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The Changing Role of Finance: Deepening Analytics

To succeed in today’s volatile economy, financial leadership has become more significant than ever. Learn how leading CFOs accelerate strategic growth as well as ensure its alignment with the company’s business objectives.

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The Changing Role of Finance: Deepening Analytics

  1. 1. The Changing Role of Finance: Deepening Analytics
  2. 2. At a time where managing financial volatility is the keystone of many companies' strategies, the CFO's role is becoming more strategic and influential. The finance function needs to provide critical insights to enable more efficient and effective business operations.
  3. 3. In today’s fast evolving digital era, technologies are transforming how industries create value Over $1 trillion in Mobile eCommerce revenue by 2017 Mobile and Social $290 billion in Machine-to- Machine revenue by 2017 Internet of Things More than $17 billion in Big Data revenue by 2015 Big Data $200 billion in Cloud Services revenue by 2015 Cloud Source: Real-Time Survey Results from 2013 CFO Summit at Oracle OpenWorld
  4. 4. As digitization advances, CFOs need to go beyond numbers to analyze business transformation. They need to not only accelerate strategic growth across the enterprise, but also ensure its alignment with the company’s business objectives.
  5. 5. Key business challenges Lack of single version of truth Gap between objectives and outcomes Prolonged closure time Increased need for global market expertise as against specific local market knowledge Need to invest in digitally- enabled business models Limited control and flexibility High investments in low value areas High manual effort
  6. 6. Companies are adopting several approaches to sharpen their analytical capabilities to support business decisions Transforming finance processes to meet regulatory or compliance requirements Leveraging business driver based financial planning and budgeting Fast tracking planning and budgeting with cloud offerings 1 2 3
  7. 7. 1. Transforming finance processes to meet the regulatory or compliance requirements Factors influencing global trends continue to affect regulatory compliance, and impose challenges that require increasingly sophisticated leadership to identify and manage emerging risks Technology influencing strategic business decisions Growing volatility of global economies Gap between information availability and needs Rise of several risks – need for effective controls
  8. 8. By transforming finance processes to meet the regulatory or compliance requirements, companies can - • Improve the ease of transactions • Leverage technologies and tools to address business complexities • Invest to comply with regulatory requirements • Digitally re-imagine the customer experience TCS’ Finance Transformation initiatives help CFOs effectively manage their Total Cost of Operations, and enhance standardization and transparency
  9. 9. Companies need to focus on business plans by accounting for criteria that are most capable of driving success. To ensure this, they must leverage both financial and non-financial drivers to overcome challenges - No formal planning processes Inadequate planning tools Highly manual processes Adhoc spreadsheets 2. Driver based financial planning and budgeting
  10. 10. By leveraging driver based financial planning and budgeting, companies can: • Harness a comprehensive automated system for planning, budgeting and forecasting • Integrate long-range, annual and quarterly planning, budgeting, forecasting and management reporting • Ensure balanced inclusion of both external and internal data points and drivers • Validate target setting against bottom-up business insight • Realize industry aligned and shortened planning cycles • Enable scenario planning and simulations Built on Hyperion Planning and OBIEE, TCS’ Rapid Financial Planning for Telecom companies provides various driver-based models for planning, budgeting and forecasting
  11. 11. The planning and forecasting environment has changed considerably for most organizations in today’s global economy. To keep pace with changing business conditions, companies recognize the need to- Reduce usage of spreadsheets Shift towards Cloud 3. Fast track planning and budgeting with Cloud
  12. 12. Integrating fast-track planning and budgeting with Cloud can enable companies to: • Rapidly deploy planning and budgeting solutions • Eliminate infrastructure CAPEX • Minimize the IT resources required to support business • Simplify technology choices with flexible deployment options • Mix and move between deployment models as business needs change Built on Oracle Cloud, TCS’ JumpStart offering accelerates the move from spreadsheets to an enterprise wide planning system TCS JumpStart
  13. 13. Plan at the speed of business Embrace moving to the Cloud Focus on targets and gaps with confidence in projections Integrate predictive analytics into forecasting Recommendations
  14. 14. IT Services Business Solutions Consulting Contact a Consultant Write to us: Oracle.practice@tcs.com The Changing Role of Finance: Deepening Analytics

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  • kuldeepverma7737

    Aug. 25, 2015
  • PranathBiraj

    Feb. 28, 2018
  • AsiyaIsmael

    Jul. 7, 2018

To succeed in today’s volatile economy, financial leadership has become more significant than ever. Learn how leading CFOs accelerate strategic growth as well as ensure its alignment with the company’s business objectives.

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