"Working with existing systems", or as we like to call it, "playing nicely with the other kids in the park".
Quite often a company would have existing or legacy systems that would provide specific solutions for a specific business requirement. Certain business units (such as procurement, HR, finance, operations or IT) would have specific systems that suit that specific business unit . A system may provide one or more solutions but rarely not many requirements and often they don't integrate nicely with other systems. This can mean that multiple systems are utilised by the company that don't talk to each other.
An organisation will say that they have a system (or 2) that meets maybe 60% of their requirements. But, they need to automate other business functions too, if finao was engaged how would the finao system work with other systems to compliment their existing offering?
This is a question we are often asked. We don’t claim to have one system to suit all business requirements and this is where integration is important, the ability to push and pull data between systems of record to ensure a single source of truth. A system of record is where specific data is stored and this is the single source of truth. The relationship between the single source of truth and the system of record is very important to understand. Data always needs a source system, somewhere where it is managed and stored. Having multiple IT systems can lead to disagreement about the same piece of information and can affect the data integrity. This is where it is important to understand the single source of truth.
Let's take a payroll system as an example, this is usually where all of an employee personal data, NOK details is stored and payroll is processed. But what happens if it doesn't store and manage the employees qualifications, certifications, tickets and inductions. This is then often managed through an excel on an Administrators computer. Managing important data such as this on an excel is fraught with danger, affects the integrity and accessibility (for all users) can be an issue.
finao is able to integrate with many multiple systems (at the same time). In this instance the payroll system is the system of record. Specific user data could be pulled (and mapped) into the finao system and then all the employees tickets, certifications and inductions can be stored and self managed though the finao system. This process reduces admin, creates efficiencies and increases compliance. When any updates are completed in the payroll system data the update automatically appears in the finao system. The finao system then can also manage complimentary functions such as leave application / approval and personnel timesheets.
This process can be repeated for any existing business system that doesn't quite meet your business requirements. finao systems can be a system of record or it can pull (and push) data to ensure the single source of truth.
The benefits of a finao system include the ability to customise, speed to market (for updates and enhancements), complete system auditability, auto-notifications and reminders on a secure, scaleable, flexible cloud solution accessible from any device.
We aim to compliment the existing offering, automate business functions and share in a single platform to make life easier for administrators and the end users.