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. – 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.
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.
Financial reporting requires a significant amount of time, attention, and input to prepare reports that offer valuable analysis and deep insight into enterprise performance. Rather, these issues are evidence of a financial reporting process that’s producing untrustworthy information and eating extra time along the way.
Deal furthers mission to deliver powerful portfolio of enterprise software solutions for Office of the CFO; expands real-time financial reporting capabilities for top ERPs Sage and Viewpoint. Emphasis on accurate financial and operationalreporting in order to maintain cash flow is more important than ever. RALEIGH, N.C.
With the volatility of the market and increasing uncertainties that arise within your business, you need actionable insights to contend with competitors buoyed by digital transformation efforts. Unlock insights from ERP Data to Deliver Actionable Insights Let’s face it. It’s simple – the famous “ 80/20 data science dilemma ” explains it best.
Yardi offers a variety of different tools for reporting; unfortunately, each has its own unique shortcomings. Reporting in Yardi: the Default Options. If your report contains more than 3,000 rows, Yardi will cut off the report and omit any results that exceed that number.
Although Microsoft’s rollout of its two ERP cloud products (D365 F&SCM, and for smaller businesses, D365 Business Central) has been going on for some time, the current climate of economic uncertainty has prompted a lot of companies to hit the pause button on migration, choosing instead to stay the course with their existing Dynamics AX systems.
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. Good things happen when you’re well connected.
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. This continued ineffective and disjointed reporting results from siloed data that can prevent real-time collaboration and impactful conclusions.
The Impact of Market Uncertainty This year, Finance decision-makers are feeling pressure from both internal and external sources. And on the other, internal pressures like the need for more frequent, accurate forecasting force CFOs to re-evaluate their existing tools and processes. The Result? Struggling With Skills Shortages?
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 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. It is a huge asset for organizations seeking a stronger foundation for executive decisions.
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 flexible, timely decisions. Priority 3.
This year, companies worldwide find themselves navigating constant market uncertainty, needing to accomplish more with less resources, and preparing for a potential recession. Challenge 1: Budgetary restraints Due to market uncertainty, businesses are treating their budgets with more scrutiny.
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.
Inflation, economic uncertainty, and swiftly-changing regulations significantly impact finance professionals. ERP-Native Reporting Stifles Agility ERPs are complex, and you often need to go beyond what’s available with native ERP reporting to generate custom and ad hoc reports. Finance teams are no strangers to pressure.
Here, we discuss how factors like market uncertainty and IT dependence impact finance teams throughout EMEA. The State of Finance in EMEA Finance teams worldwide have been deeply impacted by market uncertainty. According to Robert Half , 91% of CFOs in the EMEA region reported facing challenges in finding skilled finance professionals.
In many native reporting solutions, these deep supply chain insights require technical skill to extract and analyze. It takes too long to report and drill across multiple dimensions from the Financial Accounting (FI) and Controlling (CO) modules using SAP Analysis for Office. Break Down Silos. Inefficiency. Sub-par customer service.
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.
Business cash flow planning or management lets you make sure your business has enough money to maintain its operations. CFO is an excellent barometer of whether or not your firm has enough incoming funds to pay bills and operating expenses in any given month. We all want better business cash flow and we want it yesterday.
In periods of economic uncertainty, financial planning and analysis (FP&A) teams become more important than ever. Serves as efficient resource planning for businesses with short business cycles or businesses with a lot of uncertainty. Positions the organization one step ahead during times of volatility.
The digitalization of tax and operational transfer pricing processes can have a huge impact on a multinational company’s ability to efficiently forecast and report its tax liability. We’re also seeing greater volatility in global events, uncertainty in global trade policies, and more. A unified view is critical.
Enterprise planning has the potential to be transformational; it should be viewed as an opportunity to re-align day-to-day business operations and tactical decisions with the bigger picture of long-term business strategy. Follow-Through With Reporting and Analytics. That approach misses the point. Plan for Agility and Adaptability.
According to insightsoftware and Hanover Research’s 2023 Finance Team Trends Report , the rate at which organizations expect to grow is down to 64%, compared to 73% in 2022. Market uncertainty is another important factor explaining this decline. Of those surveyed, 81% use native reporting tools, and 62% face challenges with them.
Finance teams that embrace this strategic imperative and equip themselves with the right tools will play a pivotal role, driving successful business results amid disruption and uncertainty. Now, as uncertainty continues, that strategic financial perspective is just as important. The resulting reports don’t reflect any new transactions.
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. I understand that I can withdraw my consent at any time.
The cloud offers numerous benefits, including scalability, flexibility, and cost savings, but the uncertainty surrounding data security protocols and potential vulnerabilities can cause hesitation. These are just some of the questions giving business leaders pause when it comes to cloud migration. Let’s address them head-on.
Uncertainties in supply chains and operational disruptions, caused by global events, can affect the assessment of risks and uncertainties. Economic fluctuations, regulatory shifts, and market volatility will impact financial results and necessitate thorough explanations in disclosures to provide context for stakeholders.
Organizations need the ability to efficiently plan for uncertainty and respond to these fluctuations in the market. Easy configuration of planning forms, reports and dashboards, and automated workflow tools make it easy to extend planning beyond finance. The Right Software Can Make “What If” Modeling Easy.
These processes, ranging from data entry to report generation, consume valuable time and resources, hindering productivity and accuracy. According to insightsoftware and Hanover Research’s recent Finance Team Trends Report, there are still many finance teams tacking recurring reports with manual efforts. The numbers don’t lie.
Sustaining growth amidst economic uncertainty demands immediate, clear insights from your SAP data to inform strategic decision-making. The aftershocks of pandemic disruption continue to put pressure on supply chains, increasing the need for robust oversight to maintain operational stability and customer satisfaction.
As a European organization with US operations, or a US-based company that operates in multiple states, you are now facing an increasing demand for state-by-state provision reporting, rather than the traditional blended rate method. How long until you would feel comfortable reporting against the new requirements?
In most companies, financial reporting consumes an inordinate amount of time and energy. If they don’t have access to the right data in the first place, reporting turns into a tedious back-and-forth process between finance and other departments to get information, make sure it’s the right data, and incorporate it into reports.
An inflexible planning process that relies on static reports and siloed data isn’t going to cut it. It’s also instrumental in monitoring market conditions, staying ahead of potential supply chain disruptions, and incorporating contingencies into operating budgets. Schedule a Bizview demo today.
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. This is where the humble Employee Stock Purchase Plan (ESPP) emerges as a game-changer. Design your ESPP around its features.
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. Access Resource. Predicting the (Somewhat) Unpredictable. BEPS represents a change in global taxation, but it isn’t the only change.
Businesses around the globe are struggling to do more with less as budgets tighten, uncertainty looms, and talented workers can be scarce. However, there is a downside; each system, operating independently, constitutes a data silo. At the same time, the finance function is emerging as a strategic pillar in many organizations.
Continued uncertainty about the future prompting them to retire earlier than they might have otherwise. Many of the baby boomers employed in finance have already left. These seasoned employees, just on the cusp of retirement age, have chosen to leave the workforce altogether. Keeping Remote Talent Engaged.
When reporting across multiple locations or to multiple entities, you’re still required to manually export and stitch together reports in Excel. Our recent Finance Team Trends Report also reveals a quarter (24%) of finance professionals view manual and time-consuming processes as a top challenge.
Compliance costs are expected to be fairly significant, and uncertainty abounds. An Overview of BEPS. The BEPS agreement is built around two “pillars.” The first aims to align corporate taxation with the actual economic activity that takes place within a given market. The learning curve may be steep.
Sage ERPs equip finance professionals with out-of-the-box reporting functionality as a level up from manual reporting, but what if you need more power to navigate through constantly changing regulations and market uncertainty? This costs valuable time, making the month-end close process stretch from days to weeks.
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, which supports ECC and S/4HANA, provides a consistent reporting experience before, during or after migration, so your finance team can focus on what need to get done.
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, which supports ECC and S/4HANA, provides a consistent reporting experience before, during or after migration, so your finance team can focus on what need to get done.
A Corporate Performance Management solution, can help save time and provide insights so that you’re getting the maximum value from your CFO: Automated Financial and OperationalReporting and Analysis. Create rich and user-friendly reports that save time on manual processes, like manually inputting data into multiple systems.
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