Where finance and it meet

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  • Unified communications = IP telephonyMetadata management = also data mining and process miningWeb platform and Web-Oriented Architectures = Cloud ComputingComputing fabric = building blocks for computer hardwareReal World Web = augmented reality (example: printed route versus GPS system navigation)Context-aware computing = differential performance peakingMedia tablets and beyond = BYODUbiquitous (everything and everywhere) computing = Internet of ThingsSecurity by activity monitoring = continuous monitoringIn-Memory Computing = solid state driveIT for green = het nieuwe werken
  • Where finance and it meet

    1. 1. Where Finance and IT Meet Prof.dr. Eddy Vaassen RA
    2. 2. Strategic technology• Gartner defines a strategic technology as one that has the potential for significant impact on the enterprise in the next three years• Factors that denote significant impact include a high potential for disruption to IT or the business, the need for major investments, or the risk of being late to adopt
    3. 3. Strategic IT trends• Micro analysis• IT organization• IT control
    4. 4. Strategic IT trends 2008-2013 (Gartner)2008 2009 2010 2011 2012 20131. Green IT 1. Virtualization 1. Cloud 1. Cloud 1. Media tablets 1. Mobile device Computing Computing and beyond battles2. Unified 2. Cloud 2. Advanced 2. Mobile 2. Mobile-centric 2. Mobilecommunications Computing analytics applications and applications and applications and media tablets interfaces HTML53. Business 3. Servers 3. Client 3. Social 3. Contextual 3. PersonalProcess beyond blades computing communication and social user cloudModeling and collaboration experience4. Metadata 4. Web-Oriented 4. IT for green 4. Video 4. Internet of 4. Enterprisemanagement Architectures Things app stores5. Virtualization 5. Enterprise 5. Reshaping 5. Next 5. App stores 5. Internet of2.0 mashups the data center generation and market Things analytics places6. Mashups and 6. Specialized 6. Social 6. Social 6. Next 6. Hybrid IT andcomposite apps systems computing analytics generation Cloud analytics Computing7. Web platform 7. Social 7. Security by 7. Context- 7. Big Data 7. Strategic Bigand WOA software and activity aware Data networking monitoring computing8. Computing 8. Unified 8. Flash 8. Storage class 8. In-Memory 8. ActionableFabric communications memory memory Computing analytics9. Real World 9. Business 9. Virtualization 9. Ubiquitous 9. Extreme low 9. In-MemoryWeb Intelligence for availability computing energy servers Computing10. Social 10. Green IT 10. Mobile 10. Fabric-based 10. Cloud 10. Integratedsoftware applications infrastructure Computing ecosystems and computers
    5. 5. Top 10 IT predictions• Macro analysis• C-suite• Interactive control systems
    6. 6. Cloud Computing or a variant is pervasive• The term ‘Cloud Computing’ was considered trending for the first time in 2009• But before there were variants or related concepts, including ASP, Utility Computing, Web Oriented Architectures, and web platform• There will be variants such as client computing and hybrid IT
    7. 7. Blade server• A blade server is a server chassis housing multiple thin, modular electronic circuit boards, known as server blades. Each blade is a server in its own right, often dedicated to a single application• The blades are literally servers on a card, containing processors, memory, integrated network controllers, an optional Fiber Channel host bus adaptor (HBA) and other input/output (IO) ports
    8. 8. Computing fabric• Usually this refers to a consolidated high- performance computing system consisting of loosely coupled storage, networking and parallel processing functions linked by high bandwidth interconnects• In the context of data centers it means a move from having distinct boxes for handling storage, network and processing towards a fabric where these functions are much more intertwined or even integrated
    9. 9. Big Data• Big Data is moving from a focus on individual projects to an influence on enterprises strategic information architecture• Dealing with data volume, variety, velocity and complexity is forcing changes to many traditional approaches• This realization is leading organizations to abandon the concept of a single enterprise data warehouse containing all information needed for decisions• Instead they are moving towards multiple systems, including content management, data warehouses, data marts and specialized file systems tied together with data services and metadata, which will become the logical enterprise data warehouse
    10. 10. In-memory computing• In-memory computing is the storage of information in the main random access memory (RAM) of dedicated servers rather than in complicated relational databases operating on comparatively slow disk drives• In-memory computing helps business customers, including retailers, banks and utilities, to quickly detect patterns, analyze massive data volumes on the fly, and perform their operations quickly• The drop in memory prices in the present market is a major factor contributing to the increasing popularity of in-memory computing technology• This has made in-memory computing economical among a wide variety of applications
    11. 11. Finance and IT• Meet in between the mentioned IT trends and the IT predictions• It’s not about the technology, but about what we can do with that technology• E.g., – Accounting: XBRL, data mining, Big Data, analytics – Auditing: continuous auditing – Internal control: process mining – Finance: social media data as market information
    12. 12. The language of IT• Complaints by financials: the IT people don’t speak my language• Complaints by IT personnel: the financials don’t speak my language• So, Finance has to learn to speak IT and IT has to learn to speak Finance ..... To a certain degree• A mix of cross-learning and specialization may be a bettter solution
    13. 13. So, where do finance and IT meet? CFO CIOHead of InformationAdmini- Controller Head of IT Managerstration
    14. 14. Three models1. Cross-learning: a. Increase IT knowledge of the Controller b. Increase finance knowledge of the Information Manager2. Specialization: a. Keep knowledge in silos b. Coordinate at the C-level3. A mix of cross-learning and specialization: a. Create a common knowledge base b. Specialize from a certain level
    15. 15. Increase IT knowledge of the Controller CFO CIOHead of InformationAdmini- Controller Head of IT Managerstration
    16. 16. Increase finance knowledge of the Information Manager CFO CIO Head of Information Admini- Controller Head of IT Manager stration
    17. 17. Coordinate at the C-level CFO CIOHead of InformationAdmini- Controller Head of IT Managerstration
    18. 18. Takeaways• Towards heterogeneous systems within integrated ecosystems• IT will deliver what the business needs• Finance talks on behalf of the business• Finance needs a common body of knowledge with IT (on top of its common body of knowledge with the business)• No technology knowledge, just IT potential and terminology• Information manager at first sight is the intermediary, but he is just the person who knows just a little bit of everything, but in no field knows enough• The financial (controller) needs substantially more IT knowledge in an age of dramatic IT proliferation

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