technologies and changing customer expectation is putting more pressure on organisations in the leasing and asset finance industry to embrace digital strategies and be more responsive and agile. Organisations tend to focus on the technology innovation, and in most cases, the reality is that they are…
Today, for companies to stay competitive, they need to innovate continuously. Transformation programs are triggered across all industries to meet new customers’ expectations, improve products, implement new technology and create agile organisation ready to adopt the innovation. Leading change initiatives is hard. Nearly 70 per cent of change programs fail to achieve their goals, proving…
Advances in technologies like robotics (RPA), artificial intelligence (AI), and machine learning are driving a new era of automation in the finance function. Companies in the leasing and financial services industry face market changes characterised by the rapid evolving speed of disruptive technologies, where even digital-born companies need to transform continually to stay up to…
The pace of technology change in the financial services industry accelerates and traditional lending organisations are embracing digital transformation initiatives to enable the development of customer-centric solutions and process improvements at speed and scale. Technological innovation is transforming the financial services industry, facilitating the creation of new products and services that focus on both enhancing…
Companies in the finance and leasing industry, focused on digital strategies and are looking to CFOs to help them develop the strategies needed to respond to technology innovation, build their business transformation plans and lead the change. Making business transformation projects a reality is not easy. In today’s market, characterised by extraordinary urgency and tougher…
From IT, operations to finance billing, employees across departments are caught in manual and repetitive tasks every day. Companies in the financial services and leasing industry are starting to implement chatbots, machine learning, artificial intelligence (AI) and robotic process automation (RPA) solutions to exponentially increase productivity by the automation of repetitive tasks, a fundamental part…
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