Archive for November, 2014

Prophix 11, Service Pack 3 is now available in Dubai – ask Synergy Software Systems

November 5th, 2014

I am delighted to announce the availability of Prophix 11, Service Pack 3 (SP3) This is the third major update to Prophix 11 since it was released, which saw the introduction of new capabilities to enhance your user experience including: Template Studio, Workflow Manager, Prophix Mobile, and a general interface refresh.

Prophix 11, SP3, brings new innovations in data visualization and several usability enhancements to further improve your productivity.
Key additions and changes in this release are:
• New Favorites Manager provides the ability for Administrators to easily manage all aspects of Favorites across the user base
• Template Studio now includes new data visualization capabilities
• Template Studio now highlights referenced cells using coloring when adding/editing cell formulas
• Maximize option in Account formula editor dialog
• Improvements to template cell auto formatting
• Fewer clicks required to enter a new cell comment
• Fewer clicks to preview a template in Template Studio design mode
• New Find option in Template Studio runtime (Data Entry or Report mode)
• New paste option in Template Studio design mode where the user can paste the conditional format from another cell
• Audit Log now tracks changes in Template Studio
• When saving a report to Excel, the visible flag on a Page Hierarchy Group is now honored
• Option to turn on or off the automated DP Post after a Detailed Planning workflow task submit action
• Detailed Planning Schedule “Update” button now accounts for all allocations and actions when posting to the “Finance cube”
• Workflow Project Status page remembers the chart you last viewed (either Activity flow or Gantt chart)
• Compatibility with SQL Server 2014

Please consult the release notes to review the full list of enhancements and changes.

Contact the Prophix Support team for any upgrade questions or inquiries at 0097143365589

Convergence Day 1 Barcelona – Synergy Software Systems

November 5th, 2014

More then 4000 participants from 71 countries learned that sunny Spain stops at Barcelona as the heavens opened up with monsoon like rain and it turned out the main hall was the other side of the exhibition centre. Fortunately this did not dampen spirits and the day got off to a visionary start with the opening address that showed how Microsoft’s breadth of platform and products enables personal professional productivity.

This was delivered by Kirill Tatarinov president of the Microsoft Business Solutions Division (MBS) who whose key theme was that today’s connected workforce is transforming business from the inside out.

Workplace productivity is changing and evolving in front of our eyes. A key statistic he cited is that next year, it’s estimated that almost 30 percent of the global workforce will be mobile and that it’s estimated that over 85 percent of organizations worldwide will have policies enabling their people to bring their own devices and use those for work.

As individual business people and teams work closer together, and organizations become more customer-focused, they need technology that will help them unite. Businesses are increasingly looking to the cloud to respond to these changes. 75 percent of enterprises already enjoy the benefits of the cloud. The Microsoft recipe for cloud success is rooted in the integration and interrelationships between cloud platform, cloud productivity and cloud Business Applications – and only Microsoft offers all three. Together, Azure, Office 365 and Dynamics Business Applications deliver cloud experiences businesses can count on.

Microsoft Dynamics CRM works seamlessly with Office and Power BI across mobile devices to help increase sales productivity, deliver smarter marketing, and boost customer loyalty. Advances in Dynamics CRM 2015 are designed to address the growing need for businesses to deliver great experiences to their customers by helping them to break down the barriers between divisions and to collaborate like never before.

Every day, twenty million businesses around the world trust the Microsoft Cloud – the only cloud provider that is certified by the European Union under the EU model clause – across all cloud services – Azure, Office 365 and Dynamics CRM Online.

Case studies featured JJ Foods, Ingram Micro, Kudelski Group and Onduline, who are transforming their businesses in unique and creative ways, harnessing the power of the cloud to gain competitive advantage through outstanding customer experiences and productivity improvements.

A view of the future today showed how Power Bi, CRM, Office 365, Bing search engine, predictive analytics, alerts to a wearable wrist device and a mobile phone assistant can all interact across a range of platforms :ipad, Surface, browser, desktop, mobile.

It was also a chance to catch up with several of our partners for specialist isv solutions and global collaboration.

Emily- CWR mobility for Dynamics CRM

I was particularly interested in a session involving Mike Ehrenberg – Microsoft CTO on the future of Dynamics Ax showing how predictive analytics could be used for constraint based inventory forecasting e.g. for daily sale of an item based on a nearby event detected by Bing, change in weather or temperature, prior sales history etc. It also gave a peek at the future Ax html client.

FATF guidance – risk based approach for banks – Synergy Software Systems

November 4th, 2014

The FATF has adopted guidance which will help in the design and implementation of the risk-based approach for the banking sector, taking into account national risk assessments and the national legal and regulatory framework.
The risk-based approach is an essential component of the effective implementation of the FATF Recommendations. Countries, competent authorities and reporting entities are expected to identify, assess and understand the money laundering / terrorist financing risks they are exposed to so that they can develop the risk-based measures to mitigate these risks.

Basel Core Principle
Element of Supervision

Principle 1 Responsibilities, objectives and powers:
An effective system of banking supervision has clear responsibilities and objectives for each authority
involved in the supervision of banks and banking groups. A suitable legal framework for banking supervision is in place to provide each responsible authority with the necessary legal powers to authorise banks, conduct ongoing supervision, address compliance with laws
and undertake timely corrective actions to address safety and soundness concerns.
Principle 2 Independence, accountability, resourcing and legal protection for
The supervisor possesses operational independence, transparent processes, sound governance, budgetary processes that do not undermine autonomy and adequate resources, and is accountable
for the discharge of its duties and use of its resources. The legal framework for banking supervision includes legal protection for the supervisor.
Principle 3 Cooperation and collaboration:
Laws, regulations or other arrangements provide a framework for cooperation and collaboration
with relevant domestic authorities and foreign supervisors. These arrangements reflect the need to protect confidential information.
Principle 5 Licensing criteria:
The licensing authority has the power to set criteria and reject applications for establishments that do not meet the criteria. At a minimum, the licensing process consists of an assessment of the ownership structure and governance (including the fitness and propriety of Board members and senior management) of the bank and its wider group, and its strategic and operating plan, internal controls, risk management and projected financial condition (including capital base). Where the proposed owner or parent organisation is a foreign bank, the prior consent of its home supervisor is obtained.

Talk to us to find out how BRSAnalytics can help you clearly demonstrate effective robust management of governance and compliance.

Leverage Ratio Standards for Kuwaiti banks

November 4th, 2014

Mohammad Y. Al-Hashel, Governor of the Central Bank of Kuwait (CBK) recently announced that CBK’s Board of Directors has approved the instructions for implementing the Leverage Ratio Standards to Kuwaiti banks, both conventional and Islamic.

The implementation of the Leverage Ratio Standards comes within the framework of the CBK’s measures to fully apply the International regulatory framework for banks (Basel III) reforms and guidelines. It also aims to keep abreast of the developments in field of banks control,Al-Hashel reiterated that the CBK is firmly committed to complete implementing Basel III reforms and guidelines
The leverage ratio is the proportion of debts that a bank has compared to its equity/capital.

The Governor pointed out that the CBK, through the new instructions, seeks to curb the accumulation of leverage ratio in the banking sector which could put pressures on the financial system or the whole economy. It also aims to boost capital adequacy requirements.

Under the new instructions, a Banks’ leverage ratio should not exceed three percent. The new instruction is effective 31 December 2014.
The CBK is moving forward toward accomplishing the other standards of Basel III set of reforms, liquidity ratios standards, according to a well-planned schedule and taking into consideration the comprehensive quantitative impact study (QIS) outcomes, The Governor said that final Basel III Leverage ratio standard instructions are now published on the CBK website for those interested in the banking and financial business.

“Basel III” is a comprehensive set of reform measures, developed by the Basel Committee on Banking Supervision, to strengthen the regulation, supervision and risk management of the banking sector. These measures aim to: improve the banking sector’s ability to absorb shocks arising from financial and economic stress, whatever the source; improve risk management and governance; strengthen banks’ transparency and disclosure”s.

AxPact CEO conference Barcelona- Great day! Happy 10th Birthday

November 3rd, 2014

A great AxPact CEO conference – thanks to the committee who had prepared an informative agenda, that triggered lively discussion. The day was enhanced by 3 excellent guest speakers:
Frank Vukovits – AXUG’s Director of Programming introduced AXUG and the potential benefits. (Thanks to Stephen Wilson for organizing this).

Mike Ehrenberg – Microsoft CTO joined us after lunch to explain the future of AX joined by Dan Brown. Some great new technical features leveraging dot net and Azure. that brought a lot of smiles from the knowledgeable audience. Thanks to Nico Tissink for organizing this.)

Keith Dunkinson, Business Development Director for AxPact led a lively discussion on global projects and the sharing of real world experience of the seasoned Ax professionals in the room is what AxPact is all about.

Committee member Stephen Wilson (eBecs) finished the day by leading a discussion near to the heart of all Ax practise management-staff recruitment, development and retention in a rapidly growing market for Ax .

All in all, a very productive day – hats off to the committee and I am looking forward to tonight’s 10th anniversary dinner when I am sure those present will show the same comradeship, and that they not only work hard, but also play hard!

Note the new logos

Microsoft Convergence Barcelona 2014 – Synergy Software Systems

November 2nd, 2014

I will be in Barcelona all week, first for the Ax Pact CEO conference, then for Convergence.
This has been an interesting year for Microsoft with management changes, wholesale redundancies, major profit growth, significant new product acquisitions, a clearer corporate strategy, huge advances in Office 365, Azure , mobility, social media, BO, and major new releases of Dynamics Ax and CRM so there is much to be learned about the road ahead

For Synergy Software Systems it is chance to meet up with global partners and Senior Microsoft managers, and to stay in the vanguard of the product road map. Our membership of the Microsoft council Ax Pact, System Advisors Global and other international alliances is a a major benefit to our clients when planning their forward strategy.

Watch this space for convention news.
Yoshijima Ryohei CEO of our Japanese partner at the Temple of the Sacred Family before work starts in earnest tomorrow.