General Ledger data may be imported on a timer or on-demand

Description

This requirement mandates that the user simply clicks a button or sets a schedule for fresh actuals to be imported from the General Ledger. As such, the system must have either a native or iPaaS connection to the ledger to facilitate the import. CSV imports, or imports that required a SFTP directory do not qualify.

Example Use Case

Scenario: A large e-commerce corporation uses CPM software for financial analysis and performance tracking. The company operates across different geographical regions and time zones, hence there is a continuous flow of financial transactions that impact the General Ledger.

Solution: With the CPM software's functionality to import GL data in real-time or on a scheduled basis, current financial data from various regional operations is continuously available. This helps the financial analysts stay updated with the most recent transactions, allowing continual month-to-date reporting for the executive team.

Considerations

Depending on the volume and frequency of transactions, choose the appropriate option between real-time and scheduled data import. Running an import in most systems will cause data issues with anyone logged into the system. At best they'll need to reload their page, and at worst it will overwrite their work.

When planning monthly, a mid-month load should update to that point in time, meaning that month over month reporting will be meaningless until the month wraps up.

Questions to Ask a Vendor

• Data Import Options: What options do your software offer for importing General Ledger data - real-time or scheduled basis?
• Implications: What happens if we initiate an import while users are actively working in the system?
• Timing: How long does it take to bring in data and process it for use? In other words, how long are we out of action once we run the import?