Most ERP systems
incorporate best practices. This means the software reflects the
vendor’s interpretation of the most effective way to perform each
business process. Systems vary in how conveniently the customer can
modify these practices. Companies that implemented industry best
practices reduced time–consuming project tasks such as configuration,
documentation, testing, and training. In addition, best practices
reduced risk by 71% compared to other software implementations.
Use of best practices eases compliance with requirements such as IFRS, Sarbanes-Oxley, or Basel II. They can also help comply with de facto industry standards, such as electronic funds transfer. This is because the procedure can be readily codified within the ERP software, and replicated with confidence across multiple businesses who share that business requirement.
Source : Wikipedia
Use of best practices eases compliance with requirements such as IFRS, Sarbanes-Oxley, or Basel II. They can also help comply with de facto industry standards, such as electronic funds transfer. This is because the procedure can be readily codified within the ERP software, and replicated with confidence across multiple businesses who share that business requirement.
Source : Wikipedia
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