Back Office and Operations Software Evaluation and Comparison

Today, almost every company must address processes such as technical support, customer service, and other administrative tasks. These processes fall under the heading of back office and operations, and for many organizations, they account for a high percentage of overall operating costs. Those costs—combined with volatile global economic conditions and fierce competition for markets and business segments—are forcing companies to constantly improve back office and operations processes to better address their specific needs, reduce costs, and increase productivity and profitability.

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Companies in a variety of industries are also facing specific challenges that require them to improve their back office and operations processes. These include

effectively supporting all business operations and back-office processes;
improving the performance of back-office processes in a way that maintains or reduces costs and increases return on investment (ROI);
maintaining the quality of general operational process to ensure that all operational information generated by various business areas (sales, finance, accounting, human resources, etc.) will be processed, maintained, protected, and communicated accurately and on time; and
encouraging productivity improvements and process integration throughout the organization.

Companies can overcome these obstacles by using software solutions designed specifically for back-office and operations processes. These include accounting systems, business process management (BPM) systems, enterprise incentive management (EIM) systems, financials systems, human resources (HR) systems, enterprise asset management (EAM) or computerized maintenance management system (CMMS) software, learning management systems (LMSs), regulatory and compliance systems, and project portfolio management (PPM) systems—all with specialized functionality for specific departments.

Benefits of Using Software Solutions for Back Office and Operations

Companies need accounting systems to handle all financial operations. General ledger (GL), accounts payable (A/P), accounts receivable (A/R), costing, and fixed assets are just a few of the areas accounting systems are able to address. Some accounting solutions also include functionality for multinational accounting, and can manage multiple currencies and multiple locations.
Companies can use BPM systems to manage all manufacturing and service delivery processes. BPM tools make it possible to create, monitor, and manage process models, as well as apply business rules, business controls, and analytics to measure the overall effectiveness of a business process.
Enterprise incentive management (EIM) systems help companies process employee compensation. This type of system can sit between human resources (HR) and customer relationship management (CRM) systems to provide management tools for sales performance and business operations teams. It can also be used to enable manage company-wide compensation schemes.
Companies can use financial systems to manage specific combinations of financial processes including budgeting, financial reporting, and project accounting.
HR software systems can help companies manage personnel and employee tasks, process and control payroll, administer benefits (health and life insurance, etc.), manage safety requirements, and other HR tasks.
Enterprise asset management (EAM) systems and computerized maintenance management systems (CMMS) can help companies to control, manage, and plan asset events, costs, and depreciation, maximizing the ROI of every asset. Companies can also use EAM/CMMS to control maintenance operations such as risk management, maintenance management, integration, inventory management, and more.
Training is an important task that companies must address to improve the quality of the services they offer, and to increase productivity. Companies can use LMSs to manage, create, and schedule training material for practically all employee learning needs. From classroom training to virtual or online training, an LMS can help companies manage course content, and competency and performance management.
Companies in all industries can use specific regulatory and compliance software systems to meet internal and local, national, and international regulatory standards. These systems help companies minimize compliance costs and risks, and manage hazardous- or controlled-materials, as well as non-recyclable and recyclable materials.
PPM systems can help companies apply internal project development methods and align projects with the overall organizational strategy. PPM solutions can also help companies address issues related to time, money, and resources spent on internal projects. They can also help manage resource planning and scheduling, time and expenses, budgeting and costing, and knowledge management.

THE RISKS OF A FLAWED BACK OFFICE AND OPERATIONS SOFTWARE SELECTION PROCESS

Without accounting systems, organizations will not be able to accurately process and record accounting transactions. GL operations may be more difficult and more error prone.
Without BPM tools, companies will not be able to optimally manage business processes. Tasks like process collaboration, simulation and validation, and form management will not be accurately managed.
Companies without EIM systems will not be able to manage flexible employee compensation. Nor will they be able to improve productivity based on flexible compensation management for sales and operational resources.
Companies that do not have financial packages will not be able to accurately perform basic or critical financial tasks like financial reporting, project accounting, or other important processes required for total control of financial operations.
If companies don’t have EAM/CMMS, they will not be capable of addressing asset-management-related activities (inventory, maintenance, etc.). Consequently, they will not be able to maximize the ROI of assets.
Companies without training systems may not be able to give all employees the necessary training and learning tools required that ultimately help increase profits and the overall quality of services.
Without systems that address regulatory and compliance requirements, companies may not be equipped to meet standards and regulations. They also risk not learning about important new regulations, or important changes to existing regulations, in a timely manner.
Companies that don’t use PPM software solutions will not be able to manage internal project portfolios, or align internal projects with organizational goals. This could lead to suboptimal ROI for internal projects, and lost profit.

Why Use the Back Office and Operations Evaluation Center?

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