http://www.epmchannel.com/wp-content/uploads/2012/12/K03956-Fortifying-the-Close-to-Disclose-Process-20121015.pdf
Fortifying the Close to Disclose Process - Mary Driscoll , Senior Research Fellow , APQC
Strengthen alignment between the data used for regulatory reporting and the data used for planning and resource allocation by internal P&L owners. The point is to improve the quality of information used by internal decision makers. A best practice in this regard is to embrace what’s called driver-based planning—and that requires that financial data and operational metrics are aligned in the context of performance reporting. Information quality, broken down in this sense, has equal parts of accuracy, freshness, consistency, and accessibility. APQC research indicates that more senior executives working today at large, complex organizations are asking for financial data governance models that ensure performance is accurately measured and tracked consistently across the enterprise. Such an ideal would tend to rule out a heavy reliance on manual data entry and (unmanaged) spreadsheets during the close-to-disclose process.
http://www.epmchannel.com/wp-content/uploads/2012/12/K03956-Fortifying-the-Close-to-Disclose-Process-20121015.pdf
Fortifying the Close to Disclose Process - Mary Driscoll , Senior Research Fellow , APQC
For many, a big source of this problem has to do with the ungainly need to (a) take transaction data that had previously been pulled into the the general ledger by automated systems and (b) pour that data into manual processes for the final steps of close-to-disclose. What’s more, many large companies are burdened by the number of entities that have to be consolidated and the number of secondary systems that have to be tapped (e.g., treasury, tax, fixed assets, and non-FM databases such as those used in sales and marketing). An interesting perspective on this (Figures 2 and Figure 3) comes from Leinani Malig, president of Kauleo Consulting, and Trevor Gillespie, audit partner at Mohler, Nixon & Williams.
Nirvana - Errors creep in when you have multiple
versions of the truth. With so many people changing calculations, and so
many different versions, it’s no wonder errors are common. Move all of your
hierarches, calculations, data, and security to one place for everyone. It means
if there’s an error, there’s only one place to change it. Then give your business
users the power to explore the data – drill down, pivot and analyze results,
annotate and share insights. Everyone has the same view, and everyone is
checking the same data for quality. Goodbye, errors.
Eliminate the negative ~ Accentuate the Positive
Page 6 – ¾ respondents thought useful if could connecct spreadsheets to their source data systems.
Extracting Value from Automation: KPMG
Extracting value from automation
As most CFOs will attest, one of their greatest challenges is the constant need to balance
multiple priorities with limited resources. Recently, CFO attention has moved away
from the heavy focus on cost control and frugality, towards supporting the business and
enabling strategically-driven growth. This was seen in the
2010 IBM Global CFO Study
,
in which over 1,900 CFOs and senior finance leaders worldwide ranked ‘providing inputs
into enterprise strategy’ as the most important aspect of their role in the near term.
The ability to provide inputs into strategy depends on the finance function’s capacity to produce financial and
performance data for management, boards and external stakeholders in a timely manner. To support decision-
making, it is essential that this information gets to the right users at the right time. The challenge is to improve
these activities in the current cost-constrained environment
Automated Process & Technology Should…
copying pasting
Without repaginating when a new page needs inserting into report or budget books…
http://www.epmchannel.com/wp-content/uploads/2012/12/K03956-Fortifying-the-Close-to-Disclose-Process-20121015.pdf
Fortifying the Close to Disclose Process - Mary Driscoll , Senior Research Fellow , APQC
Strengthen alignment between the data used for regulatory reporting and the data used for planning and resource allocation by internal P&L owners. The point is to improve the quality of information used by internal decision makers. A best practice in this regard is to embrace what’s called driver-based planning—and that requires that financial data and operational metrics are aligned in the context of performance reporting. Information quality, broken down in this sense, has equal parts of accuracy, freshness, consistency, and accessibility. APQC research indicates that more senior executives working today at large, complex organizations are asking for financial data governance models that ensure performance is accurately measured and tracked consistently across the enterprise. Such an ideal would tend to rule out a heavy reliance on manual data entry and (unmanaged) spreadsheets during the close-to-disclose process.
A key here is that for dashboards and analysis to be effective it shouldn’t be reliant on IT. It should be in the hands of the business, so with Adaptive Discovery analytics is self-service. Everything from picking time periods – to drilling down – it’s all business user friendly.
Most importantly – this helps with adoption, making it easy for everyone to get started and get their own questions answered.
http://www.epmchannel.com/wp-content/uploads/2012/12/K03956-Fortifying-the-Close-to-Disclose-Process-20121015.pdf
Fortifying the Close to Disclose Process - Mary Driscoll , Senior Research Fellow , APQC
Strengthen alignment between the data used for regulatory reporting and the data used for planning and resource allocation by internal P&L owners. The point is to improve the quality of information used by internal decision makers. A best practice in this regard is to embrace what’s called driver-based planning—and that requires that financial data and operational metrics are aligned in the context of performance reporting. Information quality, broken down in this sense, has equal parts of accuracy, freshness, consistency, and accessibility. APQC research indicates that more senior executives working today at large, complex organizations are asking for financial data governance models that ensure performance is accurately measured and tracked consistently across the enterprise. Such an ideal would tend to rule out a heavy reliance on manual data entry and (unmanaged) spreadsheets during the close-to-disclose process.
What’s the company model that will give the strategic, cross-enterprise view that the new finance org needs? Esp in a world where less than half CFOs think they are effective at performance management and 77% think they have a substantial role in gaining insight from data.
That model has finance in the center, gathering and synthesizing data from across the org, with tools for perf mgmt and extracting insight from data.
Anoher aspect of delivering analytics easily, is accessibility. You want people to be able to access the inforematino and analytis they need, with any devide.
Once again, Cloud offers benefits here as well because with the cloud the information can be accessed from anywhere, same way access Amazon or Google , can access dashboards KPISa from tablet, phone, desktop
Delivering analytics easily is a vital part of meeting the final ACID test. The cloud is helping strategic finance leaders do just that.
Our customers value the anytime anywhere delivery that the cloud delivers, from our 100% modern, web based solution – from end users, to development, to administration. Adaptive makes performance management from anywhere easy.
Adaptive Suite
AI & AD together
Paul’s slide on what AI brings (analyst decision maker)
We provide the only unified BI & CPM suite built from the “cloud up” – planning, reporting, consolidation and analytics solutions that are innovative, powerful and intuitive for all types of business users. We ensure customer success with the industry’s best service, support, and partner ecosystem.
The Adaptive Suite is the most complete cloud CPM and BI suite, including unified planning, reporting, consolidation and analytics solutions that are modern, powerful and intuitive for all types of business users. The Adaptive Suite is modern at the core, with built-in analytics, web and mobile access, and native collaboration capabilities.
Adaptive Planning: Adaptive Planning provides comprehensive budgeting, planning, and forecasting that’s proven to reduce cycle times by up to 90%. With an incredibly intuitive “Excel-like” interface, it’s easy to collaboratively plan and forecast revenue, expenses and headcount, create rolling forecasts, and more.
Adaptive Consolidation: Cut time and resources spent closing and reporting with Adaptive Consolidation. With a real-time consolidation engine at the core, it includes journal entry management, intercompany eliminations, account reclassifications, and even collaborative close process management – all as an easy to deploy cloud service.
Adaptive Discovery: It’s simple to visually uncover insights into financial, sales, and operational performance with Adaptive Discovery. Intuitive dashboards, interactive scorecards, and even what-if modeling make it easy for every business user to analyze results and trends.
Adaptive Reporting: Adaptive Reporting provides comprehensive financial, management, board and transactional reporting, all available through an easy to use web native drag-and-drop report builder. It’s completely self-service reporting for everyone.
Adaptive Integration: With a powerful integration platform that connects on-premise and cloud investments to the suite, Adaptive Integration provides a comprehensive range of connectors to leading ERP, CRM, and proprietary and data warehouse sources. It’s easier than ever before to turn data to insight.
We provide the only unified BI & CPM suite built from the “cloud up” – planning, reporting, consolidation and analytics solutions that are innovative, powerful and intuitive for all types of business users. We ensure customer success with the industry’s best service, support, and partner ecosystem.
The Adaptive Suite is the most complete cloud CPM and BI suite, including unified planning, reporting, consolidation and analytics solutions that are modern, powerful and intuitive for all types of business users. The Adaptive Suite is modern at the core, with built-in analytics, web and mobile access, and native collaboration capabilities.
Adaptive Planning: Adaptive Planning provides comprehensive budgeting, planning, and forecasting that’s proven to reduce cycle times by up to 90%. With an incredibly intuitive “Excel-like” interface, it’s easy to collaboratively plan and forecast revenue, expenses and headcount, create rolling forecasts, and more.
Adaptive Consolidation: Cut time and resources spent closing and reporting with Adaptive Consolidation. With a real-time consolidation engine at the core, it includes journal entry management, intercompany eliminations, account reclassifications, and even collaborative close process management – all as an easy to deploy cloud service.
Adaptive Discovery: It’s simple to visually uncover insights into financial, sales, and operational performance with Adaptive Discovery. Intuitive dashboards, interactive scorecards, and even what-if modeling make it easy for every business user to analyze results and trends.
Adaptive Reporting: Adaptive Reporting provides comprehensive financial, management, board and transactional reporting, all available through an easy to use web native drag-and-drop report builder. It’s completely self-service reporting for everyone.
Adaptive Integration: With a powerful integration platform that connects on-premise and cloud investments to the suite, Adaptive Integration provides a comprehensive range of connectors to leading ERP, CRM, and proprietary and data warehouse sources. It’s easier than ever before to turn data to insight.
We provide the only unified BI & CPM suite built from the “cloud up” – planning, reporting, consolidation and analytics solutions that are innovative, powerful and intuitive for all types of business users. We ensure customer success with the industry’s best service, support, and partner ecosystem.
The Adaptive Suite is the most complete cloud CPM and BI suite, including unified planning, reporting, consolidation and analytics solutions that are modern, powerful and intuitive for all types of business users. The Adaptive Suite is modern at the core, with built-in analytics, web and mobile access, and native collaboration capabilities.
Adaptive Planning: Adaptive Planning provides comprehensive budgeting, planning, and forecasting that’s proven to reduce cycle times by up to 90%. With an incredibly intuitive “Excel-like” interface, it’s easy to collaboratively plan and forecast revenue, expenses and headcount, create rolling forecasts, and more.
Adaptive Consolidation: Cut time and resources spent closing and reporting with Adaptive Consolidation. With a real-time consolidation engine at the core, it includes journal entry management, intercompany eliminations, account reclassifications, and even collaborative close process management – all as an easy to deploy cloud service.
Adaptive Discovery: It’s simple to visually uncover insights into financial, sales, and operational performance with Adaptive Discovery. Intuitive dashboards, interactive scorecards, and even what-if modeling make it easy for every business user to analyze results and trends.
Adaptive Reporting: Adaptive Reporting provides comprehensive financial, management, board and transactional reporting, all available through an easy to use web native drag-and-drop report builder. It’s completely self-service reporting for everyone.
Adaptive Integration: With a powerful integration platform that connects on-premise and cloud investments to the suite, Adaptive Integration provides a comprehensive range of connectors to leading ERP, CRM, and proprietary and data warehouse sources. It’s easier than ever before to turn data to insight.
We provide the only unified BI & CPM suite built from the “cloud up” – planning, reporting, consolidation and analytics solutions that are innovative, powerful and intuitive for all types of business users. We ensure customer success with the industry’s best service, support, and partner ecosystem.
The Adaptive Suite is the most complete cloud CPM and BI suite, including unified planning, reporting, consolidation and analytics solutions that are modern, powerful and intuitive for all types of business users. The Adaptive Suite is modern at the core, with built-in analytics, web and mobile access, and native collaboration capabilities.
Adaptive Planning: Adaptive Planning provides comprehensive budgeting, planning, and forecasting that’s proven to reduce cycle times by up to 90%. With an incredibly intuitive “Excel-like” interface, it’s easy to collaboratively plan and forecast revenue, expenses and headcount, create rolling forecasts, and more.
Adaptive Consolidation: Cut time and resources spent closing and reporting with Adaptive Consolidation. With a real-time consolidation engine at the core, it includes journal entry management, intercompany eliminations, account reclassifications, and even collaborative close process management – all as an easy to deploy cloud service.
Adaptive Discovery: It’s simple to visually uncover insights into financial, sales, and operational performance with Adaptive Discovery. Intuitive dashboards, interactive scorecards, and even what-if modeling make it easy for every business user to analyze results and trends.
Adaptive Reporting: Adaptive Reporting provides comprehensive financial, management, board and transactional reporting, all available through an easy to use web native drag-and-drop report builder. It’s completely self-service reporting for everyone.
Adaptive Integration: With a powerful integration platform that connects on-premise and cloud investments to the suite, Adaptive Integration provides a comprehensive range of connectors to leading ERP, CRM, and proprietary and data warehouse sources. It’s easier than ever before to turn data to insight.
We provide the only unified BI & CPM suite built from the “cloud up” – planning, reporting, consolidation and analytics solutions that are innovative, powerful and intuitive for all types of business users. We ensure customer success with the industry’s best service, support, and partner ecosystem.
The Adaptive Suite is the most complete cloud CPM and BI suite, including unified planning, reporting, consolidation and analytics solutions that are modern, powerful and intuitive for all types of business users. The Adaptive Suite is modern at the core, with built-in analytics, web and mobile access, and native collaboration capabilities.
Adaptive Planning: Adaptive Planning provides comprehensive budgeting, planning, and forecasting that’s proven to reduce cycle times by up to 90%. With an incredibly intuitive “Excel-like” interface, it’s easy to collaboratively plan and forecast revenue, expenses and headcount, create rolling forecasts, and more.
Adaptive Consolidation: Cut time and resources spent closing and reporting with Adaptive Consolidation. With a real-time consolidation engine at the core, it includes journal entry management, intercompany eliminations, account reclassifications, and even collaborative close process management – all as an easy to deploy cloud service.
Adaptive Discovery: It’s simple to visually uncover insights into financial, sales, and operational performance with Adaptive Discovery. Intuitive dashboards, interactive scorecards, and even what-if modeling make it easy for every business user to analyze results and trends.
Adaptive Reporting: Adaptive Reporting provides comprehensive financial, management, board and transactional reporting, all available through an easy to use web native drag-and-drop report builder. It’s completely self-service reporting for everyone.
Adaptive Integration: With a powerful integration platform that connects on-premise and cloud investments to the suite, Adaptive Integration provides a comprehensive range of connectors to leading ERP, CRM, and proprietary and data warehouse sources. It’s easier than ever before to turn data to insight.