Regulatory & Compliance for ERP
ERP Platform for Compliancy Challenges
Industries and organizations facing new regulations and compliance mandates like IFRS and Sarbanes-Oxley (SOX) don’t have the luxury to evaluate whether the required change is cost-effective and/or necessary. They must either comply, or face legal and financial consequences.
There is understandably confusion about the capabilities and efficiencies of the various technology platforms offered within the enterprise resource planning (ERP) market today. Older, more rigid platforms have been forced to announce efforts to aim for more nimble, less costly solutions that better accommodate regulatory or compliance changes. These new efforts, often centred around Services-Oriented (SOA) technology, are taking years to complete, are costly to purchase and implement, and will once again entrap would-be buyers into having to stick with yet another generation of technology. Agresso’s VITA architecture sits beneath the Services-Oriented Architecture (SOA) technology layer, so that the power and capabilities of VITA are inherent and not dependent on SOA; Agresso is able to make use of SOA easily and in its correct capacity – as a technology enabler, rather than as a replacement for proper systems architecture.
The implications of the VITA advantage are apparent not only to CIOs, but also CEOs, COOs and CFOs. Finance departments fully understand the massive cost of continually having to hire external consultants to make even simple systems changes, or of having to change technology platforms to get access to new solutions. Choosing Agresso protects the buyer organization from having to continually pay for “the latest” architectural platform.
To highlight the key advantages of VITA, UNIT4 Business Software has had independent analyst firm Technology Evaluation Centers (TEC) carry out a survey on Agresso, Oracle and SAP executives, as well as each firm’s individually selected customers, to determine how 46 different types of change across five change categories, one of which was “Complying to New Regulations, would be made.” Out of the 46 types of change:
- SAP customers (validated by SAP executives) claimed they needed to re-code at the application levels in all 46 of the changes;
- Oracle required application re-coding in 42 of them;
- Agresso required re-coding in just 2 of the 46 change types.
VITA™ Regulatory & Compliance advantages
Ultimately, Agresso customers gain an eight-fold business advantage, when faced with changes caused by regulatory and compliance requirements: