CFO Asia Forum - July 2011, Singapore
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The challenges and opportunities faced today by CFOs and Finance professionals are echoed across all industries. This presentation will help you make the most of Dynamic Analysis by showing easy-to-interpret, visually powerful KPI's in one dashboard view that includes Revenues, Profitability, Cost of Revenues, Net Revenue, SGA, Operating Income, ROI, Gross Profit %, Current Ratio, Inventory Turn, Leverage and more. All in a single view.
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CFO Asia Forum - July 2011, Singapore
- 1. Welcome to the CFO Asia Forum 2011 - Session begins at 5 pm Knowledge Management Solutions
- 7. Piecing the Financial Bits Together
- 10. Financial Dashboard Platform - QlikView
- 14. Financial Dashboard – Global Mobility
- 16. Reading the Financial Statement
- 20. We Make Things Easier Customer Profiling (e.g. DW) Financials Projections (Excel ) Local Intelligence (MS Access) External Data Source (e.g. Currency Exchange) ERP/CRM Systems
Editor's Notes
- Most finance organizations have invested in performance management applications (budgeting, planning, consolidation etc.) to control financial performance, report financial results and automation of report creation and distribution for decades But financial results are a lagging indicator of an organization’s performance. Traditional finance processes like budgeting and financial reporting alone provide little information about the dynamically changing forces that impact financial performance. These applications have delivered on the goals of improved transaction processing and finance process automation. But CFOs today want more than just process improvement, they want the ability to drive strategic decisions and influence enterprise strategy. To elevate the role of Finance from transaction processing and financial reporting to improving business performance and decision-making, Finance must both automate tactical tasks and use its financial knowledge and business acumen to drive insightful decision-making. To gain maximum insight from their financial information, Finance should take advantage of the recent advances in self service business intelligence and analysis What we at KMS have learnt from our interaction with quite a few finance professionals is that historically Performance management has been the domain of Finance and Business Intelligence (BI) the domain of IT. But with recent BI advancements in ease of use, self-service capabilities and SaaS deployment options Finance is taking the lead in driving business decision-making by incorporating BI into the performance management process.
- Consistent, correct data. That doesn’t sound too complicated, does it? But actually, one of the most daunting challenges facing CFOs and their staffs today is how to ensure that the financial information they supply to stakeholders, both externally and internally, is consistent and correct. Why do we rely on so much manual reconciliation to audit and trace the data flows across systems each month. Gathering all our data into spreadsheets is not managing data – it’s just masking our problems. Not only do we risk creating incorrect numbers, but it drains our productivity by requiring our skilled and highly paid staff to spend inordinate amounts of time hunting and gathering data. IBM have just released their 2010 study of over 1,900 Chief Financial Officers (CFOs) and senior finance executives from across the globe and the verdict is that “Cost reduction matters to today's CFO, but Playing their part in the wider corporate strategy is now the top priority for CFOs who no longer rank cost reduction at the top of their agenda.” As a direct result of the economic crisis of the last 18 months, chief financial officers at midmarket organizations have greater clout and decision-making power than ever before, and yet a dispiriting majority of them say they lack insight and access to the data they need to be effective. The CFOs cited three main priorities in the year ahead: reducing the enterprise cost base, making faster, more accurate decisions and providing more transparency to external stakeholders. Achieving these goals necessitates the use of technology. Business intelligence and analytics solutions, financial applications and other sophisticated software tools will be critical to helping CFOs get their job done, while affording solution providers tremendous opportunity to serve this market.
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