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Covid-19 has had a hugely disruptive impact on operational finance. The term ‘operational finance’ encapsulates the critical activities associated with order to cash, procure to pay, fixed assets, close, consolidation, and reporting. Invariably, these activities have seen added stress in 2020. But there’s a balance to be struck.
I recently participated in a web seminar on the Art and Science of FP&A Storytelling, hosted by the founder and CEO of FP&A Research Larysa Melnychuk along with other guests Pasquale della Puca , part of the global finance team at Beckman Coulter and Angelica Ancira , Global Digital Planning Lead at PepsiCo. What typically goes wrong?
That’s not surprising, given the uncertainty of the current global economic climate. High–This is an ongoing issue; solving it could dramatically increase the productivity of our finance team. Executive dashboard linked to ERP and CRM. A lot of companies are taking a cautious approach toward technology investments in 2021.
Far more often, finance teams turn to Microsoft Excel, which offers virtually unlimited flexibility in a tool that is both universally available and highly familiar to business users throughout any organization. Financial planning and analysis encompasses a similar range of tasks within the finance domain.
Event 1 Software delivers award-winning products—such as flagship solutions Office Connector and Liberty Reports—that enable CFOs and finance teams to transform Excel into an intuitive and interactive reporting engine for business data. Terms of the deal were not disclosed. Based in Vancouver, Wash., About insightsoftware.
COVID-19 introduces another level of uncertainty. Lenders use this metric to inform financing decisions, which many utilities will need in the coming years to cover new construction costs. How much debt compared with equity does the company rely on to finance operations? 3) Return on Rate Base. 5) Debt-to-Equity Ratio.
Most customers running Microsoft Dynamics AX are acutely aware that at some point in the future, they will need to make the leap to Microsoft Dynamics 365 Finance & Supply Chain Management (D365 F&SCM). As we have noted elsewhere , Power BI is still a relatively new platform, and it is heavily focused on dashboard analytics.
Surveying global decision-makers in finance, IT, and operations, results showed that 71% of IT departments are spending an entire day each week generating recurring operational reports. When analyzing the relationship between IT and Finance, 63% of IT decision makers find that finance is either very- or over-reliant on the IT department.
Such approaches are gaining popularity as economic uncertainty and volatility are prevalent. Planning and budgeting tools in these systems tend to be far too rigid for most finance professionals. Bizview helps finance teams simplify processes to drive smarter decisions from more accurate data.
Unfortunately, though, for finance teams, it still falls short of the mark in several respects. That serves an important purpose, but it fails to address the fundamental tasks that most finance teams must complete on a regular basis. That’s because modern BI tools were not designed to work with the unique challenges of finance data.
In this episode of AI to Impact, Jitendra Jethanandani, Director, Enterprise Tech at BRIDGEi2i, discusses how the current COVID-19 pandemic spreads waves of uncertainty across businesses and their customer base requiring a renewed focus required on customer engagement. COVID-19 and Changing Facets of Customer Engagement. JJ: Yes, Anushruti.
Recognizing a need for better operational analytics, insightsoftware leveraged award-winning technology from Logi Analytics to provide Oracle ERP Cloud users the ability to customize, create, and share interactive dashboards and reports across all departments of a business.
When Jenna Greenfield founded Sagely, a finance and accounting platform for cannabis entrepreneurs, she learned firsthand the challenges that come with building out an analytics platform from scratch. I could only allocate a small portion of my day to working with the dev shop to build out the dashboard which slowed us down.
Without robust in-house expertise and support to build the necessary dashboards and run queries, many institutions are instead forced to rely on canned reports that can’t be customized. Dashboards that are easy to customize and share across departments allow institutions to tailor their analysis and ask better questions of their data.
The rebranding of business intelligence (BI) platform vendor MicroStrategy that will see the firm aggressively plug Bitcoin comes with significant risks as a result of the digital currencys volatility and the regulatory uncertainties surround the cryptocurrency market, an industry analyst said Thursday.
Next year, finance teams utilizing SAP will face unparalleled pressure due to a confluence of economic challenges. These adversities heighten the necessity for finance professionals to adeptly translate raw data into strategic guidance. The same report found that recently a new set of obstacles has emerged for finance teams.
Gone are the days of finance sitting comfortably in the back seat. Here, we discuss three ways finance teams can cope with constant changes to the supply chain. Here, we discuss three ways finance teams can cope with constant changes to the supply chain. Break Down Finance Silos with a Single Version of Truth.
Due to the Infrastructure Investment and Jobs Act of 2022 in the United States, nonresidential construction is expected to continue expanding despite expected uncertainty in 2023. With Spreadsheet Server, you can easily design and create a KPI dashboard by selecting queries and applying calculations within the BI tool itself.
Finance teams are no strangers to pressure. Inflation, economic uncertainty, and swiftly-changing regulations significantly impact finance professionals. When surrounded by challenges from both outside and inside the organization, how can finance teams overcome these challenges to gain the agility they need to thrive?
How to Build Useful KPI Dashboards. Healthy finances are the backbone of every successful operation. It means that a large portion of assets are financed by debt, which implies a higher rate of return for the owners but creates uncertainty around returns to shareholders. Download Now. Financial Logistics KPI Examples.
The 2020s have been a decade marked by uncertainty. The uncertainty we’ve faced these past few years doesn’t appear to be going away anytime soon, and businesses need to be able to not only respond quickly to change, but to actively plan for it.
Read any overview of how the finance and accounting function is changing, and you will notice several common themes. The aim of technology in finance is to remove friction. As a result, sub-trends such as real-time reporting, robotics and AI, more regular forecasting, and self-service reporting via dashboards, have all gathered pace.
It involves projecting the future cash receipts and payments based on historical balance sheet data, current financial information, and anticipated changes in business operations and financing activities. From entrepreneurs to international conglomerates, cash flow forecasting is a vital part of any organization’s financial planning process.
In a fast-moving world where virtually every business is struggling to meet customer demand amid supply-chain uncertainty, rapid delivery times are more important than ever. Bringing It All Together: Creating an Effective Supply Chain Dashboard. Download our complementary supply chain KPI dashboard today.’
The last couple of years have been volatile for the finance industry. Runaway inflation, rising interest rates, and recent bank failures have finance leaders on edge and looking for ways to shore up their defenses as recession becomes more likely. Increased organizational agility and flexibility.
How can your finance team transform the way it works and add strategic value to your organization? Today’s finance teams typically spend too much time creating reports against their EPM data instead of performing analysis. Very often, finance teams must struggle with multiple sources of data. Download Now.
But when you work in finance, it’s a different story. Organizations need the ability to efficiently plan for uncertainty and respond to these fluctuations in the market. What If” Scenario Planning is an Essential Modern Finance Capability. Interested in Business Analytics and Dashboards. No high pressure sales pitch.
Amid the uncertainty arising from the COVID-19 crisis, many business leaders sought to understand the potential impact of customer credit defaults and limited liquidity on their future cash flows. By bringing those capabilities into a single toolkit and integrating it with ERP and reporting, finance teams can have the best of all worlds.
With the coming rollout of the OECD’s action plan on Base Erosion and Profit Shifting (BEPS) in over 130 countries, there are big changes looming, and today’s investments in multinational tax reporting and transfer pricing software will pay big dividends as finance teams step up to meet the challenge of shifting to the new paradigm.
Given the relative scarcity of finance talent these days and the power of technology to help organize and streamline these processes, it makes more sense than ever to take a fresh look at the way you perform planning, budgeting, and forecasting. Driver-Based Budgeting and Planning: A Guide for Finance Teams. Access Resource.
Factory shutdowns, shipping bottlenecks, and shortages of raw materials have led to substantial uncertainty for businesses seeking to address the vicissitudes of supply-side availability. Driver-Based Budgeting and Planning: A Guide for Finance Teams. In many cases, you’re not just losing an individual sale–you’re losing the customer.
What has been made clear is that in times of uncertainty, organizations require effective cash management and cash visibility to help enable corporate strategies. Finance teams are looking for more ways to reduce manual processes and speed up routine tasks like month-end close. Interested in Business Analytics and Dashboards.
What has been made clear is that in times of uncertainty, organizations require effective cash management and cash visibility to help enable corporate strategies. Finance teams are looking for more ways to reduce manual processes and speed up routine tasks like month-end close. Interested in Business Analytics and Dashboards.
This can make it hard to forecast sales and plan inventory levels, and the only way for these businesses to continue thriving is with the help of budgeting and planning solutions that give you real-time dashboarding and analysis with data-driven insights into buying patterns, price and inventory levels, and the competitive landscape.
It’s critical, therefore, that corporate finance teams get ahead of the challenge by familiarizing themselves with BEPS compliance and putting good tax reporting solutions in place now that will put them on the right track for when the new rules take effect. Compliance costs are expected to be fairly significant, and uncertainty abounds.
Many CFOs spend their time dealing with the business-as-usual finance tasks and putting out fires. That is because when Finance teams spend too much time trying to manage, analyze and understand their data, this takes critical time away from strategic planning. Powerful Tools.
The next few years will be a pivotal time for finance departments at multinational companies. Other elements of change include IFRS 16/17 and parallel modifications to lease accounting under US GAAP, political uncertainty, a push toward higher tax rates and increased enforcement, and rising inflation. No high pressure sales pitch.
Top Reasons for a Heavy Carbon Footprint From Your Supply Chain Keeping supply chains operating seamlessly in geopolitical and economic uncertainty is not a new challenge for global manufacturers, though it may feel like supply chain turbulence has become the new normal. Monitor progress, celebrate wins, and course-correct as needed.
With inflation squeezing payrolls and traditional stock options losing their luster, ESPPs provide a tangible opportunity for employees to share in company success and hedge against financial uncertainties. But here’s the catch: not all ESPPs are created equal.
They need to closely monitor the tax environment to recognize both potential challenges and opportunities and to remain agile in the face of uncertainty.” With Longview Tax’s dynamic, intelligent, and real-time consolidation you’ll experience higher productivity and have more time for strategic, value-added activities.
In todays fast-paced business environment, finance teams need more than data; they need a connected experience that transforms insights into action. They empower your finance team to analyze, optimize, and predict financial performance, helping your organization achieve long-term objectives.
Operating in the VUCA world means embracing the uncertainty and risks involved in business operations. Apart from the above metrics, there are many more important metrics that are applicable to the hospitality industry as much as any other industry; therefore, they have not been mentioned in this blog.
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