Adaptive insights forrester and boston scientific webinar_final

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Paul Hamerman, VP & Principal Analyst for Forrester Research, explains how modern enterprises can leverage new finance technology in this FP&A Power Hour Presentation

Paul Hamerman, VP & Principal Analyst for Forrester Research, explains how modern enterprises can leverage new finance technology in this FP&A Power Hour Presentation

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  • 1. 1© 2014 Adaptive Insights | Confidential & Proprietary T H E G L O B A L L E A D E R I N C L O U D B I & C P M FP&A Power Hour Finance Technology for Modern Enterprises Featuring Forrester Research and Boston Scientific
  • 2. 2© 2014 Adaptive Insights | Confidential & Proprietary T H E G L O B A L L E A D E R I N C L O U D B I & C P M FP&A Power Hour Finance Technology for Modern Enterprises Featuring Forrester Research and Boston Scientific
  • 3. 3© 2014 Adaptive Insights | Confidential & Proprietary Today’s Speakers Paul Hamerman Vice President and Principal Analyst Paul Turner Senior Director Strategy Mark Powers Manager Operations Finance Finance Technology for Modern Enterprises Accelerating FP&A with Adaptive Insights Tapping the Cloud at Boston Scientific
  • 4. 4© 2014 Adaptive Insights | Confidential & Proprietary Agenda – Learning Goals • The key trends in finance software and what they mean to you • The value that Corporate/Financial Performance Management can bring • Different deployment strategies that you can use • How to apply real-life examples from enterprises that are using the cloud
  • 5. Adaptive Insights Webinar: FP&A Power Hour – Finance Technology for Modern Enterprises Paul Hamerman, Vice President and Principal Analyst Forrester Research, Inc. March 25, 2014
  • 6. © 2014 Forrester Research, Inc. Reproduction Prohibited 6 Agenda › FP&A drives financial performance › Trends in finance software adoption › Strategies to deploy FP&A solutions
  • 7. Finance seeks greater levels insight and predictability as the economy is disrupted by the digital age
  • 8. Digital businesses of the future ride 4 key technology trends: cloud, mobile, social, and big data March 2013 “Capitalize On Emerging Technology For Innovation And Growth”
  • 9. The digital economy – trends impacting finance • The pace of acquisitions accelerates: • Startups and cloud companies are targets • Traditional businesses consolidate for efficiency • Recurring revenue replaces up-front revenue recognition, placing pressure on profitability • Revenue growth, cash flow, and profits lead finance priorities • Finance will invest in cloud-based software technology for flexibility and growth
  • 10. FPM helps finance add value at multiple levels of the organization
  • 11. © 2012 Forrester Research, Inc. Reproduction Prohibited The Functional Scope Of Financial Performance Management September 2013 “The Forrester Wave™: Financial Performance Management, Q3 2013”
  • 12. The Financial Performance Life Cycle: Finance processes are conceptually linked across the time dimensions of past, present and future… August 2011 “Align Financial Processes And Systems For Better Business Value And Compliance”
  • 13. Financial business process challenges • Difficulty to integrate data from disparate transactional systems • Financial and ERP software updates are costly and often deferred. • A lengthy and complicated process to close the books • Increasing compliance burdens (e.g., SOX, XBRL, IFRS) for financial reporting and industry-level compliance • Labor-intensive efforts to assemble external financial reports and regulatory filings • A volatile global economy, which complicates planning and forecasting efforts • A need for timely internal management reporting to speed decisions
  • 14. Why companies buy FPM solutions 1. Agility: Changing business models and the need for increased flexibility in planning and analysis drives the need for new or expanded capabilities from the software solution. 2. Insight: Companies need relevant and timely information about how their business is performing, with that ability to take corrective and accelerating actions. 3. Obsolescence: Products that have been poorly maintained, heavily customized, or reach end-of-life due to outdated technology. Customers may be looking for an alternative deployment model (e.g., SaaS) to reduce support resource requirements. 4. Efficiency: Companies struggle with labor-intensive processes that are heavily dependent on spreadsheets and email 5. Regulation: Disclosure and accounting regulations, typically imposed by national securities regulators and industry oversight (e.g., banking, insurance, utilities). 14
  • 15. © 2014 Forrester Research, Inc. Reproduction Prohibited 15 Agenda ›FP&A drives financial performance › Trends in finance software adoption ›Strategies to deploy FP&A solutions
  • 16. Source: Forrsights Software Survey, Q4 2013 Companies of all sizes invest in planning, budgeting and forecasting software 9% 12% 12% 9% 33% 23% 3% 5% 8% 6% 12% 36% 28% 6% Not interested Interested but no plans Planning to implement in a year or more Planning to implement in the next 12 months Implemented, not expanding Expanding/ upgrading implementation Don't know Base: 1,811 at companies with 20 or more employees >1000 employees < 1000 employees What are your plans to adopt the following packaged applications (Planning, budgeting and forecasting):
  • 17. Cloud-based software growth indicates an exodus from traditional software consumption models July 2013 “A Mixed Outlook For The Global Tech Market In 2013 And 2014”
  • 18. SaaS spending is growing, but the majority remains on-premise
  • 19. Companies Look To SaaS To Improve Agility And Speed Source: Forrsights Software Survey, Q4, 2013 Base: 1,417 enterprise and SMB companies 57% 67% 69% 68% 69% 72% 75% Ability to substitute upfront costs with regular monthly payments Lower overall costs Faster delivery of new features and functions from SaaS/as-a-service… Support business innovation with new capabilities Allows us to focus resources on more important projects Speed of implementation and deployment Improved business agility Agility and Speed Cost “How important were the following benefits in your firm's decision to use SaaS?”
  • 20. © 2013 Forrester Research, Inc. Reproduction Prohibited 20 SaaS is already well-adopted within Finance
  • 21. © 2013 Forrester Research, Inc. Reproduction Prohibited 21 SaaS adoption in Finance, ERP and BI is growing rapidly
  • 22. Benefits of putting financial systems in the cloud › Business flexibility improves with software that is designed to be managed by business people  Less dependence on internal IT for systems support › Systems are upgraded and updated regularly – reduced obsolescence › Transparent cost of ownership via subscription model › Modern integration technology allows more frequent updates and better connections to internal and external stakeholders › Business insight delivered quickly and in context
  • 23. © 2014 Forrester Research, Inc. Reproduction Prohibited 23 Agenda ›FP&A drives financial performance ›Trends in finance software adoption › Strategies to deploy FP&A solutions
  • 24. 3 models for FP&A Systems 1. ERP-centric, global instance 2. Hub-and-spoke 3. Hybrid using best of breed in the cloud Corporate Accounting System FPM Corporate Accounting System(s) Consoli- dations Unit 1 Unit2 Unit3 Accounting System(s) PBF Analytics Consoli- dations Corporate Planning System(s)
  • 25. In the hub and spoke deployment model, cloud adoption typically starts within a business unit and expands Unit 1 Unit3 Corporate Planning System(s) Unit 2
  • 26. Hybrid strategy for enterprises: loosely- coupled financial systems, leveraging cloud and on-premise software Corporate Accounting System Revenue & Operations External Reporting and XBRL Planning, Budgeting & Forecasting CRM Divisional Accounting Systems Divisional Accounting Systems Divisional Accounting Systems Performance Analytics Financial Consolidations eCommerce
  • 27. Recommendations • Assess the health of your current set of financial applications and processes • Automate compliance-oriented processes to drive efficiency from “close to disclose” • Innovate your financial reporting and delivery capabilities with advanced analytics technology • Leverage modern cloud software solutions to increase flexibility and continuously keep the software up-to-date • Choose a deployment model that fits your business model – centralized, hybrid, or hub-and-spoke
  • 28. Thank you Paul Hamerman phamerman@forrester.com Twitter: @paulhamerman
  • 29. 29© 2014 Adaptive Insights | Confidential & Proprietary Adaptive Insights Overview Using the Cloud to Drive CPM
  • 30. 30© 2014 Adaptive Insights | Confidential & Proprietary We Help Organizations Transform Efficiency Customers Success Product Partners Backing Analysts 1½ FTEs Freed up to focus on strategy 100+hrs Less Finance effort 20wks Less planning and reporting 83% Faster forecasting 103 Days to report 75% Fewer Spreadsheets
  • 31. 31© 2014 Adaptive Insights | Confidential & Proprietary 31 Complete Integrated Suite  Unified BI & CPM  Built for the cloud  Powerful & flexible  Intuitive experience  Continuous innovation
  • 32. 32© 2014 Adaptive Insights | Confidential & Proprietary 2,000 customers 200+ partners 50%+ growth 85 countries #1 share Our cloud business analytics platform empowers management teams to transform their planning, reporting, consolidations and analysis – improving productivity, costs & decisions. THE GLOBAL LEADER IN CLOUD BI & CPM
  • 33. 33© 2014 Adaptive Insights | Confidential & Proprietary Enterprises Run Adaptive
  • 34. 34© 2014 Adaptive Insights | Confidential & Proprietary T H E G L O B A L L E A D E R I N C L O U D B I & C P M Tapping the Cloud at Boston Scientific Mark Powers, Manager, Operations Finance
  • 35. 35© 2014 Adaptive Insights | Confidential & Proprietary Q&A
  • 36. 36© 2014 Adaptive Insights | Confidential & Proprietary Additional Information
  • 37. 37© 2014 Adaptive Insights | Confidential & Proprietary 37 Paul Turner Sr. Director of Strategy pturner@adaptiveinsights.com Talk to us anytime! Take the Next Step!  Visit Adaptive Insights Web Site: – Complete Demo: http://www.adaptiveinsights.com/demo_recorded.php – Free Trial: http://www.adaptiveinsights.com/enterprise_trial/  Don’t forget to… – Download your copy of the Forrester report, “Planning, Analysis, And Reporting Solutions Drive Financial Performance Management” – Complete the short survey at the end of this webinar for CPE credits
  • 38. 38© 2014 Adaptive Insights | Confidential & Proprietary Thank You. Be Adaptive!