Finance leaders believe data management is a burden on businesses. Yet less than half of organisations have a data management strategy in place. But data management strategies positively impact security across all lines of business.
Poor data management practices inevitably lead to poor outcomes, with bad decisions based on bad data. Data must also be protected, with weak practices leading to cyber breaches. And the reputational damage to an organisation’s brand cannot be underestimated. However, when managed well, data offers a competitive advantage. In the past, data was typically informed historical reporting, with internal needs and compliance taking priority.
There is a new data paradigm. Data is the new currency in the digital age.
Financial services firms are turning to Business Spend Management (BSM) as a Strategic Solution
Beset by competitors and burdened by ever-shifting regulatory requirements, financial services firms are turning to cloud-based technology to gain better control over—and visibility into—spending. In the process, they are becoming fiercer competitors.
Download this ebook for insights into how you can improve your organization's financial health and how:
A cloud complete-BSM solution can track and measure all purchasing activities, identifying patterns that provide opportunities for negotiating discounts, and better managing risk
To increase savings across source-to-contract, procure-to-pay, travel & expense management, as well as risk and supplier management
Modern technology enables the finance function to take cost-management to a deeper level—without investing in IT infrastructure
Today it's easy for customers to leave, and they have fewer reasons to stay. In saturated telecom markets, competitors offer similarly high levels of coverage and service. Years of price-based competition have left little room for differentiation and margins are stretched thin.
Complexity, globalization and digitalization are just some of the elements at play in the risk landscape—and data is becoming a core part of understanding and navigating risk.
How do modern finance leaders view, navigate and manage enterprise risk with data? Dun & Bradstreet surveyed global finance leaders across industries and business types. Here are the top trends that emerged from the study:
1. The Enterprise Risk & Strategy Disconnect—Finance leaders are using data and managing risk programs, but over 65% of finance leaders say there’s missing link between risk and strategy.
2. The Risks of the Use and Misuse of Data—Up to 50% of the data used to manage modern risk is disconnected. Only 15% of leaders are confident about the quality of their data.
3. Risky Relationships—Only 20% of finance leaders say the data they use to manage risk is fully integrated and shared.
Download the study to learn how finance leaders are approaching data and enterprise risk management
The need for closer collaboration between finance and HR has never been more important. Finance has become the co-pilot to the business, providing the forward-looking guidance management needs to capitalize on the next market opportunity. HR plays an essential role in ensuring that the business has the talent it needs to execute on digital strategies, and create a change-ready culture. Oracle commissioned new research by MIT Technology Review Custom, called Finance and HR: the Cloud’s New Power Partnership, to understand how closer collaboration between Finance and HR could support digital transformation and unlock new benefits.
Healthcare organizations are facing uncertain times, which are putting enormous strains on their revenue cycle management (RCM). Automation is proven to improve RCM measures, and even small improvements can significantly impact the bottom line. This whitepaper details how providers can embrace automation to help drive financial performance.
Children’s Mercy is not only one of the nation’s top pediatric medical centers, they have a strategy that improves organizational profitability in the face of constant change – all while delivering world-class care for their patients. Children’s Mercy accomplished what many have tried: integrating hospital and ambulatory revenue cycle activities with complete integration of all processes on a single IT platform.
Sharp is leading the way in the shift to shared risk. In this journey, they manage to the right financial metrics while still delivering appropriate care to their patient population. Watch the video to learn how GE Healthcare is helping Sharp make a difference.
The shift to value-based reimbursement (VBR) entails more financial risk for providers. Successful management of the transition to VBR can only be achieved when healthcare organizations are clinically and financially integrated to ensure tight care coordination and efficient resource utilization. That level of integration requires the aid of a robust IT infrastructure to support the enterprise. This whitepaper offers the opportunity to learn about new tools for healthcare providers to manage financial challenges associated with value-based reimbursement
This paper will explore some of the market dynamics driving the financial volatility in healthcare and will explore how advanced analytics, with the right IT backbone and organizational competencies, can help organizations successfully identify ways to manage revenue cycle profitability.
Cloud services are poised to boost US GDP by $2 trillion over the next decade, according to new research commissioned by Oracle—but not every firm will benefit. In Intelligent Finance: How CFOs Can Lead the Coming Productivity Boom, Dr. Michael Mandel, senior fellow at the Mack Institute for Innovation Management at the Wharton School, shares how finance leaders across industries can help their organizations benefit from the coming wave of US productivity using cloud services—and the emerging technologies and global best practices they deliver.
Published By: Prophix
Published Date: Jun 03, 2016
For an increasing number of organizations, enterprise performance management (EPM) tools are enabling senior finance executives to integrate plans, understand where they're losing money, move from annual budgets to rolling forecasts, and identify opportunities for strategic improvements. During this Webcast, a panel of experts will explore: • Why business intelligence and business analytics are each important to your business; • How Big Data and analytics can help your organization answer more questions and ask even better ones; • The capabilities that enterprise performance management software offers organizations; and • How to evaluate what your organization can gain by implementing enterprise performance management software.
Even after more than 30 years, it's easy to see why Excel remains so popular. It's flexible, powerful and irreplaceable - especially in finance and accounting. But how well does it work in FP&A today?
That's the question that Vena and the Association of Finance Professionals set out to answer in this objective research-based guide, Making Excel Work for FP&A. From taking advantage of Excel's full feature set, to adopting FP&A software built around Excel, there's no shortage of ways to get the most out of Excel for your FP&A needs.
Based on in-depth research and customer interviews, the annual Nucleus Research Value Matrix map out the corporate performance management (CPM) market landscape, evaluating vendors on a matrix contrasting usability and ease-of-use versus features and depth of functionality.
Read or download the 2018 edition to uncover the most up-to-date CPM landscape, to find the best finance software solution for your needs, and to see why Vena led the pack in usability to land in the Leader quadrant for the third straight year.
The financial system you are running today can probably
trace its heritage back to the ‘80s and ‘90s. Since
then, the needs of finance organisations have changed
dramatically, but financial systems have failed to adapt at
the core. Built to serve only the most basic requirements,
these systems weren’t designed to meet the needs of
today’s finance organisation. With CFOs today facing
requirements very different from those they faced just a
decade ago, Workday believes that finance organisations
need applications built from the ground up based on
today’s needs – not yesterday’s. They need modern
Workday Financials is the only financial management
solution designed in the past ten years that incorporates
the latest technologies, functionality, and design ethics
at the core to address what modern finance
We discuss six key capabilities that separate Workday
Financial Management from old-world business apps.
Published By: Anaplan
Published Date: Mar 05, 2015
Financial consolidation systems are the ‘engine room’ of the corporate finance department, enabling companies of all sizes to comply with regulatory reporting requirements, company law and global accounting standards as well satisfy management’s need for periodic management reporting.
But all is not well with standalone consolidations applications that were developed in the 1990’s and which are still commonplace in some of the world’s largest multinationals.
According to one recent report, 47 percent of companies have made substantial investments in the last year in their financial close, filing, and reporting. Yet, despite the considerable sums
of money invested in the process, management teams across the globe remain dissatisfied with the quality and timeliness of management information.
Today’s increasingly competitive global economy requires businesses to make decisions faster than ever. Businesses need instant insight into the status of their people and processes. But manual, paper-based processes undermine decision-making. Paper makes it difficult for businesses to make smart decisions about their operations and their working capital. Manual processes also are costly and inefficient, create headaches for front-line staff, introduce compliance and security risks, and stymie collaboration with trading partners.
As a strategic framework, ECM can help organizations take control of their content; and, thereby boost productivity, encourage collaboration, help meet compliance initiatives, enable better content-centric processes and make information easier to share.
One of the agency biggest challenges is juggling multiple projects across departments while retaining complete visibility into finances, pipelines and resources management. Most agencies use multiple systems to handle each of these processes. According to The Drum Lab rats, to have “one integrated and user-friendly connected system would be the ideal solution.”
Five leading agencies tested the WorkBook Agency Management system in a recent Drums Labs workshop. Testers quickly discovered the wealth of functionality, the high level of usability and the full integration that WorkBook provides to agency businesses.