Archive for June, 2014

Azure – new back up solution – Azure Site Recovery (ASR)

June 28th, 2014

No backup data center?

Microsoft Azure Site Recovery will keep applications and services running on the cloud should disaster strike.

Microsoft cloud-based disaster recovery is coming with Azure Site Recovery (ASR)).

Abhishek Hemrajani, a Microsoft program manager,in the company’s official blog announced new capabilities that enable disaster recovery (DR) in the cloud. Enterprise and small and midsized businesses (SMBs) “can now protect, replicate, and failover Virtual Machines directly to Microsoft Azure.”

In short, a cloud-based DR site that can span multiple geographies.

ASR, formerly Hyper-V Recovery Manager, provides a guaranteed safety net, whether customers “enable Disaster Recovery across On-Premise Enterprise Private Clouds or directly to Azure,” said Hemrajani.
He added that “virtualized workloads will be recovered accurately, consistently, and with minimal downtime.”

Businesses no longer need to view cloud-based DR with suspicion, according to Microsoft’s Brad Anderson, corporate vice president of Windows Server and System Center. “If you’re an enterprise that has viewed previous cloud-based DR solutions with skepticism—brace yourselves for the details of this announcement,” he said in a statement. – See more at:

Cumulative Update #2 for SQL Server 2014 RTM

June 28th, 2014

Fix for the index corruption issue is now available for SQL Server 2012 Service Pack 2 – available for download for via the hotfix download link in the KB article. See KB

Health data on the internet – good or bad?

June 28th, 2014

The new “Google Fit” health data tracking service will compete with Apple’s recently announced HealthKit data collection services, according to a report.

Google will debut its plans for a new health data tracking service called “Google Fit” at the upcoming Google I/O developers conference as part of its recent push into high-tech wearables. – Google has also been working recently on other device-related health projects, such as experiments unveiled in January with special contact lenses that are equipped with miniaturized sensors that can analyze the tears in the eyes of diabetes patients to determine when their blood sugar levels need to be adjusted. – See more at:

It seems perverse coincidence to read on the same day that possibly 1.3 million records were stolen when hackers broke into Montana’s health care system presumably with the intent of identity theft. , Montana has taken the steps necessary to shore up security. Government officials have confirmed that the personal information of 1.3 million people has been hacked. State of Montana officials are now notifying potential victims that hackers broke into a Department of Public Health and Human Services (DPHHS) computer server

Capital requirements for credit risk – new ECB consultation paper

June 28th, 2014

26th June 2014, Brussels: The European Banking Authority (EBA) has just released a consultation paper pertaining to the sequential approach of the Internal Ratings-Based (IRB) approach to capital requirements for credit risk. This paper also covers the limited permanent use under the Standardised Approach (SA) (Articles 148 (6), 150 (3) and 152 (5) of the EU Regulation 575/2013 under the Capital Requirements Regulation (on prudential requirements for credit institutions and investment firms).
Following its release, the EBA is inviting proposals, particularly relevant questions and/or points the body should take into consideration up till the 26.09.2014, following which it will subsequently submit the draft Regulatory Technical Standards (RTS) to the commission by the 31.12.2014. The Authority, following analysis of potential pegged costs as well as associated advantages, has also requested the option of the Banking Stakeholder Group (BSG) as per Article 37 of Regulation (EU) 1093/20102.
Supplementing EU Regulation 575/2013, this consultation paper assumes that specific exposure categories may be treated under the Standardised Approach permanently, depending on a predetermined subset of criteria (materiality of size and risk of the exempted exposures). This permanence will also prevail in situations where technical or operational difficulties are encountered during the deployment of the IRB approach. As a general rule of thumb, the paper advises that “competent authorities should ensure that the higher the potential for underestimating the risks stemming from its design, the quicker this potential should be reduced.”
The adoption of this regulation is sectioned into the following facets:
Article 1 defines the General principles related to all the relevant ‘exposure values’ and their associated ‘risk-weighted exposure amount’. Specifically, a) equity exposures as referred to in Articles 133 (1) and 147 (6) of Regulation (EU) No 575/2013 and b) all exposures for which the institutions have received permission to apply the Standardised Approach on the basis of Article 150 (1) (d) to (f), (i) and (j) of Regulation (EU) No 575/2013.
Article 2 defines the conditions of application of points (a) and (b) of Article 150(1) as per Regulation (EU) No 575/2013, related to conditions such as the aggregate threshold of 8% of all exposures as well as the aggregate risk-weighted exposure amount assigned to the class similarly does not exceed 8%; as well as the consideration to counterparties being materially significant (>= 10% total exposure of the institutions eligible capital). Article (2) also takes into consideration accessibility and availability of information, cost of developing the said ratings system as well as the institution’s operational capability to determine suitability for such rating-system implementation.
Article 3 treats the relevant conditions of point (c) of Article 150 (1) insofar as to application the SA being limited to classes or exposure types whose magnitude as well as risk profile is considered immaterial.
Article 4 deals with the specific conditions according to which competent authorities shall determine the various characteristics as well as scheduling of the successive IRB rollout. Contained within Article 148 (3) of the regulation, this consultation paper advises that (competent authorities) “shall ensure that the higher the potential for underestimating the risks, the quicker this potential shall be reduced” as well as sets forth a series of conditions that need to be adhered to insofar as permission being granted to apply the IRB approach. These include total exposure value and total risk-weighted exposures >= 50% of the set relevant exposures. Following the inclusions of the IRB Approach for a particular exposure class, Article (4) also states a set of considerations the EBA will take into account for an institutions’ rollout timing. These incorporate the availability of time series data, the institutions capability, acumen and preceding experience in developing the rating system as well whether there are occurrences of tied affiliates to the institution who are not subject to Regulation (EU) No 575/2013 or to the corresponding respective country’s legislature.
Article 5 decrees that the regulation shall come into force on the twentieth (20th) day following “its publication in the Official Journal of the European Union”
EBA Consultation Paper – Deadline 26th September 2014
Regulation (EU) No 575/2013 of the European Parliament and of the Council on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012
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BASEL 111 and BCBS 239 what does it mean for Middle East banks?

June 28th, 2014

A BI vendor surveyed banks in in December 2013 in Europe, North America and Asia-Pacific to explore data governance initiatives, highlights the need for Board-level representation and ownership to ensure that data governance frameworks meet the business objectives. Data governance has become more important following the global financial crisis, yet over two thirds (63%) of financial industry executives do not consider it to be a Board-level issue. .
The study also showed that one third (31%) of financial institutions do not have defined roles and responsibilities in the data governance space. despite the many business drivers for data governance in the financial world.
Achieving regulatory compliance and r educing regulatory risk .was recognized by 94% of banking executives as a business driver, followed closely by ensuring data consistency across the enterprise (88%) .and improving transparency of financial data and information (63%). Why the change of heart?
The Basel Committee on Banking Supervision’s BCBS 239 principles paper was introduced to transform the way risk data management and reporting is carried out internationally. It requires that be underway to meet their January 2016 deadline.
Originally released for comment in June 2012, the 14 principles of BCBS 239 cover a lot of ground, addressing areas ranging from IT infrastructure and governance arrangements, to the way that risk management departments generate ad hoc reports.
The BCBS 239 principles also affect G-SIBS (those subject to additional capital requirements), and additional D-SIBS requirement defined by local central banking authorities, who will only have three years to meet compliance.
The list of principles may seem overwhelming, and time is running out. Covering everything from IT infrastructure to governance and timeliness, the principles are an opportunity for firms to renovate, innovate, and proof their business with the most effective people and processes in place.
Three questions, to help you decide on an action plan for compliance on schedule and to also support growth and productivity.
1. Current status?
What are your real Strengths and Weaknesses, Opportunities and Threats on data risk management compliance?. In future supervisors will require documentation and proof, and this means you need a formal system and processes.
2. Which IT systems do you use now – are those adequate?
Near real-time aggregated data is key for timely alert to risk. BCBS’s report, ‘Progress highlights that banks feel they do have a compliant with strong IT infrastructure and data architecture.
Is your technology efficient and effective? Scalable and agile?

3. Do you have the right people on the job?
Risk management comes down to people. Technology can maximize their essential productivity in processing data, and reduce errors with in-built validations and standard data transformation and aggregation , with comments, logs, version controls and audit trials, risk. Help them better to manage risk by turning data into timely intelligence with kpis to manage, report and inquire on information.
The BCBS 239 framework can be broadly categorised into 4 main pillars.
“Pillar 1 Governance and Infrastructure.”
Governance entails implementing appropriate organisational and process structures to ensure that risk aggregation receives the same strategic importance of any of the bank’s other business critical processes.
This encompasses day to day management structures and the senior management and C-level ownership of risk data.
This Pillar requires organisations to put in place the right kind of technology and process infrastructure, not only for risk aggregation requirements, but also to offer an extensible framework that will allow easy incorporation of newer forms of risk and sudden spikes in computation capabilities in stress or crisis scenarios.
Pillar 2 “Risk aggregation” .
A bank must ensure that it has in place the right capability and resources to provide:
◾Accuracy and reliability via data quality processes
◾Adherence to an “enterprise data dictionary”
◾Well documented unambiguous processes – either automatic or manual
◾Completeness in terms of data usage and coverage
◾Consistent latency for aggregating risk within agreed SLAs
◾Flexibility and adaptability to provide new aggregations easily
Pillar 3 “Risk reporting”
The supervisors will need to be confident confident that the bank has a suitable risk reporting infrastructure that is:
◾Accurate with appropriate data quality processes
◾Comprehensive – covering all the agreed risk across agreed organisational entities i.e. asset classes, organisational structures, locations, counterparties, etc.
◾Clear, intuitive and useful for the end users to easily comprehend
◾Available and refreshed at agreed frequencies
◾Distributed to the users using appropriate content distribution processes
Pillar 4 “Review, Collaborate and Act”
Timely reports on aggregated risk data should be available. Supervisors require appropriate means to review the aggregated risk output, to inquire further and to make any remedial changes as part of the workflow.
Data Accuracy
Another essential factor to consider is data accuracy. Most big banks tell us they still struggle with data quality issues. Large global banks are often the product of complex mergers, that involves its own set of data and technology challenges. Banks have multiple systems introduced often ad hoc for new revenue streams from different asset classes. The systems were never designed to capture the data in a manner to support the reporting required by regulators. There is often very little integration in the front office and there are often more than 50 systems and subsystems that hold data. Each desk has its own: trading, booking, pricing and reporting systems. New product are then built on those legacy systems and copy data from middle-office risk aggregation systems and may receive risk in more than one data channel for the same asset class,. Risk managers need to know what is the real risk and it is not practical to do this efficiently or in a timely manner form front office systems aggregate din Excel.
The completeness and quality of data in the back office is more important than the mathematics underlying risk calculations in the front office. If you don’t have the right information, at the right time about a position, (or don’t even know it exists) then your risk calculations are irrelevant. IT investment in integrating and normalising banks data is even more important than updating risk engines. Consider whether your reporting solution should embed a risk engine maintained by the software author in lien with regulatory requirements.
BCBS requires board level review of the risk data aggregation for new product approval and also for other strategic business decisions such as: mergers, spinoffs and acquisitions. The uncertain nature of financial markets, makes it both more difficult and more important for investment banks to build an agile infrastructure and reporting capabilities to make faster and better informed investment and decisions.
There is an overlap of what BCBS 239 prescribes and similar initiatives supporting other regulatory frameworks (e.g. Basel III, MIFID II, COREP, CRD IV, etc.). Forward-looking finance executives are using high-performance technologies to create fundamentally superior, compliant risk reporting processes which also help executives meet their goal of sustainable profitability.

Buy vs Build?
KPMG’s Managing the data challenge in banking advises that firms needs to ask themselves whether they have a clear Data Architecture to support the principles of Risk Data Aggregation and whether they are able to create future data capabilities that will enable them to comply with the BCBS principles by the required deadline of 1 Jan 2016.

In Deloitte’s 2013 global risk management survey, only 31 percent of respondents said that their data quality efforts were effective and only 20 percent were confident in their data management and maintenance efforts. Their advice? Automation.

Ask us about BRSAnalytics – purpose built for bank regulatory reporting.
Hasan: 0097143365589

Dynamics Ax 2012 POS and Windows 8.1

June 25th, 2014

Windows 8.1 Embedded is now available on Microsoft Dynamics AX 2012 R2 Cumulative Update 7 Retail POS.

This is in addition to the already existing support for this operating system on AX 2012 R3.

Microsoft Dynamics AX 2012 R3 Whitepaper – Support for International Financial Reporting Standards (IFRS)

June 25th, 2014

A tier 1 solution like Dynamics Ax 2012 R3 needs to support multi-company multi-currency, multi-geography deployments across different statutory authorities.
Whether you plan to expand domestically, or internationally it often results in increased complexity and the number of regulatory requirements continues to increase. Performance expectations, increasing stakeholder demands, and changing market conditions force business leaders to search for cost-effective ways to enforce compliance adoption without jeopardizing organizational agility and business growth.

Microsoft Dynamics AX can help address the change and complexity involved in meeting compliance regulations as a result of globalization.

International Reporting Standards – a global standard format

To maintain consistency and comparability of reporting financial results of global organizations, International Reporting Standards (IFRS) define a standard format for companies to report their financial results in an easily understandable and comparable nature. The globalization of business and finance has led to the adoption of the standards by more than 12,000 companies. IFRS and accounting determinations are replacing many different national accounting standards

PricewaterhouseCoopers LLP and Microsoft developed a white paper together to explain how Microsoft Dynamics AX can help organizations appropriately use and apply the IFRS.

Capabilities that can help organizations support their compliance initiatives are the ability to define and share any number of chart of accounts, fiscal calendars, and currencies. In Microsoft Dynamics AX the general ledger for a company or legal entity defines a combination of a specific chart of accounts, a fiscal calendar, and the functional and reporting currency. For organizations that have foreign operations, for example, overseas subsidiaries, branches or associates that maintain their accounting records in their local currency Microsoft Dynamics AX 2012 supports expressing foreign currency transactions in the entity’s functional currency.

For more information please call us about International Financial Reporting Standards and Microsoft Dynamics AX or see the Microsoft Dynamics AX 2012 R3 launch page

18 Jun 2014 2:47 PM

In my conversations with business leaders and finance executives, many of them shared that they are planning and anticipating growth.

Whether they plan to expand domestically, internationally or both, it often results in increased complexity and competitive nature of their business environments, requiring them to use available resources more efficiently and effectively.

At the same time, the number and complexity of regulatory requirements continues to increase. Performance expectations, increasing stakeholder demands, and changing market conditions are forcing business leaders to search for cost-effective ways to enforce compliance adoption without jeopardizing organizational agility and business growth.

Microsoft Dynamics AX can help address the change and complexity involved in meeting compliance regulations as a result of globalization.

International Reporting Standards – a global standard format

In order to maintain consistency and comparability of reporting financial results of global organizations, International Reporting Standards (IFRS) have been designed and implemented across the world as a standard format for companies to report their financial results in an easily understandable and comparable nature.

The globalization of business and finance has led to the adoption of the standards by more than 12,000 companies. IFRS and accounting determinations are replacing many different national accounting standards to maintain consistency and comparability for global investors.

PricewaterhouseCoopers LLP and Microsoft developed a white paper together to explain how Microsoft Dynamics AX can help organizations appropriately use and apply the IFRS.

IFRS WP Screen shot

Microsoft Dynamics AX Support for IFRS white paper

Microsoft Dynamics AX helps organizations with compliance initiatives

While the dimensions of IFRS and Sarbanes-Oxley are far reaching and can be complicated, we’ve built Microsoft Dynamics AX to help organizations meet these obligations. The compliance and audit features offer a way to enforce compliance in a consistent, cost-effective way, while streamlining business processes and improving efficiency across the organization.

Other capabilities that can help organizations support their compliance initiatives are the ability to define and share any number of chart of accounts, fiscal calendars, and currencies. In Microsoft Dynamics AX the general ledger for a company or legal entity defines a combination of a specific chart of accounts, a fiscal calendar, and the functional and reporting currency. For organizations that have foreign operations, for example, overseas subsidiaries, branches or associates that maintain their accounting records in their local currency Microsoft Dynamics AX 2012 supports expressing foreign currency transactions in the entity’s functional currency.

Learn more

I’m happy to share the Microsoft Dynamics AX 2012 R3 Support for International Financial Reporting Standards (IFRS) white paper with you today. For more information please visit:
•International Financial Reporting Standards and Microsoft Dynamics AX web page (requires Partner Source/Customer Source access)
•Microsoft Dynamics AX 2012 R3 launch page

Central Bank of Kuwait – Implementation of the Instructions of Basel III Capital Adequacy Standard

June 24th, 2014

Press Release by H.E. the Governor of the Central Bank of Kuwait Regarding Implementation of the Instructions of Basel III Capital Adequacy Standard in its Final Format to All Local Banks (24/6/2014)

His Excellency, the Governor of the Central Bank of Kuwait (CBK), Dr. Mohammad Y. Al-Hashel, stated that the CBK’s Board of Directors approved, in a meeting held on 24.06.2014, the instructions of Basel III Capital Adequacy Standard in its final format for both conventional and Islamic banks, having already adopted on 24.12.2013 the regulatory capital structure and the transitional phase for implementation thereof in the light of the positive outcomes of the Quantitative Impact Study (QIS) reflecting the ability of banks to meet Basel III capital adequacy standards – despite the additional requirements with respect to regulatory capital.

“In July and August 2013 draft Basel III instructions have been issued to conventional and Islamic banks to implement these instructions in parallel with Basel II instructions and, accordingly, such banks shall provide CBK with Basel II capital adequacy statements on a quarterly basis along with Basel III statements until 31.12.2014,” Dr. Al-Hashel said.

“Basel III Capital Adequacy Standards incorporate some major amendments to Basel II Capital Adequacy Standards – representing an increase in the overall ratio of regulatory capital, whilst at the same time re-defining regulatory capital, coupled with standards that aim at improving its overall quality. Among these standards are i) setting minimum limits for the items in the form of common equity; ii) setting additional margins in the form of conservation capital buffers and counter-cyclical capital buffers; iii) setting stricter terms for Tier II Capital; and iv) rescinding Tier III (which was allowed under Basel II), in addition to further ratios for those banks identified as domestically systemically important banks (D-SIBs),” he highlighted.

“As the CBK is firmly committed to implementing Basel III reforms and guidelines, the CBK, since the issuance of such set of reforms, has initiated actions necessary to apply these guidelines, whereby the State of Kuwait will be in the forefront of countries applying best international banking control standards. Kuwait’s initiative to be one of the first countries to implement Basel II was welcomed and appreciated by global institutions, and served as a boost to the reputation of the CBK’s supervisory authority and the Kuwaiti banking sector on a global level, including global credit rating agencies as reflected in an upgrade in the credit rating of the Kuwaiti banks,” Dr. Al-Hashel continued.

The Governor added that the CBK is moving forward toward accomplishing the other standards of Basel III set of reforms – viz leverage ratios and liquidity ratio standards according to a well-planned schedule and taking into consideration the QIS outcomes.

The Governor said that “final Basel III capital adequacy standard instructions are now published on the CBK website for those interested in the banking and financial business.”

“The CBK is constantly upgrading its regulatory tools in line with best practices so as to reinforce banks’ resilience to financial shocks, whilst capitalizing on well-balanced and gradually introduced regulatory policies that aim to strengthen the banking and financial system, without negatively affecting economic growth,” he concluded.

Prophix CPM seminar – Synergy Software Systems

June 23rd, 2014

A very informative seminar was held this morning at Microsoft Gulf offices. Kevin Ashby, the Application Platform Marketing Manager, Microsoft Gulf started with an insight into SQL 2012/ and 2014 and the new tools such as Power PBI and Power maps and in memory processing.

Stephen Jones Director Synergy Software Systems then gave an overview of what is CPM, why its needed, the Gartner maturity model, how industry research from PWC, Aberdeen, Gartner , IBM etc shows that leading companies are much more likely to use CPM solutions and consistently outperform laggards. As one analyst put it “if you don’t have a CPM system now – then you will have within 5 years”

New generation CPM tools leverage the Microsoft technology platform to provide productized solution that can be configured, and is driven by wizards. In built workflows, analysis tools, report binders and automated report scheduling, detailed audit trails, dashboards and kpis monitors, and ad hoc drilldown and delta analysis are all standard features. This productised approach leads to lower acquisition costs, much lower implementation costs, and much happier finance users who have little dependence on IT to manage the processes and reports.

Senior Prophix Consultant Asim then demonstrated the solution covering budgets, detailed manpower planning and consolidation, to demonstrate the ease of configuration, workflow processes, workflow management , data processing, and analysis and reporting. This raised many questions all of which were met by Prophix. Asim then demonstrated how Microsoft tools such as Power BI can be used to further enhance Prophix.

Jennifer Vaz, Executive Director discussed two local Synergy case studies for Danone and Accor that illustrated how the underlying processes of building data templates to populate data cubes created by wizards and the same data processing, analysis, inquiry and reporting can be applied to other business requirements. In addition to traditional CPM Danone also use Prophix to gather and consolidate sales forecast by Sku from multiple distributors across the region. This helps generate the demand orders on the factory in Europe and to manage the delivery pipeline, inventory, service levels, and to forecast transport costs, revenue, cash etc.

Accor regional head office manages many hotels with different contractual billing terms. Prophix helps to generate the detailed allocations and invoicing based on the specific contractual terms.

Both projects have been major successes delivered within short timescales.
The presentation concluded with an overview of Synergy Project methodology and how this ensures repeatable project implementation success as evidenced by many testimonials from satisfied clients.

If you missed this seminar and would like to attend another one then please contact Bindu 00097143365589 and we will notify you of our next seminar. If you live outside the region then we can arrange a remote presentation via the internet.

Dynamics Ax 2012R3 – what a great Synergy seminar!

June 23rd, 2014

A lively seminar held today at Microsoft Gulf Offices in Dubai Internet City lifted the lid on some of the many powerful new features in Dynamics Ax 2012 R3. Almost very one attending made the comment at some point in the afternoon that “this is exactly the functionality we have been looking for”

Synergy Director, and Ax Practise Head, Stephen Jones gave the introduction and highlighted some key changes in licensing and technology. He then mentioned the many modules included in the new server licence that many customers had not considered previously such as :Questionnaire Module, and the inclusion and extension of modules such as: PSA, Process Manufacture lean Manufacture, Case Management, HR and CRM, Role based Enterprise Portal, Timesheet and Expense management through portals, QA module and Management Reporter. and Environmental management and an advanced workflow engine,

The tight integration of Dynamics Ax 2012 R3 modules to provide cross functional processes that also leverage the Microsoft stack : such as SharePoint, Word, Excel, and MS Project was illustrated by an end to end walk through of the Project Accounting module.

The presentation romped through: quote from opportunities, budget control, sub project budget control, budget revisions, project retentions, completion % booking, WBS structure, project team and roles and staff scheduling based on the integration with HR module, Case management for project initiation, H@S, incident management etc, Staff scheduling to project, Timesheet and Expense submission and approval through EO and workflow, timesheet and expense approval and project revision approval via workflow and approval in Surface mobile app, the new Timesheet audit and revision control features, 2 way MS project integration, Analysis from Role portal and adding additional reports to web parts, analysis in Excel pivot table, Business Analyzer reports on Surface pro app, collaboration workspace.

Samer Awad, Microsoft Gulf’s, Dynamics Technology Strategist then gave a higher level view of where business is heading – cloud, mobility, social, always connected self serve, and business apps – and how Dynamics Ax2012R3 is abreast of this new technology wave that is transforming business processes.

Jennifer Vaz, Synergy Software Systems’ founder, and Executive Director, then provided an overview or the many features of Ax HR modules,. She continued with a walkthrough of Synergy Software Systems’ localised Payroll system for Dynamics Ax 2012 R3. She was aided by Sundar, who concluded with a live demonstration of Power View working with Synergy’s BI cube for Payroll.

After the break a live demonstration of the new warehouse module and the mobile bar code/rfid support for inventory transactions attracted a lot of interest and questions. Sridaran, supported by logistic consultants Ganesh and Dinesh presented an end to end process covering PO and receipt and put away, production issues and receipt, to sales order pick, ship and invoice with all the inventory transactions processed through the mobile interface using system generated bar coded documents. Other new features revealed during the process such as advanced batch control and traceability with multiple dates,, ‘sellable days’, and ‘margin alerts’ on sales orders added to the interest.

With the audience in no rush to finish early the seminar concluded with a look at some financial features. A live demonstration of both multi company consolidation and the new enhanced budget planning features, was presented by Selvanathan. This featured the new Excel data loading templates and ax add in for Excel, and also touched on purchase, project and detailed manpower planning features.

The session concluded with a review of Management Reporter features, that was delivered by Saravanakumar with many examples of reports. This powerful tool is free for licensed Dynamics Ax users and can also work with Ax 2009 and all versions of Ax 2012. . However the install does need to be serialised. This will now become the de facto GL report writer for Dynamics Ax and the GL report writer will be phased out. (FRX has already been phased out).

A packed session that still only scratches the surface of this new release which has more additional code than the whole of Ax 2009! Synergy Software Systems is on the Microsoft Council and was able to participate in the beta release TAP programme and to feedback product enhancement suggestions so already has consultants trained in the new functionality.

A big ‘Thank you’ to all the presenters – not only for the presentations but also for the significant pre seminar preparation, and also to the Synergy administration and IT teams who helped ensure everything went off smoothly. We also appreciate Microsoft hosting the event.

Finally thank you to all those who attended – we know you all have demanding roles and are busy and we appreciate your interest and the participation and questions.

If not before, then we will see you at Gitex.

Dynamics Ax 2012 R3 – free seminar 23 June Microsoft offices Dubai

June 22nd, 2014

Your chance to see some of the new features of Ax 2012 R3. Due to the great interest in this seminar response we have secured a larger meeting room and can now accept some last minute bookings.

As a member of the Microsoft Council Synergy Software Systems participates in early beta release testing of new releases. Let our experienced consultants show you just a few of the new features:

Mobility and new warehouse features
New Budget and Consolidation processes
Management Reporter
Synergy’s own localised Payroll module
Mobile apps
Understand the changes to licensing, and database structures and what to consider when installing and upgrading.

call Bindu 0097143365589

Prophix CPM free seminar 23 June Dubai – last chance

June 22nd, 2014

There is still time to register for our Corporate Performance Management Seminar:
Hear about the CPM maturity model
Find out how industry research shows that leading companies have a significant edge over competitors because they have implemented CPM systems
See a live demonstration of Prophix and understand how it can be implemented with low TCO
Put control back in the Office of the CFO with a configurable wizard driven CPM system with powerful workflow, analysis, reporting , and audit trail feature.
Detailed manpower plan
Same application all modules included in one application.

Now available on mobile devices.

Middle East Bank Regulatory reporting getting tougher.

June 22nd, 2014

I have just returned from what is becoming a regular trip to Kuwait after also meeting with man\y banks in Abu Dhabi and Dubai. Meetings with many of the banks has highlighted the increasing burden of regulatory reporting driven by a zealous Central Bank and imminent new Basel lll requirements.

This month there have been statements and white papers from Central Banks in the region to notify that to ensure sound banking practices are enforced.
the regulations will get tougher as the year progresses

The need for comprehensive Regulatory Capital Compliance in the Middle East is similarly seen in KSA where an implementation date for Basel iii was announced as long back as January 1 2013, with its regulated banks due to report under Basel iii in due course.

This change in the regulatory landscape, together with its ambitious commercial
strategy and wish to become internal ratings-based (iRB) compliant, challenges the way banks manage regulatory capital data, and the capital calculations.

Over the last 6 months it is evident that banks are increasingly aware that for regulatory reporting. the current largely manual compliance and reporting processes need to be automated, to enhance the timeliness, efficiency and accuracy of regulatory capital calculations and regulatory reports.

Part of the challenge is that core banking systems were not designed to generate such returns. Data is typically spread across multiple back office systems and spreadsheets. Another challenge is that banks that operate internationally may need to report the same data to multiple regulatory authorities in different reporting templates. Central banks are also looking to automate their own regulatory reporting efficiency and there is a gradual move to digital reporting e.g. via XBRL format.

Enterprise Data Consolidation into a central data platform is the key to streamlined and accurate regulatory capital compliance and reporting. Standard Microsoft SQL technologies such as SSAS, SSIS, and SSRs can then manage the ETL process and data validation and aggregation. Risk and other calculation engines with built-in calculations for Basel ii and Basel lll compliance provide a single platform for reporting. The required data can then be surfaced from underlying data cubes into specific central bank formats, typically in Excel.

It is not efficient for each bank to have to study complex regulations and to each develop the same report, in discrete systems that are individually maintained. Banks need a productized, out-of-the-box solution ,which embodies: approvals, audit trails, and kpi dashboards, and industry standard security, built on a standard configurable framework. This provides a common platform for support, and makes it much easier to introduce report modifications and even new reporting requirements.

Central bank regulatory requirements are essentially the same globally and reflect international compliance to accords like Basel ll and FATCA, COREP and FINREP etc. This means the underlying data model can also be common, though local calculations and report output formats. With a common model , report format changes can be incorporated by the software author to the benefit of all. This not only reduces the cost, time and risks of implementing a regulatory compliance solution but also the ongoing maintenance and the need to incorporate new reporting requirements.

in addition to streamlining compliance, automating regulatory capital management helps to augment overall business management. The underlying data warehouse can also be used to create internal MIS reports. Consolidated regulatory capital data allows a bank to fully reconcile its risks with its balance sheet. This single version of the truth enables the bank’s senior management to understand its risks, and to ensure the bank is properly capitalized to meet the needs of both the regulator and the business.

An SSAS data warehouse allow powerful data ‘drill down’ to understand the breadth and depth of the risks that banks manage and how these change over time. Managers are fully informed, to take risk-based decisions, based on the bank’s business strategy.

BRSAnalytics is a purpose built solution for regulatory compliance and management control. It is not a BI tool that has been adapted. It is a purpose built solution that embeds regulatory knowledge and is built on industry standard technology. Such a system helps a bank’s directors to meet their personal Corporate governance obligations. it provides key stakeholders and management a comprehensive toolset to manage its risks, its capital and its business strategy.
The solution is proven over the last 7 years with 100% implementation success.

“By automating the process of data gathering, it has significantly reduced time spent on otherwise unnecessary internal regulatory computation maintenance.”
Alan Bartoli, ICT & Operations Officer (Izola Bank plc)

In holding in-depth discussions regarding BRSANALYTICS, it was evident that the solution was well thought out and backed by a knowledgeable implementation team with the necessary expertise to cater for our regulatory needs. The simple fact that it condenses all the data to produce one single accurate report made it the obvious choice in treating this monthly burden with confidence and efficiency.”
Anthony Schembri, Managing Director (Raiffeisen Bank)

Ask for a copy of the Fimbank Case Study:
“…providing a wealth of functionality such as drill-downs”
“…enable business users to analyse and respond to regulators’ queries”
“…Drastic Reduction of Data Collation and Verification Time”
“…the Bank has been able to dramatically reduce the time it took to prepare regulatory reports by at least gaining 75% efficiency”
“…now, we are able to do the same process in a fraction of the time. This is remarkable”
“…This has given its members the time to focus on primarily ensuring a more qualitative output and submission to Regulators”
“…I’m very happy to say that because of BRSANALYTICS, we have achieved this goal”
“…Better Insight”
“…Easy Localisation”
“…deploying the solution has proven to be a game changer”
“…we are now able to focus on other important assignments”
“…gain better insight on our financial activities, be more productive and improve our decision making due to the use of business analytics

Dynamics Ax 2012 R3 – free Synergy Software Systems seminar Dubai 23 June 2014

June 21st, 2014

Meet us at Microsoft Gulf offices, DIC. for an afternoon seminar on 23 June 2014. Learn about some of the many new features in the latest release

See the mobile warehouse features
See the new mobile apps
See the enhanced budget processes
See the power of Management Reporter
See our powerful local Payroll in Dynamics Ax
Understand what to consider before upgrade
Understand how recent license changes makes Dynamics Ax TCO lower
Last chance to take advantage of year end license discounts (new prices due 1 July)

Meet with Synergy Software Systems Dynamics Ax management and consultants – the oldest Ax partner in the region, Members of AxPact.

As members of the Microsoft Council we were involved in the pre-release beta testing if Ax 2012 R3 (which has more additional code than the entire Ax 2009 release!)

Find our why working together’ makes a difference to project success and on going support.

If you have not yet registered then please contact:
Bindu 0097143365589

Speed limit reduction – Abu Dhabi-Dubai E10

June 18th, 2014

A decision by the Joint Safety and Traffic Solutions Committee in Abu Dhabi, reducing the speed limit for light vehicles on the Abu Dhabi-Dubai highway to 121kmph, came into place this week.

The Abu Dhabi–Al Shahama main road (E10) will be reduced from 141 kmph
Radars will be set at 121kmph in both directions from Al Shahama to Sheikh Zayed Bridge, to catch speed violators in both directions. The new speed limit will be in place until the end of expansion works on this section of the highway.

The speed limit will help prevent accidents resulting in deaths and serious injuries, the committee said. The committee called on motorists to adhere to the new speed limit as well to be careful while driving. Earlier, Khalid Rashid Al Suwaidi, Surface Transport Adviser and Acting General Director at the Department of Transport, commented that Abu Dhabi-Shahama road works have led to reducing the number of lanes from four to three, which necessitated the need for temporarily reducing the maximum speed on the road.