For Business Process Professionals

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	September 15, 2005 Financial Management Applications: Expanding Beyond The Accounting Hub by Paul D. Hamerman with John Ragsdale, Andrew Bartels, Ian Schuler	Average: 9  (1 rating)

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Executive Summary

Despite the overall maturity of financial management systems, these applications are on the forefront of business and IT priorities. With the emphasis on control and efficiency brought on by Sarbanes-Oxley (SOX), companies are consolidating, upgrading, and optimizing their financial management systems environment to improve financial reporting. In addition, there is strong uptake in financial management applications (FMA) subcategories of planning/budgeting, financial reporting, and internal controls evaluation and monitoring. As a core transactional hub for the enterprise, the accounting system is an essential FMA component that is complemented by financial planning, reporting/analysis, and compliance components. The overall financial management applications market is currently $4.5 billion in product revenues and is growing at an annual rate of 5%.

TABLE OF CONTENTS

• SOX Exposes Flaws In Financial Systems
• Financial Reporting And Process Requirements Are Evolving
• FMA Architecture Combines Core, Process, And Information Layers
• Moderate Overall Growth Offsets Market Consolidation
• ERP Vendors Squeeze Best Of Breed

RECOMMENDATIONS

• Timing Is Everything

WHAT IT MEANS

• Consolidation Continues Around Suite Concepts
• Related Research Documents

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