Cartesis Calls for Closer Collaboration Between IT and Finance Heads; Launches White Paper Outlining the Challenges Facing CIOs in the New Financial Environment.Business Editors/High-Tech Writers NORWALK Norwalk (nôr`wôk'). 1 City (1990 pop. 94,279), Los Angeles co., S Calif.; settled in the 1850s, inc. 1957. With the arrival (1875) of the Southern Pacific RR, it became a center for the dairy and logging industries, but , Conn.--(BUSINESS WIRE)--Jan. 21, 2004 Collaboration Working together on a project. See collaborative software. between the CFO See Chief Financial Officer. and CIO CIO: see American Federation of Labor and Congress of Industrial Organizations. (Chief Information Officer) The executive officer in charge of information processing in an organization. is key to the successful implementation of systems for effective corporate reporting and measurement. This is the conclusion of a new White Paper from business performance management (BPM (Business Process Management) A structured approach that models an enterprise's human and machine tasks and the interactions between them as processes. BPM software provides users with a dashboard interface that offers a high-level view of the operation that typically ) specialist, Cartesis. The paper outlines the new challenges faced by finance departments of large, multi-national companies, as they seek to cope with the additional pressure inflicted by recent changes in regulatory, economic and financial climates. The report argues that in order for the CFO to deliver accurate, timely and detailed corporate information to the business, they need the support and close collaboration of the CIO. This is particularly key when it comes to evaluating new systems to carry out the reporting and analysis work. As the IT department moves towards supporting new finance and accounting requirements, the CIO must now be ready to address key CFO demands. These include the ability to provide a complete BPM solution which is capable of integrating with existing legacy systems, the need to comply with changing regulations and the need for global availability of any new solution. "While the role of the CFO is certainly changing and becoming more demanding, companies shouldn't forget the crucial part the IT department has to play in making sure that BPM processes are carried out effectively," said Paul Giardina, Executive Vice-President of Corporate Marketing at Cartesis. "CIOs need to be involved from the start when new systems are being evaluated, as they have a valuable role to play in assessing the impact on networking infrastructure and legacy systems, staffing resources, total cost of ownership (TCO (1) (Total Cost of Ownership) The cost of using a computer. It includes the cost of the hardware, software and upgrades as well as the cost of the inhouse staff and/or consultants that provide training and technical support. See ROI. ), scalability and support to the rest of the business," he continued. "Finance and IT need to work closely together, to ensure that the effectiveness of any new BPM solution is maximized - this should be the end goal for any organization." For a free copy of the White Paper titled Meeting CFO Demands at Global Organizations: A CIO perspective on Evaluating BPM Solutions, please go to: http://www.cartesis.com. About Cartesis Cartesis provides CFOs with a unique business performance management solution to deliver the whole 'story behind the numbers' with unparalleled clarity and insight. Leading multinational companies around the globe rely on Cartesis software applications to get the full picture and offer timely and relevant information to their stakeholders Stakeholders All parties that have an interest, financial or otherwise, in a firm-stockholders, creditors, bondholders, employees, customers, management, the community, and the government. . The company maintains offices in Brussels, Frankfurt, London, Madrid, Norwalk, CT, Paris, Tokyo and Utrecht. Cartesis products give global companies the analytic capacity In complex analysis, the analytic capacity of a compact subset K of the complex plane is a number that denotes "how big" a bounded analytic function from  can become. and the flexibility they need to assess the rapid changes in their
market places. One in five of the Fortune Global 100 and more than 30%
of the Financial Times European Europeanemanating from or pertaining to Europe. European bat lyssavirus see lyssavirus. European beech tree fagussylvaticus. European blastomycosis see cryptococcosis. 100 use Cartesis solutions to obtain unprecedented command over their financial information and processes. www.cartesis.com |
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