Using information technology to make data useful is as old as the Information Age. The difference today is that the volume and variety of available data has grown enormously. Big data gets almost all of the attention, but there’s also cryptic data. Both are difficult to harness using basic tools and require new technology to help organizations glean actionable information from the large and chaotic mass of data. “Big data” refers to extremely large data sets that may be analyzed computationally...
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Topics:
Big Data,
Data Science,
Planning,
Predictive Analytics,
Social Media,
FP&A,
Office of Finance,
Operational Performance Management (OPM),
Budgeting,
Connotate,
cryptic,
equity research,
Finance Analytics,
Human Capital,
Kofax,
Statistics,
Analytics,
Business Analytics,
Business Intelligence,
Customer Performance Management (CPM),
Data,
Datawatch,
Financial Performance Management (FPM),
Kapow,
Sales Performance Management (SPM),
Supply Chain Performance Management (SCPM),
Strata+Hadoop
The imperative to transform the finance department to function in a more strategic, forward-looking and action-oriented fashion has been a consistent theme of practitioners, consultants and business journalists for two decades. In all that time, however, most finance and accounting departments have not changed much. In our benchmark research on the Office of Finance, nine out of 10 participants said that it’s important or very important for finance departments totake a strategic role in running...
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Topics:
Big Data,
Planning,
Predictive Analytics,
Social Media,
Governance,
GRC,
Mobile Technology,
Office of Finance,
Budgeting,
close,
Continuous Accounting,
Continuous Planning,
end-to-end,
Human Capital,
Tax,
Analytics,
Business Analytics,
Business Collaboration,
CIO,
Cloud Computing,
In-memory,
Uncategorized,
Business Performance Management (BPM),
CFO,
CPQ,
Financial Performance Management (FPM),
Risk,
CEO,
Financial Performance Management,
FPM
The steady march of technology’s ability to handle ever more complicated tasks has been a constant since the beginning of the information age in the 1950s. Initially, computers in business were used to automate simple clerical functions, but as systems have become more capable, information technology has been able to substitute for increasingly higher levels of human skill and experience. A turning point of sorts was reached in the 1990s when ERP, business intelligence and business process...
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Topics:
Sustainability,
ERP,
GRC,
Office of Finance,
audit,
finance transformation,
Human Capital,
LongView,
Tax,
Analytics,
Business Analytics,
Governance, Risk & Compliance (GRC),
Oracle,
Business Performance Management (BPM),
CFO,
Financial Performance Management (FPM),
Vertex,
FPM,
Innovation Awards,
Thomson-Reuters multinational
Supply and demand chain planning and execution have grown in importance over the past decade as companies have recognized that software can meaningfully enhance their competitiveness and improve their financial performance. Sales and operations planning (S&OP) is an integrated business management process first developed in the 1980s aimed at achieving better alignment and synchronization between the supply chain, production and sales functions. A properly implemented S&OP process routinely...
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Topics:
Planning,
SaaS,
Sales,
Forecast,
Mobile Technology,
Operational Performance Management (OPM),
Human Capital,
Supply Chain Planning,
Analytics,
Business Analytics,
Business Collaboration,
Cloud Computing,
Business Performance Management (BPM),
Financial Performance Management (FPM),
Sales Performance Management (SPM),
Sales Planning,
Supply Chain,
Supply Chain Performance Management (SCPM),
Demand Chain,
Integrated Business Planning,
SCM Demand Planning,
S&OP
Workday Financial Management (which belongs in the broader ERP software category) appears to be gaining traction in the market, having matured sufficiently to be attractive to a large audience of buyers. It was built from the ground up as a cloud application. While that gives it the advantage of a fresh approach to structuring its data and process models for the cloud, the product has had to catch up to its rivals in functionality. The company’s ERP offering has matured considerably over the...
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Topics:
Microsoft,
SAP,
ERP,
FP&A,
NetSuite,
Office of Finance,
Operational Performance Management (OPM),
Reporting,
close,
closing,
Controller,
dashboard,
Human Capital,
Reconciliation,
Tax,
Analytics,
Business Intelligence,
Cloud Computing,
Collaboration,
IBM,
Oracle,
Uncategorized,
Business Performance Management (BPM),
CFO,
Data,
finance,
Financial Performance Management (FPM),
Financial Performance Management,
FPM,
Intacct
The enterprise resource planning (ERP) system is a pillar of nearly every company’s record-keeping and management of business processes. It is essential to the smooth functioning of the accounting and finance functions. In manufacturing and distribution, ERP also can help plan and manage inventory and logistics. Some companies use it to handle human resources functions such as tracking employees, payroll and related costs. Yet despite their ubiquity, ERP systems have evolved little since their...
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Topics:
Big Data,
Microsoft,
SAP,
Social Media,
ERP,
FP&A,
Mobile Technology,
NetSuite,
Office of Finance,
Operational Performance Management (OPM),
Reporting,
close,
closing,
Controller,
dashboard,
Human Capital,
Reconciliation,
Analytics,
Business Intelligence,
Cloud Computing,
Collaboration,
IBM,
Oracle,
Uncategorized,
Business Performance Management (BPM),
CFO,
Data,
finance,
Financial Performance Management (FPM),
Supply Chain Performance Management (SCPM),
Financial Performance Management,
FPM,
Intacct
Tidemark Systems offers a suite of business planning applications that enable corporations to plan more effectively. The software facilitates rapid creation and frequent updating of integrated company plans by making it easy for individual business functions to create their own plans while allowing headquarters to connect them to create a unified view. I coined the term “integrated business planning” a decade ago to highlight the potential for technology to substantially improve the...
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Topics:
Planning,
Predictive Analytics,
Customer Experience,
Marketing Planning,
Reporting,
Budgeting,
Human Capital,
Analytics,
Business Analytics,
Business Collaboration,
Business Mobility,
Cloud Computing,
Governance, Risk & Compliance (GRC),
Business Planning,
Customer Performance Management (CPM),
Financial Performance Management (FPM),
Sales Performance Management (SPM),
Supply Chain Performance Management (SCPM),
Tidemark,
Workforce Performance Management (WPM),
Demand Planning,
Integrated Business Planning,
Project Planning
Whatever Oracle’s cloud strategy had been the past, this year’s OpenWorld conference and trade show made it clear that the company is now all in. In his keynote address, co-CEO Mark Hurd presented predictions for the world of information technology in 2025, when the cloud will be central to companies’ IT environments. While his forecast that two (unnamed) companies will account for 80 percent of the cloud software market 10 years from now is highly improbable, it’s likely that there will be...
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Topics:
Microsoft,
Predictive Analytics,
SAP,
ERP,
FP&A,
Mobile Technology,
NetSuite,
Office of Finance,
Operational Performance Management (OPM),
Reporting,
close,
closing,
Controller,
dashboard,
Human Capital,
Tax,
Analytics,
Business Collaboration,
Business Intelligence,
Cloud Computing,
Collaboration,
IBM,
Oracle,
Business Performance Management (BPM),
CFO,
Customer Performance Management (CPM),
Data,
finance,
Financial Performance Management (FPM),
Sales Performance Management (SPM),
Supply Chain Performance Management (SCPM),
Financial Performance Management,
FPM,
Intacct,
Spreadsheets
Many senior finance executives say they want their department to play a more strategic role in the management and operations of their company. They want Finance to shift its focus from processing transactions to higher-value functions in order to make more substantial contributions to the success of the organization. I use the term “continuous accounting” to represent an approach to managing the accounting cycle that can facilitate the shift by improving the performance of the accounting...
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Topics:
ERP,
FP&A,
Office of Finance,
Reporting,
close,
closing,
Controller,
dashboard,
Tax,
Analytics,
Business Intelligence,
Cloud Computing,
Collaboration,
Business Performance Management (BPM),
CFO,
Data,
finance,
Financial Performance Management (FPM),
Financial Performance Management,
FPM,
Spreadsheets
The theme of transforming the finance organization is hot again. The term “finance transformation” refers to the longstanding objective of shifting the focus of finance departments from transaction processing to more strategic activities such as providing the rest of the organization with forward-looking analysis. I focus on the technology and data aspects of this type of business issue in these analyst perspectives because they are usually essential to achieving some business objective....
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Topics:
Performance Management,
continuous improvement,
Controller,
Analytics,
Business Performance Management (BPM),
CFO,
Financial Performance Management (FPM)