Unleashing the true value of the finance team across the organization is a challenging task. Why? Because it requires CFOs and finance executives to examine and re-tool their people, their processes and systems. And the examination of finance processes and systems should span everything. From operational systems such as ERP, HCM, CRM and Supply Chain – to corporate performance management (CPM) systems and processes such as financial close and consolidation, reporting, planning, forecasting and analysis.
Delivering the right information in the right format, at the right time is a key requirement in today’s volatile business environment. Yet many organizations struggle in meeting the increasingly demanding information requirements of executives and managers due to reliance on spreadsheets and legacy reporting tools. These approaches create latency in reporting, don’t provide the required insights, and prevent agile decision-making. Legacy reporting tools often require reliance on IT staff to create new reports and views of the business and don’t support finance autonomy.