Why change ERP software?

An ERP software is the backbone of the information system in enterprises, it is the tool that provides the necessary functionality to improve competitiveness. It is therefore crucial that it evolves or is changed to maintain or develop the productivity of the company.

The software package used today by your company may not cover its needs or may no longer be able to support your organization in its growth and its innovation objectives. Certain signs of obsolescence of an LES are not misleading , they must draw your attention and provoke possible reflections.

If you recognize yourself in the cases listed below, it may be time to change your current ERP software to a solution adapted to your needs. Then watch the offer, new features, models ... on the market, try to make some comparisons with your ERP software .

ERP, user experience and functional limits

Is your current ERP solution complicated to use, not very ergonomic, it lacks flexibility, navigation is not very fluid and response times are long?

Over the past 6 years, business practices and expectations have changed dramatically while the user experience is at the heart of staff productivity. In addition if some features are not covered, then do not hesitate any longer and seriously consider changing your ERP software.

Your maintenance costs

The maintenance costs of your ERP solution are too high and you cannot take stock of the specific developments that have been added to make up for the missing functionalities.

The former ERP can become increasingly expensive especially as the publisher keeps them to a minimum, that the hardware has also lived and less reliable.

Scalability of ERP software

The needs of your organization or the expectations of the staff are growing but there is no possibility of integrating new trends or additional applications:

·         Web interface

·         Business intelligence

·         Cloud

·         Mobility

·         E-commerce ...

D systems

The employees of your company have become specialists in spreadsheets and abuse them to gain visibility into their work.

This means that the ERP in place does not (or not simply) manage certain functions and that you continue to invest in a solution that no longer meets the needs of the company.

The impact on your business

Have you lost business to competitors who offered better lead times or better service rates ?

The ERP may not be the only culprit in this, but the system prevents or limits your responsiveness, your ability to answer questions from your customers or deliver products on time.

The adequacy of ERP software with your growth

Your company grows and evolves faster than your information system can assimilate, you feel the need to better control your processes.

Your ERP Software solutions in Dubai prevents you from following the implementation of new processes or technologies? Your supplier no longer offers you an update and cannot respond to your requests for new features?

Accessibility and readability of dashboards

Policymakers are frustrated with not being able to easily access the information they need on trends, numbers, their market.

The implementation of an ERP solution must be a "facilitator" that improves customer satisfaction and business productivity. At no time should it be an obstacle to the development of the company.

Your current solution is no longer in line with market standards, so don't wait any longer!

If you are currently looking for a solution, we invite you to read our article on the criteria for choosing the right ERP.

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The reform in 2020 of the international audit certificate (CIA)

Reform the CIA to take account of developments in the business world

2020, year of the reform of the Certified Internal Auditor! The Institute of Internal Auditors (IIA) has decided to revise the emblematic certification that drives an entire profession. Auditors having the obligation to adapt to any change impacting their organization, what could be more normal than the examination testing their professionalism and their skills are also transformed. In recent years, in fact, there have been significant changes, both on an economic, financial and legal level, mainly following the crisis, and at the level of the processes and tools used by companies, cyber security in particular being has become a major concern within organizations, all sectors of activity combined.

The revision of the CIA thus aims to take these transformations into account. But who says reform of course says questions, especially among those already engaged before 2020 in the certification process, and also among all those wishing to take the exam in the near future. However, it should be noted that the reform came into effect in January 2020 when the examination is carried out in English,. The purpose of this publication is to answer the main questions that are already raised by a number of listeners, by distinguishing what mainly does not change in 2020 compared to the previous CIA format and what, on the other hand, is reviewed.

What does not change with the reform of the CIA?

The CIA is maintained in its pre-reform format, an examination in the form of multiple choice questionnaires, consisting of three parts. Certification is therefore always obtained by correctly answering a minimum of questions (around 75% correct answers for each of the parts). The objective of the CIA also remains the same that is to test the capacity of the auditor to put into practice professional auditing standards, to respect the ethical imperatives stated by the IIA, to have general knowledge allowing him to evolve in the business world in conditions essential to the exercise of his profession. The three parts in question are as follows:

Part 1 entitled “The basic concepts of internal audit” , composed of 125 questions and the time allowed to answer them is 150 minutes;

Part 2 entitled “The practice of internal audit” , the number of questions is 100 with 120 minutes to answer;

Part 3 about “Economic knowledge necessary for internal audit” , also comprising 100 questions, the candidate also having 120 minutes to give his answers.

The reform of the CIA does not upset the "spirit" of the examination either. Auditors are still required to know how to adapt to both conceptual and normative as well as practical issues. The questions remain inscribed in a perspective shared between two levels, the first says basic, the second experienced.

What changes for part 1 of the CIA?

The reform of the CIA consists above all of a programmatic change for each part, the first relating to the basic concepts of internal audit. Governance, risk management and control systems are now the main component. More specifically, the program for Part 1 after reform is as follows:

The fundamentals of Internal Audit and control system reviews in Dubai, the subjects of which relate essentially to the definition of internal audit according to the IIA, the nature of the missions and powers of the auditors, the Code of ethics and the charter of internal audit;

The independence and objectivity of the internal auditor, in particular with regard to his hierarchical positioning and the limits as to the performance of his work;

The competence and professional conscience of the internal auditors, on the need for the audit to have the knowledge and skills required for the performance of the missions, especially when these require auditors a high degree of technicality;

The quality assurance and improvement program to be implemented by the head of internal audit to ensure that his service collectively complies with IIA professional standards;

Governance, risk management and control mechanisms , the objective for the auditor being to know the principles, methods, benchmarks, practices in terms of risk management, and also what must be involved governance on the subject;

The risks of fraud , the auditors not being intended to become experts in the fight against fraud, but at the very least they must have knowledge in the field to be able to pick up red flags and to act accordingly.

What changes regarding part 2 of the CIA?

The second part of the CIA is still focused on operating standards, but it now focuses on four areas:

·         The management of the internal audit functions, the objective being to ensure that the auditor knows the operating methods of an internal audit service, both administratively and technically. The candidate for knowledge certification is asked to establish the audit plan and to understand the link between the risks inherent in their organization and the audit missions to be undertaken. The communication of auditors and the drafting of audit reports addressed to governance are also a point of particular attention in this part;

·         Mission planning , the auditor should be able to determine the objectives of a mission and plan it accordingly, identifying, among other things, the means necessary to carry out the expected work;

·         Mission accomplishment , more precisely on the collection of information by the audit, on the analysis and evaluations to be carried out during a mission, on the supervision of the work carried out by the auditors;

·         Communication of the results of the mission and monitoring of progress actions, as regards the last phases of a mission to be mastered by the auditor.

What's Changing About Part 3 of the CIA?

Before reform, the 3 rd part of the CIA was composed of eight parts with a variety of extensive subjects. From now on, listeners will be asked to master four themes, which are as follows:

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·         Knowledge of the organization and its environment , on organizational aspects, operational processes, data analysis;

·         The security of information systems , in particular by knowing how to differentiate the types of control, identifying the impacts of technological developments on computer security, recognizing the legal devices in this area;

·         The basic activities inherent in information systems , both those concerning the infrastructure and its maintenance than the IT control framework, but also with regard to the resumption of these activities in the event of a breakdown or disaster;

·         Financial management, whether financial accounting for the analysis of balances, or management accounting for the implementation of budgetary processes and the performance of profitability calculations.

Related Post: 5 ways to improve the corporate financial performance of an MSP

The 5 criteria of good ERP management software

Surrounding yourself with quality people are important for your business to run smoothly ... Using the right tools is just as important!

Whether you have been a starter or in charge of your company for several years, it is essential to make the right choices! To guarantee the productivity and efficiency of your business, bet on the right management tools!

In this regard, what is good ERP management software? How do you know if you're looking for the best solution? There are various elements to take into account, and we present them to you below:

Ease of use

Intuitive software like ERP will allow quick handling by a larger number of people. It is important for your employees to have tools that are simple to use and that they will get to know more quickly. 

ERP Management software must adapt to your business needs

A company of 10 or 100 collaborators will not have the same needs in terms of management, and the tool that you will use must be able to adapt to the use that you will make of it. With its three versions (Personal, Corporate and Advanced) comprising more or less modules and the possibility of adding additional functionalities depending on what you are looking for, AAA-CAS is perfectly adaptable to the needs of your business.

Compatibility with your IT tools

You certainly carry out a series of operations with specific tools internally. Allows you to export and import data such as material safety data sheets or item data sheets into external spreadsheets. It is an additional facility in the implementation of the software with your collaborators.

Immortal and secure software

It is an imperative condition in the choice of your Customized ERP management  Software's in Dubai, Your data must be secure, and you must be able to access it at any time, in the short, medium, or long term. AAA-CAS offers you the possibility of hosting your data on highly secure servers.

The cost of the software should not exceed your budget

Choosing good ERP management software to increase the productivity and efficiency of your business involves a certain investment. However, you have to be careful about the conditions offered by certain programs, prices soar quickly. At AAS-CAS, we operate by monthly subscription, adapted to your needs and budget.

As you can see, the complete ERP management software meets all the criteria, but it does not stop there…

We offer an enriching, personalized training program accessible to everyone. Likewise, our “Support” team , with many years of experience, is at your disposal for any questions.

These elements constitute a real added value in the management of your business. Being able to count on a reliable and accessible partner is the wish of any business owner. Find out for yourself and contact us  !

5 ways to improve the corporate financial performance of an MSP

If you are the owner or manager of a company that follows the model of managed IT services or MSP, you have different responsibilities on your shoulders. You have to make sure:

·         that the work is done properly;

·         that customers are happy;

·         that technicians work hard without risking a nervous breakdown.

In other words, you are responsible for the success and Corporate Finance Services in Dubai situation of your company.

There are several ways in which you can, each month, directly influence the income, the balance sheet or the corporate cash flow.

I chose five to share with you in this article.

1. Close the projects

The 95 % complete projects, which lack the last nudge to be concluded, are THE enemy.

Not only do they stand there, on the chalkboard or on PCs, screaming "you have not finished with me!", But usually also represent the precious time "billable" that has been spent by you or your technicians and collaborators, but not billed in any way.

Close the projects!

Invoice the customer as soon as possible. Remember that a customer pays bills (we hope!), But only after receiving them. It is very likely that right now you are still waiting for payments for jobs you did 60 or 70 days ago. Am I wrong?

These situations kill cash flow . I'm serious.

2. Close the support tickets

A reasoning similar to that done for projects also applies to assistance tickets that remain locked in the same status for days, weeks or months, are bad for your business.

Even if it is a customer to whom you offer a "complete package" of services, and therefore you will not pay more to settle a grain, a non-closed ticket means that there is an outstanding problem with that customer. And if the customer has problems, he is not happy. You also know that an unhappy customer is less willing to pay and buy other services than you, right?

If the ticket is related to a customer to whom you offer assistance Corporate Finance Services traditional mode or break-fix, this open ticket represents money you are not cashing . Even if you have already incurred the costs for its resolution by paying the salary to your technicians.

In these cases, the more aspects, the less the chances of being paid. If you and your employees resolve a ticket after weeks or months, do you think the customer is happy and happy to pay you? Customers are not all the same, but the equation expressed implicitly in the previous lines remains valid:

Unhappy customer = no money

3. Take advantage of your RMM to create scripts and automate recurring operations

Too often you see RMM (Remote Monitoring and Management) tools used as expensive remote control tools.

It's an incredible mistake.

Devoting time and resources to understanding how your remote management tool works may seem crazy when you have to handle the needs of many customers, but it is not. Indeed, it is a vital activity.

Studying the RMM tool must become a priority for you and your technicians; otherwise you will not be able to exploit the full potential of the tool.

Once you become "good" with your RMM the road is all downhill: you can use scripting and automation to quickly and effectively resolve recurring problems, you will save time and money and offer a better service to your customers.

4. Train the technicians so that they think "should I solve this problem?"

I often see technicians scurrying to solve problems that should be eliminated by replacing the hardware or software that generates them.

This is why your technicians and collaborators should be able to recognize immediately when something needs to be replaced and not repaired. Make the question "should I fix it or change it?" "Enter the corporate culture.

If the solution is to change the element that generates problems, it can be a good sales opportunity.

5. Track where the technicians are spending their time.

The time of your technicians is precious, not only because you are paying for their working hours, but also because it is often the time that the technicians use to solve a task that makes you earn. How can you be sure of correctly billing all the "hours" to customers? How do you know you're not losing money?

You need to know for sure where your technicians' time is spent: are they training? Are they solving a customer problem? Are they studying new solutions for your company?

The best way to measure the time of your technicians and verify that you are not losing valuable "billable hours" is to use a tool PSA or Professional Service Automation.

These suggestions are not the solution to all ills, but if applied they can all bring significant benefits in terms of operational efficiency and cash flow to your company.

Related Post: An ERP system for financial services, CAS Dubai

An ERP system for financial services, CAS Dubai

What should you pay attention to when implementing an industry-specific ERP system? This article focuses on ERPs for financial services.

The financial sector has not had it easy in recent years. Although the crisis years are now over, they have significantly damaged the reputation of the industry. Whether you are a bank, insurer, pension fund or financial advisor, you have to work hard to regain the trust and loyalty of customers. ERP software can help, but then you have to choose the right system. This article will go deeper into this issue.

Enter hours automatically

The earnings model has changed drastically for many financial service providers in recent years. Where earning was primarily based on commissions, advice is now the most important source of income.

This change has put pressure on many companies. To keep their heads above water, some entrepreneurs are now opting for IT systems. This is understandable, but IT can mean a large financial outlay and only a few use it optimally.

Unfortunately, such decisions often come up at short notice. Now that more and more billable hours are being worked on, a good ERP system is crucial. Functionalities for time recording and invoicing have become increasingly important. Every hour that is not processed correctly costs direct sales. The system can also be used to clearly show the amount of return per order.

Compliance considerations when looking for ERP

After the recent crises, supervision and regulation for the financial sector have been tightened. An ERP system is also important to meet these new rules. It is too complicated for this article to delve into all the legal nuances and the exact way in which an ERP system can help. However, we would like to emphasize that it is worthwhile to find a provider with industry-specific knowledge and experience.

For example, insurers and mortgage advisors are grouped in the same sector, but the laws and regulations are very different. There are also big differences within the insurance industry. You can understand that there are different rules for cars than for health insurance. Because compliance is an important task for financial service providers, you need to be sure that your ERP supplier is up to date with the latest developments in your industry. Only then can they help you comply with all rules.

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Integration problems due to security considerations

Specialization in your industry is also important so that the implementation process runs smoothly. The way in which existing and outdated systems, particularly in the financial sector, have to be dealt with requires precision.

It is a major challenge for any company to switch from an old to a new IT system. This is even more difficult for financial institutions, as it is often not allowed to work in older systems.

Take banks for example. These often work with back office systems that were written a long time ago. The programming work is very complex and a technical error has far-reaching consequences. On the other hand, banks are finding that customers are constantly asking for new, attractive front-end solutions. Think of the popularity of mobile internet banking. However, these innovations should be compatible with existing systems. Shielding the backend is therefore an important task for technical implementation partners.

The example above is about banks in this case, but there are similar cases for any type of financial service provider. Only specialized partners have sufficient knowledge of these systems and the languages ​​in which they are written. You understand your situation and this makes everything run a bit smoother.

Online customer support is a must

Proper use of ERP makes it much easier to support, retain and recruit customers. In the highly competitive financial sector, companies must strive for a consistently high level of service in order to guarantee customer loyalty. This leads to high investments, for example in telephone customer care. Automating customer contact can offer a solution. To date, companies associate automated customer support with poor service. However, nothing is less true.

Using an online contract policy portal is a good example. In many ways, this is clearer, faster, more accessible, and more convenient for customers than calling your customer service. With a digital contract guidelines portal, customers can view their data, but also change, expand or request existing services. If this function is part of a Customized ERP Software's in Dubai, the changes are processed correctly.

Less telephone support is required and the number of administrative actions is reduced. Some (high-price-oriented) insurers do not offer any possibility of contacting us by phone. Although the complete elimination of the help desk can be described as rigorous, it is clear that this saves time and money. But online support such as a digital contract guidelines portal can also increase your sales. It is a perfect place to offer and cross-sell. New products and services can be tailored in detail to the individual needs of the customer.

ERP parties for financial service providers                  

If you've been looking for ERP on the internet lately, you'll likely have found hundreds of different options. How do you make the right choice now? Of course, this depends on which functionalities you want, how high your budget is, how much adjustment you need, whether you choose cloud or on-premise.

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Accounting and financial audit: definition, role in the company

The audit is a procedure which certifies the accounts of a company. It is ensured by an auditor (person in charge of this mission) who attests to the good financial health of the company as well as the regularity of its management. A good audit thus ensures certification to said company with different partners or organizations for example. Beyond this control mission, the auditor thanks to his analysis allows his client to foresee the future steps to be taken. The audit therefore allows analysis in many very different areas: accounting, finance, management, the product development process, etc.

The profession of auditor

The auditor is a self-employed person or an employee of a company specializing in auditing. The most important part of his work concerns the accounting and financial audit of a company:

·        Control the company's accounts,

·        Evaluate stocks,

·        auditors in Dubai

·        Check the good financial health of his client,

·        Be aware of new national and international legislation (etc.).

The auditor is generally an auditor or a chartered accountant, he can also be a graduate of bac + 5 (master 2) in a financial field. A good auditor is attentive and rigorous in his work because it is he who certifies the financial state and the conformity of the documents of the company calling on his services.

Internal Audit

The auditor (or audit team) is employed by the company. He controls, verifies, inspects and monitors the company's accounts with a critical view. The audit can be financial or accounting and financial.

External audit

The auditor is outside the company. As an auditor is external to a company, his mission is always an external audit. The points to be checked will not be fixed by the company being audited but by the sponsor. As in the internal audit, the auditor will prepare a report which he will then submit to the applicant

Third party audit

This form of audit is controlled by a neutral entity, generally an organization granting certain certifications to ensure that the company being audited respects the rules in force. The audit once carried out will highlight certain points which will determine or not the obtaining of an ISO standard for example.

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The importance of performing an audit

Analyzing the functioning of your company on as many points as possible is very important and can be of little help. Indeed, the fact that an accountant attests to the veracity of the accounting entries allows 

Difference between internal audit and external audit 2020

Key difference - Internal vs External Audit

The control process is one of the essential aspects of an organization for its long-term survival and success. The audit committee is appointed by the board of directors to review the effectiveness of the company's audit process. Internal audit and external audit are the two main components of the audit process. The fundamental difference between internal and external audit is that internal audit is a function that ensures independent and objective assurance that the internal control system and the risk management system operate effectively while the audit is an independent function outside the organization that assesses the financial and risk aspects to comply with the statutory auditors in UAE requirements.

What is Internal Audit?

Internal audit is a function that provides independent and objective assurance that an organization's internal control and risk management system works effectively. The internal audit function is led by the internal auditor who has recent and relevant financial experience. The internal auditor is appointed by the audit committee and the internal auditor is responsible for the members of the control committee and must report periodically on the results of the audits. The audit committee has the following roles to perform with regard to internal audit.

1.     To monitor and verify the effectiveness of the internal audit function of the company

2.     Ensure that the internal audit function has access to adequate financial resources and other resources to perform its functions

3.     Make sure that the internal audit function has support and access to relevant information from all parts of the organization to carry out a successful audit

4.     Report to the board and make appropriate recommendations on how to improve the company's internal control system

5.     Consider management's response to any external or internal audit recommendations

If the company does not have an internal audit function (this is possible in a certain type of company, particularly in small companies where an external audit function exists), the need for an internal audit function should be considered annually.

What is external audit?

External audit is an independent function outside the organization that assesses the financial and risk aspects associated with compliance with the statutory audit requirements. The main role of the external audit is to provide an opinion if the company's financial statements present a true and correct view and evaluate the effectiveness of the internal audit function. Therefore, the internal control function is replaced by the external control function. The external audit function is managed by the external auditor, appointed by the company's shareholders. The audit committee plays the following role with regard to external audit.

1.     Assign recommendations to the board in relation to the appointment, removal and reelection and external auditor

2.     Approve the remuneration and conditions of engagement of the external auditor

3.     Monitor and verify the independence of the external auditor, performance and objectivity, and develop and implement the policy on the engagement of the external auditor to provide non-audit services

What is the difference between internal and external audit?

Internal audit to external hearing

Internal audit

Internal audit is a function that provides independent and objective assurance that an organization's internal control and risk management system works effectively.

Main responsibilities

The main responsibility of Internal Audit is to review the effectiveness of the internal control system.

Legal requirement

The availability of an internal audit function is not mandatory by law.

Appointment of the auditor

The internal auditor is appointed by the audit committee.

External audit

1.     External audit is an independent function outside the organization that assesses the financial and risk aspects associated with compliance with the statutory audit requirements.

2.     The primary responsibility of the external audit authority is to provide an opinion if the company's financial statements present a true and correct view.

3.     All companies must have an external audit function required by law.

4.     Shareholders appoint the external auditor.

Summary - Internal Audit to External Hearing

The difference between the internal and external audit is a distinct position in which the internal audit is conducted by corporate employees while the external audit is conducted by an external party to the organization. The control committee should meet at least twice a year to carry out its audit on the effectiveness of the internal audit function and the management board should also review the effectiveness of the auditors in Dubai committee annually. Since the external auditor is appointed by the shareholders and the function replaces the internal audit, the external audit is considered more credible.