Imagine this scenario: you finally realized your childhood dream of inventing and manufacturing your own line of bendy straws (we are labeling you as a “visionary”). Within months, competition arises, but you believe you have the advantage of product design and costs. Soon enough, you find out your competition is selling their product at 70% of your price. No amount of cost cutting you can think of will allow competition with such a discount and your short reign as king or queen of the flexible-drinking-experience-augmentation market is over. Now you may not identify with straws but how about computers, furniture, or aerospace? The truth is that competition in any industry will revolve around one central issue: costs. These costs come in many forms but the one most often overlooked is efficiency costs. My priority as a CIO or controller would be: how can I detect inefficiencies and more importantly, how do I fix them? Both question...
Accounting Software and ERP Systems