Oracle announced significant updates to its Fusion Cloud Supply Chain & Manufacturing (SCM) software at the recently held Oracle Cloud World. The application suite includes procurement, inventory management, warehouse management, order management and transportation management. SCM tasks are mostly small-scale and repetitive, yet the processes they support are far from simple. They involve the intricate choreography of often complex activities that require the accurate communication and...
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Topics:
Operations & Supply Chain,
AI,
Continuous Supply Chain & ERP,
Generative AI,
AI and Machine Learning,
Digital Applications
Artificial intelligence-enabled business applications have advanced considerably over the past year as software providers have added a steady stream of capabilities. This includes customer facing, financial, supply chain and workforce software. ISG Research asserts that by 2027, almost all providers of business applications will use some form of generative AI to enhance capabilities and functionality to remain competitive.
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Topics:
Office of Finance,
Business Planning,
ERP and Continuous Accounting,
digital finance,
Revenue, Lease and Tax Accounting,
Purchasing/Sourcing/Payments,
Consolidate/Close/Report,
AI and Machine Learning
Prophix launched its Prophix One platform earlier this year. CFOs of midsize enterprises should take a look at it because it supports a more effective approach to finance and accounting operations in growing companies. It facilitates the transition of organizations that can no longer make do with work-arounds of existing systems to those with formal, controlled core processes that can be completed faster with reduced risk. The platform performs financial consolidation, account reconciliation...
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Topics:
Office of Finance,
Business Planning,
ERP and Continuous Accounting,
digital finance,
AI and Machine Learning,
Consolidate and Close Management
Sage recently held an analyst summit to take a deeper dive into its product and technology roadmap, complementing sessions it held at its 2024 user group conference that I commented on earlier this year. ERP systems have been central to the operational and financial management of enterprises since they first appeared in the 1990s. They are so familiar that they have become part of the background and only noticeable when something fails. We are now in a major transition to a new era of...
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Topics:
Office of Finance,
ERP and Continuous Accounting
ERP systems have been the central nervous system of enterprises for more than three decades, handling business-critical process management and recordkeeping. While their basic outlines are unchanged, today’s systems are far more capable in their functional depth, adaptability, usability and manageability. Especially for cloud-based systems, they are far easier to maintain. Decades of refinement and focused development to support specific industries, and even specialized categories within these...
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Topics:
Office of Finance,
ERP and Continuous Accounting,
digital finance,
Generative AI,
Procure-to-Pay,
Order-to-Cash
OneStream offers a platform designed to serve the needs of accounting and financial planning and analysis (FP&A) organizations. The software handles financial close and consolidation, planning and budgeting, analysis and reporting. OneStream recently held its annual user conference, Splash, in Las Vegas. In attending this meeting, my focus was on progress the company has made in the areas of predictive artificial intelligence (AI) and generative AI (GenAI) over the past year, since the...
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Topics:
Office of Finance,
Business Planning,
ERP and Continuous Accounting,
digital finance,
AI and Machine Learning,
Financial Consolidation and Close Management
Improving data management is at the forefront of my Office of Finance research practice because, when not managed well, it can have a profoundly negative impact on departmental efficiency, individual performance, organizational agility and sustainability. Conversely, straight-through processing (STP), a business process design and data management methodology, reduces process friction throughout an organization and, by minimizing errors, builds trust in the accuracy and reliability of all data,...
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Topics:
Office of Finance,
ERP and Continuous Accounting,
digital finance,
Procure-to-Pay,
Order-to-Cash
At this stage of the development of Generative AI, there’s much we can see clearly (at least we think we can), but there’s even more likely to surprise us. As that great 20th-century philosopher and hall-of-fame catcher, Yogi Berra, famously said, “It’s tough to make predictions, especially about the future.” The breadth and speed of innovation today in all aspects of GenAI rivals that of the internet in the 1990s, and for the same reason.
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Topics:
ERP and Continuous Accounting,
digital finance,
Generative AI,
Model Building and Large Language Models,
Procure-to-Pay,
Order-to-Cash
I am happy to share insights gleaned from our latest Buyers Guide, an assessment of how well software providers’ offerings meet buyers’ requirements. The Financial Consolidation and Close: ISG and Ventana Research Buyers Guide is the distillation of a year of market and product research by ISG and Ventana Research.
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Topics:
Office of Finance,
Consolidate and Close Management
Until recently, dedicated consolidation software had been a sleepy category. First introduced in the 1980s as a tool designed to run on personal computers (freeing the accounting department from reliance on its IT department), offerings basically achieved feature and function parity by the next decade. The last major technology innovation—moving the software to the cloud—began in the mid-2000s. Cloud-based software reduces the cost and complexity of ownership, making dedicated software a more...
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Topics:
Office of Finance,
ERP and Continuous Accounting,
digital finance,
Generative AI,
Consolidate and Close Management