The annual Ventana Research Digital Innovation Awards showcase advances in the productivity and potential of business applications, as well as technology that contributes significantly to the improved processes and performance of an organization. Our goal is to recognize technology and vendors that have introduced noteworthy digital innovations to advance business and IT.
Topics: Office of Finance, digital business
The use of technology to manage source-to-pay as an end-to-end process beginning with vendor selection has grown significantly over the past five years. (Procure-to-pay is a related process that begins after vendor selection and P2P is a commonly used abbreviation covering both.) Organizations are looking to increase efficiency while promoting greater effectiveness by strategically taking early payment discounts, having more immediate and deeper insight into spend to achieve greater control and optimizing supplier relationships. Traditional, paper-based and manual P2P processes are too disjointed, inefficient and time-consuming, preventing many from achieving savings, such as processing invoices soon enough to make early payment discounts practical, reducing duplicative spend and negotiating and then realizing volume purchase discounts.
Topics: Office of Finance, ERP and Continuous Accounting, Supplier Relationship Management, Procure-to-Pay, Purchase-to-Pay, Purchasing / Sourcing / Payments
The use of technology to manage procure-to-pay as an end-to-end process has grown significantly over the past five years as organizations look to increase efficiency while promoting greater effectiveness. Beyond efficiency gains, benefits include strategically maximizing early payment discounts, having more immediate and deeper insight into spend to achieve greater control and optimizing supplier relationships. The related and often interchangeable term, source-to-pay, views the process starting one step earlier with vendor selection. Traditional paper-based and manual P2P processes are too disjointed, inefficient and time-consuming, preventing many from achieving savings, such as processing invoices soon enough to benefit from early payment discounts, reducing duplicative spend and negotiating and realizing volume purchase discounts. Finance organizations are increasingly recognizing the value of P2P automation as part of broader digital finance initiatives, which is why we have included P2P in the 2023 Ventana Research market agenda for Office of Finance.
Today, technology has the ability to significantly increase the efficiency with which organizations handle expenditures while simultaneously containing costs, increasing controls and improving visibility into where the money is going. Procure-to-pay software enables organizations to manage the end-to-end process of requesting, procuring, receiving and paying for goods and services. The related and often interchangeable category of source-to-pay software begins with the process of securing the vendor. Both approaches are part of the 2023 Ventana Research market agenda for Office of Finance.
Topics: Office of Finance, Financial Performance Management, digital finance
The topic of artificial intelligence using machine learning (AI/ML) used to conjure up images of PhDs in white lab coats using massive computers to solve arcane problems, but today’s technology is packaged to be used effectively by those not trained in data science to address daily chores more efficiently. AI will be valuable to finance departments in five general areas: forecasting and planning, analytics, task supervision, recommendations and automated commentary. Although the payoff from throwing massive brain power at solving difficult problems can be significant, AI also has the potential to create value by automating repetitive processes or augmenting human involvement to gain efficiency while improving performance.
Topics: Office of Finance, Analytics, Business Planning, ERP and Continuous Accounting, AI and Machine Learning, digital finance
Many small to midsize manufacturing and product-centric organizations have struggled with the limitations imposed by on-premises platforms designed for an unrelated industry or subvertical. Others try to cobble together processes and data from multiple systems and spreadsheets. While these organizations have many of the same requirements as larger enterprises, resources are not comparable, especially for technology support. Purpose-built software can meet specific industry requirements while streamlining processes. A cloud deployment is particularly attractive for rapidly growing organizations because resources can remain focused on operations rather than managing technology, minimizing administrative overhead.
The 15th annual Ventana Research Digital Leadership Awards recognize organizations and individuals that utilize technology to advance business and IT. The Awards showcase professional leadership and their use of business applications or technology that led to improved organizational efficiency, productivity and performance. These leaders and pioneers have contributed to their organization’s success and championed improvements across people, processes, information and technology.
Topics: Office of Finance, Digital Technology, digital business
Large corporations were the first to benefit from computers, but the cloud and availability of affordable, easy-to-use software has levelled the playing field for small and midsize organizations (SMBs). Software can significantly enhance organizational effectiveness by streamlining interactions with customers and employees, supporting collaboration within departments and across the enterprise, and promote efficiency by reducing the administrative burdens of record keeping and increasing visibility into its performance and financial health. Compared to manual systems, including paper records and desktop spreadsheets, modern software enables organizations to grow and scale with agility while minimizing the administrative overhead, a key to long-term success.
The annual Ventana Research Digital Innovation Awards showcase advances in the productivity and potential of business applications as well as technology that contributes significantly to the improved processes and performance of an organization. Our goal is to recognize technology and vendors that have introduced noteworthy digital innovations to advance business and IT that optimizes organizational resilience and workforce readiness.
Topics: Office of Finance, Financial Performance Management, ERP and Continuous Accounting, Digital Innovation Awards, profitability management
Indirect taxes — known variously as sales-and-use, value-added or goods-and-services tax — can get complicated, particularly in countries that have overly complex tax regimes such as Brazil, India and the United States. For example, in the U.S., state and local governments have their own statutes defining which goods are taxed and at what rates, and taxable items and rates change all the time. More recently, compliance has grown more complex with the Supreme Court’s Wayfair decision, which ruled to allow states to impose sales tax collection requirements on remote sellers that exceed a certain threshold, without regard to physical presence in that state. And now, going into 2022, sales-and-use taxes as well as VAT are likely to become more complex, and enforcement is likely to become more stringent in the wake of the pandemic.
Topics: Office of Finance, Business Planning, Financial Performance Management, ERP and Continuous Accounting, Revenue, profitability management, digital finance, Lease & Tax Accounting
Financial consolidation is the process of combining financial data (notably assets, liabilities, income and expenses) from multiple subsidiaries’ general ledgers across an organization for the purpose of creating a parent company report. The current reality for financial consolidation and close processes is that many organizations still rely on manual spreadsheets, which can lead to longer closing periods, errors and confusion. According to SVP & Research Director in the Office of Finance Robert Kugel’s Best Practices, “Finance organizations must apply digital technology to reduce time spent on repetitive tasks to accelerate processes, improve data quality and shift focus to forward-looking analytical work.” Luckily, digital finance software companies have come a long way and now offer a variety of different products to significantly improve Office of Finance operations and workflow.
Topics: Office of Finance, Business Planning, Financial Performance Management, ERP and Continuous Accounting, Revenue, profitability management, digital finance, Lease & Tax Accounting
Ventana Research is sharing insights about Infor, drawn from our latest Value Index research, which assesses how well vendors’ offerings meet buyers’ requirements. The 2022 Ventana Research Value Index: Business Planning is a distillation of a year of market and product research efforts.
Topics: Office of Finance, Business Planning
Ventana Research is sharing insights about Unit4, drawn from our latest Value Index research, which assesses how well vendors’ offerings meet buyers’ requirements. The 2022 Ventana Research Value Index: Business Planning is a distillation of a year of market and product research efforts.
Topics: Office of Finance, Business Planning
Ventana Research is sharing insights about Planful, drawn from our latest Value Index research, which assesses how well vendors’ offerings meet buyers’ requirements. The 2022 Ventana Research Value Index: Business Planning is a distillation of a year of market and product research efforts.
Topics: Office of Finance, Business Planning
Ventana Research is sharing insights about Prophix, drawn from our latest Value Index research, which assesses how well vendors’ offerings meet buyers’ requirements. The 2022 Ventana Research Value Index: Business Planning is a distillation of a year of market and product research efforts.
Topics: Office of Finance, Business Planning
Ventana Research is sharing insights about insightsoftware, drawn from our latest Value Index research, which assesses how well vendors’ offerings meet buyers’ requirements. The 2022 Ventana Research Value Index: Business Planning is a distillation of a year of market and product research efforts.
Topics: Office of Finance, Business Planning
Ventana Research is sharing insights about Vena Solutions, drawn from our latest Value Index research, which assesses how well vendors’ offerings meet buyers’ requirements. The 2022 Ventana Research Value Index: Business Planning is a distillation of a year of market and product research efforts.
Topics: Office of Finance, Business Planning
Ventana Research is sharing insights about Workday, drawn from our latest Value Index research, which assesses how well vendors’ offerings meet buyers’ requirements. The 2022 Ventana Research Value Index: Business Planning is a distillation of a year of market and product research efforts.
Topics: Office of Finance, Business Planning
Ventana Research is sharing insights about Wolters Kluwer, drawn from our latest Value Index research, which assesses how well vendors’ offerings meet buyers’ requirements. The 2022 Ventana Research Value Index: Business Planning is a distillation of a year of market and product research efforts.
Topics: Office of Finance, Business Planning
Ventana Research is sharing insights about OneStream Software, drawn from our latest Value Index research, which assesses how well vendors’ offerings meet buyers’ requirements. The 2022 Ventana Research Value Index: Business Planning is a distillation of a year of market and product research efforts.
Topics: Office of Finance, Business Planning
Ventana Research is sharing insights about Anaplan, drawn from our latest Value Index research, which assesses how well vendors’ offerings meet buyers’ requirements. The 2022 Ventana Research Value Index: Business Planning is a distillation of a year of market and product research efforts.
Topics: Office of Finance, Business Planning
Ventana Research is sharing insights about Board, drawn from our latest Value Index research, which assesses how well vendors’ offerings meet buyers’ requirements. The 2022 Ventana Research Value Index: Business Planning is a distillation of a year of market and product research efforts.
Topics: Office of Finance, Business Planning
Ventana Research is sharing insights about Oracle, drawn from our latest Value Index research, which assesses how well vendors’ offerings meet buyers’ requirements. The 2022 Ventana Research Value Index: Business Planning is a distillation of a year of market and product research efforts.
Topics: Office of Finance, Business Planning
Ventana Research is sharing insights about SAP, drawn from our latest Value Index research, which assesses how well vendors’ offerings meet buyers’ requirements. The 2022 Ventana Research Value Index: Business Planning is a distillation of a year of market and product research efforts.
Topics: Office of Finance, Business Planning
Ventana Research is sharing insights about IBM, drawn from our latest Value Index research, which assesses how well vendors’ offerings meet buyers’ requirements. The Ventana Research Value Index: Business Planning is a distillation of a year of market and product research efforts.
Topics: Office of Finance, Business Planning
The annual Ventana Research Digital Leadership Awards recognize organizations and individuals that utilize technology to advance business and IT. The Digital Leadership Awards showcase the professional leadership and their use of business applications or technology that contribute significantly to improved efficiency, productivity and the performance of their organization. This prestigious award recognizes leaders and pioneers who have contributed to their organization’s success and championed improvements across their people, processes, information and technology.
Topics: Office of Finance, Business Planning, Financial Performance Management, ERP and Continuous Accounting, profitability management, digital finance, Lease & Tax Accounting
Historically, it’s been difficult to convince chief financial officers to invest in technology that makes it easier to spend money. That’s probably because before digital technologies, the natural impediments to spending stood as crude but effective strategies for fiscal control. Today, however, not using technology to streamline corporate spend actually increases costs and decreases control. The right software can increase efficiency and visibility into how money is spent, provide always-vigilant automated supervision, and enforce process conformity. Increasingly, artificial intelligence is providing finance and accounting with the means to improve spend-related processes.
Topics: Office of Finance, Analytics, Business Intelligence, Business Planning, Financial Performance Management, Process Mining, Streaming Analytics, AI & Machine Learning
The annual Ventana Research Digital Leadership Awards recognize organizations and individuals that utilize technology to advance business and IT. The Digital Leadership Awards showcase the professional leadership and their use of business applications or technology that contribute significantly to improved efficiency, productivity and the performance of their organization. This prestigious award recognizes leaders and pioneers who have contributed to their organization’s success and championed improvements across their people, processes, information and technology.
Topics: Performance Management, Sales, Customer Experience, Human Capital Management, Marketing, Marketing Performance Management, Office of Finance, Voice of the Customer, Continuous Planning, Business Continuity, Learning Management, Analytics, Business Intelligence, Cloud Computing, Data Governance, Data Integration, Internet of Things, Business Planning, Contact Center, Data, Product Information Management, Sales Performance Management, Talent Management, Workforce Management, Financial Performance Management, Digital Technology, Digital Marketing, Digital Commerce, Operations & Supply Chain, Enterprise Resource Planning, Total Compensation Management, Continuous Payroll, Field Service, Process Mining, Streaming Analytics, Conversational Marketing, Digital Experience Platform, AI & Machine Learning, Experience Management, Digital Communications, Analytics & Data
The annual Ventana Research Digital Leadership Awards recognize organizations and individuals that utilize technology to advance business and IT. The Digital Leadership Awards showcase the professional leadership and their use of business applications or technology that contribute significantly to improved efficiency, productivity and the performance of their organization. This prestigious award recognizes leaders and pioneers who have contributed to their organization’s success and championed improvements across their people, processes, information and technology.
Topics: Performance Management, Sales, Customer Experience, Human Capital Management, Marketing, Marketing Performance Management, Office of Finance, Voice of the Customer, Continuous Planning, Business Continuity, Learning Management, Analytics, Business Intelligence, Cloud Computing, Data Governance, Data Integration, Internet of Things, Business Planning, Contact Center, Data, Product Information Management, Sales Performance Management, Talent Management, Workforce Management, Financial Performance Management, Digital Technology, Digital Marketing, Digital Commerce, Operations & Supply Chain, Enterprise Resource Planning, Total Compensation Management, Continuous Payroll, Field Service, Process Mining, Streaming Analytics, Conversational Marketing, Digital Experience Platform, AI & Machine Learning, Experience Management, Digital Communications, Analytics & Data
The annual Ventana Research Digital Leadership Awards recognize organizations and individuals that utilize technology to advance business and IT. The Digital Leadership Awards showcase the professional leadership and their use of business applications or technology that contribute significantly to improved efficiency, productivity and the performance of their organization. This prestigious award recognizes leaders and pioneers who have contributed to their organization’s success and championed improvements across their people, processes, information and technology.
Topics: Performance Management, Sales, Customer Experience, Human Capital Management, Marketing, Marketing Performance Management, Office of Finance, Voice of the Customer, Continuous Planning, Business Continuity, Learning Management, Analytics, Business Intelligence, Cloud Computing, Data Governance, Data Integration, Internet of Things, Business Planning, Contact Center, Data, Product Information Management, Sales Performance Management, Talent Management, Workforce Management, Financial Performance Management, Digital Technology, Digital Marketing, Digital Commerce, Operations & Supply Chain, Enterprise Resource Planning, Total Compensation Management, Continuous Payroll, Field Service, Process Mining, Streaming Analytics, Conversational Marketing, Digital Experience Platform, AI & Machine Learning, Experience Management, Digital Communications, Analytics & Data
The annual Ventana Research Digital Leadership Awards recognize organizations and individuals that utilize technology to advance business and IT. The Digital Leadership Awards showcase the professional leadership and their use of business applications or technology that contribute significantly to improved efficiency, productivity and the performance of their organization. This prestigious award recognizes leaders and pioneers who have contributed to their organization’s success and championed improvements across their people, processes, information and technology.
Topics: Performance Management, Sales, Customer Experience, Human Capital Management, Marketing, Marketing Performance Management, Office of Finance, Voice of the Customer, Continuous Planning, Business Continuity, Learning Management, Analytics, Business Intelligence, Cloud Computing, Data Governance, Data Integration, Internet of Things, Business Planning, Contact Center, Data, Product Information Management, Sales Performance Management, Talent Management, Workforce Management, Financial Performance Management, Digital Technology, Digital Marketing, Digital Commerce, Operations & Supply Chain, Enterprise Resource Planning, Total Compensation Management, Continuous Payroll, Field Service, Process Mining, Streaming Analytics, Conversational Marketing, Digital Experience Platform, AI & Machine Learning, Experience Management, Digital Communications, Analytics & Data
Over the past decade, close-management software has evolved to enable even midsize organizations to streamline department processes, operate in a virtual mode, accelerate the accounting close and reduce staff stress. It’s one step toward continuous accounting, which is defined by Office of Finance Research Director Robert Kugel as an approach to managing transactions recording and accounting that takes advantage of current technology to streamline and restructure the accounting function. In many organizations, accounting remains stuck in the past, failing to use available technology to reduce workloads and accelerate accounting processes. The objective of continuous accounting is to enable the chief financial officer, controller and chief accounting officer to be more effective by automating routine tasks, reducing errors, streamlining workflows and facilitating collaboration. Organizational efficiency and, potentially, accounting staff satisfaction is gained from the reduction of manual, repetitive processes that otherwise require review, sign-off and manual preparation of documented evidence.
Topics: Office of Finance, Business Planning, Financial Performance Management, ERP and Continuous Accounting, profitability management, digital finance
Power ON is software designed for organizations to streamline their business planning, budgeting, forecasting, reviewing and reporting, in order to make these processes more effective and accurate. Organizations do a lot of planning: In addition to the budget, they plan headcount, sales, production and their supply chain, as well as other business functions, and traditionally execute this using spreadsheets as they are a familiar tool. However, spreadsheets make it difficult for individuals to plan, especially those in operational roles, and combining a set of spreadsheet-based plans and budgets into an enterprise-wide whole is time consuming and error prone. Power ON addresses the shortcomings of spreadsheet budgeting and planning by enabling executives and managers to work interactively with their models while examining and analyzing historical financial and operational data to better inform their planning decisions. It is designed to streamline planning and budgeting to enable more agile and connected planning. When departments share a common platform, it provides holistic data and analytics so that finance executives can have a comprehensive picture of where the company stands in real time.
Topics: Office of Finance, Business Planning, Financial Performance Management, ERP and Continuous Accounting, revenue and lease accounting, profitability management, digital finance
A digital finance and accounting organization is one that uses software to enhance efficiency by eliminating manual operations and automating workflows, improving financial data quality. This is especially relevant to small to midsize organizations that need to minimize administrative overhead yet still have financial controls and operational visibility to achieve and sustain profitable growth. A continuous accounting approach can streamline tasks and processes, reducing time spent on repetitive tasks, ensuring data quality and providing a focus on financial outcomes and business performance.
Topics: Office of Finance, Analytics, Digital Technology, AI and Machine Learning, digital finance
Business improvement stems from technology investments that advance automation and apply intelligence to your work and processes, increasing the potential achievement of desired outcomes. Assessing vendors and utilizing technology for optimization and innovation is the foundation for digital transformation, and our chief research officer asserts that by 2025, over one-half of organizations will determine that the chaos of digital technology usage requires a rationalization of vendors to ensure operational excellence.
Topics: Customer Experience, Human Capital Management, Marketing, Office of Finance, Analytics, Data, Digital Technology, Operations & Supply Chain, digital business, Office of Sales