On February 11th, I presented a Tensoft customer training webcast on the topic of “Tensoft FSM Data Uploads.” I’m an FSM Manufacturing and Supply Chain Consultant here at Tensoft, and wanted to be sure that all of our customers are aware of the benefits of using Tensoft FSM Data Uploads, especially when working with large […]
How to Measure the Return on Investment (ROI) of an ERP Implementation with Infographic
A question that we’re often asked is: “How do you estimate the anticipated ROI of an ERP system, and what methodology works best for this?” There are five main areas that should be evaluated to determine this: 1) IT costs, 2) productivity, 3) visibility, 4) risk, and, 5) audit and compliance impacts. Here are some […]
UK Modern Slavery Act 2015 – Get Ready For Compliance…
Those of us who thought slavery was an unsavoury historical remnant would do well to think again following the enactment of the UK government’s new Modern Slavery Act 2015, which has significant implications for international organisations who annual sales revenues in the UK are greater than $54M need to act now… The element of the […]
A Question on Stand-Alone Value for Delivered and Undelivered Items in a Multiple Element Arrangement
During one of the complimentary revenue recognition webcasts that I teach through Tensoft, an attendee asked the following question about the guidelines for multiple-element arrangements and the criteria for stand-alone value: “If I understand this correctly, only the ‘delivered item’ needs to have stand-alone value; the ‘undelivered item’ does not need to have stand-alone value […]
What would Benjamin Franklin say about Revenue Recognition?
The quote “An ounce of prevention is worth a pound of cure” is as prudent today as first written by American forefather Ben Franklin. As it applies to revenue recognition, the axiom is a truth we (at Tensoft) hold to be self-evident. Yet according to a 2014 report by Audit Analytics, revenue recognition accounted for […]
An Introduction to Standard Costing in the Technology Industry
[The following is a partial transcription of the beginning of a recorded Tensoft FSM training webcast, which is available to anyone who’s interested – see video here.] “While semiconductor manufacturing is a process, it also has fixed outcomes, which makes it unique. So it’s not really process manufacturing like food, oil and gas, or paint […]
RCM Training Webinar: Understanding the Revenue Agreement Management Function
On December 18th at 11.00 am, Tensoft will be hosting exclusive RCM training webinar open to all our valuable customers. This informative webinar will focus on “Understanding the Revenue Agreement Management Function” and will be presented by Tensoft Controller Dan Berube. To register, click on the tab below. Along with the review of function, the […]
Microsoft Dynamics GP Training: Reconciliation Made Easier
[The following is a transcription from the beginning of a webcast which was recorded and is available to anyone who’s interested – see below.] We as accountants know the importance of reconciling our sub-ledger balances to our General Ledger control accounts. We’re used to doing this with Excel downloads, of course. With Microsoft Dynamics GP […]
Webcast Preview: “Revenue Recognition for Technology Companies”
Tensoft & Novadek co-sponsored a revenue recognition webcast on October 22, 2015 presented by Silicon Valley Revenue Recognition Expert Jeffrey Werner. This webcast was free for everyone and the attendees received 1 CPE credit. Some of the topics covered in this webinar were software revenue recognition for multiple element arrangements and the relative selling price […]
Answers to Your ERP Selection and Implementation and Questions
Today’s blog features a Q&A session with Tensoft’s Director of Business Operations, Dan Berube . 1. What factors typically drive the decision to implement to a new accounting or ERP solution? Several factors can be involved at any one company. I’d say that the need to support growth and change tops the “short list’ of […]