ERP (and other) Implementation Nightmares: How to Recognize Them; How to Fix Them; How to Avoid Them
Boston, MA (PRWEB) July 14, 2008
CFO Conferences today announced the addition of two new sessions at The CFO Technology Summit, taking place in San Francisco, September 7-9, 2008. One panel will address the challenges of implementing XBRL (extensible business reporting language), which will soon become mandatory for many financial statements. The other will tackle a different type of technology challenge: the numerous pitfalls in installing large-scale integrated software packages, such as ERP.
The addition of "XBRL: What CFOs Need to Know about the New Language of Financial Reporting" was in response to recent moves by the Securities and Exchange Commission to mandate the reporting format. "In late May, the SEC made it quite clear that XBRL is the financial format of the future," said Julia Homer, SVP and chief content officer of CFO Publishing Corp., of which CFO Conferences is a unit. "By the end of the year, all public companies will start having to provide their financial statements, footnotes, and schedules using interactive data. CFOs must take action to comply--and soon."
A three-person panel will outline the specific actions necessary as well as address how to avoid potential pitfalls in the transition to XBRL and how best to leverage the benefits for shareholders and investors. The members of the panel are:
- David Blaszkowsky, director, Office of Interactive Disclosure, SEC. Named last October by SEC chairman Christopher Cox to lead the transformation to XBRL, Blaszkowsky is an 11-year veteran of The McGraw-Hill Cos., including 7 years with the firm's Standard & Poor's division.
- John Stantial, assistant controller, Financial Reporting and Analysis, United Technologies Corp. At the $60 billion maker of Carrier heating and air conditioning, Otis Elevators, and Pratt & Whitney engines, Stantial's department is responsible for all statutory filings, including XBRL furnishings, government reports, annual reports, and other financial filings.
- Mike Willis, CPA, partner, PricewaterhouseCoopers; founding chairman, XBRL International. Willis has more than 26 years of accounting and auditing experience. In addition, he has served in a number of roles within the XBRL community and currently serves on the International Steering Committee as vice-chairman.
The second session, "ERP (and other) Implementation Nightmares: How to Recognize Them; How to Fix Them; How to Avoid Them," will address the continuing problems companies face with major software installations. These complaints are nothing new: studies from the past 15 years have found that 50 to 70 percent of companies consider at least some of their large-scale software deployments outright failures. "CFOs want to know the secrets of doing this right," said Homer. "How can you launch your ERP, BPM, or other large project effectively and see it through to completion?"
The panel of independent experts will include Kenneth Taylor, enterprise program director at Resource Global Professionals, and will address the pitfalls of not changing work practices to fit the systems or of failing to retrain employees in how to use them. In addition, the panel will give expert advice on how to keep costs and tempers in check and detail the best reasons for calling it quits.
The theme of this year's CFO Technology Summit is "Mission Critical: How finance executives can take control of their IT investments." For additional information on topics and speakers, go to the conference Website at http://www.cfotechsummit.com.
About The CFO Group
CFO magazine, CFO.com, CFO Conferences, and CFO Research Services together constitute The CFO Group, an Economist Group business. With a rate base of 450,000, CFO magazine is the leading business publication for C-level and senior finance executives, and provides a close-to-the-customer connection that extends across all business lines. The CFO Group also reaches an international audience of corporate leaders with its global group of magazines, including CFO Europe, CFO Asia, CFO China, and CFO Russia (produced by B2B Media under license from CFO Publishing Corp.). For more information, visit http://www.cfo.com.
About CFO Conferences
CFO Conferences produces educational and networking conferences and exhibitions for senior finance executives. Speakers include the CFOs of major corporations as well as thought leaders in management, strategy, and innovation. Attendees are primarily CFOs, VPs of Finance, and controllers from large and midsize U.S. corporations. For more information, visit http://www.cfoconferences.com.
Randall A. Byrn
inquiries @ cfo.com