During the past 15 years, more and more multinational corporations have reached the conclusion that standardizing business processes makes good business sense. It would be utopian, the thinking goes, if a company was able to run one order processing system, manufacturing system and, most of all, one financial system.
Why? Well, in the pre-historic days of the 1980s and ’90s, it was commonplace for different units within a company to run their own disparate systems to meet the needs of a specific type of business. Then, on a monthly basis, the dreaded “consolidation” or “reconciliation” processes would begin.
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