Financial Planning In The Cloud, Part 1
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  • 1. Budgeting and Forecasting in the CloudLive webinar presented byiBusiness Solutions & Host AnalyticsiBusiness Solutions, Inc.7300 Metro Blvd, Suite 590Edina, MN 55439www.ibusiness-solutions.biz
  • 2. Today’s Session Using cloud-based applications to capture, manage and analyze financial data Applying best practices to cloud-based technology Leveraging industry best practices to automate budgeting and planning and enable forecasting, dashboarding, scorecarding and more Moving away from disconnected spreadsheets Introduction to Host Analytics, the industrys first cloud-based corporate performance management (CPM) suite Use cases for cloud-based financial budgeting, planning and reportingiBusiness Solutions, Inc. www.ibusiness-solutions.biz. Copyright. All rights reserved. 2
  • 3. Today’s SpeakersTimothy Brands, CEO – iBusiness Solutions Founder and Chief Executive Officer of iBusiness Solutions Created The intelligent Business ProgramTM, a package of tools, techniques, best practices, and best-in-class examples for creating innovative technology-based solutions to help organization communicate what has happened, influence what is happening, and anticipate what will happen next.Keri Brooke, VP Marketing – Host Analytics Keri manages Host Analytics’ marketing activities. She oversees product marketing, brand management, market strategy, lead generation, public relations, and analyst relations. Keri comes to Host Analytics with 15 years in the CPM space. She started in Consulting Services management in Hyperion UK, moved into product marketing in 1998 and made a move to the Hyperion US HQ in 2000.iBusiness Solutions, Inc. www.ibusiness-solutions.biz. Copyright. All rights reserved. 3
  • 4. The intelligent BusinessTM Using cloud-based technologies to capture, manage, and analyze dataiBusiness Solutions, Inc. www.ibusiness-solutions.biz. Copyright. All rights reserved. 4
  • 5. Challenges remain the same Moving to Cloud-based budgeting and planning requires  Discipline  A plan  A strategy  Collaboration of all affected parties  Top-down approach  Clear goals and objectives  Defined outcomes Technology alone cannot solve strategy-related problems Garbage in will always = Garbage outiBusiness Solutions, Inc. www.ibusiness-solutions.biz. Copyright. All rights reserved. 5
  • 6. iBusiness Solutions, Inc. www.ibusiness-solutions.biz. Copyright. All rights reserved. 6
  • 7. The Vision ExpanderTMiBusiness Solutions, Inc. www.ibusiness-solutions.biz. Copyright. All rights reserved. 7
  • 8. The Strategic NavigatorTMiBusiness Solutions, Inc. www.ibusiness-solutions.biz. Copyright. All rights reserved. 9
  • 9. The Data TransformerTMiBusiness Solutions, Inc. www.ibusiness-solutions.biz. Copyright. All rights reserved. 10
  • 10. The Business Hierarchy ModelTMiBusiness Solutions, Inc. www.ibusiness-solutions.biz. Copyright. All rights reserved. 11
  • 11. The Technology AcceleratorsTMiBusiness Solutions, Inc. www.ibusiness-solutions.biz. Copyright. All rights reserved. 12
  • 12. What’s Wrong With Spreadsheets? Not built for a process Prone to error Not built for collaboration Unstructured documentation Invisible dependencies Lack of flexibility Little modularity support No separation of data to end-user interface Changing is major surgery Too much time! …The list goes on...iBusiness Solutions, Inc. www.ibusiness-solutions.biz. Copyright. All rights reserved. 13
  • 13. Effect  Working in data isolation  Latency  No collaboration  Business trends and market movements not driving decisions  Missed opportunities  No contingency planning ….Too much time on non value added activitiesiBusiness Solutions, Inc. www.ibusiness-solutions.biz. Copyright. All rights reserved. 14
  • 14. What that meant for technology Spreadsheets Finance analytics and client server Web based applications Combination of CPM and BI Combination ERP, CPM and BI A new technology emerges as mainstreamiBusiness Solutions, Inc. www.ibusiness-solutions.biz. Copyright. All rights reserved. 15
  • 15. Introduction to Cloud-Based Budgeting and ForecastingiBusiness Solutions, Inc.7300 Metro Blvd, Suite 590Edina, MN 55439www.ibusiness-solutions.biz
  • 16. Evolution of Financial Applications Dashboards and variance reports Financial Consolidation and Iterations Budgets, Aggregation and version control 1st generationiBusiness Solutions, Inc. www.ibusiness-solutions.biz. Copyright. All rights reserved. 17
  • 17. Evolution of Financial Applications Scenario Modeling Dashboards and variance reports Basic Excel Financial or Consolidation and Early Finance Iterations Applications Budgets, Aggregation and version control 1st generation 2nd generationiBusiness Solutions, Inc. www.ibusiness-solutions.biz. Copyright. All rights reserved. 18
  • 18. Evolution of Financial Applications Functional/ Operational Decisions Strategic Decisions Scenario Modeling Dashboards and variance reports Basic Excel Tailored Excel Financial or Applications Consolidation and Early Finance or Iterations Applications Finance Applications 2.0 Budgets, Aggregation and version control 1st generation 2nd generation 3rd generationiBusiness Solutions, Inc. www.ibusiness-solutions.biz. Copyright. All rights reserved. 19
  • 19. Evolution of Financial Applications Functional/ Operational Decisions Profit Improvements Strategic Decisions Scenario Modeling Predictability Dashboards Improvements and variance reports Basic Excel Tailored Excel Financial or Applications Consolidation and Early Finance Iterations Applications or Finance Productivity Applications 2.0 Budgets, Improvements Aggregation and version control 1st generation 2nd generation 3rd generationiBusiness Solutions, Inc. www.ibusiness-solutions.biz. Copyright. All rights reserved. 20
  • 20. Bringing Value Table stakes, cost focused efficiencies Improving service levels Value add benefitsiBusiness Solutions, Inc. www.ibusiness-solutions.biz. Copyright. All rights reserved. 21
  • 21. Cost Efficiencies Lower overhead  Reduced IT involvement  Reduced costs of implementation  Quick implementation timesiBusiness Solutions, Inc. www.ibusiness-solutions.biz. Copyright. All rights reserved. 22
  • 22. Improve service levels  Process improvements  Expanding the footprint of the finance processes …. ….without the increase in infrastructure  Putting rigor into those financial processesiBusiness Solutions, Inc. www.ibusiness-solutions.biz. Copyright. All rights reserved. 23
  • 23. Driving value Profit Improvements  Driving fact based decision making throughout the organization  Providing access to large groups of people  More operational data being fed into finance  Using “smart” content like benchmarksiBusiness Solutions, Inc. www.ibusiness-solutions.biz. Copyright. All rights reserved. 24
  • 24. Bridging the gap Ease Of Use Customization Driven by vendor Technology agnostic Performance Right features Driven by vendor Helped by cloud Access to latest functionality Low ongoing costs Low initial costs Benchmarks Vendor agnostic Best people on the right problemsEnabled by cloud Integration of efforts and avoid silosiBusiness Solutions, Inc. www.ibusiness-solutions.biz. Copyright. All rights reserved. 25
  • 25. What can happen if you get this right… Source Aberdeen Group 2010 --- No of Respondents 159iBusiness Solutions, Inc. www.ibusiness-solutions.biz. Copyright. All rights reserved. 26
  • 26. Thule Challenges  Late and inconsistent excel data “Before, we were lucky just to  Long, long meetings get the numbers. With Host  Adjustments mid-year very hard Analytics we get the numbers  Sales forecasting accuracy and the whole story.” Solution “Budget meetings are now about the business, not about  A single source of consistent data the integrity of information.”  Budgeting now takes half the time  What-if scenarios and ad-hoc reporting - Mark Cohen, Vice President  12 month rolling forecasts of Finance and IT, Thule Results Vehicle Accessories North  Confidence in their data America  Meetings are dedicated to decision-making  Self service reporting  Finance understands the model behind the numbers  No involvement from in-house IT staffiBusiness Solutions, Inc. www.ibusiness-solutions.biz. Copyright. All rights reserved. 27
  • 27. A Partial List of Companies Creating ValueiBusiness Solutions, Inc. www.ibusiness-solutions.biz. Copyright. All rights reserved. 28
  • 28. iBusiness Solutions, Inc. www.ibusiness-solutions.biz. Copyright. All rights reserved. 29
  • 29. The D.C.O. ModelTM Session 3: • Technology Accelerators • Cloud-based reporting demonstration March 30th at 1PM CSTiBusiness Solutions, Inc. www.ibusiness-solutions.biz. Copyright. All rights reserved. 30
  • 30. Thank you! Questions? tbrands@ibusiness-solutions.com kbrooke@hostanalytics.comiBusiness Solutions, Inc. www.ibusiness-solutions.biz. Copyright. All rights reserved. 31