Robert Kugel's Analyst Perspectives

Tagetik Advances Disclosure Management for Office of Finance

Posted by Robert Kugel on Jul 16, 2014 9:05:58 AM

Tagetik provides financial performance management software. One particularly useful aspect of its suite is the Collaborative Disclosure Management (CDM). CDM addresses an important need in finance departments, which routinely generate highly formatted documents that combine words and numbers. Often these documents are assembled by contributors outside of the finance department; human resources, facilities, legal and corporate groups are the most common. The data used in these reports almost always come from multiple sources – not just enterprise systems such as ERP and financial consolidation software but also individual spreadsheets and databases that collect and store nonfinancial data (such as information about leased facilities, executive compensation, fixed assets, acquisitions and corporate actions). Until recently, these reports were almost always cobbled together manually – a painstaking process made even more time-consuming by the need to double-check the documents for accuracy and consistency. The adoption of a more automated approach was driven by the requirement imposed several years ago by United States Securities and Exchange Commission (SEC) that companies tag their required periodic disclosure filings using eXtensible Business Reporting Language (XBRL), which I have written about. This mandate created a tipping point in the workload, making the manual approach infeasible for a large number of companies and motivating them to adopt tools to automate the process. Although disclosure filings were the initial impetus to acquire collaborative disclosure management software, companies have found it useful for generating a range of formatted periodic reports that combine text and data, including board books (internal documents for senior executives and members of the board of directors), highly formatted periodic internal reports and filings with nonfinancial regulators or lien holders.

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Topics: Mobile, ERP, forecasting, Modeling, Reporting, Budgeting, close, closing, Consolidation, Controller, Finance Financial Applications Financial Close, IFRS, multinational Tagetik, process management, report, strategy, XBRL, Analytics, Business Analytics, Business Intelligence, Governance, Risk & Compliance (GRC), Accounting, Business Performance Management (BPM), CFO, Chief Financial Officer, compliance, Data, Financial Performance Management (FPM), benchmark, Financial Performance Management, financial reporting, FPM, GAAP, Integrated Business Planning, Profitability, SEC Software, spreadsheet

Oracle Hyperion Products Challenged by New Generation of Expectations

Posted by Robert Kugel on Oct 16, 2013 7:23:32 AM

Oracle continues to enrich the capabilities of its Hyperion suite of applications that support the finance function, but I wonder if that will be enough to sustain its market share and new generation of expectations. At the recent Oracle OpenWorld these new features were on display, and spokespeople described how the company will be transitioning its software to cloud deployment. Our 2013 Financial Performance Management Value (FPM) Index rates Oracle Hyperion a Warm vendor in my analysis, ranking eighth out of nine vendors. Our Value Index is informed by more than a decade of analysis of technology suppliers and their products and how well they satisfy specific business and IT needs. We perform a detailed evaluation of product functionality and suitability-to-task as well as the effectiveness of vendor support for the buying process and customer assurance. Our assessment reflects two disparate sets of factors. On one hand, the Hyperion FPM suite offers a broad set of software that automates, streamlines and supports a range of finance department functions. It includes sophisticated analytical applications. Used to full effect, Hyperion can eliminate many manual steps and speed execution of routine work. It also can enhance accuracy, ensure tasks are completed on a timely basis, foster coordination between Finance and the rest of the organization and generate insights into corporate performance. For this, the software gets high marks.

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Topics: Mobile, Planning, Social Media, ERP, forecasting, Modeling, Reporting, Budgeting, close, closing, Consolidation, Controller, driver-based, Finance Financial Applications Financial Close, Hyperion, IFRS, multinational Oracle, process management, report, strategy, Tax, tax department, tax optimization, tax planning, XBRL, Analytics, Business Analytics, Business Intelligence, CIO, Cloud Computing, In-memory, Oracle, Accounting, Business Performance Management (BPM), CFO, Chief Financial Officer, compliance, Data, Financial Performance Management (FPM), benchmark, Financial Performance Management, financial reporting, FPM, GAAP, Integrated Business Planning, Price optimization, Profitability, SEC Software, spreadsheet

SunGard IntelliMatch: Financial Governance and Reconciliations

Posted by Ventana Research on Mar 25, 2011 7:17:28 AM

Back-office operations in commercial and investment banks are among those critical functions that are underappreciated until they stop working well. This includes transaction reconciliations and the related exceptions management. Reconciliations are necessary to achieve a reasonable assurance of complete and accurate record of trading activity. The process is especially challenging now, partly because of today’s high and growing volumes in the wide range of asset classes in which all larger financial institutions trade. Reconciliation is a necessary accounting function that has to be completed before external financial statements can be published.

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Topics: GRC, Operational Performance Management (OPM), Financial Governance, Reconciliation, Sungard, Analytics, Business Analytics, Business Intelligence (BI), Business Performance Management (BPM), Chief Financial Officer, Financial Performance Management (FPM), Information Management (IM), risk management, Corporate Governance, Governance Risk and Compliance

SAP Solidifies Software Category with SAP BusinessObjects GRC 10.0

Posted by Robert Kugel on Mar 18, 2011 7:47:06 AM

When the term “governance, risk and compliance” (GRC) was introduced almost 10 years ago, software for this purpose was not a real category but a loose grouping of disparate applications that had something to do with meeting the requirements of the recently passed Sarbanes-Oxley Act. (You can find my perspective on the GRC category from a couple of years ago here. Now, with the release 10.0 of SAP BusinessObjects GRC, SAP is taking another step toward making the software category a real, comprehensive one that addresses the business and IT requirements of risk and compliance management efforts. This is the first platform that enables companies to efficiently provision risk and compliance management at an elemental level (for example, to manage individual access controls and process controls) and – over time – to gain effectiveness benefits from having the ability to comprehensively manage compliance and risk.

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Topics: SAP, GRC, Operational Performance Management (OPM), Access Controls, Analytics, Business Intelligence (BI), Business Performance Management (BPM), Chief Financial Officer, Financial Performance Management (FPM), Information Management (IM), IT Performance Management (ITPM), risk management, Corporate Governance, Governance Risk and Compliance

XBRL Filing Errors Point to Need for Automation through Technology

Posted by Robert Kugel on Nov 27, 2010 12:45:15 PM

The US Securities and Exchange Commission’s (SEC) “Interactive Data” initiative continues to progress forward. Thus far, some 1,500 corporations have filed their financial information using XBRL tags to facilitate review and analysis, of which almost 400 have had done detailed tagging of their footnotes. By June 2011 all public companies will have to provide an XBRL-tagged, interactive version of their financial statements. As I’ve noted in the past, I think companies should find ways to automate the XBRL tagging process to make it as efficient as possible and make this a part of a close-to-report process automation effort that can lower the cost of compliance, and give companies more time to review the substance (not just the details) of their filings.

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Topics: Accounting and Finance, XBRL, Business Technology, Business Performance Management (BPM), Chief Financial Officer, Financial Performance Management (FPM), IT Performance Management (ITPM), Corporate Finance, Financial Performance Management

What is the Value of Your Financial Performance Management Software?

Posted by Robert Kugel on Nov 27, 2010 12:42:31 PM

Ventana Research has just announced its Value Index for Financial Performance Management (FPM) for 2010. Our value indexes are user-focused assessments of how well software vendors and packages enable companies to improve their execution of core processes. This one is designed to help businesses, especially the finance organization, evaluate the FPM software suites offered by major vendors in the context of their specific needs. Ventana Research defines financial performance management as the practice of managing the efficiency and effectiveness of financial processes including analytics, budgeting, consolidation, planning, reporting and strategy. The methodology we use to produce the Value Indexes involves evaluating in detail aspects of product functionality and suitability-to-task as well as the effectiveness of vendor support for the buying process and customer assurance.

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Topics: ERP, Accounting and Finance, Financial Applications, Business Technology, Business Performance Management (BPM), Business Planning, CFO, Chief Financial Officer, finance, Financial Performance Management (FPM), Corporate Finance, Financial Performance Management

Corporations Must Manage Taxes More Intelligently

Posted by Robert Kugel on Nov 27, 2010 12:02:12 PM

For the past couple of years I’ve been asserting that most larger companies (those with 1,000 or employees) need to adopt a new approach to using software to handle their taxes comprehensively, both the direct sort (income taxes) and the indirect variety (sales and use taxes as well as value-added or goods and services taxes). This is a necessary response to an emerging challenge from more competent and determined tax enforcement by governments worldwide. It will require corporations to make changes in how they employ software to manage their taxes, structure their tax-related data and manage their tax processes. Increasingly, corporations will need to have better control over the way they manage tax data, calculate taxes and handle associated processes so they can minimize their tax liabilities and their tax risk exposure.

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Topics: Accounting and Finance, Enterprise Tax, Tax Software, Business Performance Management (BPM), Chief Financial Officer, Financial Performance Management (FPM), Corporate Finance, Financial Performance Management, International Finance