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The expansion addresses major pain points for organizations, including the fact that nearly 90% of professionals face challenges with their reporting tools and rely heavily on IT support. This data is gleaned from a report from insightsoftware and Hanover Research: The OperationalReporting Global Trends Report.
The results are in–for the third year in a row, insightsoftware has partnered with Hanover Research to deliver our yearly Finance Team Trends Report. Comparing results across the years shows an incredible journey for finance teams across the globe. Here, we discuss the top trends for finance teams this year.
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.
With its ability to add formulas, sort information, and automatically generate pivot tables, YSR offers significantly greater flexibility than screen-based reports. Unfortunately, though, for finance teams, it still falls short of the mark in several respects. Challenges for Reporting and Analysis.
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). Unfortunately, Power BI is poorly suited to financial and operationalreporting.
This is especially prevalent among finance departments. The Cause and Effect of Disjointed Reporting Recent research found that more than two-thirds of IT and finance professionals waste an entire day each week on operationalreporting. More specifically, data silos remain one of the biggest barriers to innovation.
By connecting solutions across the insightsoftware portfolio, organizations can now choose the capabilities they need for effective reporting, controllership, and budgeting and planning, while improving productivity, user experience, and reducing implementation risk.
. – April 12, 2023 – insightsoftware , a global provider of reporting, analytics, and performance management solutions, today released new research on the state of operationalreporting. Key findings include: Operationalreporting costs 71% of IT departments, on average, 1 day per week, or $23,730 per year in salary costs.
Financial reporting, operationalreporting, financial planning and analysis—there’s no shortage of work for finance teams to do as organizations continue to adjust to the new economic realities that the pandemic thrust upon the world stage in 2020. Enable the Organization to Make More Flexible, Timely Decisions.
There’s no doubt that Finance is one of the most critical and challenging sectors to work in. 2023 has been a unique year for Finance–although organizations celebrated recovery from the COVID-19 pandemic last year, their celebrations were short-lived. Counter-intuitively, reduced budgets often mean more work 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.
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.
Finance professionals often stick to proven methods, understanding that disrupting established systems can jeopardize time-sensitive financial processes. How do you embrace finance transformation without downtime or a steep learning curve? Here, we discuss three ways to smoothly transform your finance strategy.
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. The good news is that downloadable templates and automation software can ease the cash flow forecasting process.
To find out more about the state of Finance in 2023, insightsoftware partnered with Hanover Research to survey accounting and finance decision-makers on the most pressing trends of the year. Here, we discuss how factors like market uncertainty and IT dependence impact finance teams throughout EMEA.
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. According to Oxford Economics’ Future of Construction Report , the construction market is expected to grow by $4.5 trillion worldwide by 2030.
The strain is especially palpable for finance professionals in the construction industry. Coping with Skills Shortages In 2023, the outlook for skills shortages for finance professionals is bleak. When it comes to hiring skilled finance teams, leaders are struggling to find new talent to replace recent retirees.
If you are continually juggling finances to make sure you keep enough money in the bank, your profit margins may be too slim. Operating cash flow gives you an idea if you can afford capital improvements or expansions, particularly if you need to invest in more labor, machinery, or software. Cash Flows From Financing.
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.
Today’s finance teams are under more pressure than ever before. Finance is responsible for knowing where their business stands today, and also for mapping out the road ahead. Finance departments must guide their organizations into the future, even as the ground continues to shift beneath their feet.
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?
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? In most companies, financial reporting consumes an inordinate amount of time and energy. Today’s finance teams typically spend too much time creating reports against their EPM data instead of performing analysis.
If any one word could encapsulate 2023, it would be “uncertainty.” For most of the year, finance teams have been preparing for a recession that never quite reached the heights (or depths) heralded by the media. Finance leaders are excited about the productivity gains GenAI can provide but also wary of potential security risks.
Market turbulence can dramatically influence the complexity of year-end disclosure processes for the finance team. Uncertainties in supply chains and operational disruptions, caused by global events, can affect the assessment of risks and uncertainties.
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.
It began with the arrival on scene of a pandemic, but has since been followed by ongoing supply chain uncertainty, price volatility, and disruption to the workforce. Change is inevitable, and budgeting methodologies that can easily accommodate variability can be an asset during times of particular uncertainty.
W ith a n advanced operationalreporting solution that delivers proper data analysis , you can put your best foot forward. By adopting the right SAP reporting solution , you can significantly reduce transportation-related emissions, optimize material usage, and contribute to a more sustainable and efficient supply chain.
Businesses around the globe are struggling to do more with less as budgets tighten, uncertainty looms, and talented workers can be scarce. At the same time, the finance function is emerging as a strategic pillar in many organizations. However, there is a downside; each system, operating independently, constitutes a data silo.
While Sage Intacct’s native reporting capabilities provide a strong foundation, finance teams often face limitations when tackling complex analyses or navigating evolving information needs. Ad hoc reports can throw an additional wrench into period-end reporting.
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. Thinking about what ifs is actually key to a successful budgeting and planning process.
Already harnessing the abilities of the cloud, Sage Intacct users enjoy multidimensional analysis capabilities for a bird’s eye view of operational and financial data. According to a recent study by insightsoftware and Hanover Research , 70% of finance professionals feel pressure from inflation, economic disruption, and recession.
Much has been written in recent months about the difficulty that certified public accountant (CPA) firms and corporate finance departments are having as they search for qualified employees with adequate experience. Many of the baby boomers employed in finance have already left. Where Finance Meets Technology. Access Resource.
The cloud offers numerous benefits, including scalability, flexibility, and cost savings, but the uncertainty surrounding data security protocols and potential vulnerabilities can cause hesitation. Entrusting your sensitive data to a cloud environment can be a leap of faith.
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.
What has been made clear is that in times of uncertainty, organizations require effective cash management and cash visibility to help enable corporate strategies. Wands for SAP helps with visibility issues, providing: Quick access to refreshable, drillable financial reports. insightsoftware partnered with?
What has been made clear is that in times of uncertainty, organizations require effective cash management and cash visibility to help enable corporate strategies. Wands for SAP helps with visibility issues, providing: Quick access to refreshable, drillable financial reports. insightsoftware partnered with?
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. The learning curve may be steep.
While financial reporting and compliance are still key responsibilities of the role, more and more businesses are now leaning on a CFO’s management expertise to help inform strategic decisions. Many CFOs spend their time dealing with the business-as-usual finance tasks and putting out fires. Powerful Tools.
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.
Get the edge on competitors and help drive revenue growth during the inevitable highs and lows of economic uncertainty. This is the advantage that will let you thrive in a changing market. Schedule a Bizview demo today.
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. Learn More EPM solutions bring together financial planning, performance measurement, and operational strategies into one seamless system.
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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