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Enterprise Social Network: Finance and Administration Use Case

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A compelling use case for implementing an Enterprise Social Network to assist your F&A team.

A compelling use case for implementing an Enterprise Social Network to assist your F&A team.

Published in: Technology, Economy & Finance

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  • 1. Clearvale Use Case: Finance and Administration Global Governance Network Extranet Networks
  • 2. Who Works for This Company?
    • Maria is the CFO at OmniGamez, a game developer that is growing quickly.
    • Employees reside in several locations worldwide.
    • She must ensure that the company complies with complex financial rules and regulations.
  • 3. What are the F&A Challenges?
    • Maria and key executives are not always kept informed of Global Governance issues, distracting them from strategic tasks.
    • Offices in many countries with different regulations; many places to find information.
    • Data security concerns.
    • Many risks due to complex and sometimes competing laws that continue to evolve.
    • SOX law interpretation can vary by auditor.
  • 4. Why Clearvale Instead of Web 1.0?
    • Web 1.0
    • With many offices and tools, the organization functions like several tiny companies.
    • Maria and key players in different time zones need information; they don’t all always receive it in a timely way.
    • Auditors do not always have the historical context of decisions made in the past.
    • Several websites and passwords to remember, creating frustration and discouraging people from collaborating.
  • 5. Why Clearvale Instead of Web 1.0?
    • Clearvale
    • Web 2.0 application encourages collaboration and a cohesive group culture. One tool to use for everyone.
    • One location to find all company networks. One password. No wasted time determining where to look or what credentials to use.
    • Historical information transcends time and place; information is seen in the proper context.
    • Communities facilitate project management and provide internal tools to track documents and work efforts.
  • 6. When Can F&A Implement Clearvale?
    • With Clearvale, Maria goes live quickly with no technical background or training. And she does not require the assistance of her Information Technology department.
  • 7. Who Else Works for This Company?
    • Robert is the COO of the China office and works closely with the U.S.-based finance department.
    • Susanna is an external auditor and does not work for the company.
  • 8. Who Else Works for This Company?
    • Alex is a finance manager who manages F&A, including monthly closes and SOX compliance. He is also responsible for loss mitigation but is not spending enough time on this duty.
  • 9. How Does F&A Do It?
    • Set Up Networks
    • Alex goes to www.clearvale.com and sets up a Clearvale network for F&A. He invites F&A staff to the network.
    • F&A corporate office staff join, upload photos, and set up profile pages.
  • 10. How Does F&A Do It?
    • Set Up Networks
    • Robert goes to www.clearvale.com and sets up a Clearvale network for the F&A China. He invites F&A China staff to the network.
    • F&A China office staff join, upload photos, and set up profile pages.
  • 11. How Does F&A Do It?
    • Create Communities
    • Alex sets up a community for compliance and invites the CFO and key staff members.
    • Robert sets up a community for compliance on his network and invites the CFO and key staff members.
  • 12. How Does F&A Do It?
    • Make Access Easy
    • Maria joins the networks. As a member of both, she can login to one and see the communities for each one , saving her time.
  • 13. How Does F&A Do It?
    • Make Access Easy
    • Susanna is invited to the networks because she works on compliance issues. She obtains the documents she needs without waiting because she has access to key communities.
  • 14. How Does F&A Do It?
    • Retain Security
    • Susanna cannot see OmniGamez proprietary documents. Clearvale’s document management feature, DocuVault, offers granular document control. Susanna only has access to documents that she needs.
  • 15. How Does F&A Do It?
    • Collaborate
    • Alex and Robert must exchange information each month and adhere to schedules. Rather than send multiple emails, they use the networks to share information.
  • 16. How Does F&A Do It?
    • Feel Secure
    • Because all employees have secure, easy-to-access places in which to share documents, the CFO feels confident that everyone has the most current information.
  • 17. F&A After Clearvale
    • Alex and Robert no longer send duplicate documents. Server load is reduced. No worries about email security.
    • Maria has a global view of the business and focuses on reducing risk and optimizing cash.
    • Susanna works with more autonomy, allowing Alex and Robert to focus on loss mitigation.
    • Because of Clearvale’s collaborative and transparent elements, Maria sees that Alex contributes more than she realized and offers him a promotion to retain him.
    • Because Clearvale is based on Web 2.0, IT has no tasks pertaining to managing the networks.
  • 18. Clearvale Advantages
    • Easily keep finance executives and key players informed of all activity related to Global Governance, regardless of geographic locations.
    • Free up time for employees to focus on strategic issues.
    • Ensure Global Governance within your organization, even as laws quickly evolve.
    • Improve project management without needing to invest in many tools.
    • Single, secure tool to share information.