Recently Microsoft® and their subsidiary Danger (a cloud computing service) sustained a major blow when their new Smartphone, Sidekick for T-Mobile, suffered a service outage causing an unknown number of users to lose all of their data.  While at first it appeared as though the data would be unrecoverable, Microsoft was apparently able to create a tool with which customers can restore their contacts, however they are continuing to work around the clock to help customers restore the rest of their data including photos, notes, and to do lists. With this recent scare, added to the list of growing cloud computing glitches including: two outages for Google Gmail in September; PayPal’s crash in August; and Window’s Azure in March, users are concerned about data safety.  

However, there are many advantages to using a hosted solution including web services integration, analytics, offline access, automated upgrades and real time reporting, to name a few. But there is good news! With Sage’s ‘Freedom of Choice’ option, you are able to move easily form hosted to on-site or even back to hosted again.  Choose from an on-premise implementation which includes front to back office integration, the ability to support a large number of users, off-line access, and a virtually limitless scope for customization, or a hosted implementation which provides a risk free application with predictable budgeting and a limited amount of necessary configuration – and the added benefit of the option to convert to a server at any time.

Tom O’Malley is the Managing Director of SystemLink Ireland. A qualified accountant, he operates as a one man consultancy, selling and supporting Sage Accpac ERP. He provides support for customers in Ireland, the UK, Italy and Africa.

With a diverse background and several different companies on his resume, Tom brings a lot of great experience to his business and clients. He started on the path of accounting when he worked for a life insurance company. While there he became qualified, earning his FCCA title which is equivalent to CPA in the U.S. He then went into the motor industry working for Fiat, “I had a lot of good fun in the motor industry,” he laughs. Eventually he found himself working for a mid-range IBM AS 400 software vendor. As he approached ‘forty-something’ he recalled something a friend had once said, “By the time you are 40 you should either be running the place or getting out of there!” And on that note he decided to start his own business. He reflects, “Some people say there’s a little bit of added pressure when you own your own business, and though that would be accurate, I’d have to say that the independence and challenge of making it work has been by far the best thing for me in my life.”

Setting up a similar business to the one he had been working for, but selling different products he began his journey of business ownership. About 5 years into it he started selling and supporting Sage Accpac and it was around that time that he went to an Accpac conference in Florida. It was there that he met Dave Beck, of SystemLink North America and they struck up a friendship. They eventually decided to partner together in order to collaborate their entities, which allows them to provide their services and support to more companies across the globe. Of this Dave Beck, President of SystemLink said, “We’ve been partners for a long time and really work well together. This relationship is mutually beneficial and we plan to continue it into the future.”

When he’s not working hard for his clients you’re likely to find him in the gym, or out fishing. He is also very fond of aviation, having once been a glider pilot but said, “I really enjoy air shows but you can’t get a decent air show in Ireland or the UK because it has been raining for the last 20 years!” When asked what he’s the most proud of he replied, “I’d have to say I am the most proud of my family. I have a daughter, Dara, 21 who is in her fourth year of nursing school at Trinity College in Dublin, and a son, Conor, 18 who is finishing up Secondary School.”

We are proud to announce that SystemLink has been accepted by Sage Software to be a part of the Sage Global Business Partner Program. Sage named only those business partners who display the highest level of expertise and possess the distinct capabilities required to deploy business solutions for international and multi-regional customers.

SystemLink is honored to be included in this elite program as it will allow us to tap into even more of the resources Sage has to offer. Additionally, it will allow us to provide our international customers with an even higher level of service.

The “Global Partner Program” which Sage has established operates under the following objectives:

1. Improve both the customer and channel partner experience for multi-regional business.
2. Identify resources and capabilities worldwide.
3. Enlist the help and participation of key Channel Partners to address Sage’s cross regional business; to provide support to Channel Partners in areas specific to multi-regional customers including multi-regional sales collateral and support.
4. Improve Sage delivery of coordinated sales and support to customer and prospects with operations in multiple regions.

As a Sage Global Business Partner, SystemLink has access to numerous Sage sponsored work groups regarding the Global Partner Program as well as access to online collaboration tools. In addition, SystemLink will assist in the development of a reference program specific to their global customers that involve case studies and customer participation; all in an effort to improve product offerings and service initiatives.

Protection is for everyone! In a recent article posted on Web CPA (click here to read the article), new COSO guidance emphasizes benefits for smaller companies. The article reminds us that when accelerated filers adopted the Committee of Sponsoring Organizations framework for their internal controls and compliance under the Sarbanes-Oxley Act, smaller companies began to follow suit. But many of them thought, “This is for the big guys.”

As a result, COSO came out with a framework of broad-based internal controls tailored to the needs of smaller public companies in 2006, and more recently, introduced its Guidance on Monitoring Internal Control Systems.

But what is Internal Control? The term comprises the plan and all of the coordinating methods adopted within a business to safeguard its assets, check the accuracy and reliability of its accounting data, promote operational efficiency, and encourage adherence to prescribed managerial policies.

This definition recognizes that a system of internal control extends beyond those matters which relate directly to the functions of the accounting and financial departments. Evaluating internal controls is one of Internal Auditing’s primary responsibilities. Such systems will protect the company’s assets, ensure records are accurate, promote operation efficiency and encourage others to adhere to policies.  

Who is responsible for internal controls? The auditors, right? Wrong. Everyone plays a part in your internal control system. Ultimately, it is management’s responsibility to ensure that controls are in place. That responsibility is delegated to each area of operation. Every employee has some responsibility for making this internal control system function. Therefore, all of your employees need to be aware of the concept and purpose of internal controls.

Over the last 10 years a large number of small and midsized businesses have implemented one or more generations of ERP systems to help manage their day-to-day business process. During this time there has been an increased demand for access to key information in order for businesses to make more informed decisions and improve their overall business health. This is where the term Business Intelligence (BI) was introduced. Over the next several months we will release a series of articles to introduce the key concepts and processes that every business should be aware of. We’ll also be linking those concepts to tools that will allow you to leverage them appropriately and recommendations on how to best implement them in your business.

First and foremost we want to start with what BI is. Business Intelligence is a broad category of applications and technologies for gathering, storing, analyzing, and providing access to data to help enterprise users make better business decisions. BI applications include the activities of decision support systems, query and reporting, online analytical processing, statistical analysis, forecasting, and data mining.

Business intelligence applications can be:

• Mission-critical and integral to an enterprise’s operations or occasionally used to meet a special requirement
• Enterprise-wide or local to one division, department, or project
• Centrally initiated or driven by user demand

The term Business Intelligence was coined as early as September 1996, when a Gartner Group report said:

“By 2000, Information Democracy will emerge in forward-thinking enterprises, with Business Intelligence information and applications available broadly to employees, consultants, customers, suppliers, and the public. The key to thriving in a competitive marketplace is staying ahead of the competition.” Making sound business decisions based on accurate and current information takes more than intuition. Data analysis, reporting, and query tools can help business users wade through a sea of data to synthesize valuable information from it – today these tools collectively fall into a category called “Business Intelligence.”

BI tools improve decision making abilities. According to Meridith Levinson in the January 15, 2006 cio.com article entitled Business intelligence: Not Just for Bosses Anymore, “Companies that use BI to uncover flawed business processes are in much better position to successfully compete than those companies that use BI merely to monitor what’s happening.” At the end of the day Business Intelligence is used to help companies monitor and analyze organization performance as well as plan for future success.

BI tools connect team members to key business information and simplify the process of collaborating and sharing information. In addition, businesses gain insight to the overall health of a business by analyzing their operations and improving the alignment of organizational goals with individual activities. In the end, companies are able to increase profitability based on revenue enhancements, expense reductions or both while improving customer and employee satisfaction. Not to mention, reduced organizational risk as a result of stronger internal control structures caused by increased monitoring of organizational results.

In our next BI article we’ll review the key terminologies, tools and technologies related to BI to help you gain a better understanding of what your options are.

The recent push to converge accounting standards globally has encountered some unexpected challenges, mostly in the U.S. and Europe. Proponents of the convergence argue that a global standard will increase transparency and consistency as well as cut costs for multinational firms by removing the need to comply with different systems, not to mention make it easier for investors to compare companies across the globe. However the cause has lost momentum in the last few months due to policymakers and politicians who are stressing national autonomy and/or seeking to water down key parts of the new rules. Additionally, if individual politicians are being pressured by outside interest groups it may be unlikely to ever agree.

The finance ministers from the G20 nations met in September in London, and then in Pittsburgh, PA to try to come together on the issues. The G20 nations account for around 85% of global income, and they seek to get the world’s economy back on track, and discover ways to avoid future economic meltdowns. At the most recent summit the group set a number of regulatory commitments for the financial industry including: increased capital standards; implementing international compensation standards; increasing regulation of the over-the-counter derivatives market; and creating more powerful tools to account for financial risks.

For more information on this subject, click on the following links:

http://tinyurl.com/intl-actg

http://www.ananova.com/business/story/sm_3502443.html?menu=business.reports.us