Robert Kugel's Analyst Perspectives

Modern ERP Improves Organizational Performance

Posted by Robert Kugel on Apr 16, 2021 3:00:00 AM

The ERP system is at the core of nearly every organization’s record keeping and business process management. Its smooth and uninterrupted functioning is essential to an organization’s accounting and finance functions. In manufacturing and distribution, ERP manages inventory and logistics. Some organizations use it to handle human resources functions like tracking workers, payroll and related costs.

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Topics: Office of Finance, Financial Performance Management, ERP and Continuous Accounting, robotic finance

IBM Planning Analytics Makes Planning Easier for Business Unit Leaders

Posted by Robert Kugel on Apr 13, 2021 3:00:00 AM

IBM Planning Analytics, formerly known as TM1, is a comprehensive planning and analytics application designed to integrate and streamline an organization’s planning processes. It can support multiple planning use cases on a single platform, including financial, headcount, sales and demand planning. The software automates enterprise-wide data collection to make it repeatable and scalable across multiple users and departments. It supports sophisticated driver-based modeling that enables rapid what-if or scenario-based planning, while its built-in analytics provide deep business intelligence capabilities. This enables senior executives and managers to work interactively to immediately assess their current position and consider the impact of various options to address opportunities and issues rather than laboring through a lengthy process.

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Topics: Office of Finance, embedded analytics, Analytics, Business Intelligence, Collaboration, Business Planning, ERP and Continuous Accounting, Predictive Planning, AI and Machine Learning

Trintech Speeds up Financial Close with Automation

Posted by Robert Kugel on Apr 9, 2021 3:00:00 AM

Organizations have long sought ways to achieve a fast but “clean” (accurate) financial close. The most widely accepted benchmark is to be able to close within one business week. Organizations that close within a business week are almost always more competent in how they manage the process and therefore use resources more efficiently. Also, organizations that close their books within six days after the end of the quarter are more likely to provide executives with timely information and respond to markets and competitors with greater agility. While there have been some improvements in efficiency from modern accounting systems, our research shows that one-half of organizations still take more than a business week to complete their quarterly close.

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Topics: Office of Finance, Business Planning, ERP and Continuous Accounting, robotic finance

A Virtual Audit Enables Savings Through Efficiency

Posted by Robert Kugel on Apr 5, 2021 3:00:00 AM

The challenges of the pandemic prevented auditors from visiting client offices, which led to widespread adoption of remote audit processes. Although there are outward similarities between a remote audit and a virtual audit, they aren’t the same. A remote audit uses technology to adapt the existing audit processes to an environment where in-person interactions are impossible. A virtual audit uses technology to redefine and streamline how auditors conduct an annual audit.

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Topics: Office of Finance, Financial Performance Management, ERP and Continuous Accounting, digital finance

Streamlining Spending for Savings and Control

Posted by Robert Kugel on Apr 2, 2021 3:00:00 AM

Irked by the need to account for every penny of his college expenses, poet Robert Frost penned the lines:

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Topics: Office of Finance, Financial Performance Management, ERP and Continuous Accounting, digital finance