Archive for September, 2016

Why the ‘cloud’? What is a hybrid cloud? Ask Synergy Software Systems, Dubai

September 19th, 2016

Buy or rent?. On premise or SaaS.? The answer to the questions, for enterprise computing, goes in cycles. When mainframe computing was at its peak, many organizations did not own such expensive machines outright and many companies rented processing time on these machines when needed, an arrangement known as time-sharing.
Moore’s law changed that. The era of mini — and then micro — computing made processing power so cheap that many organizations chose to own. As enterprise computing infrastructures became more complex, and the cost and difficulty of finding expert IT staff increases, so renting or subscription as it now called, has come back into vogue once more, in the form of Software-as-a-Service (SaaS) and cloud computing

The terms “cloud” and “data center” may sound like interchangeable technical jargon or trendy buzz words. A data centre is ideal for those companies that need a customized, dedicated system that gives them full control over their data and equipment. Typically those with many integrations, and uncertain internet connections, and an internal IT team will consider this route. Since only the one company will be using the infrastructure’s power, a data centre is suitable for organizations that run many different types of applications and complex workloads.

A data centre, however, has limited capacity — once you build a data centre, you will not be able to instantly change the amount of storage, or processing power to accommodate for example significant changes in workload and data processing. On the other hand, a cloud system is scalable to your business needs. It has potentially unlimited capacity, based on your vendor’s offerings and service plans. When you are looking at big data processing for predictive analytics, of have high day end or seasonal workloads, then the ability to ramp up and down is important to avoid oversizing. For project based companies both the number of user licences required, and the processing power may vary from year to year. For a rapidly expanding company hardware and server room expansion and management is a challenge on premise.

In a recent IDC (International Data Corporation) Multi-Client Study, CloudView 2016) respondents to the survey said that they expect to increase their cloud spending by approximately 44% over the next two years, and 70% of heavy cloud users are thinking in terms of a “hybrid” cloud strategy.

The idea of a hybrid cloud is to get the best of on-premise deployment by leveraging cloud services. Some work is done on premise, some on the cloud e.g. BI or payment gateway. A combination of both public and private platforms, a hybrid cloud is meant to provide organizations with greater IT and infrastructure flexibility, as well as visibility and control over their cloud usage. The result should be that a, hybrid cloud enables business agility, including streamlined operations and improved cost management.

Sounds good but what does it all mean and what are the challenges? First let’s review some of the basics concepts.

Public Cloud
A public cloud is one in which the services and infrastructure are provided off-site, over the Internet. Data centre hardware is not owned by clients and so you face no capital expenses. Instead, providers sell hosting as a ‘utility’ or rental service. Providers offer maintenance, disaster recovery and backup, however basic this may be. This is typically a multi-tenant software solution. Individual company data sits in separate blocks in a common clustered hardware. Data for individual organisations is kept separate and protected with robust security. Breaches of data with a reliable provider are rare. However, some security standards are not suitable for very sensitive data, rigorous audit trails or industry-specific compliance.

A Public cloud is y used to host web servers or develop applications. It is attractive to small and mid-sized enterprises (SMEs) when they are happy to use out-of-the-box menu specifications. Virtual machines are configured quickly – often within hours. Some SaaS (Software as a Service) services are placed within a public cloud when they have high levels of built-in security.

Private Cloud
A private cloud is one in which the services and infrastructure are maintained on a private network. It operates on an isolated network and is extremely secure. It keeps data behind a firewall and is built either on-premise or in a ring-fenced section of a data centre. A Private cloud is a single tenant solution, with the hardware accessed by one, or multiple businesses. It’s an ideal solution for enterprise organisations or specialist firms with high levels of security and compliance. Clients generally maintain their own cloud system and own their hardware.

Security and compliance on private cloud is configured to meet compliance standards. Private cloud systems cost much more than public cloud and re-configuring is more complex and lengthy.

Hybrid Cloud
Hybrid cloud uses public and private cloud for different elements of computing. Only some elements will require high security and customisation but others will not. Hybrid cloud offers private cloud for sensitive data but keeps non-sensitive, generic data (e.g. customer literature) in a cheaper public cloud environment. Hybrid cloud is usually hosted by different cloud providers – one for public and one for private. Hybrid cloud benefits companies who experience seasonal spikes so extra computing power is deployed quickly and cheaply in public cloud while keeping sensitive information in its private cloud.

A Hybrid cloud is the biggest growth area in cloud computing for enterprise businesses. As servers become ‘smarter’, hybrid cloud is estimated to represent 75% of future enterprise cloud computing.

A Hybrid cloud does not mean failover to onsite, for which a failover solution or a clustered install is needed and the failover can be to any other site whether local, remote or on cloud. Nor does hybrid mean offline working on premise option.

IBM’s Institute for Business Value (IBV) polled more than 1,000 C-level executives to reveal that 78% of respondents deploy a cloud initiative that is fully integrated or coordinated — an increase from 34% in 2012. Enterprises may be embracing the cloud, but they are not yet fully invested in a cloud-only strategy. Across 18 industries, 45% of workloads are expected to remain on-premise in the near future.

A hybrid cloud deployment is a collaboration of public cloud, private cloud and traditional IT platforms that allow enterprises to customize a cloud solution that meets the particular needs of their company. The top motivating factors for adopting hybrid cloud solutions, according to the IBM study, include lowering the total cost of ownership, facilitating innovation, improving efficiency and meeting customer expectations.

Among the companies that embrace cloud computing, 76% responded that they were able to expand into new industries, 71% created new revenue sources and 69% supported new business models.

Security remains a concern, however, and has become a hurdle for companies and a deterrent from fully investing in the cloud. Nearly half of respondents expressed that security and compliance risks are a challenge in IBM’s study, while 41% of respondents expressed that the cost of the cloud was a deterrent and 38% feared a disruption to company operations by introducing a new cloud solution.

When survey respondents are segmented by performance, IBM concludes that twice as many high performers have fully integrated their cloud initiatives compared to low performers.

Nati Shalom, recently discussed in his post Achieving Hybrid Cloud Without Compromising On The Least Common Denominator, a survey that demonstrates that enterprises these days are often leveraging as many as six clouds simultaneously, and the list just keeps on growing with new technologies sprouting up by the minute. IT markets are not just moving to the cloud — they are moving to ‘clouds’,” said Ed Anderson, research vice president and Sid Nag, research director at Gartner in their report: “Market Trends: Cloud Adoption Trends Favor Public Cloud With a Hybrid Twist,” published August 4, 2016. “Evidence is mounting that as organizations mature in their usage of cloud services they are opting to use multiple cloud services, bound together through hybrid implementations.”

That’s why solutions like the Azure Stack, that are also geared towards multi-cloud scenerios in the context of app migration to the cloud from traditional data centers, especially while taking all of the enterprise-grade considerations involved in such a transition into account, are critical.

Many solutions don’t provide the extensibility and interoperability that enterprises need for future-proofing, application deployment portability among other popular use cases across clouds. Hybrid cloud itself has also has proven that it isn’t immune to future proofing with disruptive technologies arising every day

Azure users now have a set of building blocks for managing the entire application stack and its lifecycle, across clouds, stacks and technologies. And with Microsoft now having the most open source developers on GitHub, yup – ahead of Facebook, Angular, and even Docker – Azure is uniquely positioned to achieve this level of openness and interoperability.
This will also ultimately provide a higher degree of flexibility that allows users to define their own level of abstraction per use case or application. In this manner, cloud portability is achievable without the need to change the underlying code, enabling true hybrid cloud.

Fifty-five percent of CIOs surveyed by Gartner indicated that by 2020 they will structure more than half of their applications as SaaS or manage them in a public cloud infrastructure. To manage and govern public, private and hybrid cloud services requires a focus on cloud management. This, in turn, requires new roles, processes and technologies.

Key Employee roles for the Hybrid cloud
Database professionals to filter out business critical data from the data overload we have today. A Big Data Foundationprofessional will be familiar with – Hadoop and MongoDB.
Software developers no longer just push code, they are pivotal to the user experience and thus the user adoption of cloud solutions.
Information security managers must appreciate the risks involved with business data and discuss this across the organization (at all levels) to align key stakeholders in positions to invest in and implement security measures.
Enterprise architects. Today solution architects, need the skills to adapt to cloud computing and hybrid cloud environments. Companies want to avoid working with ad hoc systems implementations, and architects who understand cloud computing and all its service models are in high demand. to design a scalable and sustainable cloud infrastructure which optimizes the use of private and public cloud.
Business managers working in the cloud need to understand how the technical infrastructure supports the business strategy get the benefits of cloud computing to drive their objectives.

Microsoft’s Hybrid cloud blog:

If you are considering how the cloud can benefit your business then contact us to explore the many options.

Find out out about the new integrated Dynamics 365 offerings. e.g.
Ask about specific vertical solutions like Synergy MMS for hotel facility management, or 7 Medical HIS and imaging solutions
Host your applications in a secure managed cloud – with both fixed price or based on use billing.
Monitor your on site global networks with cloud based monitoring systems.
Use Cortana Analytics and Power BI to turn data into information.
Back up to the cloud.
Skype Business
and much, much more.

Dynamics Ax – Post Implementation reviews, audits, health checks, performance tuning.

September 14th, 2016

Synergy regularly undertakes reviews of Dynamics Ax projects, often to turnaround failing projects.

One of the benefits of a Dynamics AX Health Check service by Synergy Software Systems is that as an experienced and multi certified partner partner we see many different clients. Our long term relationships with Microsoft -since 1993 – and 14 years of working with Dynamics Ax -since v 2.5 Axapta gives us depth of relevant experience. We’re also on top of how Dynamics AX interacts with the Microsoft stack technology and we can leverage that experience and for our clients

We’ve of course see a wide variety of issues and situations but there are many common issues we can quickly pinpoint which means we can usually deliver quick wins.

As a consultant with more than 12 years of AX experience, and 30 plus years of erp experience across more than 40 countries I’ve come across many operational and technical challenges, that other people haven’t had the time or the opportunity to see. I spent my first year in consultancy devising a suite of audit methodologies, tools and checklists, and for several years was kept fully occupied with reviews of global company erp systems. So there are things that I would know to check in your system that may not be obvious and often a minor configuration policy change has significant impact on how a system per4forms in support of a business process.

Setting the standard

How do you know whether your system is running well, or as well as it should do? Who or what are you comparing against?
A consultant performing a Health Check will explore things like:
◾Are your batches running appropriately?
◾Have you allocated enough resources to that have?
◾Have you looked at your security within AX?
◾Have you looked at your event logs to see what is happening?
◾How are you deploying code?
◾ Are your licenses appropriate
◾ Is your system patching up to date
◾ What maintenance routines are in place?
◾ Are initial default settings no longer appropriate as the numbers of users or transactions and history data increases?
◾ Are there unused system features?
◾ Is there timely month end close?
◾ Does financial data reconcile tot he sub ledgers?
and much, much more.

What don’t you know?

There are many different areas that are reviewed during your Dynamics AX Health Check and it is meant to be more of an overall system-wide analysis, not just how is SQL doing or what are your queries doing?

All companies change over time, they open new branches, their staff changes, their customer base and products evolve. The regulatory and statutory requirements change, and technology offers new ways of working.

With a Health Check, another set of eyes will review and recommend. Sometime you are so close to a problem you can live with it and not notice how it is deteriorating.

Identify performance and operational risks, downtime. The true value of a Dynamics AX Health Check by an experienced resource is the potential for increased productivity from your team and a system that operates at maximum performance.

Learn more about a Dynamics AX Health Check or Performance review for your company.

Financial challenges -new regulatory requirements

September 7th, 2016

Financial institutions in particular are affected by several new standards issued by the IASB and FASB that require replacing the current incurred-loss models with expected-loss accounting for financial instruments. It’s one of the most significant rules changes in financial standards..

It’s a lot of work for a company’s lean financial reporting group to adopt on top of VAT introduction within the next 12 months. Most companies are behind schedule with plans to adopt the new revenue recognition standards despite a one-year delay in the effective date that FASB and the IASB announced last year. This is a concern because many will need systems change and as well as process re-engineering and staff retraining.

Most companies have competing priorities. Number one, they’re trying to run a business Theyhave the annual reporting period and the quarterly reporting periods, month end close, budget cycles, and financial auditors etc. to cope with. Meanwhile with a tough economy collections and cash management are immediate priorities. Many are constrained by human resources, or lack financial resources. This is where proven systems, built on familiar platforms, and cloud based can reduce up front implementation and support costs and reduce the dependency on acquiring expertise that is in short supply.

So many companies and their leaders, particularly the CFO are somewhat overwhelmed right now. Economic uncertainty and disruptive changes to technology and business models require agile business with dynamic forecasting and frequent rebudgetting, micro cost control in a world of ever stricter compliance. Flexible systems with automated processes are essential.

First things first. Revenue recognition is a standard whose implementation date is coming up first, and for many companies, it may be the most challenging of the three standards to implement. Start and more important finish your revenue recognition assessment. This is a process that while led by i finance should also involve process-focused and IT-focused personnel so that a company can come to a conclusion collectively on what changes need to be made to systems and processes.
By year end affected companies need to finish that process of collecting the information and need to design the changes they need to their systems and processes. That will give them 6- 12 months to design and implement those systems and processes.
Tax The new revenue recognition rules and the introduction of VAT will require tax-compliance processes, which may also need a review of transfer pricing.
Examine your current lease structure.
As companies begin their lease accounting implementation, they need a project plan. based on an understanding of what is the current lease environment], a centralized FA system, or subsidiaries that may maintain multiple [systems] that have to be aggregated? What is the level of data in the system?

Companies generally are not having much trouble identifying contracts and collecting data from their real estate portfolios because real estate usually involves large sums of currency managed under an existing system,.
But the data being captured for real estate leasing often don’t incorporate the terms or data needed to help account for the leases in the future. Leases for items such as copiers, computers, equipment, and auto fleets often are managed offline in a spreadsheet, Chances are, there are terms in the lease contract that aren’t being captured in current systems
As a result, extracting data from lease contracts can be a challenge.

Be mindful of debt covenants.
The lease accounting standard will bring new liabilities onto company balance sheets, it has the potential to affect debt covenants that may be based on debt-to-equity ratios. Bankers may seek to adjust debt covenants to allow for the reduction in net-worth ratios. Companies should have a discussion with their bankers as soon as possible about the impact of the standard on the balance sheet.

Multinationals may have dual solution to credit losses. The expected credit loss standards in IFRS 9, Financial Instruments, and FASB’s recently issued standards are not converged and use different models to measure impairment.
IFRS 9 takes effect for annual periods beginning on or after Jan. 1, 2018; for SEC filers, FASB’s expected credit loss standard will take effect for fiscal years and interim periods within those fiscal years beginning after Dec. 15, 2019.

Multinational banks may wish to expedite their assessment of the FASB standard to take advantage of work they are already doing for the IASB implementation, The costs of regulatory compliance with Basel II and Basel III and FATCA etc. are very high for this whole sector, and where they can find efficiencies and scalability, I would think that’s in the interest of the banks.

Potential efficiencies may cause banks to adopt the FASB standard early, but they won’t be able to begin reporting under the standards at the same time. FASB’s early adoption period begins for fiscal years and interim periods beginning after Dec. 15, 2018—nearly a year after the IASB standard is required to be adopted.

CPM and Reporting tools, workflows, and automation, are going to be increasingly important.

Fast accurate year end close, streamlined budgets, Prophix CPM with dynamics Ax webinar

September 7th, 2016

Stop relying on spreadsheets and start automating your budgeting, forecasting, and reporting. It is time to take your Dynamics ERP to the next level with a CPM (Corporate Performance Management) solution. Visualize real-time data to track your business’s performance in real-time.

Join this webinar to learn how your role in Finance can make better sense of the abundance of data from Dynamics and all other data sources (ex. CRM, HR System, etc.) to have a faster year end close and offer valuable insight into your company to make strategic decisions that boost financial performance.

The webinar will explore:

-How to integrate Dynamics and all other data sources
-How to supercharge Dynamics NAV/GP/AX with advanced budgeting, reporting and forecasting
-How to save time, money and resources by automating your budgeting process
-How to close out your year-end faster

See a live demo of Prophix CPM software in action.

Suprecharge Ax financial year end close with Prophix

Dynamics CRM and AdxStudio from Synergy Software Systems, Dubai

September 5th, 2016

Adx Studio overview
Adxstudio Portals supercharges Dynamics® CRM into an interactive, web-based sales, services, support and social engagement application platform.
Transform your customer web experience with Adxstudio Portals.
Learn how Adxstudio Portals can help extend your Microsoft Dynamics CRM to the web with powerful, easy-to-build, self-service portals for retail, government, vendors, partners, conferences, and much more.

– Build Powerful, Secure, Self-Service Portals
– Create Content Rich Websites Published with Integrated CMS
– Optimized for Desktop, Tablet and Mobile Devices

FASB Revenue recognition changes – will it affect USA companies operating in the GCC?

September 4th, 2016

Many companies are considering how the pending introduction of VAT in both KSA and the UAE will affect their financial processes and systems. Another equally significant development to bear in mind when looking at your financial systems is that in May this year it was the second anniversary of the publication of the landmark revenue recognition standard. U.S. companies and their auditors have a lot of work to do before it goes into effect.

Revenue is a critical financial measure for businesses and their stakeholders. Company management, shareholders, lenders, analysts, investors, and regulators use revenue to monitor a company’s financial performance and general financial health. Revenue may also affect, among other things, an entity’s ability to attract investors and borrow money, and is also often used as a basis for determining certain employee compensation and benefits, like commissions, bonuses, and stock-based compensation. Anticipated revenue may also influence an entity’s tax-planning strategies.

The new, converged revenue recognition standard that’s in the final stages of development by FASB and the International Accounting Standards Board is expected to lead to at least some changes in financial reporting for virtually all entities that use U.S. GAAP or IFRS. Here’s an overview of what’s happened over the last two years—and the details that still need to be worked out. Expect to see a lot more demand for reports and BI.As companies move to the new standard, their
compliance risk is likely to increase unless they have a well-planned, comprehensive approach to adoption.

The implications of the new standard are far broader than simply changing accounting and reporting methods, although that change itself is highly complex. Because so many parts of a business are tied to revenue, the new guidance will have a pervasive organizational impact, affecting such areas as executive and sales compensation, debt covenants, taxes, and even product offerings and how products are sold. Systems and processes will need to change to accommodate the new standard, and an entire education and training program will be essential to retooling the organization to meet the standard’s requirements. Communications with outside stakeholders, including suppliers, customers, and to investors will be an important part of the transition. None of this can happen overnight. This transition is complicated and difficult, and
organizational leadership will need to be involved.

At its core, the guidance seems simple enough it and requires that an entity should recognize revenue to show the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.

Just 37% of more than 140 companies surveyed by KPMG LLP said they are on the right track in their implementation of the new revenue recognition standard issued by FASB and the International Accounting Standards Board (IASB), which takes effect at the beginning of 2018 for public companies.

Meanwhile, new lease accounting requirements have companies attempting a challenging process of locating all their lease agreements and extracting data points from them that haven’t been necessary for accounting in the past. This is a challenge because more than two-thirds (68%) of companies surveyed by PwC and commercial real estate services and investment firm CBRE have used spreadsheets as their primary system for tracking leases, and 84% currently abstract key terms from their lease agreements manually. -Major changes ahead.

In 2014, the Financial Accounting Standards Board (FASB) published Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers (Topic 606), which will supersede the previous hodgepodge of revenue recognition requirements. Under the new rules, companies worldwide will follow a single set of principles for reporting revenue from customer contracts.
The principles-based guidance will require companies to follow five steps when deciding how and when to recognize revenues:
1. Identify a contract with a customer
2. Separate the contract’s commitments
3. Determine the transaction price
4. Allocate a price to each promise
5. Recognize revenue when or as the company transfers the promised good or service to the customer, depending on the type of contract

In some cases, the updated guidance will result in earlier revenue recognition than in current practice. This is because the new standard will require companies to estimate the effects of sales incentives, discounts and warranties. The breadth of change that will be experienced depends on the industry. Companies that currently follow specific industry-based GAAP, such as software, real estate, asset management and wireless carrier companies, will feel the biggest changes. The new rules also provide guidance for transactions that weren’t addressed completely, such as service revenue and contract modifications.

Existing compensation arrangements may not contemplate the new standard, and the effects of the standard on compensation arrangements differ by industry and the individual company. The new standard could result in earlier recognition of revenue, which could lead to higher commissions or bonuses—one reason companies may need to include human resources in their discussions as they implement the standard

Nearly all companies will be affected by the expanded disclosure requirements. The new rules call for detailed footnote disclosures that break down revenues by product lines, geographic markets, contract length, services and physical goods.
Exceptions to the new rules include: insurance contracts, leases, financial instruments, guarantees and nonmonetary exchanges between entities in the same line of business to facilitate sales. These transactions remain within the scope of existing industry-specific GAAP.

Implementation challenges
In April 2015, the FASB decided to delay implementation of the converged revenue recognition standard by a year. The effective date was originally set for 2017, but many companies told the FASB that they needed more time to implement the new guidance because of the breadth of change and importance of revenue in a financial statement.
. Foreign companies are generally more familiar with the principles-based accounting employed by the new revenue standard.

To help facilitate the implementation processes, the FASB and IASB established the joint Transition Resource Group (TRG) for revenue recognition.

Principal vs. agent considerations

Some recent clarifications of the revenue recognition standard relate to principal vs. agent determinations. TRG members were particularly concerned with sales where a principal supplier can’t immediately recognize a sale because it’s dependent upon the agent for setting the price when the sale is made or contract signed.

These discussions resulted in the publication of ASU No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net), in March 2016. The amendments apply to sales that involve two or more suppliers to a customer, where one supplier controls the good or service being sold and the other supplier or suppliers are agents and collect fees or commissions for arranging the sales. Examples include 1) online sales in which a business maintains a website from which consumers may purchase goods from multiple suppliers, and 2) custom orders that a supplier outsources to a contract manufacturer to make the product.

The revised guidance clarifies how a business determines whether it is a principal or an agent. Sellers must identify the good or service being sold and their role in the sale. In doing so, they should focus on the good or service being sold and not the promise to transfer the good or service, or what the board calls a “performance obligation,” in part because stressing the promise related to the sale would be confusing for an agent.

Work in progress

The FASB is currently drafting proposals to clarify the “collectability” threshold contained in the revenue recognition standard and provide a practical expedient for footnote disclosures on royalties received for licenses of intellectual property and variable payments connected to individual commitments in customer contracts.

Other issues include:
Contract modifications. The FASB’s staff contends that an asset from a modified contract should be carried forward after the contract has been adjusted. It disagrees with an alternative interpretation that calls for writing off the asset when the contract is modified.
Loan servicing agreements. The FASB’s staff says these agreements aren’t covered by the new revenue recognition standard. Instead, they should be accounted for under Accounting Standards Codification Subtopic 860-50, Transfers and Servicing — Servicing Assets and Liabilities.
Transfer of control. The FASB’s staff believes that control of a good or service for a contract that’s satisfied over a period of time doesn’t transfer to the customer at discrete points in time.
Accounting for customer options and incentives.

Recent clarifications

– Permits an entity, as an accounting policy election, to exclude amounts collected from customers for all sales (and other similar) taxes from the transaction price.
– Specifies that the measurement date for noncash consideration is contract inception and clarifies that the variable consideration guidance applies only to variability resulting from reasons other than the form of the consideration.
– Provides a practical expedient that permits an entity to reflect the aggregate effect of all modifications that occur before the beginning of the earliest period presented in accordance with the standard when identifying the satisfied and unsatisfied performance obligations, determining the transaction price, and allocating the transaction price to the satisfied and unsatisfied performance obligations.
– Clarifies that a completed contract for the purposes of transition is a contract for which all (or substantially all) of the revenue was recognized under legacy GAAP before the date of initial application.
– Permits an entity to apply the modified retrospective transition method either to all contracts or only to contracts that are not completed contracts.
– Clarifies that an entity that retrospectively applies the guidance in the standard to each prior reporting period is not required to disclose the effect of the accounting change for the periods of adoption. But an entity is still required to disclose the effect of the changes on any prior periods retrospectively adjusted.

Implementation of the new revenue recognition standard will require significant effort by U.S. companies, including: analyzing customer contracts, designing and installing new financial reporting systems, and upgrading financial reporting controls to deter fraud.

How to identify performance obligations and licenses
On April 14, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) No. 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing.

The amendments simplify and lower the cost of applying the guidance for identifying a performance obligation and make it easier to understand the implementation of the revenue standard’s licensing guidance. The amendments clarify how to determine whether goods or services are distinct performance obligations. They also provide an exception for goods and services that are immaterial in the context of a contract. Additionally, the updated rules allow companies to account for shipping and handling that takes place after the customer has gained control of the goods as an action to fulfill the contract rather than a separate service. The clarification to the licensing guidance is intended to make it easier to account for intellectual property that’s considered functional such as:
• software for a business process
• media content that can be played or aired
• symbolic e.g. a trademark for which an organization can purchase the rights.
The nature of the intellectual property determines how it should be accounted for under the revised guidance.

During the transition to the new standards , companies will need to present their financials using both the current and new standard. This places a significant burden on finance staff—especially since much of the work done to reconcile the revenue accounting for bundled contracts is done manually via spreadsheets, a process that is both time-consuming and subject to
human error. Simply throwing more bodies at the problem may not be practical in the long run. Companies will likely
need technology solutions that can reduce the amount of manual calculation involved in accounting for revenue and related costs.
For many companies these are now urgent requirements:
• Flexible, dimensional multi-company COA -Dynamics Ax, Sunstems
• A strong integrated Project Accounting module – Dynamics Ax
• Financial management reporting tool. with drilldown to transaction Dynamics Ax Management reporter, Prophix CPM, Infor Vison Q@A, Power Bi, BI4Dynamics
• Detailed audit trail of financial transactions,
• Workflow approvals, case management, Alerts, – Dynamics Ax
• Dashboards and kip monitoring -Dynamics Ax


Dynamics CRM for Healthcare in U.A.E. – see our 7Medical HIS Systems – Synergy Software Systems Dubai

September 3rd, 2016

A Microsoft Dynamics CRM based solution that is extended with over 7000 objects specifically for HIS in our 7 Medical Systems solution provides the best experience and engagement for medical professionals. and for their patients.

Working with HIS systems typically requires either lots of manual duplication of data, and manual work flow processes, or integration of many systems. Middleware tools are very expensive. Our experience is that a custom-built integration for the specific set of HIS solutions is the best and most effective way to connect people and processes. Microsoft Dynamics CRM with 7 Medical systems will ensure the data points and information are integrated and available, and the rules around data integrity are enforced as required in each organization. We provide an in built integration platform.

The solution scales whether for a single clinic, or department, or for a chain of hospitals,

Built with xRM so you also leverage all the great features of Microsoft Dynamics CRM -social media monitoring, marketing, case management, relationship management, pipeline management, analytics, and much, much, more.

We also offer a superb, integrated imaging storage solution

Simple monthly per user cloud pricing , no up front license or server costs. Any time anywhere, any device access – improve collaboration across the medical professionals involved involved business processes.

Extend and integrate your HIS systems into a common front end with a proven solution. to reduce costs, increase revenue and to enhance customer care.

Implemented and supported locally by a partner awarded “Highest Customer Satisfaction” by Microsoft.
Contact Synergy Software Systems 0097143365589 ask for Wison.

Budget time – automate the process with Prophix

September 1st, 2016

Automation Makes Your Budgeting Easier

Eliminate the frustration that comes with relying on spreadsheets to create budgets and increase accuracy, consistency, and timeliness.

Prophix will show you how you can tap into the power of Corporate Performance Management (CPM) software in this fast-paced session, featuring best practices and real-life examples of Finance professionals just like you.

Implemented and supported by Synergy Software Systems the Certified Partner for the Middle East.

Call us on 09714 3365589 to learn more.