MAIA aims To Make BI available to the SmBs

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Sanjay Mehta - CEO, MAIA Intelligence talkes about the company's channel strategy and how it is planning to tap the booming Business Intelligence market.

Business Technology

PUBLICATION : INDIAN CHANNEL WORLD
EDITION : ALL INDIA
DATE : 23 JUNE 2008
PAGE NO. : 34

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For the last 20 years, organisations have invested into transformation of the entire financial consolidation process from ERP accounting systems to financial consolidation software in order to improve the way of tackling the challenge of Financial Close & Balance Sheet Consolidation with modern software solutions. Despite these investments, more than 90 per cent of organisations still rely on spreadsheets to gather information from disparate financial systems and perform variance analysis on financial statements, compiling information from multiple sources. The requirement for transparency in financial statements is non-negotiable, and this starts with the financial close and reporting process. Financial consolidation software solutions have certainly improved the process, driving organisations towards a more consistent chart of accounts, and supporting the period end processes, such as allocations and inter-company eliminations. However, when looking at the actual activities that finance employees perform each month, it is clear that there are still significant gaps. This article provides a realistic view of the use of technology to improve the financial close and reporting process and achieve increased quality, accountability, auditability, efficiency and ultimately, regulatory compliance. Sanjay Mehta, CEO, MAIA Intelligence Pvt. Ltd. authored this article for The Chartered Accountant (CA) Journal, March 2011.

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