Since 2001, PayStream has assisted organizations’ accounting, finance,
and procurement departments to streamline processes, increase
efficiency, and generate growth. The purpose of the majority of these
projects is to assist with the initial RFP for, review of, and final selection
of software solutions. The Navigator began as a straightforward
spreadsheet model used to score solutions on pricing structures,
functional offerings, and how they addressed any unique needs specific
to an organization. Over the course of numerous engagements, it
became clear that there was a sincere market need for a quantifying
tool, and the Navigator became much more.
Published By: Lightower
Published Date: Jan 26, 2017
"In today's always-on world, nothing happens without the network. It sits at the center of everything from cloud services and business app enablement to checking your email in the morning and watching your favorite shows at night. As a leading all-fiber network provider, Lightower delivers the limitless connectivity that makes it all possible.
Watch the video to discover how Lightower connects your world from driving leading technology innovation to powering big business and everything in between."
Most FP&A professionals want five things from a planning and forecast process:
But according to an AQPC report, 30% of Senior Finance professionals are unhappy with their current planning solution.
To ensure that you influence the strategy of your organization, download this white paper for five tips on how to improve your planning and forecasting process.
The Nucleus 2017 CPM Value Matrix analyzed the market for CPM products, evaluated companies and ranked vendors based on what they believe are the most important attributes in allowing customers to gain maximum value from the solution: usability and functionality.
Usability because Business users in the finance department need minimal involvement from IT, and are reticent to learn a drastically new system.
Download the 2017 Nucleus Research to learn more.
Cloud financial corporate performance management solutions help the office of finance manage the financial close and apply appropriate controls throughout the accounting cycle. Application leaders should use this Magic Quadrant to identify vendors that are a good match for their business needs.
The 2017 Gartner Magic Quadrant for Strategic CPM solutions provides valuable insights into the latest market trends, the current Leaders, and key vendor evaluation criteria.
Download the Gartner report to learn:
Why cloud has become the preferred deployment model
Who the key vendors are and how they compare
Why mega vendors no longer dominate the market
Best practices in evaluating and selecting a vendor
According to the report, Benchmarking the Accounting Function 2015, only 56% of companies currently use automation to reconcile accounts. While many finance leaders want to change the process of reconciliation, the task can seem overwhelming.
However, developing a plan does not have to be complicated or time-consuming – and the benefits far outweigh the risks. A smooth, stress-free financial close adds qualitative value to the company by freeing employees to focus on strategic initiatives and ways to grow business.
A CFO’s Guide to Transforming the Financial Close shares how to build a center of excellence to streamline reconciliation so you can align objectives to overall business goals. Leading-edge automation tools can stop the madness of shuffling papers, sorting emails and searching spreadsheets, turning the reconciliation process from a cost center to a value-add for the company.
While being the backbone of many organization’s Offices of Finance and Accounting, it is now commonly acknowledged that this overreliance on Excel spreadsheets coupled with the lack of visibility associated with its use represents a very real risk. With automation available to improve both process efficiency and effectiveness, the challenge many companies face isn’t why they should transform their process but how.
The key to overcoming this challenge is creating a strong business case for investment. One that not only sets out the objectives of the project but is also underpinned by a robust financial analysis, in the form of qualitative and quantitative ROI, and a thorough understanding of risk.
One of the most common things we hear when we speak to companies about improving their financial close process through automation is “But I already have an ERP system.” It’s true that an ERP goes a long way towards helping manage some of the financial close process. However, there is still a great deal of work that is taken outside of the ERP each period end and managed manually.
Trintech is a global software provider with over 1,700 customers in over 100 countries. Across the globe, we focus on delivering value to our customers through local representation to build a community where we are known as a trusted partner to deliver best practice and enable process improvement.
In our previous eBook, “Part 1: Enabling Financial Transformation through Technology,” we examined the “why” of Record to Report transformation and briefly described ‘how” you can achieve this through the implementation of Record to Report technology.
Now that you understand the “why” and the “how” it’s time to put it into action to ensure a successful Record to Report transformation delivery. But first we need to lay the framework, as the majority of you have probably never embarked on a financial transformation journey before or have experience with a technology purchase or implementation of this calibre.
Over the past few years, terms such as: ‘Modern Finance,’ ‘Continuous Accounting’ and ‘Robotic Process Automation’ have all created buzz across the finance industry. These have been launched as a response to the challenges facing finance around attracting and retaining high quality employees, the rising risks due to the difficulty in certifying accurate data, today, and the expectation that finance has a role in driving the business forward.
Typically, Shared Services Center (SSCs) automation initiatives have been undertaken to reduce costs and improve efficiency.
These goals are achieved relatively easily within the first few years, most immediately through reduced labor costs and centralized activities.
In fact, standardization and centralization deliver up to 50% savings. During subsequent phases, technology automation and outsourcing cut costs further. But, if cost reduction is the only clearly defined goal, organizations will reach a point of diminishing returns.
By leveraging Record to Report technology, you can effectively manage the entire R2R cycle in one place with one single view of all your relevant controls. Software not only provides you with the means of collating all this data in a single view, but also can eliminate those white spaces between key control components and enable you to standardize across your business.
In terms of reconciliations, we tend to spend most of our time simply gathering data before we can even begin to think about reconciling it. Once the data is finally in the right format, the majority of our time is then spent manually going through the matching process, rather than spending that time focused on the areas that are most critical to us, as can be seen in the diagram on the right.
The primary objective of any financial transformation project is to achieve process improvements by improving the quality, effectiveness and efficiency of financial information, ultimately enhancing shareholder value.
Take the example of the close process. It would be incredibly simple to shorten the process by adding more people, however, is this an efficient way to reduce the number of days to close? On the right, the Hackett Group displays that best in class companies actually can be seen closing in fewer days, with greater automation and significant lower audit fees, emphasizing the idea that you really can do more with less.
Published By: Datavail
Published Date: Jan 12, 2018
Your enterprise performance management systems like Hyperion are mission critical. If you’re a Hyperion administrator, manager, or even a finance director, you know a crash, bug, or performance issue can delay reporting and take hours or even days to fix. Fortunately, keeping Hyperion running smoothly – and catching these issues before they happen – is not as impossible or time-consuming as you might believe. Join us for this webinar as we explore and debunk 9 misconceptions of Hyperion Performance Management that are keeping you from effectively managing your platform so financial processes run smoothly.
In this on-demand webinar from the Institute of Management Accountants (IMA), Sherri Liao of The Hackett Group and Jim Collins of IBM discuss the steps your organization can take to link financial planning to operational decision making more effectively. You’ll hear about:
Simplifying and amplifying reporting
Optimizing decision-making: Predictive vs. historical analytics
Aligning finance and operations
Reporting beyond finance to include cross-functional measures of performance
The path to building a World-Class finance organization
Published By: OracleSMB
Published Date: Jan 04, 2018
The back-office can drive bottom-line growth. When you leverage financial and planning cloud solutions to improve finance function effectiveness, you increase net income by driving down costs out of your business.
Stop viewing your back-office as a cost center, and leverage it as a foundation for business growth. It is a smart move for today’s competitive marketplace. Learn the five ways to do just that.
Published By: OracleSMB
Published Date: Jan 04, 2018
You may think that your finance group is performing well, but it is critical to always look for ways to improve. Continuous improvement equates to competitive advantage, no matter the department.
Seek out ways to improve the handling of payables and receivables, streamline the procurement process, expedite the financial close process, and effectively analyze all your data.
If you are not sure where to start, read this ebook to learn the four questions you should ask to improve your finance and reporting capabilities and ensure continued growth.
Published By: OracleSMB
Published Date: Jan 04, 2018
Finance has grown beyond recording and reporting. Leaders in fast-growing companies need not only the raw financial data, but the sophisticated analysis to make sense of it all.
In today’s digital world, Finance must move out of the back-office and help drive the direction of the business, as well as improve the bottom line through more efficient processes and increased responsiveness. With the right tools, your finance team can simplify processes and fulfill its goal of adding value.
"Financial services institutions are high-value targets for cyberattacks because of the capital they control, the personal information on customers they maintain, and the fear an attack on a bank generates in the public.
Phishing attacks on FSIs have risen steadily, especially employee credential theft - because once an employee’s credentials are stolen, cyberattackers can access customer information, employee data, even finances.
While legacy security solutions claim to block up to 99.9 percent of cyberattacks, all it takes is one employee or contractor to open an email from an unknown source, download a file from a compromised website, or in any other way fall victim to a cyberattack.
So, it’s time for a new approach: Isolation, also known as, remote browsing.
Download this Financial Services Best Practices Guide to Isolation to learn how to best eliminate phishing attacks and web malware.
Data inundation and information overload have burdened practically every largescale enterprise today, providing great amounts of detail but often very little context on which executives can act. According to the Harvard Business Review, less than half of an organization’s structured data is actively used in making decisions.
The burden is felt profoundly among finance executives, who increasingly require fast and easy access to real-time data in order to make smart, timely, strategic decisions. In fact, 80% of analysts’ time is spent simply discovering and preparing data, and the average CFO receives information too late to make decisions 24% of the time.
In some kinds of more traditional businesses the
finance department tends to swallow as much data
as is thrown at it but only outputs small, measured
and curated amounts of insights periodically: “Here’s
revenue vs target in the last quarter”.
These are undoubtedly essential for proper business
management, But periodic reports also mean it
can be too late for the business to respond. It’s
like driving by looking only in the rear-view mirror.
Looking at what’s behind isn’t going to let you spot a
sudden bend in the road!
Essentially, the highly competitive and evolved
business environment of today requires businesses
to have proactive, indicative business metrics.
Combined with more traditional metrics, these
mean businesses have invaluable and complete
insight in order to evaluate performance.
Proactive, indicative business metrics are found
across most successful businesses–and especially
amongst C-suite employees. These people know
that the benefits are proven. Analytics-driven