Automating Journal Entries A New Approach

Financial professionals spend a lot of time bogged down by inefficient processes and dispersed data, rather than focusing on strategy. Find out how 6 people took the lead and transformed their day-to-day financial processes in manual accounting, FP&A, and procurement. With minimal investment, they redesigned their workflows to create exponential benefits for not only their companies, but themselves: • No More Chasing People for Data • Easily Met Deadlines • Removed Need for Clunky Spreadsheets Download this eBook to learn more and see how you can write your own success story. Download Now

In this paper, we’ll discuss a real-life example of how one finance team empowered itself to take on process improvement. Unsurprisingly, the increased pressure on finance professionals continues to grow both in volume and quality, all while ensuring the accuracy and integrity of their work. A recent survey found that firms continue to spend more than 50 percent of their time preparing reports versus performing analysis and review. This situation is crying out for action to be taken—but what can one individual do to combat this enormous problem? Download Now

TurboLab is a revolutionary approach to software development that helps companies reduce costs, increase productivity, and improve response times. How can you reduce the cost of investing in software development and improve response time? The percentage of software that does not belong to the core business of a company can vary significantly depending on the company and the industry in which it operates. However, overall, it is estimated that approximately 80% of the software used in a company is not directly related to its core business; that is, it belongs to peripheral or satellite developments. This secondary software includes enterprise productivity software, such as accounting software, project management software, human resources software, customer service software, marketing and advertising software, and administrative software, among others.  In a company, it is essential that software development efforts and resources be focused on the core business. However, frequently businesses need to invest in systems that are not core-business systems and have low return on investments due to high development costs. Additionally, IT departments are often overwhelmed by the requirements and requests of all sides of the company, making it difficult for the departments to address satellite projects. Sometimes, certain areas of the company cannot be automated due to high development costs or lack of trained developers. That’s why at Vates we have created the TurboLab. This innovative approach provides software solutions that quickly adapt to changes in the business and focus on addressing NON-CORE applications. This application allows your company to reserve the best resources for your core applications and reduce development costs to address all secondary applications. For the development of TurboLab, we have based ourselves on the concepts of Software Product Line (SPL), Product Line Architecture (PLA), and Stereotype-based Management of Variability (SMmarty) that have reported reductions in development times of 30% to 50%. In conclusion, TurboLab is a unique and innovative solution that addresses the common challenge of investing in non-core software development and achieving a high return on investment. With TurboLab, you can reduce costs, increase productivity, and focus your best resources on your core business applications. Our team has successfully implemented TurboLab based on our 11 key principles, which have been proven to deliver significant reductions in development time and costs. By focusing on building reusable code, having well-documented libraries of boilerplate code, minimizing waste, designing for simplicity and reusability, thinking like programmers, and utilizing agile methodologies, we have created a culture of productivity and efficiency that benefits our clients. If you have any questions or would like to learn more about how TurboLab can benefit your organization, please don’t hesitate to contact us at sales@vates.com. Thank you for your time and consideration. Download Now