Finance professionals need to embrace new business models in preparation for the upturn, says Sage Software

Published December 8th, 2009 - 03:47 GMT


Management accounting and finance professionals need to embrace new business models and leverage technology-driven solutions amidst current business cycles in preparation for the upturn, according to Sage Software, the leading global supplier of ERP, CRM, and HRM solutions to small, medium and large organisations. The company recently extended its support to the Institute of Management Accountants (IMA) Dubai - UAE Chapter in equipping professionals to become more adept in addressing the post recession requirements of the market during IMA’s first members’ event, which was held at the Arjan Rotana Hotel in Dubai Media City. Participating as a sponsor, Sage Software’s presence at the event has underlined its commitment to become the most admired and respected business software and services provider in the world.


In addition, Vikram Suri, Managing Director, Sage Software - Middle East, delivered a talk during the event, where he underlined the importance of beginning the preparations now rather than later, starting with the adaptation of business to the new reality of the market and customers’ post-recession expectations. He also enumerated the important factors to consider in preparation for the upturn, which include accurate business planning, focused sales management, targeted marketing effectiveness, and exceptional customer service.


“According to the latest report from the Organisation for Economic Co-operation and Development, the global recession is nearing the bottom, with its 30 advanced economy members expected to see growth of 0.7 per cent in 2010. However, the return of the growth period will not bring a ‘business as usual’ atmosphere despite the positive projections related to recovery, as companies will have to work smarter and harder for every bit of revenue they generate,” said Suri. “Consequently, management accounting and finance professionals should be well equipped to deal with the demands of the market by embracing new business models and technology-driven solutions, which are in tune with the changes brought by the crisis. The event was an important forum to encourage the development of their capabilities and qualifications, and we are proud to support this initiative.”


The event gathered influential guests with a wealth of knowledge and learning related to Certified Management Accountant (CMA) certification, a comprehensive credentialing program that assesses mastery of management accounting and financial management, which is being granted and upheld by IMA. In addition to Suri, other speakers at the event included IMA President and CEO Jeffry C. Thomson, who addressed the role of CMA in this economic climate and how management accountants can strategically position themselves for the future. Further, Fadi Ganni, CEO of Morgan International, talked about the importance and benefits of certification and professional development to the attendees. All IMA members who were present were able to earn CPE credits to their names.

Offering a full suite of Enterprise Resource Planning (ERP) and Customer Relationship Management (CRM) solutions, Sage Software allows management accounting and finance professionals leverage high-technology applications to streamline their workflow and become more effective. It offers ‘Sage ERP X3’, a highly scalable, affordable, easy-to-use and quick-to-install integrated ERP solution, which is suitable to cope with multiple government legislation, currencies and languages while offering local customisation and multiple platform options. The company also provides ‘Sage CRM’ - a convenient on-site solution that allows enterprise-wide access to vital customer information.


“By offering our industry-leading solutions, we are working towards becoming a strategic partner among many regional organisations by helping them get to a prime position where they can maximise the opportunities as the economy recovers. In line with this, we are exploring how we can work with the IMA Dubai - UAE Chapter to help management accountants become more adept in addressing the requirements of the market post-recession. In addition, we are also working on how we can provide special deals on Sage solutions to IMA members,” concluded Suri.


IMA aims to provide a dynamic forum for management accounting and finance professionals to develop and advance their careers through certification, research and practice development, education and networking. With a network of about 60,000 professionals, the Institute’s members are dedicated to continued professional development, to achieving the highest levels of professional certification, and to supporting each other in their commitment to professional excellence. Through its Certified Management Accountant (CMA) program, IMA provides cutting-edge professional research and practice development education, networking, and the advocacy of the highest ethical and professional management accounting practices.


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