According to the Gartner Financial Agenda Poll, business growth will be the top enterprise-level objective in 2020, along with achieving operational excellence and executing business transformation. By exploiting data and leveraging automation, CFOs and their teams will be able to focus on what matters most: creating value for their organizations. New technologies, such as Robotic Process Automation, new structures, and above all new skills, such as analytics, are the key to your finance department’s future success.
Finance departments use their expertise to make key decisions for their organizations, from planning the budget to validating investments in new projects. At the same time, they may lack the data analytics skills needed to be most effective. Often Excel is still the main tool, which increases errors and decreases accuracy. According to Gartner, “CFOs identify metrics and management reporting as a top priority for 2020.”
As a CFO, you and your department need state-of-the-art analytics and business intelligence tools that will enable you to leverage your data to make better, faster decisions.
Our clients are facing the same issues, and we have the solutions. We assess your needs and work together to select and implement the right analytics tools. We can equip you and your teams with the necessary capabilities to generate daily automatic reports and empower you with self-service analytics tools and techniques. As your analytics maturity increases, we can collaborate further to identify more value-adding use cases, including predictive analytics and AI. Our experts can accompany you both through implementation and training of your teams, as needed.
Historically, financial departments only worked with financial data. Today they have the opportunity to make use of a larger volume of both internal and external data. Using a data-driven approach, CFOs are striving to increase efficiency across their entire organizations. To accomplish this, the data needs to be accurate. According to Accenture, “Seventy-six percent of CFOs agree that without ‘one version of the truth’ across business units, their organization will struggle to meet its objectives.”
As a CFO, your next challenge is building the right data platform for your organization, enabling you to get real-time data and ensuring its quality. This will become a cornerstone of your company’s digital transformation.
We will ensure that you are successful in this endeavor by working with your finance and IT departments to define your data collection and processing needs. After that, we design the architecture, build the data platform and implement it, so that you can begin getting the most out of your internal and external data assets.
Finance departments still lack the necessary structures for their performance management and business intelligence activities. They spend more time collecting data then exploring it. Management control teams are still using spreadsheets and Excel-based dashboards, which is detrimental to consolidating, tracing, and securing their data and negatively impacts their abilities to collaborate.
Performing the functions of finance and management control, you need effective solutions for managing your company’s performance and simplifying the budgeting construction process.
Our experts work with you to implement a collaborative enterprise performance management solution that reduces risks and increases added value. We automate data collection and consolidation, allowing you to dedicate more time to budget analysis, simulation and monitoring. Our teams have a strong expertise in business, allowing them to accurately assess your needs, define your business models and rules, and deploy the solution that best suits your organization.
Financial departments are used to dedicating most of their precious time to tasks involved in transactions and financial close which are based on manual processes. More and more companies are expecting CFOs and their teams to play the role of partner in improving organizational efficiency and supporting other departments.
As a CFO or manager of a financial department, you need to make use of automation technologies to offload mundane tasks so that effort can be focused on value-adding activities for your organization.
We work with many financial departments that are facing these same issues. Robotic Process Automation technologies are the way to go. We start by identifying the key processes you need to automate. Once the ROI is proven, we define your automation roadmap to manage daily tasks such as accounting operations, accounts payable and payroll. As you gain in maturity, it will no longer be a question of how to automate simple tasks, but rather how to exploit intelligent automation (hyperautomation) to improve productivity and enable employees to drive profits.