yourfanat wrote: I am using another tool for Oracle developers - dbForge Studio for Oracle. This IDE has lots of usefull features, among them: oracle designer, code competion and formatter, query builder, debugger, profiler, erxport/import, reports and many others. The latest version supports Oracle 12C. More information here.
Cloud Expo on Google News

2008 West
Data Direct
SOA, WOA and Cloud Computing: The New Frontier for Data Services
Red Hat
The Opening of Virtualization
User Environment Management – The Third Layer of the Desktop
Cloud Computing for Business Agility
CMIS: A Multi-Vendor Proposal for a Service-Based Content Management Interoperability Standard
Freedom OSS
Practical SOA” Max Yankelevich
Architecting an Enterprise Service Router (ESR) – A Cost-Effective Way to Scale SOA Across the Enterprise
Return on Assests: Bringing Visibility to your SOA Strategy
Managing Hybrid Endpoint Environments
Game-Changing Technology for Enterprise Clouds and Applications
Click For 2008 West
Event Webcasts

2008 West
Get ‘Rich’ Quick: Rapid Prototyping for RIA with ZERO Server Code
Keynote Systems
Designing for and Managing Performance in the New Frontier of Rich Internet Applications
How Can AJAX Improve Homeland Security?
Beyond Widgets: What a RIA Platform Should Offer
REAs: Rich Enterprise Applications
Click For 2008 Event Webcasts
Top Links You Must Click On

Basware: SMB employees spend 2 full working days a month on financial processes

The average SMB employee spends 16 hours and 53 minutes per month on financial processes, equating to two full working days on activity unrelated to their role, according to part two of Basware’s SMB Finance research.

Of those two days spent on financial processes, the most time-consuming exercises include responding to supplier/customer enquiries (2 hours 19 minutes), creating and sending invoices (1 hour 55 minutes) and reviewing invoices to be paid (1 hour 45 minutes). This coincides with the findings that in Europe, almost half of SMB business owners (46%) don’t believe their company has a clear procedure for approving invoices to be paid, compared to 38% in the US. Similarly, 52% of US employees and 50% of European employees do not believe there is a clear process for chasing unpaid invoices, leaving the SMB vulnerable to cashflow challenges.

The SMB Finance research surveyed 558 business owners and 1,368 employees with financial responsibility from small to medium enterprises to identify the financial processes and owners of responsibility within SMBs across the UK, US, Sweden, Germany and Belgium & Netherlands.

This research aims to inform SMBs of the challenges they face in growth, as well as educating business owners on the productivity levels of their employees as small business finance processes reach breaking point. The findings also help businesses to understand the investment needed in people, processes and technologies as they move from ‘small’ to ‘medium’ and beyond.

It appears that the lack of clear procedure for receiving and sending invoices is also causing disconnect among business owner and employee expectations due to the invoice payment process. According to business owners, it takes European businesses 8 days and US businesses 4 days to complete a payment after receiving and processing an invoice. Yet, according to employees, it takes European businesses 10 days and US businesses 7 days to complete a payment after receiving an invoice.

The lack of clarity surrounding invoicing procedures is further exacerbated by the fact that a significant percentage of businesses are dealing with invoicing manually, adding further time and resource to the financial process. 64% of European SMBs manually invoice customers (compared to 40% in US), while 77% manually approve / pay purchase invoices.

While medium-size businesses are most likely to receive an electronic invoice from their supplier (72%, compared to 56% in small and 31% in micro organizations), this type of business is also most likely to experience challenges with purchase invoices (91%, compared to 84% in small and 53% in micro organizations). As SMBs become larger and implement more automated processes, they continue to deal with smaller organizations with manual paper processes. The research suggests that micro organizations may be able to improve supplier relations if they switch to an automated invoicing process, in order to align with other companies more successfully when transacting.

John Webster, Vice President of Global Product Marketing, Basware comments: “Although SMB resources are often being stretched to the limit in this challenging economic climate, employees in these organizations are still spending a significant amount of time on tasks that may be completely unrelated to their role. The SMB Finance findings suggest this resource drain is down to inefficient financial processes and manual systems that are preventing small businesses from transacting successfully with suppliers and buyers, issues that need to be addressed if growth and health cashflow is to be achieved. By automating their financial processes, SMBs reduce pressure on employee time, remove manual errors and establish a platform for growth which stems from effective finance.”

Basware’s SMB Finance research also gives an indication of business owners’ priorities in the current financial climate:

  • Medium sized owners’ concerned with strategy: 53% in the US are most focused on budgeting, compared to 27% in Europe
  • A greater focus: With more time spent on financial planning, medium businesses are able to plan further ahead, on average 18 months in advance, compared to 15 months among small and 10 months among micro businesses.
  • SMB owners on the go: 74% of European and 89% of US owners check their business’ finances outside of work, with slightly fewer than half most likely to check at the weekend

Research definitions

European medium-sized business: Organizations with between 50-250 employees

European small-sized business: Organizations with between 10-50 employees

European micro-business: Organizations with up to 10 employees

US medium-sized business: Organizations with between 50—500 employees

US small-sized business: Organizations with between 10-50 employees

US micro-business: Organizations with up to 10 employees

About Basware

Basware is the global leader in cloud based e-invoicing and purchase-to-pay solutions with more than 1,000,000 users in over 60 countries. Basware’s B2B Cloud solutions and services provide an open, secure and global ecosystem for buyer and supplier collaboration, connecting more than 1.9 million buyers and suppliers globally. The solutions are architected to meet the needs of SMEs and global enterprises and are built upon Basware’s deep knowledge and experience of B2B financial processes, coupled with intelligent cloud connectivity and the Open Network. With Basware, organizations benefit from more efficient procurement, accounts payable and accounts receivable processes, sustainable cost savings, better insight to cash flows and improved buyer-supplier relationships. The solutions are available via the cloud, on-premise or through business process outsourcing in Europe, the US, and Asia-Pacific through an extensive network of Basware offices and business partners.

Basware Twitter:

Basware LinkedIn:

About Business Wire
Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Enterprise Open Source Magazine Latest Stories . . .
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the...
Virgil consists of an open-source encryption library, which implements Cryptographic Message Syntax (CMS) and Elliptic Curve Integrated Encryption Scheme (ECIES) (including RSA schema), a Key Management API, and a cloud-based Key Management Service (Virgil Keys). The Virgil Keys Servic...
Fifty billion connected devices and still no winning protocols standards. HTTP, WebSockets, MQTT, and CoAP seem to be leading in the IoT protocol race at the moment but many more protocols are getting introduced on a regular basis. Each protocol has its pros and cons depending on the n...
Ten short years ago, Apache Hadoop was just a small project deployed on a few machines at Yahoo and within a few years, it had truly become the backbone of Yahoo’s data infrastructure. Additionally, the current Apache Hadoop market is forecasted to surpass $16 billion by 2020. This mi...
Apache Hadoop is a key technology for gaining business insights from your Big Data, but the penetration into enterprises is shockingly low. In fact, Apache Hadoop and Big Data proponents recognize that this technology has not yet achieved its game-changing business potential. In his ...
The Open Connectivity Foundation (OCF), sponsor of the IoTivity open source project, and AllSeen Alliance, which provides the AllJoyn® open source IoT framework, today announced that the two organizations’ boards have approved a merger under the OCF name and bylaws. This merger will ad...
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
Click to Add our RSS Feeds to the Service of Your Choice:
Google Reader or Homepage Add to My Yahoo! Subscribe with Bloglines Subscribe in NewsGator Online
myFeedster Add to My AOL Subscribe in Rojo Add 'Hugg' to Newsburst from CNET Kinja Digest View Additional SYS-CON Feeds
Publish Your Article! Please send it to editorial(at)!

Advertise on this site! Contact advertising(at)! 201 802-3021

SYS-CON Featured Whitepapers