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IBM Cognos - Få kontroll med ett CFO Dashboard
The document discusses the evolving role of the CFO, emphasizing the need for effective dashboards to manage financial performance amidst increasing uncertainty and complexity in business. It highlights various challenges faced by finance departments, such as reliance on manual processes and the lack of common data standards, while also proposing solutions to enhance financial efficiency and business insights. Additionally, it underscores the importance of integrating key performance indicators and risk management into a unified CFO dashboard for better decision-making.
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IBM Cognos - Få kontroll med ett CFO Dashboard
- 1. Ökad kontroll genomett CFO Dashboard Jenny Hellström, IBM Business Analytics,IBM 16 September 2010 1
- 2. Uncertainty – TheNew Normal Velocity and Volatility “Over 60% of Finance executives believe that when the recovery takes hold, the heightened uncertainty in the business will remain” CFO Magazine/Duke University Business Outlook, September 2009 2 IBM PERFORMANCE EVENTS
- 3. The role ofthe CFO’s is changing I Norden var det 90% - Norden rules! Elevated Role of Finance Role of Finance in Driving Decisions Across the Enterprise Enterprise cost reduction management 45% 44% Selection of key performance indicators 47% 41% Capital asset management 34% 50% Risk management 41% 42% Prioritization of resource allocation 53% 26% Strategic revenue planning 54% 24% Business model innovation/ reshaping 59% 19% Advisor (e.g., analysis and insight) Information management strategy 39% 33% Decision Maker (e.g., create a plan) Over 70% of CFOs believe they have an advisory or decision making role on the Enterprise agenda. Source: 2010 IBM Global CFO study 3 IBM PERFORMANCE EVENTS
- 4. …Improve effectiveness onthe enterprise agenda Importance Effectiveness CFO Agenda: Importance vs. Effectiveness RANK GAP Developing your people in the 35% Finance organization Executing continuous Finance 28% Core process improvements Finance Strengthening compliance programs 16% and internal controls Driving Finance function cost reduction 9% Driving integration of information across the enterprise 34% 1 Providing inputs into 1 enterprise strategy 28% Enterprise Supporting / managing / 26% Focused mitigating enterprise risk 2 Measuring / monitoring 2 business performance 23% 3 3 Driving enterprise cost reduction 21% 0% 20% 40% 60% 80% 100% Source: 2010 IBM Global CFO study 4 IBM PERFORMANCE EVENTS
- 5. Financial efficiency Challenges - due to issues related to automation and standards Nearly 40% of enterprises produce financial metrics manually Finance continues to spend nearly 50% of time on transactional activities Over 35% lack a common reporting platform Over 25% lack the necessary common data definitions and processes Source: 2010 IBM Global CFO study 5 IBM PERFORMANCE EVENTS
- 6. Business Insights Challenges - due to issues related to automation and standards Nearly 50% lack a common planning platform 55% not satisfied with their operational planning and forecasting analytical capability Over 50% manually producing operational metrics 44% are poor to average at anticipating external forces Source: 2010 IBM Global CFO study 6 IBM PERFORMANCE EVENTS
- 7. 4 Finance profiles High 1 2 32% 23% Finance Efficiency 3 4 Low 33% 12% Low High Business Insight 5 6 7 Source: 2010 IBM Global CFO study 7 IBM PERFORMANCE EVENTS
- 8. What to doto raise the Financial eff? Process Ownership Common Ledger and Accounting Alt models for transactional activitites Enterprises with Finance 50% Enterprises with Finance 77% Enterprises with Finance 98% efficiency 27% efficiency efficiency higher All other 49% 100% All other enterprises 35% 120% enterprises higher All other enterprises 45% higher Corporate Standard data Standard Chart philosophy of Standard definitions of Accounts information processes standards 8 IBM PERFORMANCE EVENTS
- 9. What to doto raise the business insights? Timely financial and operational metrics Establishing standards for non-financial data Finance Finance organizations organizations with strong 73% with strong 61% Finance business business organizations with 53% Financial insight Operational insight 42% strong business 28% Metrics insight Metrics more more 51% All other more All other 43% 57% enterprises enterprises All other enterprises 35% Operational Finance Common planning and talent planning forecasting development platform capability 9 IBM PERFORMANCE EVENTS
- 10. Provide a CFOdashboard with an enterprise focus Jenny Hellström CFO Dashboard Anticipate & Shape Eller... IBM Cognos CFO dashboard General Planning & Risk Accounting & Performance Management Financial Management Management Trusted Information 10 IBM PERFORMANCE EVENTS
- 11. General Accounting &Financial Management CFO Dashboard Account & Control • Automate production of key financial metrics • Dynamic reporting • Ad-hoc Analysis • Business self-service Accounts Receivables & Payables Asset Analysis Product & Balance Sales Sheet & Analysis General Ledger Customer Payment History Days Sales Overdue 11 IBM PERFORMANCE EVENTS
- 12. Planning & PerformanceManagement CFO Dashboard Visibility & Control • Incorporate KPIs from revenue, expense, workforce, capital and operational plans and forecasts Best +3% • Integrate what-if scenario planning Revenue Base +0% • Evaluate performance gaps Worst -7% 12 IBM PERFORMANCE EVENTS
- 13. Risk Management CFO Dashboard Assess & Respond • Define and monitor Key Risk Indicators (KRIs) • Model and incorporate risk events, effects and risk- mitigating initiatives • Reflect into strategic and operational plans 13 IBM PERFORMANCE EVENTS
- 14. Where to createthe CFO-dashboard? New unified workspace: Self service dashboard assembly Interact & analyze Share & collaborate Search assisted authoring Data exploration & ability to “do more” Benefits Faster time to better decisions Powerful analysis and in-place data exploration Better utilization of existing BI assets Business User self service Reduces IT bottlenecks 14 IBM PERFORMANCE EVENTS
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- 17. Tack för ertid! Jenny Hellström, IBM FPM Specialist Jenny.hellstrom@se.ibm.com 070-793 29 49 17 IBM PERFORMANCE EVENTS