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.
Topics: Analytics, Business Analytics, Business Performance Management (BPM), Corporate Governance, Financial Governance, Financial Performance Management (FPM), Governance Risk and Compliance, GRC, Information Management (IM), Operational Performance Management (OPM), Reconciliation, Sungard, Office of Finance, Business Intelligence, CFO
One of the many interesting findings that came out of Ventana Research’s comprehensive benchmark research on business analytics was partly buried in an analysis of maturity groups. The Maturity Index of our research benchmarks classifies organizations at four maturity levels (from bottom to top, Tactical, Advanced, Strategic and Innovative) in each of four categories: People, Process, Information and Technology. We’ve conducted more than 100 benchmarks during the past seven years, covering thousands of organizations and gauging their maturity in performing important operations. We’ve consistently found an interrelationship among the people, process, information and technology dimensions in every major business issue. That is, companies that fall short in one dimension tend to fall short in others, and usually to the same degree, precisely because corporate pathologies are self-reinforcing.
Topics: Business Analytics, Business Collaboration, Business Intelligence, Business Mobility, Business Performance Management (BPM), Business Technology, Cloud Computing, Collaboration, Customer Performance Management (CPM), Enterprise Software, Financial Performance Management (FPM), Information Management (IM), Information Technology, IT Performance Management (ITPM), Mobility, Operational Intelligence, Operational Performance Management (OPM), Sales Performance Management (SPM), Social Media, Supply Chain Performance Management (SCPM), Workforce Performance Management (WPM), CIO
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.
Topics: Analytics, Business Performance Management (BPM), Corporate Governance, Financial Performance Management (FPM), Governance Risk and Compliance, GRC, Information Management (IM), IT Performance Management (ITPM), Operational Performance Management (OPM), SAP, Office of Finance, Business Intelligence, CFO
The hospitality industry has a complex structure. It is highly fragmented, with many small operations but also a significant number of global companies. Moreover, a property can be managed by one company (the brand name over the door) yet owned by another, which might be a one-off local real-estate partnership or a larger-scale owner of multiple sites. The consumer side of hospitality has its own challenges as well, resulting from the dramatic shifts brought about by the Internet in how people worldwide buy travel and leisure services.
Topics: Analytics, Business Performance Management (BPM), Customer Performance Management (CPM), Enterprise Software, Hospitality, Infor, Information Management (IM), Operational Performance Management (OPM), Performance Management, Sales Performance Management (SPM), Business Intelligence, CIO