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Timo.Elliott@sap.com @timoelliott
Timo Elliott
Global innovation Evangelist
The Top Technology Trends Helping Finance
Beco...
How Technology Can Help CFOs
In Memory
Computing
Big Data &
Analytics
Cloud Mobile, Etc
In-Memory Computing
Can you respond to
data requests in under
a day?
Need to analyze
data more quickly
Data is hard to
find and understand
Onl...
Store financial
information
just once…
In-Memory Computing
A transformative technology that slowly
but surely upturns the whole industry
Faster, Simpler Finance
70%
less reconciliation time
ICO reconciliation
30%
less processing time
Financial Close
10%
fewer...
Greater Speed Equals Better Business Partnership
89%
76%
94%
62%
54%
43%
50%
25%
Reliable or very reliable
Valuable or ver...
Analytics & Big Data
“WAR IS 90% INFORMATION”
Napoleon Bonaparte
83% of finance executives want to provide a holistic
view of financial and ope...
16© 2015 SAP SE or an SAP affiliate company. All rights reserved.
“Intricate calculations of sales by territories will
app...
Decision Cockpits
Looking To The Future, Not the Past
Predictive Finance
Predictive Finance
Analysis
Optimization
What happened ?
Why did it happen ?
What will happen (when) ?
...
Impact of Predictive Analysis
95%
87%
71%
76%
55%
30%
Effective
Valuable
Well-aligned
Do Not Use
Use
Using advanced analyt...
DATA
SCIENCE
QUIZ.
These numbers were found in
two tax declarations. One is
entirely made up. Which one?
EUR
127,-
2.863,-...
30.1%
17.6%
12.5%
9.7%
7.9%
6.7%
5.8% 5.1% 4.6%
1 2 3 4 5 6 7 8 9
Benford’s Law
Distribution of the first digit of real-wo...
DATA
SCIENCE
QUIZ.
These numbers were found in
two tax declarations. One is
entirely made up. Which one?
EUR
127,-
2.863,-...
Many Other Examples
“Why We Got Rid of Budgets”
The traditional budgeting process involved a lot of gaming
Our focus was extremely backwards l...
Make planning a continuous and inclusive
process, not a top-down annual event
Cloud
Cheaper
Faster
Implementation
Faster Innovation
Finance And Cloud Computing
Source: Saugatuck Technology
No plans for
finance on cloud
Plan to replace
all on-premise
Will...
Leaving the Medieval Era?
Cloud-Based Business Networks
SuppliersBuyers
Procurement
Travel & Expenses
Sales
Finance
Logistics
Supply Chain
Sustainab...
Enable the business to
make better decisions in
real time, anytime,
anywhere
Enable Finance
executives to manage
their ope...
Money, Reinvented
In cryptography we trust
“A way to transfer digital
property in a way that is
guaranteed to be safe and
...
Blockchains
Replicated,
shared
ledgers
“Blockchain
technology will not
only change the way
we do payments but
it will chan...
CONCLUSION
Top Three Barriers to Better Finance
27%
31%
62%
Insufficient knowledge of
business strategy and dynamics
among finance st...
Technology Can Help CFOs
In Memory
Computing
Big Data &
Analytics
Cloud Mobile, etc
Thank You!
Timo Elliott
Global innovation Evangelist
Timo.Elliott@sap.com @timoelliott
Top Technology Trends for CFOs
Top Technology Trends for CFOs
Top Technology Trends for CFOs
Top Technology Trends for CFOs
Top Technology Trends for CFOs
Top Technology Trends for CFOs
Top Technology Trends for CFOs
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Top Technology Trends for CFOs

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Presentation at the KPMG CFO Summit in Athens, Greece. How in-memory, big data and analytics, cloud, mobile, and crypto-currencies can help CFOs partner closer with business leaders

Published in: Technology
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Top Technology Trends for CFOs

  1. 1. Timo.Elliott@sap.com @timoelliott Timo Elliott Global innovation Evangelist The Top Technology Trends Helping Finance Become a Better Business Partner
  2. 2. How Technology Can Help CFOs In Memory Computing Big Data & Analytics Cloud Mobile, Etc
  3. 3. In-Memory Computing
  4. 4. Can you respond to data requests in under a day? Need to analyze data more quickly Data is hard to find and understand Only 12% 90% agree 58% agree “Finance executives recognize need for speed in data analysis – but few companies are able to deliver in real time.” cfo.com research The Need For Speed
  5. 5. Store financial information just once…
  6. 6. In-Memory Computing A transformative technology that slowly but surely upturns the whole industry
  7. 7. Faster, Simpler Finance 70% less reconciliation time ICO reconciliation 30% less processing time Financial Close 10% fewer fraud cases Risk & compliance – real time screening on anomalies 40% less posting corrections Financial Close 10% DSO reduction Receivables management 1,8 TB ERP Database Database footprint reduced from once 7.1 TB 80% less cost center re-org time Organizational change Soft close Intra-month. Information when & where needed 3% cash optimization Treasury
  8. 8. Greater Speed Equals Better Business Partnership 89% 76% 94% 62% 54% 43% 50% 25% Reliable or very reliable Valuable or very valuable Effective or very effective analysis Well-aligned or very well-aligned with strategy Do Not Use Use Source: Grant Thornton, APQC FP&A report Influencing Corporate Performance with Stellar Processes, People, and Technology Feb 2015 Impact of rolling forecasts on business evaluation of finance department
  9. 9. Analytics & Big Data
  10. 10. “WAR IS 90% INFORMATION” Napoleon Bonaparte 83% of finance executives want to provide a holistic view of financial and operational performance that can support strategy development.
  11. 11. 16© 2015 SAP SE or an SAP affiliate company. All rights reserved. “Intricate calculations of sales by territories will appear as if by magic in the digital age ahead”
  12. 12. Decision Cockpits
  13. 13. Looking To The Future, Not the Past
  14. 14. Predictive Finance Predictive Finance Analysis Optimization What happened ? Why did it happen ? What will happen (when) ? What should happen (how)? CompetitiveAdvantage Analytics Maturity Record-to-Report
  15. 15. Impact of Predictive Analysis 95% 87% 71% 76% 55% 30% Effective Valuable Well-aligned Do Not Use Use Using advanced analytics in Finance results in better alignment, effectiveness, and value Source: Grant Thornton, APQC FP&A report Influencing Corporate Performance with Stellar Processes, People, and Technology Feb 2015
  16. 16. DATA SCIENCE QUIZ. These numbers were found in two tax declarations. One is entirely made up. Which one? EUR 127,- 2.863,- 10.983,- 694,- 29.309,- 32,- 843,- 119.846,- 18.744,- 1.946,- 275,- EUR 937,- 82.654,- 18.465,- 725,- 98.832,- 7.363,- 4.538,- 38,- 8.327,- 482,- 2.945,-
  17. 17. 30.1% 17.6% 12.5% 9.7% 7.9% 6.7% 5.8% 5.1% 4.6% 1 2 3 4 5 6 7 8 9 Benford’s Law Distribution of the first digit of real-world sets of numbers that uniformly span several orders of magnitude
  18. 18. DATA SCIENCE QUIZ. These numbers were found in two tax declarations. One is entirely made up. Which one? EUR 127,- 2.863,- 10.983,- 694,- 29.309,- 32,- 843,- 119.846,- 18.744,- 1.946,- 275,- EUR 937,- 82.654,- 18.465,- 725,- 98.832,- 7.363,- 4.538,- 38,- 8.327,- 482,- 2.945,- Benford's Law, also called the First-Digit Law
  19. 19. Many Other Examples
  20. 20. “Why We Got Rid of Budgets” The traditional budgeting process involved a lot of gaming Our focus was extremely backwards looking Deviations to budgets had to be explained New forecasts were only made twice a year Being in line with budgets was what made you a success We were very detailed in our budgeting levels We were spending 4-5 months on the process
  21. 21. Make planning a continuous and inclusive process, not a top-down annual event
  22. 22. Cloud Cheaper Faster Implementation Faster Innovation
  23. 23. Finance And Cloud Computing Source: Saugatuck Technology No plans for finance on cloud Plan to replace all on-premise Will be hybrid almost 1/3 14% 60%
  24. 24. Leaving the Medieval Era?
  25. 25. Cloud-Based Business Networks SuppliersBuyers Procurement Travel & Expenses Sales Finance Logistics Supply Chain Sustainability Compliance Partners
  26. 26. Enable the business to make better decisions in real time, anytime, anywhere Enable Finance executives to manage their operations more effectively .Accelerate key process cycle times and eliminate approval bottlenecks Mobile Finance
  27. 27. Money, Reinvented In cryptography we trust “A way to transfer digital property in a way that is guaranteed to be safe and secure, everyone knows that the transfer has taken place, and nobody can challenge the legitimacy of the transfer.”
  28. 28. Blockchains Replicated, shared ledgers “Blockchain technology will not only change the way we do payments but it will change the whole trading and settlement topic” CIO, UBS
  29. 29. CONCLUSION
  30. 30. Top Three Barriers to Better Finance 27% 31% 62% Insufficient knowledge of business strategy and dynamics among finance staff Insufficient access to operational metrics that drive and impact financial measures Staff buried in basic duties; no time to improve FP&A Source: Grant Thornton, APQC FP&A report Influencing Corporate Performance with Stellar Processes, People, and Technology Feb 2015
  31. 31. Technology Can Help CFOs In Memory Computing Big Data & Analytics Cloud Mobile, etc
  32. 32. Thank You! Timo Elliott Global innovation Evangelist Timo.Elliott@sap.com @timoelliott

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