A presentation by IBM on the topic of "The Future Of Finance" examining emerging trends, and how accountants can to prepare for the transition from "running the numbers" to being value-adding partners to the business.
It is widely accepted that executives and board of directors must lead their enterprises on a narrow path between value creation and risk mitigation. We call it the sustainability, reliability and longevity triangle. To perform these difficult tasks, it is necessary to scrutinize current and future transformations only years ahead. This webinar is the first of a series to explore how digital transformation (DX) and ESG/CSR must be integrated to create new frameworks and roadmaps.
Agenda
• DX: what is it and what is not? (Hint DX leads to business model changes,
impacting the environment, and stakeholders and stockholders) - Manuel Vexler
• DX for generating new ESG opportunities (Potential solutions for current issues and challenges in ESG sustainability management and investing through ESG+DX integration) – Alex G. Lee
• Case studies on ESG risks caused by DX (e.g., social, reskilling, jobs lost to
automation) – Manuel Vexler
Agenda:
Part I
ESG Trends to Watch in 2021 - Alex G. Lee
The Role and ROI of ESG in Private Equity - Mike Spaeth
The state of the art AI innovations Status - Alex G. Lee
Part II
Status of AI applications for ESG - Alex G. Lee
Live Demos of AI applications for ESG analysis (ESG scoring, investing opportunities/risks identification) - Alex G. Lee
Weave.AI's Spectrum ESG Demo - Nosa Omoigui
EcoVadis' (https://ecovadis.com/) Business Sustainability Ratings Practices - Mike Spaeth
Part III
Status of blockchain applications for ESG - Alex G. Lee
Introduction of DeFi- Alex G. Lee
DeFi based ESG financing platform development - Alex G. Lee
Part IV
Q&A & Discussion - Alex G. Lee & Mike Spaeth
The second consecutive year Alaya Consulting conducted a research on the ESG disclosure of the top 200 listed companies in Hong Kong by market capitalization.
Based on the IoT innovation analysis and insights for the future IoT innovation/business directions, the IoT products/services innovation and patent portfolios development strategy can be developed by exploiting the system evolution principle (e.g. TRIZ) for each subsystem and the system as a whole and scenario planning methodology.
Existing patents can be exploited for the development of the disruptive IoT products/services using the “Blue Ocean Patent Strategy.” The basic principle in the Blue Ocean Patent Strategy is to exploit patents to achieve the value innovation by using the patented technologies to create new values, and thus, to provide new products/services. The exploitation of existing patented technologies not only allows the low cost IoT product/service development but also provides the protection against competitors’ infringement. Existing patents can also be exploited for the development of a new IoT startup.
ESG DX enables effective integration of ESG sustainability into business strategy, model, and operations based on data-driven material ESG risks/opportunities/impacts assessment across supply and value chain.
ESG DX enables ESG sustainability data informed decision-making to lead an ESG sustainable company.
ESG DX enables ESG sustainability data gathering and sharing for sustainable development of innovative products/services and their manufacturing/providing.
ESG DX enables ESG sustainability serve as a growth engine by innovating company’s operations, products and services, as well as creating new revenue streams.
ESG DX enables automation of ESG sustainability performance measurement and reporting process.
Contents
I. ESG Introduction
ESG Management Matters?
ESG Investment Matters?
ESG Management Status
ESG Investment Status
ESG Investing Consideration Core Factors
ESG Reporting Frameworks & Guidelines
ESG Reporting Trends to Watch in 2021
ESG in S. Korea
My ESG Book Recommendation
II. AI & Blockchain Applications for ESG
AI Applications for ESG Investing Demos
ESG Knowledge Map (AI Topic Modeling)
ESG Performance Score - Materiality Comparisons Across Industries
ESG Incident (Risks) Analysis in S. Korea
Blockchain for ESG Management
Blockchain DeFi Based ESG Financing
DeFi Based ESG Financing Platform Development
DeFi Reference
III. ESG Digital Transformation
ESG Digital Transformation (DX)
The Fourth Wave of Environmentalism
AI Innovation State Of The Art
Blockchain State Of The Art: Issues with Public Chain
IoT Innovation State Of The Art: 5G & Edge AI
AI Blockchain IoT for ESG Digital Transformation AT A Glance
ESG DX Innovation Insights from Patents
AI Blockchain IoT Convergence for ESG DX Insights from Patents
ESG Cybersecurity & Privacy
ESG Cybersecurity & Privacy Reporting Standard
Global Standard for Reporting Cybersecurity & Privacy
Cybersecurity & Privacy Reporting Standard Development
ESG DX Framework Development
Issues with Current ESG Performance Evaluation
ESG DX for ESG Management & Investment
WEF/IBC Metrics & Disclosure Standard
SASB Materiality Map
How to Determine Materiality?
ESG DX Framework for Metrics Digitalization & Reporting Automation Exploiting Existing IT/Digital Technology System
ESG DX Framework for ESG Metrics Data Governance
ESG DX Framework for Business Innovation & Growth
ESG DX Framework based on AI+Blockchain+IoT Convergence
ESG DX Framework for New Deal Project in S. Korea
ESG DX Forum
It is widely accepted that executives and board of directors must lead their enterprises on a narrow path between value creation and risk mitigation. We call it the sustainability, reliability and longevity triangle. To perform these difficult tasks, it is necessary to scrutinize current and future transformations only years ahead. This webinar is the first of a series to explore how digital transformation (DX) and ESG/CSR must be integrated to create new frameworks and roadmaps.
Agenda
• DX: what is it and what is not? (Hint DX leads to business model changes,
impacting the environment, and stakeholders and stockholders) - Manuel Vexler
• DX for generating new ESG opportunities (Potential solutions for current issues and challenges in ESG sustainability management and investing through ESG+DX integration) – Alex G. Lee
• Case studies on ESG risks caused by DX (e.g., social, reskilling, jobs lost to
automation) – Manuel Vexler
Agenda:
Part I
ESG Trends to Watch in 2021 - Alex G. Lee
The Role and ROI of ESG in Private Equity - Mike Spaeth
The state of the art AI innovations Status - Alex G. Lee
Part II
Status of AI applications for ESG - Alex G. Lee
Live Demos of AI applications for ESG analysis (ESG scoring, investing opportunities/risks identification) - Alex G. Lee
Weave.AI's Spectrum ESG Demo - Nosa Omoigui
EcoVadis' (https://ecovadis.com/) Business Sustainability Ratings Practices - Mike Spaeth
Part III
Status of blockchain applications for ESG - Alex G. Lee
Introduction of DeFi- Alex G. Lee
DeFi based ESG financing platform development - Alex G. Lee
Part IV
Q&A & Discussion - Alex G. Lee & Mike Spaeth
The second consecutive year Alaya Consulting conducted a research on the ESG disclosure of the top 200 listed companies in Hong Kong by market capitalization.
Based on the IoT innovation analysis and insights for the future IoT innovation/business directions, the IoT products/services innovation and patent portfolios development strategy can be developed by exploiting the system evolution principle (e.g. TRIZ) for each subsystem and the system as a whole and scenario planning methodology.
Existing patents can be exploited for the development of the disruptive IoT products/services using the “Blue Ocean Patent Strategy.” The basic principle in the Blue Ocean Patent Strategy is to exploit patents to achieve the value innovation by using the patented technologies to create new values, and thus, to provide new products/services. The exploitation of existing patented technologies not only allows the low cost IoT product/service development but also provides the protection against competitors’ infringement. Existing patents can also be exploited for the development of a new IoT startup.
ESG DX enables effective integration of ESG sustainability into business strategy, model, and operations based on data-driven material ESG risks/opportunities/impacts assessment across supply and value chain.
ESG DX enables ESG sustainability data informed decision-making to lead an ESG sustainable company.
ESG DX enables ESG sustainability data gathering and sharing for sustainable development of innovative products/services and their manufacturing/providing.
ESG DX enables ESG sustainability serve as a growth engine by innovating company’s operations, products and services, as well as creating new revenue streams.
ESG DX enables automation of ESG sustainability performance measurement and reporting process.
Contents
I. ESG Introduction
ESG Management Matters?
ESG Investment Matters?
ESG Management Status
ESG Investment Status
ESG Investing Consideration Core Factors
ESG Reporting Frameworks & Guidelines
ESG Reporting Trends to Watch in 2021
ESG in S. Korea
My ESG Book Recommendation
II. AI & Blockchain Applications for ESG
AI Applications for ESG Investing Demos
ESG Knowledge Map (AI Topic Modeling)
ESG Performance Score - Materiality Comparisons Across Industries
ESG Incident (Risks) Analysis in S. Korea
Blockchain for ESG Management
Blockchain DeFi Based ESG Financing
DeFi Based ESG Financing Platform Development
DeFi Reference
III. ESG Digital Transformation
ESG Digital Transformation (DX)
The Fourth Wave of Environmentalism
AI Innovation State Of The Art
Blockchain State Of The Art: Issues with Public Chain
IoT Innovation State Of The Art: 5G & Edge AI
AI Blockchain IoT for ESG Digital Transformation AT A Glance
ESG DX Innovation Insights from Patents
AI Blockchain IoT Convergence for ESG DX Insights from Patents
ESG Cybersecurity & Privacy
ESG Cybersecurity & Privacy Reporting Standard
Global Standard for Reporting Cybersecurity & Privacy
Cybersecurity & Privacy Reporting Standard Development
ESG DX Framework Development
Issues with Current ESG Performance Evaluation
ESG DX for ESG Management & Investment
WEF/IBC Metrics & Disclosure Standard
SASB Materiality Map
How to Determine Materiality?
ESG DX Framework for Metrics Digitalization & Reporting Automation Exploiting Existing IT/Digital Technology System
ESG DX Framework for ESG Metrics Data Governance
ESG DX Framework for Business Innovation & Growth
ESG DX Framework based on AI+Blockchain+IoT Convergence
ESG DX Framework for New Deal Project in S. Korea
ESG DX Forum
SustainTech - How data and emerging technologies can help build digital trust in ESG investments to achieve the United Nations Sustainable Development Goals (SDG).
The role of AI in identifying emerging risks in financial servicesMaeva J. Charles
The session explores the role of AI and big data in improving risk management and building business resilience in Financial Services. You will get a broader perspective into emerging (also referred as non-financial or Environment, Social and Governance (ESG)) risks in Financial Services. Finally you will be walked through a case study with a leading bank on their use of AI to future-proof their organization.
Agenda:
Part I
ESG Trends to Watch in 2021 - Alex G. Lee
The Role and ROI of ESG in Private Equity - Mike Spaeth
The state of the art AI innovations Status - Alex G. Lee
Part II
Status of AI applications for ESG - Alex G. Lee
Live Demos of AI applications for ESG analysis (ESG scoring, investing opportunities/risks identification) - Alex G. Lee
EcoVadis' (https://ecovadis.com/) Business Sustainability Ratings Practices - Mike Spaeth
Part III
Status of blockchain applications for ESG - Alex G. Lee
Introduction of DeFi- Alex G. Lee
DeFi based ESG financing platform development - Alex G. Lee
Part IV
Q&A & Discussion - Alex G. Lee & Mike Spaeth
Contents
Discovery-Driven Digital Transformation by Rita McGrath and Ryan McManus
The Transformative Business Model by Stelios Kavadias, Kostas Ladas, and Christoph Loch
Digital Doesn’t Have to Be Disruptive by Nathan Furr and Andrew Shipilov
What’s Your Data Strategy? by Leandro DalleMule and Thomas H. Davenport
Competing in the Age of AI by Marco Iansiti and Karim R. Lakhani
Building the AI-Powered Organization by Tim Fountaine, Brian McCarthy, and Tamim Saleh How Smart,
Connected Products Are Transforming Companies by Michael E. Porter and James E. Heppelmann
The Age of Continuous Connection
The Problem with Legacy Ecosystems by Maxwell Wessel, Aaron Levie, and Robert Siegel
Your Workforce Is More Adaptable Than You Think by Joseph B. Fuller, Judith K. Wallenstein, Manjari Raman, and Alice de Chalendar
How Apple Is Organized for Innovation by Joel M. Podolny and Morten T. Hansen
Digital Transformation Comes Down to Talent in Four Key Areas
UN SDG SDGs Sustainability Impacts KPIs are for the assessment of actual impacts on sustainable development through sustainability impact management and investment.
Example/Best practices of sustainability impact management and investment for each SDG ESG topics are illustrated.
TiiQu Talks on A Sustainable Tomorrow
ESG Sustainability Imperative
Climate Change Effects; Carbon Emission Sources; Decarbonization Solutions
ESG Knowledge Map
ESG Strategic Planning and Program Management
Carbon Net-Zero Management (TCFD)
ESG Reporting Frameworks & Guidelines
ESG Reporting Trends in 2021
Digital Technology for ESG Sustainability Innovation
ESG Sustainability Assessment Ecosystem
Sustainability Performance Assessment for S&P 500 High-Tech Industry
ESG Sustainability Management/Assessment Issues & Challenges & Solutions
SDG-SASB-GRI-WEF ESG Metrics Mapping
Digital Solutions for ESG Sustainability Investing/Management
ESG + Digital Integrated Transformation (ESGDX) Imperative
ESGDX Benefits and Requirements: Business Models
How ESGDX Can Create New Revenue Streams?
ESGDX Benefits and Requirements: Business Operations
Metaverse Enterprise
Digital Twins for Dynamic Carbon Net-Zero Management
Digital Twins Use Case: A Pulp/Paper Company in S. Korea
Metaverse for Sustainable Smart City
Present and Future of Metaverse Infographics
Technology for Good : 2011 Corporate Responsibility & Sustainability ReportEricsson Slides
http://www.ericsson.com/thecompany/sustainability_corporateresponsibility.
This report, together with additional information available online,
summarizes our 2011 sustainability and corporate responsibility
(CR) performance. For us, sustainability is about the ‘‘triple bottom
line” – long-term social equity, economic prosperity and environmental performance
As managing ESG and sustainability issues have become mainstream business practice, there is no doubt in the minds of corporate leaders that ESG/sustainability issues should be a top priority agenda in boardrooms. However, it is still challenging to integrate ESG/sustainability considerations fully into business practices due to the difference between short-term financial goals and longer-term ESG/sustainability performance. Thus, top executives usually give weight to the shorter-term financial metrics when trade-offs between financial and ESG/sustainability performance come into focus. How can companies achieve short-term profits and ESG/sustainability goals at the same time?
Agenda
ESG/Sustainability Imperative v. Conundrum
Stakeholder Capitalism v. Purpose
Sustainable Economic GrowthValue Innovation for Sustainable Economic Growth
Business Model Innovation for Profitable and Sustainable Business
Sustainability Balanced Scorecard for TBL
Industry/Business Specific Cases
9 lithium trade-off studies that can reduce CAPEX and OPEXAdvisian
With the popularity of electric vehicles (EVs) growing far faster than predicted, lithium will continue to be a hot commodity in 2018. To maximise return on investment and reduce your risk there are nine trade-off studies that can be undertaken to optimise your technical choices.
Although a majority of executives say sustainability is necessary to be competitive, most companies still aren't profiting from their sustainability efforts. BCG and MIT Sloan Management Review present the results of their 2013 sustainability survey, including a look at companies that "walk the talk" when it comes to sustainability issues.
Addressing the shifting landscape across policy & regulation, revenue, business model innovation, technology innovation and changing consumer behavior, Indigo Advisory Group has created a series of tools, frameworks and strategies to help utilities manage the energy transition
SustainTech - How data and emerging technologies can help build digital trust in ESG investments to achieve the United Nations Sustainable Development Goals (SDG).
The role of AI in identifying emerging risks in financial servicesMaeva J. Charles
The session explores the role of AI and big data in improving risk management and building business resilience in Financial Services. You will get a broader perspective into emerging (also referred as non-financial or Environment, Social and Governance (ESG)) risks in Financial Services. Finally you will be walked through a case study with a leading bank on their use of AI to future-proof their organization.
Agenda:
Part I
ESG Trends to Watch in 2021 - Alex G. Lee
The Role and ROI of ESG in Private Equity - Mike Spaeth
The state of the art AI innovations Status - Alex G. Lee
Part II
Status of AI applications for ESG - Alex G. Lee
Live Demos of AI applications for ESG analysis (ESG scoring, investing opportunities/risks identification) - Alex G. Lee
EcoVadis' (https://ecovadis.com/) Business Sustainability Ratings Practices - Mike Spaeth
Part III
Status of blockchain applications for ESG - Alex G. Lee
Introduction of DeFi- Alex G. Lee
DeFi based ESG financing platform development - Alex G. Lee
Part IV
Q&A & Discussion - Alex G. Lee & Mike Spaeth
Contents
Discovery-Driven Digital Transformation by Rita McGrath and Ryan McManus
The Transformative Business Model by Stelios Kavadias, Kostas Ladas, and Christoph Loch
Digital Doesn’t Have to Be Disruptive by Nathan Furr and Andrew Shipilov
What’s Your Data Strategy? by Leandro DalleMule and Thomas H. Davenport
Competing in the Age of AI by Marco Iansiti and Karim R. Lakhani
Building the AI-Powered Organization by Tim Fountaine, Brian McCarthy, and Tamim Saleh How Smart,
Connected Products Are Transforming Companies by Michael E. Porter and James E. Heppelmann
The Age of Continuous Connection
The Problem with Legacy Ecosystems by Maxwell Wessel, Aaron Levie, and Robert Siegel
Your Workforce Is More Adaptable Than You Think by Joseph B. Fuller, Judith K. Wallenstein, Manjari Raman, and Alice de Chalendar
How Apple Is Organized for Innovation by Joel M. Podolny and Morten T. Hansen
Digital Transformation Comes Down to Talent in Four Key Areas
UN SDG SDGs Sustainability Impacts KPIs are for the assessment of actual impacts on sustainable development through sustainability impact management and investment.
Example/Best practices of sustainability impact management and investment for each SDG ESG topics are illustrated.
TiiQu Talks on A Sustainable Tomorrow
ESG Sustainability Imperative
Climate Change Effects; Carbon Emission Sources; Decarbonization Solutions
ESG Knowledge Map
ESG Strategic Planning and Program Management
Carbon Net-Zero Management (TCFD)
ESG Reporting Frameworks & Guidelines
ESG Reporting Trends in 2021
Digital Technology for ESG Sustainability Innovation
ESG Sustainability Assessment Ecosystem
Sustainability Performance Assessment for S&P 500 High-Tech Industry
ESG Sustainability Management/Assessment Issues & Challenges & Solutions
SDG-SASB-GRI-WEF ESG Metrics Mapping
Digital Solutions for ESG Sustainability Investing/Management
ESG + Digital Integrated Transformation (ESGDX) Imperative
ESGDX Benefits and Requirements: Business Models
How ESGDX Can Create New Revenue Streams?
ESGDX Benefits and Requirements: Business Operations
Metaverse Enterprise
Digital Twins for Dynamic Carbon Net-Zero Management
Digital Twins Use Case: A Pulp/Paper Company in S. Korea
Metaverse for Sustainable Smart City
Present and Future of Metaverse Infographics
Technology for Good : 2011 Corporate Responsibility & Sustainability ReportEricsson Slides
http://www.ericsson.com/thecompany/sustainability_corporateresponsibility.
This report, together with additional information available online,
summarizes our 2011 sustainability and corporate responsibility
(CR) performance. For us, sustainability is about the ‘‘triple bottom
line” – long-term social equity, economic prosperity and environmental performance
As managing ESG and sustainability issues have become mainstream business practice, there is no doubt in the minds of corporate leaders that ESG/sustainability issues should be a top priority agenda in boardrooms. However, it is still challenging to integrate ESG/sustainability considerations fully into business practices due to the difference between short-term financial goals and longer-term ESG/sustainability performance. Thus, top executives usually give weight to the shorter-term financial metrics when trade-offs between financial and ESG/sustainability performance come into focus. How can companies achieve short-term profits and ESG/sustainability goals at the same time?
Agenda
ESG/Sustainability Imperative v. Conundrum
Stakeholder Capitalism v. Purpose
Sustainable Economic GrowthValue Innovation for Sustainable Economic Growth
Business Model Innovation for Profitable and Sustainable Business
Sustainability Balanced Scorecard for TBL
Industry/Business Specific Cases
9 lithium trade-off studies that can reduce CAPEX and OPEXAdvisian
With the popularity of electric vehicles (EVs) growing far faster than predicted, lithium will continue to be a hot commodity in 2018. To maximise return on investment and reduce your risk there are nine trade-off studies that can be undertaken to optimise your technical choices.
Although a majority of executives say sustainability is necessary to be competitive, most companies still aren't profiting from their sustainability efforts. BCG and MIT Sloan Management Review present the results of their 2013 sustainability survey, including a look at companies that "walk the talk" when it comes to sustainability issues.
Addressing the shifting landscape across policy & regulation, revenue, business model innovation, technology innovation and changing consumer behavior, Indigo Advisory Group has created a series of tools, frameworks and strategies to help utilities manage the energy transition
Financial Markets Data & Analytics Led TransformationGianpaolo Zampol
How big data, advanced analytics and cognitive computing is disrupting traditional business and operating models in financial markets? New competitors, powered by social, mobile, analytics, and cloud computing, are making new business models emerging rapidly. Wealth Management, Corporate Banking and Transaction Banking & Payments are significant sources of growth in Financial Markets. How take advantage from those new technologies to face this new scenario?
Enterprises face unprecedented challenges, and finance is at the epicenter. Increasing business risk and volatility are evidenced by accelerating business disruption through
disintermediation, virtualization and technical innovation. As a result, new competitors, changing business models and changing customer expectations have emerged.
How Finance is driving growth in the Digital Age via OpenTextOpenText
In the digital age, finance business processes are shifting from batch to real-time, retrospective to predictive, and internally-focused to customer-centric. Innovative companies can drive growth by focusing on the revenue stream from an outside-in perspective. Learn more from OpenText at http://www.opentext.com/campaigns/rundigital/digitize-business/sap-finance/sap-finance-wod
Kofax Connect: Making the First Mile of Business SmarterKofax
With the explosive growth of mobile devices, today's customers desire rapid response from the companies they do business with from the first moments of engagement. This presentation discusses how you can leverage mobile technology during these initial interactions – the First Mile – to gain competitive advantage, streamline business processes, and improve customer response time.
At Alpha, we have following business priorities that our executives are trying to solve:
1. Can Alpha be the Transformation Pioneer in modernising Digital Banking?
Disruptions in the business landscape and the impact of technology are compelling banks to shift to innovative business models, while delivering superior experience with agility. Banks are challenged majorly on two fronts. On one hand, the changing customer expectations and the entry of innovative players in the market are driving them to be highly competitive to stay relevant. On the other hand, new regulations are striving for changes that promote more competition and collaboration in the ecosystem. They have created an undeniable need for the payment architecture and banking services to be highly flexible and efficient.
The team at Alpha constantly innovates and works towards shaping the future in payments, digital channels, credit services, digital core, and commercial and corporate banking. How can the team ensure growth and market leadership in the sector?
2. How can Alpha foray into consulting industry and become amongst the top 10 consulting companies in the next 5-10 years?
The pandemic has forced several sectors to adopt new ways of working. Even the primarily client-driven consulting sector has had to adapt to new methods of service, structure, technology and operation.The upcoming years will be all about going digital. Artificial Intelligence would be used to process, handle and analyse huge amounts of data efficiently and faster.
The task for Consulting firms therefore, would be to add value to their clients by using analytical tools and offer quantifiable results, combining the domain knowledge of SMEs with technology to provide products and solutions.
The team at Alpha wants to leverage its long drawn domain expertise and serve its client to become the most sought after consulting firms in the world.
Cloud allows banks to serve customers in new ways and re-imagine their business models. It can help surface valuable insights from their data and transform how they make decisions. It enables them to tap expertise from across their entire ecosystem. Read the whitepaper to find out more.
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
We will dig deeper into:
1. How to capture video testimonials that convert from your audience 🎥
2. How to leverage your testimonials to boost your sales 💲
3. How you can capture more CRM data to understand your audience better through video testimonials. 📊
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
The Tata Group, a titan of Indian industry, is making waves with its advanced talks with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group. The goal? Establishing a cutting-edge semiconductor fabrication unit (fab) in Dholera, Gujarat. This isn’t just any project; it’s a potential game changer for India’s chipmaking aspirations and a boon for investors seeking promising residential projects in dholera sir.
Visit : https://www.avirahi.com/blog/tata-group-dials-taiwan-for-its-chipmaking-ambition-in-gujarats-dholera/
What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
Kseniya Leshchenko: Shared development support service model as the way to ma...Lviv Startup Club
Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
Kyiv PMDay 2024 Summer
Website – www.pmday.org
Youtube – https://www.youtube.com/startuplviv
FB – https://www.facebook.com/pmdayconference
2. 2
Mike Sadler, an Offering Manager for IBM, has worked in
the Enterprise Performance Management industry for
nearly 2 decades, helping customers worldwide understand
how
IBM Planning Analytics can reduce costs, improve
accuracy and drive performance by implementing proven
practices that deliver speed, agility and foresight.
With a lens on today's digital-savvy buyers, Mike is working
to deliver the frictionless discover-try-buy-adopt experience
that customers have come to expect.
www.linkedin.com/in/michael-k-sadler/
twitter.com/analytics_mike
Mike Sadler
4. 4
The future of Finance and Accounting…
… is linked to the increasing pace of change brought about by technology. Much of what
has been done manually for 100’s of years has been eroded in the last century.
Alongside this was the growth of accounting
software and enterprise reporting systems
Now we see some significant enablers which
will further disrupt the mechanics of the
accounting profession.
5. 5
New challenges are driving change
Performance
pressures and
acquisitions
Geopolitical
factor
Digital
disruption
Amazon is a very real example of the impact of digital
disruption on consumers and our clients in this sector,
increasing awareness at senior levels that “digital”
can be a sword that cuts both ways.
Many clients are experiencing political and social
pressure related to types and numbers of jobs
onshore. This at a time when performance pressure is
intense for senior leaders.
The impact of 3G Capital, Pershing Square, Carl Icahn
(and others) illustrates performance pressure facing
our clients. Lower growth is leading to increased
interest in “pay as you go” options.
Carl
Icahn
6. 6
Why is this important?
Benefits
Reducing
Costs1 Better
Information2 Better
Outcomes3
Tangible benefits for your organisation
7. 7
Why is this important?
Benefits
Tangible benefits for your YOU
9. 9
The changing role of the CFO
The CFO mission to uncover the unknown
Applying analytics and cognitive computing for efficiency and insight
https://www-01.ibm.com/common/ssi/cgi-bin/ssialias?htmlfid=GBE03781USEN&
Tempestuous times. Disruption of the status
quo. Huge turbulence. Industry convergence.
New competitors.
These trends highlighted in IBM’s latest C-suite
Study continue to challenge enterprises worldwide.
Over 80% of Finance teams expect to use analytics
to drive performance, manage risk/compliance and
optimize processes within two years
About half of Finance organizations plan to
implement cognitive computing within the next two
years and nearly two-thirds within five years
10. 10
Many CFOs feel their organizations are not sufficiently ready for the
disruptive market trends of the cognitive era
Largest gaps between importance and effectiveness
Drive integration of information across enterprise
Develop talent in the finance organization
Identify and track new revenue growth
opportunities
Provide input into enterprise strategy
Optimize planning, budgeting and forecasting
75%47%
86%60%
63%38%
86%67%
81%62%
Effectiveness Importance
19%
gap
19%
gap
25%
gap
26%
gap
28%
gap
Source: IBM Redefining CFO Performance
11. 11
Will pressurize companies to add more finance jobs
in market. Finance roles will continue to evolve
rapidly and skills shortages will increase
There are 5 key challenges Finance teams face:
Geo political reality and risk
mitigation1
For finance functions i.e. collections and credit
management.These functions will find it increasingly
difficult to attract/retain human talent
Transactions processing
standardization increases2
Trusted partnerships become a defining part of a
company’s ecosystem. All involved need to solve this
to make the ecosystem more efficient
Trust and Visibility3
Driving deeper insights from across all data sources,
(structured or unstructured) gives a competitive
advantage for companies
Deeper insights for Finance
Organizations will demand more, and the Finance
function needs to adjust, for the leap forward that
technology enables
Business outcomes5
4
13. 13
1. Blockchain will drive the complete re-invention of all finance processes and
and eliminate manual intervention in corporate owned ERPs and silo systems
Prediction for 2025: Finance megatrends
Finance Digital Reinvention – the new enablers
14. 14
Business terms
embedded in transaction
database & executed with
transactions
Smart
contract
All parties agree to
network verified
transaction
Shared
ledger
Ensuring appropriate
visibility; transactions are
secure, authenticated &
verifiable
Permissions
Consensus
Append-only distributed
system of record shared
across business network
Blockchain for business reduces process friction
“What the internet did for communications…blockchain will do for trusted transactions.” – Ginny Rometty, IBM CEO
Saves
Time
Transaction
time from
days to near
instantaneous
Removes
Cost
Overheads
and cost
intermediaries
Reduces
Risk
Tampering,
fraud & cyber
crime
Blockchain for Accounts Payable
Leverages Hyperledger technology
to link ecosystem of buyers and
sellers and create Smart Contracts
to process transactions with one
version of the truth
15. 15
1. Blockchain will drive the complete re-invention of all finance processes and
and eliminate manual intervention in corporate owned ERPs and silo systems
2. Robotic automation will be the norm, replacing most repetitive work in finance,
finance, which can be largely automated with cognitive technologies, like
Watson.
Prediction for 2025: Finance megatrends
Finance Digital Reinvention – the new enablers
16. 16
Robotic Cognitive
Among the most effective Finance organizations, over 80 percent said it
will play an important role
Transformation through cognitive technologies
Programmed
Rule-based, logic-driven
and dependent on
organized information
Probabilistic
They learn systematically,
not dependent on rules,
and handle disparate and
varied data.
Watson Order to Cash Apps
Provides guided assistance, using
natural language processing and
next best action
recommendations, to offer
superior customer engagement,
enhance expertise and drive
improved working capital
Understand
Reason
Learn
Interact
Map
Model
Automate
17. 17
1. Blockchain will drive the complete re-invention of all finance processes and
and eliminate manual intervention in corporate owned ERPs and silo systems
2. Robotic automation will be the norm, replacing most repetitive work in finance,
finance, which can be largely automated with cognitive technologies, like
Watson.
3. Transactional offshore delivery centres will decline and outsourcers will move
to a Finance as a Service commercial model as automated services replace the
people based delivery model
4. Data will increasingly be a competitive differentiator – the new black gold.
5. Role of finance is enhanced as it moves to trusted advisor and analyst
Prediction for 2025: Finance megatrends
Finance Digital Reinvention – the new enablers
18. 18
Increased focus on ‘Insights to Outcomes’ with
Analytics and Cognitive services
Scenario Modeling
& Simulation
Prescriptive Modeling
Descriptive Reporting
& Contribution
Predictive Modeling
Data Foundations
Cognitive Computing
Integrating data sources
Master Data Management
Data quality
Data governance
Agree management
dashboards and key
performance indicators (KPIs)
Facilitating access to
insights
A data driven culture
Forecasting and
Optimization
Examples
-Spend Analytics
-Payment Terms
Optimization
Actionable insights
Testing hypotheses
Gaining business
stakeholder support
and adoption
-Fraud analytics
-Forecasting
Embedding analytics into
decision-making processes
Tracking ROI of data driven
programs.
-Collection Optimization
-Disputes Management
Elevating experience
for maximal business
benefits
Serving up real-time
insight at key points of
engagement
-Cognitive agent
assist
-Translation assist
Single source of ‘the
truth’
Managed contribution
Structured KPIs
Compliance analytics
Process analytics –
AR, AP, Customer
metrics
-AR ageing reports
-LOB key metrics
Optimizing Costs
Accelerating Sales
Transforming the
Business Model
Innovation for
Differentiation
Managing Risk
Enhancing Customer
Experience
Time 1 to 5+ years depending on organizational maturity and culture
21. 21
We love Spreadsheets
o We live our lives in Excel
o Everyone knows how to use a spreadsheet
o They make perfect sense… (to the creator)
o Spreadsheets are a blank canvas of safety and
creativity
o Custom formatting, Charts, Formulas, Pivot Tables,
Reports, the list is endless!
Powerful, Flexible, Simple, Quick, “Free”, and Email-able
25. 25
West Coast Mainline Franchise Bid (2012)
o Department of Transport deployed a new
financial model to assess bids
o The Laidlaw Report found mistakes had been
made in the model, which led to inconsistent
bids and incorrect comparisons / decisions
o Award to First Group removed
o Virgin Trains maintained the franchise whilst
the tender process was re-run
o Cost of mistake… £50M+
Sources:
http://blogs.mazars.com/the-model-auditor/files/2014/01/12-Modelling-Horror-Stories-and-Spreadsheet-Disasters-Mazars-UK.pdf
https://www.bbc.co.uk/news/uk-politics-21577826
26. 26
What are the danger signs for a spreadsheet
o Data, logic, and presentation are one in spreadsheets
• Unnecessary logic and data replication for the sake of presentation
• Data and formula do not live harmoniously side-by-side without protection
o Multi-dimensional problems expressed in a two dimensional space
becomes challenging
• Especially when people want their own way of viewing and manipulating the
o Cell references are not identifiable items…
• =C5*C6
o Importing data can be hard
o Sharing spreadsheets causes headaches
27. 27
Tools for multi-dimensional problems
o OLAP – Online Analytical Processing
• Dimensions, Cubes, Measures, Hierarchies
o Separates the data, logic, and presentation
o Analysis
• Slice, dice, and pivot
o Planning
• A Pivot Table with write-back!
o Building business rules
• Reference identifiable items and names in logic
IBM Planning Analytics (other options are available!)
33. 33
Spreadsheets vs OLAP
Spreadsheet OLAP model
Data, logic, and
presentation
All in one, redundant, error
prone
Separate layers, flexible,
resilient to change
Viewing and manipulating
multi-dimensional data
Multiple sheets and blocks of
data (possibly multiple files!)
Dimensions and Cubes
Formulae =C5*C6 =‘Revenue’ * ‘Discount %’
Data import Difficult to go from columnar
to crosstab
Flexible, automatable, single
version of the truth
Sharing Evolved from an individual
productivity tool
Built with multi-user and
multi-role in mind
34. 34
What are the benefits
o Power users
o End users
o Infrastructure
o Relevant
o Accurate
o Fast
o Transparent
o Alignment
o Better Decisions
o Commitment
These benefits drive you towards best practices.
Reducing
Costs1 Better
Information2 Better
Outcomes3
36. 36
Impact on Accountants
o Increased automation / path to cognitive leads to
a lower demand for some finance activities.
o Partner with other business leaders and expand
roles outside traditional accounting to become
valued and trusted advisors.
CFO’s are increasingly moving outside of traditional ‘Finance’ roles
o Other accounting specialists remain in high
demand providing higher value / lower cost.
o Focus on data / analytics / enabling technologies /
adding value.
37. 37
Key Takeaways and Links
o Beginners guide to OLAP
• http://ibm.biz/Guide-To-OLAP
o IBM Planning AnalyticsTrial
• http://ibm.biz/CIMA-Future-Of-Finance
o The changing role of the CFO
• https://www-01.ibm.com/common/ssi/cgi-
bin/ssialias?htmlfid=GBE03781USEN&
o The Cognitive CFO
• https://www-01.ibm.com/common/ssi/cgi-
bin/ssialias?htmlfid=GBE03837USEN
o Blockchain
• https://www.ibm.com/blockchain
o Future of Finance – CIMA
• https://www.cimaglobal.com/future
o CIMAWhitepaper – Reinventing Finance
• https://www.cimaglobal.com/Documents/Future%20of%20Finance/f
uture-re-inventing-finance-for-a-digital-world.pdf
o Other CIMA reports:
• https://www.cgma.org/resources/reports/changing-competencies-
and-mindsets.html
• https://www.cgma.org/resources/reports/changing-shape-of-the-
finance-function.html
• https://www.cgma.org/resources/reports/changing-technology-and-
finance.html
• https://www.cgma.org/resources/reports/changing-role-and-
mandate-of-finance.html
41. 41
Notices and Disclaimers Con’t.
Information concerning non-IBM products was obtained from the suppliers of those products, their published announcements or other publicly available sources. IBM has not
tested those products in connection with this publication and cannot confirm the accuracy of performance, compatibility or any other claims related to non-IBM products.
Questions on the capabilities of non-IBM products should be addressed to the suppliers of those products. IBM does not warrant the quality of any third-party products, or the
ability of any such third-party products to interoperate with IBM’s products. IBM EXPRESSLY DISCLAIMS ALL WARRANTIES, EXPRESSED OR IMPLIED, INCLUDING BUT
NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE.
The provision of the information contained herein is not intended to, and does not, grant any right or license under any IBM patents, copyrights, trademarks or other intellectual
property right.
IBM, the IBM logo, ibm.com, Aspera®, Bluemix, Blueworks Live, CICS, Clearcase, Cognos®, DOORS®, Emptoris®, Enterprise Document Management System™, FASP®,
FileNet®, Global Business Services ®, Global Technology Services ®, IBM ExperienceOne™, IBM SmartCloud®, IBM Social Business®, Information on Demand, ILOG,
Maximo®, MQIntegrator®, MQSeries®, Netcool®, OMEGAMON, OpenPower, PureAnalytics™, PureApplication®, pureCluster™, PureCoverage®, PureData®,
PureExperience®, PureFlex®, pureQuery®, pureScale®, PureSystems®, QRadar®, Rational®, Rhapsody®, Smarter Commerce®, SoDA, SPSS, Sterling Commerce®,
StoredIQ, Tealeaf®, Tivoli®, Trusteer®, Unica®, urban{code}®, Watson, WebSphere®, Worklight®, X-Force® and System z® Z/OS, are trademarks of International Business
Machines Corporation, registered in many jurisdictions worldwide. Other product and service names might be trademarks of IBM or other companies. A current list of IBM
trademarks is available on the Web at "Copyright and trademark information" at: www.ibm.com/legal/copytrade.shtml.
42. 42
What happened?
Descriptive
Get in touch with reality, a
single source of the truth, visibility
What will happen next?
Predictive
Understand the most likely future
scenario and its business implications
What is our plan?
Planning
Planning, budgeting, and
forecasting
Understanding why something
happened is a critical step
What should we do?
Prescriptive
Collaborate for maximum business
value, informed by advanced analytics
Governance & Trusted Data
IBM Data Science and Business Analytics Platform
Why did it happen?
Diagnostic
Data Augmentation and
Contextualization
Unstructured Data
Structured Data
43. 43
JP Morgan Chase (2013)
- Value at risk for Basel II valuation
misstated
- Reliance on one over-worked
spreadsheet modeler
- Complex model only understood by
one person
- Cost of mistake… circa. £250M
Sources:
http://files.shareholder.com/downloads/ONE/2261602328x0x628656/4cb574a0-0bf5-4728-9582-625e4519b5ab/Task_Force_Report.pdf
http://blogs.mazars.com/the-model-auditor/files/2014/01/12-Modelling-Horror-Stories-and-Spreadsheet-Disasters-Mazars-UK.pdf
44. 44
Fidelity Magellan Fund (1995)
- A missing minus sign led to an over
statement of capital gains
- President of the fund had to write to
shareholders explaining the
expected distribution was incorrect
following spreadsheet errors
- Cost of mistake…. £1.6B
Sources:
https://www.washingtonpost.com/news/wonk/wp/2013/04/16/is-the-best-evidence-for-austerity-based-on-an-excel-spreadsheet-error/?noredirect=on&utm_term=.4bce1378684d
http://blogs.mazars.com/the-model-auditor/files/2014/01/12-Modelling-Horror-Stories-and-Spreadsheet-Disasters-Mazars-UK.pdf
45. 45
Harvard University (2013)
- A spreadsheet error was discovered in an
influential research paper of international
government debt to GDP ratios
- Research paper quoted as a base for UK
and EU austerity measures
- Embarrassing for the academics involved
- Cost of mistake… unknown, but UK
government cuts are worth tens of
Billions of pounds
Sources:
http://catless.ncl.ac.uk/Risks/16.72.html#subj1
http://blogs.mazars.com/the-model-auditor/files/2014/01/12-Modelling-Horror-Stories-and-Spreadsheet-Disasters-Mazars-UK.pdf
46. 46
Reason
They can reason, grasp
underlying concepts, form
hypotheses, and infer and
extract ideas.
Understand
Cognitive systems
understand imagery,
language and other
unstructured data like
humans do.
Learn
With each data point,
interaction and outcome,
they develop and sharpen
expertise, so they never stop
learning.
Interact
With abilities to see,
talk and hear, cognitive
systems interact with
humans in a natural way.
What is Cognitive computing?
Cognitive systems understand, reason, learn and interact
47. 47
Why is cognitive computing important now?
Data
The volume, variety and
veracity of data – 80% of it
unstructured – is growing at a
rate impossible to keep
up with.
Choice
Companies have a wider range of
choices than ever before and are
expecting innovative, relevant
and personalized engagement.
Capabilities
Gaps in organizational capability
are emerging as cognitive
computing fundamentally
changes the way companies
leverage technology to conduct
business.
48. 48
What is possible with cognitive computing?
Deeper human engagement Elevated expertise Cognitive products and services
Cognitive processes and
operations
Intelligent exploration and
discovery
Cognitive infrastructure
Editor's Notes
Intro to me…
IBM OM – Evolution from Product Management, delivering solutions that may constitute a number of products, and managing the entire process including design, development, go-to-market strategy etc.
Planning Analytics – Enterprise Performance Management tool, geared more towards finance… Planning, budgeting, and forecasting.
Enterprise Performance Management – FOPM and BI technologies
500 cloud customers, 6000 on-premise customers, all with an FP&A problem… whether that be PB&F, Operational planning, Integrated financials (P&L, balance sheet, cashflow), HR planning, etc.
Focus on Cloud offering. SaaS
Turn back the clock 100 years… before computing we had comptometers (mechanical calculators).
Then came … electronic calculators… PCs… networking… connectivity… the internet… smartphones… cloud… and most recently big data
We have also seen the growth of finance software… ERPs… BI tools… etc.
And IBM played a part in that, as you can see from one of our adverts: During the 1930s and 1940s, IBM developed and marketed an increasingly sophisticated line of electric accounting machines. The company's Electric Accounting Machine (EAM) Division operated in 79 countries throughout the world and maintained some 80 sales offices throughout the United States. This 1932 advertisement, published in the July edition of The Bulletin of the National Retail Dry Goods Association , informs store owners and accountants of the benefits of two EAM products: an automatic summary punch and a direct subtraction accounting machine. (VV9012)
The journey is not complete… there are new enablers and disruptors that will change the finance world once again
Companies are facing new challenges
Digital disruption
You could fill this slide with logo’s that have disrupted business. Let’s look at Amazon – revolutionized how consumers shop.
Digital age we live in is disruptive. Cloud and ‘as a service’ tools are enabling this.
Look at the demise of Kodak and Blockbuster and the rise of companies like Uber and Air B&B.
Safe to say that digital is a sword that cuts both ways.
Performance pressures and acquisitions
Companies under pressure from their investors.
Making big up-front investments in technology is becoming a thing of the past. Cloud and ‘as-a-service’ technologies offer a pay as you go option instead.
There is pressure to improve performance by making smart investments to get very quick returns.
Lots of new emerging technologies not available on prem.
Geopolitical factors
Very topical at the moment with Brexit. A lot of our clients are uncertain about the upcoming impact.
There are regulatory impacts too… GDPR, IFRS16 and electronic filing (i.e. XBRL)
Companies under pressure to perform and debates around jobs onshore vs offshore are common.
What are the benefits of adopting emerging technologies? There are clear benefits for organisations to keep up with the pace of change.
Reduce Costs
Power users – Reducing time and effort spent maintaining complex processes... It’s hard and it’s cumbersome. One of the primary drivers for adopting new technologies.
Better Information
Relevant – You’ll get engagement from end users and participation in the processes by delivering tools and systems that are relevant and appropriate for the line of business. (Hotels example – one hotel vs chain of hotels?)
Accurate – Getting people involved and engaged in their area of responsibility encourages higher participation and therefore more accurate information. (Store manager participating vs regional manager visiting monthly etc).
Fast – All about agility. Being able to react quickly. The value of information goes down over time. Refreshing frequently maintains value. (Rolling forecast vs quarterly forecast).
Transparent – Moving away from a black box approach. People understand how results have been derived. Single version of the truth.
Better Outcomes – clearly the objective
Alignment (Horizontal & Vertical) – Vertical = marrying top-down and bottom-up processes. Everyone has transparency. Horizontal = understanding and collaborating across the wider business. Standardisation and integration. Decisions are being made from the same, single version of the truth, data and analysis. (Net new numbers vs numbers with renewals).
Better Decisions – Better decisions come from everyone in the organisation making better decisions… not just one person. Emerging technologies enable everyone in the organisation to do this.
Commitment – Ownership of decisions. When everyone is involved and engaged, they are much more committed when they make those decisions.
So why is this of interest to YOU?
Let’s take a moment to think about what this means for you – I would recommend taking the time to visit the Future section of the CIMA website (https://www.cimaglobal.com/future) as this does an amazing job of outlining the impact on the finance profession. In particular, take the time to read the white paper, which describes how the role of finance is moving from accounting to business partner (as we will explore in this presentation) and that there are opportunities to grow your skills in those emerging technologies, which will be very much in demand.
With the high-level challenges in mind, we see the role of the CFO changing.
IBM conducted a study called ‘The CFO mission to uncover the unknown’ back in 2016, which focused on applying analytics and cognitive computing to improve efficiency and insight. Very good read – link included.
The report highlights that we are living in tempestuous times. Disruption of the status quo is the new status quo. Lots of turbulence with new competitors across the board.
We found that over 80% of finance teams expect to use analytics to drive performance, manage risk/compliance, and optimise processes within two years…. Well this report was from 2016, and we’re now in 2018, so this should have happened by now! Are you part of the 80%? Did you make it?
Similarly, in the same timeframe, about half of the organisations in the study planned to implement cognitive computing, with two-thirds having a longer vision of 5 years.
The Chief Finance Officer is turning into the Chief Analytics Officer. It is no longer enough to understand what has happened (hindsight) and apply that to what might happen (foresight)… market disruption demonstrates the need to identify unknown opportunities and risks.
As a result, the CFO now has to understand Advanced Analytics, Digital, Robotics and Intelligent Automation, Cognitive, the list goes on… All these things aim to increase the efficiency of traditional activities, reducing their cost, and decreasing the amount of manual (and human) activity involved. It’s a move towards ‘Lights Out’ accounting.
So we asked CFOs if their organisations were ready for this
Many said their organisations are not sufficiently ready for the upcoming changes and cognitive era.
We asked them to score the importance of various priorities, and to give an indication of the effectiveness their organisation has at those.
On this topic, 2 charts stand out for me, as they are most highly ranked in terms of importance: Provide input into enterprise strategy and Develop talent in the finance organisation.
Both of these topics talk to topic we are exploring here – having the skills to be an effective business partner, and you can see that there is still a gap in those areas.
One area of particular interest for me is the importance of optimizing planning, budgeting, and forecasting processes, which thankfully over 80% agreed was important.
So, we see 5 key challenges finance teams will face.
The first is Geo political reality and risk mitigation… with the rapid evolution of finance roles and increasing demand for highly skilled individuals, we believe that skills shortages will increase.
The second is Transaction processing standardization… whether it be in collections or credit management, the appetite for standardization is growing. Like above, with the growth of emerging technologies facilitating standardization and automation, attracting and retaining talent in this area will become more difficult. Value add vs repetition.
Next is Trust and Visibility… your company’s ecosystem will be defined by the trusted partnerships you create. Everyone needs to solve this problem of trust and transparency to be more efficient. We’ll be talking a little bit more about a new technology called Blockchain which aims to standardize the end-to-end transaction management process with security, traceability, and accountability baked in.
Deeper insights for Finance… we have so much data at our disposal now… using that data successfully is the key. Whether it be structured or unstructured, there is a piece of technology out there for you today to tap into your data, understand it, reason about it, and get deeper insights into your business.
And finally Business outcomes… there are new pressures on organizations to perform. The demand and expectation is increasing, and the finance function needs to adjust to that.
The forward leaps organizations are able to make with new emerging technologies will make them more competitive in the market.
Blockchain. The new Blockchain technology will reinvent finance processes and drive automation with a shared ledger that is secure, transparent, and saves cost.
What is Blockchain?
Blockchain is a shared, distributed, ledger technology allowing participants in the business network to see the system of record.
Every transaction or asset transfer is digitally signed and encrypted, forming a block.
Each block is put one after another, forming a unique data structure, or an immutable, irreversible chain.
The key here is that this is a smart, secure, transparent, and traceable transaction technology that relies on consensus between all parties for every transaction.
Blockchain technology reduces transaction cycle time, removes overheads and reduces cost of managing transactions, and significantly reduces risk of tampering, fraud, and abuse.
Hopefully you can see how this technology would help your organization – there is a big focus on blockchain for finance. A good example is Blockchain for Accounts Payable – IBM create solutions to dramatically cut invoice processing costs and reduce intermediary dependency to resolve invoice exceptions.
Robotic Automation will be the norm. Repetitive work that can be automated as part of the analytics journey and path to Cognitive will be. This links back to the second challenge in the top 5 challenges we saw earlier – there will be a shift in focus from low value work to value-added work – looking for insights, advising the business.
Finance executives agree that cognitive computing has the potential to radically change their organisations.
… with over 80% of the most effective finance organisations said that Cognitive has an important role to play in the industry.
Robotic Process Automation is a great starting point - where systems can programmed to take out the dull, dreary work that is repetitive and manual – a great example is a global education company that worked with IBM and Blue Prism to automate 520 inter-company reconciliations, reducing the effort by 30%, speeding the process by 5 times – freeing up the team to work on more value adding activities. https://www.ibm.com/case-studies/education-finance
Analytics systems give us insights from data, but with cognitive systems, we can turn those insights into knowledge.
So… Cognitive systems can understand unstructured information such as the imagery, natural language and sounds in books, emails, tweets, journals, blogs, images, sound and videos.
They unlock meaning because they can reason through it, giving us new contexts to weigh and consider.
Cognitive systems also learn continually, honing our own expertise so we can immediately take more informed actions.
And they interact with us and with our customers, dissolving barriers between humans and machine, fueling unique, essential user experiences.
And these final 3 are really linked, as we think about the evolving “as-a-service” opportunities that push finance to delivering more value as partners to the business.
Data will be a competitive differentiator:
We saw in the advanced analytics journey that data is at the foundation to insights and business outcomes.
Having your own data at your disposal is great, but what about other sources of data…
- Competitive information, macro-economic data, news/events
- Demand data, supply chain information, customer profiling / segmentation, social media, weather
Having data is not a competitive differentiator, knowing how to quickly get to insights and act on those insights from the data you have is a competitive differentiator.
All of these trends lead to the fact that the role of Finance is being enhanced
It’s no longer about just closing the books.
Finance roles are changing and there is a requirement to become skilled in new areas… finance teams will become the champions of performance.
Finance will be required to give guidance to the rest of the business.
This has already happened in a lot of organisations who are the leaders in their fields, and have already started their analytics maturity journey.
IBM Confidential
That was a lot to take in!
I’m going to try and relate this to spreadsheets… I’m sure we all use spreadsheets in our daily lives – especially those in finance.
Why am I focusing on spreadsheets? Well because we love spreadsheets….
Spreadsheets are powerful – learn how to use a pivot table and some of the basic formulas and you’re away. I’m sure most of us could write a VLOOKUP in our sleep. What about INDEX and MATCH as an alternative?
They’re flexible – flexible in the way we can include data in different formats (crosstab, columnar, etc.). Flexible in how we define the presentation. Flexible in the logic we apply.
They’re simple – you don’t need a PhD to create a spreadsheet.
They’re quick – How long would it take to knock up a simple balance sheet in Excel…? 10 minutes? Maybe 15?
They’re free – they’re not really free, but how many people don’t have access to Excel on their machines?
They’re email-able – I don’t know if that’s a word, but they’re easy to share, pass around, update.
Spreadsheets are a blank canvas of safety and creativity – they’re a go-to place that we all feel comfortable in and live our lives in.
And they make sense…. Or at least they do to the creator!
Spreadsheet demo
Walk through spreadsheet – assumptions and GP tab. What is this spreadsheet doing. Hopefully relatable.
Define the data – Unit cost, unit price, volume
Define the logic – revenue, cost of good, gross profit, GP%. Aggregation across month.
Walk through formula summary on Massachussets tab (top right)… 64 formulas on this tab for aggregation alone. A further 160 formulas to calculate all of our logic… 49 per product and 13 for the total.
Show tabs for each region. Aggregation into the summary tab. Additional formulas here purely to add up the numbers across the individual region tabs.
In total (for this pretty simple spreadsheet) we have 400 formulas for aggregation, 500 formulas for calculations and logic, and nearly 1000 overall.
Finally we have an analysis tab which combines all the data from the tabs into a table that can be filtered.
Imagine if we did this for every state in the United States… we would have in excess of 15,000 formulas.
So hopefully we’re all agreed that we love spreadsheets…. However, they can be dangerous.
There is an obvious mistake here… but it’s only obvious because I’m showing you!
If we weren’t looking at this formula, but looking at the resulting value instead, we wouldn’t know from a quick scan that the number is wrong.
Here’s an example of how a mistake in a spreadsheet can be costly…
I used the east coast mainline to get up here this week – maybe some of you used the west coast mainline, either way, back in 2012, the department of transport deployed a new spreadsheet-based financial model to assess bids for the franchise.
Numerous vendors submitted bids as part of the tender process, the First Group were awarded the franchise, but things went south from there (no pun intended).
A subsequent report into the process found mistakes in the financial model, which led to inconsistent bids from applicants, and ultimately incorrect comparisons of their bids and incorrect decisions.
The award to First Group was removed as a result, and Virgin maintained their control of the franchise whilst the tender process was re-run.
The cost of this mistake was apparently over £50M… spreadsheets can be dangerous!
So let’s recap what we’ve just explored.
Spreadsheets are an amazing tool for personal or group work, but once we starting performing some serious analysis, or need to collaborate with others it has gaps.
OLAP – people might be familiar with dimensions and measures from PivotTables.
A Dimension is a list or category or related items that define a certain aspect of the business… for example, products, regions, time, departments, cost centres, etc.
Dimensions make cubes
A cube is a multi-dimensional data set (not just 3D). You can use cubes to hold data, collect data from users, and calculate data as needed. Generally a cube stores data for one aspect of the business… e.g. employees or revenue.
You can think of a cube as a multi-dimensional spreadsheet. Link back to the example
Measures are measurable properties such as sales, costs, or duration. Measures give you information about the quantities that you're interested in finding out.
If a dimension is a category of related items, hierarchies are subcategories.
Hierarchies have levels and allow you to "drill down" or "drill up" on your data.
Drilling allows you to analyze your data at different levels of granularity.
For example, a time dimension might have a hierarchy of years, quarters, months, and weeks.
Demo of Planning Analytics.
Working in a Book. Book has several tabs.
Explain this is a replication of the spreadsheet – not tried to do any fancy dashboarding with charts, custom widgets, embedding objects, etc. (although all possible)
Show Assumptions – show data change across all time periods with shortcut
Show regional forecast – one tab for all regions with a dimension selector
Show data change for volume in different regions
Show spreading across all regions
The data is the same. The presentation and logic have been abstracted.
Show logic tab
Describe dimensions
Show the cube
Describe the business rules
Demo adding another region. Populate volume. Explain that logic (rules and aggregation) and presentation are automatically updated.
Show Analysis tab
This is just another view of the same cube – no additional logic to create this view
Flick between measures
Show Freeform tab
Slice and dice. Nesting. Writeback.
Show face of grid calculation
Replication of the spreadsheet example – notice that it is one sheet, with a selector, rather that repeating the tab multiple times.
Here you can see how the logic is separate from the data and the presentation.
We can see the dimensions of our business, which we define once, and have available throughout the book. For example, if we add another product, or region, they automatically become available everywhere.
There is no need to create specific calculations for aggregation – this happens automatically, whichever way we choose to view the data. For example, we could add Quarters to the time dimension, having the months automatically roll-up, and the quarters, in turn, automatically roll-up into the full year – all with out defining any calculations.
The calculations for the measures are defined once using business terms rather than abstract cell references. This makes the model easier to understand and maintain. AND they are separate from the data meaning that calculations cannot be over-written by users.
Here’s an alternative view that we built, allowing us to focus on the measures – this is a view on the data, meaning that we don’t have to replicate the entire data-logic-presentation sheet. We simply put a new view on the canvas and Planning Analytics looks after getting the data, and running the calculations.
In fact, you can see that we have also linked 2 charts, as well. As the measure selection changes, the charts will update automatically.
And in this case, we show just how easy it is to take that flexibility one step further – with the ability to slice and dice, drill down, filter, enter data – all on the same model, but without all of the work.
Let’s recap what we have just seen and that contrasts with the spreadsheet approach.
So what’s in it for you? Well all of the benefits that we talked about earlier about adopting emerging technologies in your organisation apply to this example.
You’re reducing costs by … centralizing the planning process, removing the burden on power users to maintain complex spreadsheets, and allowing end users to self-serve their analysis.
Power users – Reducing time and effort spent maintaining complex processes... It’s hard and it’s cumbersome. One of the primary drivers for adopting new technologies.
End users – If you make it easier for end users to participate in the business processes, they don’t need to do their own thing. Enabling self service of ad-hoc requirements reduces burden on other teams.
Infrastructure – More and more customers choosing Cloud. Generally seeing a huge rise in ‘as a Service’ technology. Cloud story – 5 years ago, 2-3 years ago, NOW. Reduces the cost of ownership.
You’re getting better information … the data and model can be relevant down to individual cost centres, departments – whatever dimensionality you define.
It will be accurate because the right people are updating the right bits.
And it’s fast… you saw how easy it was to add a new region to the model and start entering data.
You’re getting better outcomes … you can imagine an extension of this to start forecasting which could include top-down and bottom-up planning for alignment across the organisation.
These benefits drive you towards and facilitate best practices.
You can start to bake in driver based planning… ensuring that everyone is working from a common understanding (leading back to the point earlier about trust and visibility) and common data set. One person’s assumptions might not be the same as the next! (Which exchange rate were they using??)
High frequency planning – these pieces of technology streamline processes, introduce control and rigor, and facilitate a more frequent planning cycle – something that most organisations want to achieve. This ties back to getting better information that is relevant and accurate.
And finally High participation planning – having a centralised system with a single version of the truth enables you to distribute this process wider throughout your organisation and get more people involved.
Let’s summerize - what is the impact on the finance professions?
Data, analytics, automation, and cognitive technologies will become weapons in a finance team’s arsenal as the CFO drives their team to move beyond traditional roles.
As we can see from this view from the CIMA whitepaper, we discussed earlier – that’s where these charts come from - some roles… repetitive roles… will be in lower demand. But equally, specialists skills will remain in high demand as finance moves to providing higher value input across the organisation.
So… embrace the disruption… don’t fear it. There is still a future for us all!
Think about how you can partner with other business leaders and expand the role of finance in your organisations.
This is key… become valued and trusted advisors. Where to you start and how do you do that? Focus on data, analytics, enabling technologies, and adding value.
So – a final thought - Emerging technologies will NOT replace accountants. But accountants who use Emerging technologies WILL replace those who don’t.
All of you have seen this diagram which represents the DS&BA Vision. But, this is also our pattern in another form, and THIS is our differentiator as well. This “ring diagram” as it’s called is the basis for our storytelling, the scenarios we are going to craft for our prospects, and being able to relate this story to our prospects, their business, and the value that IBM brings is the key to our success. We will revisit this later in this session.
--------------
IBM is unique in its ability to deliver on this lifecycle of turning data into insight and insight into action. IBM Planning Analytics provides a market leading tool for building your business plans, this integrates with Cognos Analytics that lets you track actuals and compare to your plans. Watson Analytics provides the smart data discovery component that can help you understand why you may be tracking on or off plan. SPSS or Data Science Experience provide leading predictive analytics capabilities including forecasting and prescriptive analytics such as optimization. These capabilities complement and are integrated with business planning to enable constraint based planning and forecasting.
This system is based upon trusted data and a governance process to ensure that the insights for crucial decisions can be relied on.
So what is Cognitive technology?
Analytics systems give us insights from data, but with cognitive systems, we can turn those insights into knowledge.
Traditional computing is programmed… it is rule-based, logic-driven, and dependent on organized information.
Cognitive systems are probabilistic… they learn systematically, they are not dependent on rules, and they handle disparate and varied data.
So… Cognitive systems can understand unstructured information such as the imagery, natural language and sounds in books, emails, tweets, journals, blogs, images, sound and videos.
They unlock meaning because they can reason through it, giving us new contexts to weigh and consider.
Cognitive systems also learn continually, honing our own expertise so we can immediately take more informed actions.
And they interact with us and with our customers, dissolving barriers between humans and machine, fueling unique, essential user experiences.