For anyone that is looking to change their Financial Management System (FMS) there is a plethora of software to choose from, but which one is right for your business? These days, you also have many more options around where to host your software (Cloud v On Premise), as well as how to pay for it (SaaS v Perpetual Licence) and suddenly, the decision is no longer as simple as it once was.
If we believe everything we read, then according to the industry soothsayers the only way to go is ERP in the Cloud with wall to wall functionality with the FMS coming as a natural part of the solution, however on closer analysis many of the popular ERP solutions, particularly those that have been “born in the cloud” for SME’s / SMB’s lack industrial strength FMS functionality.
There are certain sectors and industries that would gain little benefit from the implementation of a general ERP solution, in fact in some instances it could even be a retrograde step. A prime example is the UK Financial Services sector, many businesses will have specialist front of house systems such as underwriting, broking, FX management, investment management, asset management, settlement systems, etc. which integrate through to the FMS. Add to this the ever increasing regulatory and reporting requirements, then finding a solution in your typical ERP becomes challenging.
We doubt there is any ERP system (Cloud or On Premise) on the market today that can offer the total functionality that is contained in a best of breed finance solution, capable of all your complex processes and calculations. What is needed in such instances is an Industrial Strength FMS embedded at the heart of your business systems landscape; for the Financial Services Sector in particular there is no better than Infor SunSystems. When combined with Infor OS, Infor’s digital transformation platform, you have a richly functional, robust Financial Management heart, with a platform that can combine and streamline all your specialist processes and platforms into one seamless solution.
We work with some of The City’s leading Financial Services institutions that benefit from the robust and in-depth functionality of Infor SunSystems, many of these are long-standing clients in the Lloyds insurance market, general insurance market, asset managers, investment managers, and pension funds.
To find out more about Infor SunSystems and how TouchstoneFMS can help your organisation implement an industrial strength financial management solution get in touch