After a decade of limited technology innovation, the office of finance computing landscape now is experiencing significant transformation. This shift can be seen in areas including ERP, accounting and financial performance management applications like budgeting, closing and planning applications that now are readily available for licensing through subscription and in the cloud. In-memory computing and big data infrastructure make it easier to process larger volumes of data as well as identify risk and opportunities to improve results. “We’ve always done it this way” won’t do anymore. Finance organizations must adapt to the expanding potential from what technology is making practical.
Ventana Research offers fact-based strategic advisory services to the Office of Finance that are designed to resolve process and people issues by addressing the underlying defects in technology (software) and information (data). Through its understanding of the vendor landscape and technology trends, Ventana Research enables it clients to maximize their substantial investment in technology for ERP, financial consolidation and reporting, budgeting and planning, price and revenue management, subscription management and finance analytics.
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Completing the accounting close quickly has been a longstanding objective for finance departments. Among those participants in our benchmark research whose departments take more than a business week to close; most (69%) said they want to shorten th
By itself data isn't useful for business. It requires analytics to transform data into actionable information. Analytics of one sort or another has long been a core competence of finance departments; applied to balance sheets; income statements or c
Numbers are the raw material for everything finance departments do. That�s why it�s essential that they have all the data they need and that it be of the highest quality. Without a guarantee of data availability and quality;
In order for an organization to run efficiently and effectively it must actively manage its performance. Corporations; small businesses; government entities and nonprofits all must be able to set objectives; plan and budget; and review and evaluate
Companies routinely collaborate in creating; editing; updating; proofreading; and approving composite documents. These documents have common characteristics: They combine text and numerical data; Present numerical data in
Over the past decade; senior executives have increasingly demanded more from financial planning and analysis (FP&A) professionals. Corporate leaders who once might have been satisfied with assessments informed by intuition now demand data-driven
The number of days it takes it to close the company�s books � that is; the number of days into the following month required to completed all the activities associated with the financial close � is a reliable way to gauge the effectiveness of a finan
Businesses collect; track and analyze data from a wider and deeper set of sources than ever before. They use these analytics-based insights increasingly in every aspect of their business � to assess financial performance; process quality; operational
Planning is a key component to all businesses; but often; the reality does not go according to plans. In businesses; this discrepancy can increase costs and waste time. But with the right tools; organizations can more closely align their plans to the
Realizing an appropriate return on capital spending is critical. Poor allocation of investment funds can impair the competitiveness and profitability of a corporation, which is why well-run organizations have a disciplined methodology for making thes
Today�s CFO knows that human capital is an organization�s most valuable asset; but in practice most organizations rarely connect their investments in people to their overall financial performance. A primary reason for this gap is that business proce
Many discussions of cloud computing concern how cloud-based software and services enable small and midsize businesses to acquire many of the same capabilities as large ones. In fact; though; large companies have been adopting the cloud; too � and wi
Ventana Research coined the term continuous accounting� to describe how recent advances in information technology can help finance organizations to fundamentally restructure their departmental operations to transform their function.
Finance organizations; especially those in growing midsize companies; often find their workloads overwhelming. They�d like to find ways to operate more efficiently but think they�re too busy to look for ways to save time. As our research makes clear
Over the past decade; markets have grown increasingly global; especially for technology companies. Rising incomes in underdeveloped countries have led to increased demand for a wide range of products. However; this opportunity also brings with it a
It�s generally accepted that companies should be able to close their books within a week of the period end; whether monthly; quarterly or semiannually. Yet our recent benchmark research shows that only half of participating organizations accomplish
Organizations are maturing slowly; the research found; because the focus is on traditional finance-related metrics and too little attention is paid to new; more advanced techniques such as predictive analytics and employing leading indicators (
Ventana Research is the first research company to benchmark organizations use of information and technology to employ analytics in finance organizations. The research assessed the maturity by examining the people; process; information and technology
The research assessed the maturity by examining the people; process; information and technology competencies required to make the most effective and efficient use of analytics. The research reveals that organizations are aware of the value analytics
Information plays a critical role in managing a company; and IT systems enable companies to work with this information. Your responses to this survey will help us understand the extent to which The information you get to do your job is timely a
Financial performance management software plays a critical role in organizations. These tools deal with the full cycle of the finance department; including planning and budgeting; analysis; assessment and review; closing and consolidation; and intern
Many organizations fail to optimize performance because they remain focused on solving yesterday�s problems. For many years; proponents of information technology have promised great benefits to business; typically far in advance of actual products be
Managing performance effectively requires that a company be able to provide executives; managers and employees with accurate; timely information and make it possible for them to work interactively with that information
Governance is essential to the management of a corporation. Without it there can be no reliable way to guide the actions of individuals to align them to corporate objectives and requirements. Risk; for its part; comes in many forms; including interna
The business activities known as governance; risk and compliance (GRC) are tightly linked. Governance; risk management and compliance management are separate but closely related activities that take place in any organization. Governance is essential
The business activities known as governance; risk and compliance (GRC) are tightly linked. Governance; risk management and compliance management are separate but closely related activities that take place in any organization. Governance is essential
In today�s intensely competitive markets; managers can�t rely on decisions based completely on gut feelings without running the risk of making wrong decisions that are costly in terms of both money and expertise. Instead they need high-quality infor
A continuous planning approach that uses frequent portfolio analyses to evaluate new project demand against in-progress work will help organizations achieve greater agility; flexibility; coordination and accountability in their operations and project
Closing the books and reporting financial results are core functions of the finance department. Not only is the close essential for fiscal governance; executives and managers use these quantitative business results to assess performance and identify
Dedicated planning software has existed in relatively sophisticated forms for more than a decade. Yet our research shows that almost half of all large global companies prepare plans and budgets in time-consuming primarily using spreadsheets. Spreadsh
Long range planning (LRP) is a process and discipline that companies use to determine the best strategy for succeeding in the markets they serve. These initiatives when done well; supports strategic goals and objectives and allow organizations to all
Long-range planning (LRP) is a process and discipline that companies use to determine the best strategy for succeeding in the markets they serve and to ensure they have the capabilities needed to support their strategic objectives; they also must pla
There is longstanding agreement on the importance of a company closing its books as quickly as possible. A short close becomes all the more important during periods of business disruption and uncertainty because it allows an organization to accelerat
The role of the controller is a demanding one. To be successful in this position; an individual must possess strong interpersonal and communications skills. He or she also must be superbly well organized and an expert at multitasking and have a keen
Finance organizations find it difficult to assume a more strategic role in their company when they are bogged down by inefficient processes. Yet; many think that enterprise software automation projects are too difficult and time consuming. The answer
The enterprise resource planning (ERP) system is a pillar of nearly every company�s record-keeping and management of business processes. It is essential to the smooth functioning of a business�s accounting and finance functions. In manufacturing and
The enterprise resource planning (ERP) system is a pillar of nearly every company�s record-keeping and management of business processes. It is essential to the smooth functioning of a business�s accounting and finance functions. In manufacturing and
Software vendors have begun to introduce new; more advanced analytic applications that are more accessible and no longer require a trained statistician. This next-generation of finance analytics capabilities may make it possible to access and analyze
Software vendors have begun to introduce new; more advanced analytic applications that are more accessible and no longer require a trained statistician. This next-generation of finance analytics capabilities may make it possible to access and analyze
Today; budgeting and operational planning effrots are typically only loosely connected. In contrast; Next-Generation Business Planning closely integrates unit-level operational plans with financial planning. Relying on information technology; it enab
Next-generation business planning closely integrates individual operational plans with financial plans. Supported by dedicated software; it enables companies to plan faster with less effort to achieve greater accuracy and agility.
Compensation management used to address a very specific need; managing compensation. But as the information age has transformed how businesses utilize and leverage analytics; compensation management has grown in scale. While the main function is the
Ventana Research undertook this Benchmark Research into the Next Generation of Business Planning to examine systems and tools that operate across business processes; influencing the optimal use of information and technology to manage performance. Thi
Finance transformation� refers to a longstanding objective: shifting the focus of CFOs and finance departments from transaction processing to more strategic; higher-value functions. Our research confirms that most executives want their finance depar
Finance transformation� refers to a longstanding objective: shifting the focus of CFOs and finance departments from transaction processing to more strategic; higher-value functions. Our research confirms that most executives want their finance depar
Finance transformation� refers to a longstanding objective: shifting the focus of CFOs and finance departments from transaction processing to more strategic; higher-value functions. Our research confirms that most executives want their finance depart
Payroll management has traditionally been in a domain of its own; occupied solely with ensuring correct and timely payment along with compliance with relevant regulations. As a narrowly focused and transaction-oriented process; payroll management has
In many organizations; routine functions can be overlooked as places for improvement; and payroll management is one of those areas. With the growth of integrated systems in human capital management; the once stand-alone function of payroll is being b
Performance management is a strategy and a set of methodologies and processes that can be used for managing performance in financial services organizations. Its purpose is to achieve a common set of goals and objectives in the most efficient manner.
Performance management is a strategy and a set of methodologies and processes for managing the performance of the organization and its business network; its purpose is to achieve a common set of goals and objectives. At its core; then; performance m
Budgeting and planning is an area of finance that is long-established yet ripe for change. There is widespread dissatisfaction with the budgeting process. Nearly all business people regard it as a waste of time and resources. Typically; it eats up 10
Budgeting and planning is an area of finance that is long-established yet ripe for change. There is widespread dissatisfaction with the budgeting process. Nearly all business people regard it as a waste of time and resources. Typically; it eats up 10
The Product and Services Analytics Benchmark confirms that metrics and key indicators are important; and are used most often to evaluate cost- and budget-related factors. And they show that analytics processes are not very effective in most
The term recurring revenue refers to models for selling and billing typically based on a combination of initial fees and periodic charges. In recent years; it has gained popularity in a variety of industries.
The term recurring revenue refers to models for selling and billing typically based on a combination of initial fees and periodic charges. In recent years; it has gained popularity in a variety of industries.
The term recurring revenue refers to models for selling and billing typically based on a combination of initial fees and periodic charges. In recent years; it has gained popularity in a variety of industries.
Ventana Research undertook this first independent; rigorous primary research in Recurring Revenue makes clear that organizations increasingly are choosing to adopt this model to increase revenue and improve their customers� experience. Pioneered by t
Robotic process automation (RPA) is a relatively new concept in the software industry. It involves the use of programming or analytical algorithms to execute the most appropriate action in an automated workflow without human intervention.
Product Information Management (PIM) is essential to business processes; the customer experience; and ultimately financial performance. It is shared among business units; customers; partners and distributors and may take many forms; including text; v
Explore important questions about Strategic Financial Planning and Management in this Ventana Research Q&A. Questions Include: What are the most important trends in financial planning? What new technology trends are most likely to impact
The subscription business model has grown in popularity with providers of services or products because it establishes a regular; predictable income stream. This is particularly true for technology companies. However; the subscription model poses chal
Product Information Management (PIM) is essential to business processes; the customer experience; and ultimately financial performance. It is shared among business units; customers; partners and distributors and may take many forms; including text; v
As organizational spend continues to evolve; key expenses such as business travel and employee spend are becoming increasingly difficult to control. Organizations that have deployed separate manual processes to manage aspects of spending often contin
There has long been a desire on the part of CFOs to have their departments play a more strategic and active role in the management of their organization. Many envision moving Finance from a backward-looking stance of bean counting� to an action-orien
Business benchmarking is a decades-old practice that now is entering a new era. Providers of today�s cloud-based business systems can create process benchmarks quickly and efficiently by monitoring and measuring how customers use their service. The
Digital transformation is a popular term that encompasses a range of fundamental changes caused or catalyzed by modern information technology. The internet and intelligent mobile devices have changed how people live; work; shop and communicate. Wh
CFOs are looking for ways to close their books faster. Completing the accounting cycle quickly and accurately is a good indicator of efficiency in a finance organization. In most organizations; though; a complex set of issues impedes achieving a fast
CFOs are looking for ways to close their books faster. Completing the accounting cycle quickly and accurately is a good indicator of efficiency in a finance organization. In most organizations; though; a complex set of issues impedes achieving a fast
CFOs are looking for ways to close their books faster. Completing the accounting cycle quickly and accurately is a good indicator of efficiency in a finance organization. In most organizations; though; a complex set of issues impedes achieving a fast
Many CFOs and controllers find themselves in a bind. They look for ways to give the finance department a more strategic role in their company; yet they cannot provide the resources Finance would need to be able to handle core functions quickly and e
Many senior finance executives want their department to play a more strategic role in the management and operations of their company. They believe there is value in shifting their focus from processing transactions to higher-value functions in order
Compensation management used to address a very specific need; managing compensation. But as the information age has transformed how businesses utilize and leverage analytics; compensation management has grown in scale. While the main function is the
There is general agreement that it is good practice for companies to close their books within one business week. Our benchmark research on the Office of Finance confirms that; finding that on average executives and managers in midsize and larger com
Most companies need to accelerate their close-to-report cycle � the periodic process of closing the ledgers; consolidating the financial data and then reporting results both internally and externally to third parties such as shareholders; lenders an
Managing profitability effectively is especially important in today�s constrained pricing environment. Shifts in market structures; including globalization and better informed customers; have made it difficult to raise prices.
To achieve success in today�s intensely competitive market environment; businesses must take all steps possible to enable their employees to perform at their best and must allocate their workforce as effectively as possible. In Ventana Research�s vi
Performance management consists of the strategy; methodologies and processes to manage the performance of an organization and its business network to achieve an agreed-upon set of goals and objectives. It is an undertaking that returns significant v
Many Organizations today are applying predictive analytics. 83% of participants in our research said that predictive analytics is important to their organization, and nearly all executives said they consider predictive analytics important.
CIOs and senior IT leaders such as directors of global applications and enterprise architects constantly face the challenge of reducing technology costs while continuing to deliver consistent value to the business. The IT organization must always be
Continuous improvement is a pillar of continuous accounting – an approach to managing finance and accounting organizations that makes improving the department’s effectiveness practical by increasing its efficiency. A business culture that has embrace
Despite widespread agreement that shortening the monthly and quarterly close is important, over the past decade our research has found no progress toward achieving this objective. Perhaps one reason is the available technology, which some companies h
Today’s corporate planning is flawed. For example, our benchmark research finds that companies often react too slowly to changing market conditions. They miss opportunities to sell more and wind up allocating resources to less productive or less prof
he challenges facing tax departments are mounting. Governments worldwide are scrutinizing companies’ reporting more closely in an attempt to raise revenue. In response, corporate boards and executives increasingly are demanding greater visibility int
Performance management is a strategy and a set of methodologies and processes for managing the performance of the organization and its business network; its purpose is to achieve a common set of goals and objectives. At its core, then, performance ma
New rules governing revenue recognition for contracts will go into effect for publicly held companies in 2018 and for private ones in 2019. The Financial Accounting Standards Board, which administers Generally Accepted Accounting Principles in the U.
Human capital is a business’s most important asset. Most of the time it also is the largest operating expense, and thus can have a major impact on profitability and overall success. To keep employees engaged and productive, companies must of course c
Robots are not about to take over finance and accounting, but a set of emerging technologies will enable any department to finally redefine itself as a forward-looking strategic partner to the rest of the company. This webinar, aimed at finance and a
Finance organizations will be putting systems in place for operationalizing lease accounting as they prepare to comply with the new standards. I recommend they have a dedicated system for lease management and accounting if their existing software can
As organizations work to master the complexities of the new lease-accounting standards (ASC 842 and IFRS 16) it’s important they not overlook the importance of having the right systems and software to make operationalizing compliance as easy as possi
People have been complaining about budgeting forever. Technology helps the CFO and finance organization produce a detailed budget and analyze “the numbers” with less effort than was required in the past. Dissatisfaction remains, however, because tech
Ventana Research uses the term predictive planning to describe an agile, high-participation process that builds on innovative technology to achieve business objectives. Predictive planning uses a shared computing environment to enable cross-functiona
The tax provision and tax reporting processes being used by organizations are receiving greater attention from CFOs and audit committees for two important reasons. One is an intensified determination to shorten the accounting close. The other is to a
Continuous improvement is a pillar of continuous accounting – an approach to managing finance and accounting organizations that makes improving the department’s effectiveness practical by increasing its efficiency. How well are you doing? Take the se
Companies do a lot of planning: They plan sales, determine what products and services they will offer, decide what they will charge and what these will cost. They plan the headcount they’ll need to run the business and how to organize distribution an
More effective management of pricing usually is the biggest profitability lever available to corporations. Yet, senior executives often cannot manage pricing effectively because they encounter five common obstacles. First, they lack visibility into a
Technology has steadily advanced the analytic techniques that enable businesses to undertake the challenge of supply chain optimization. These have evolved from basic inventory optimization routines to more complex algorithms that address multiple ob
A majority of companies take more than six business days to complete their accounting close. Taking more than one business week to close the books prevents companies’ decision-makers from being able to act promptly on critical information. It shorten
Close automation software designed for midsize companies is relatively new. Successful midsize companies may find they need to automate their close when it takes longer to close, when mistakes, dropped balls and preventable delays increase, or if err
Companies with multinational supply chains must become more agile and resilient to adapt to a more challenging environment driven by a new world trade order and the need to manage to sales and profitability targets. Software is critical to achieve su
The tax provision and tax reporting processes are getting greater attention from CFOs and audit committees for three reasons. One is shortening the accounting close. The second is achieving greater transparency in the full cycle of tax planning, prov
Collaborative enterprise planning is a methodology that connects all planning activities of a company’s departments and business units, enabling them to share their plans and to plan collaboratively. This form of planning uses technology to rapidly a
New standards for accounting for leases went into effect for public companies with a calendar fiscal year at the start of 2019 and for private companies in 2020. (For companies in the United States it’s ASC 842 and for most companies outside the U.S.
Still using spreadsheets for SOX404 and 302 compliance? Organizations need software, not spreadsheets, to achieve sustainable and efficient compliance
The new revenue recognition standards (ASC 606 and IFRS 15) not only affect how recurring revenue is reported, but also how companies account for commissions and other selling costs for transactions covered by contracts that are in force for a year o
Digital finance transformation improves the performance of the finance department using digital technologies to integrate and automate business processes. Using technology, performance is improved through, for example, greater efficiency and lower co
Over the next ten years, technology will do more to change the nature of the work done in the finance and accounting organization than it has over the past 50. A range of technology advances affecting databases, data processing, analytics, user exper
Make #accounting cool: liberate everyone by eliminating administrivia, simplify and speed processes, improve control while promoting efficiency. How? Practical, proven and affordable software designed specifically to meet the demanding needs of midsi
Software designed to manage compliance can provide strong controls that meet the demands of SOX. In addition to improving accounting department efficiency, the software can lower the risk of non-compliance, streamline SOX processes, and reduce costs.
Companies need software that enables immediate access to all their business unites’ plans simplifies data collection, facilitates analysis and drilling down into detail, offers dashboards that are easy to create and modify and supports automated self
The time saved by using dedicated planning and budgeting software and therefore not having to deal with spreadsheet machinations would enable people working in FP&A to do what they were hired to do: Analysis.
Data is gathered from multiple sources into a form and format readily available to business analysts for multiple uses. Multiple sources enrich analysis and reporting. But, data preparation has some challenges. 68% of companies spend the largest sha
The first big wave of public company filers are wrapping up their first quarter of reporting under ASC 842. But, for many companies the 10-Q was a brute force effort dependent upon spreadsheets, workarounds, and lots of staff. While organizations can
Predictive planning empowers organizations to achieve a higher return on the time they invest in planning. Technology plays a key role in enabling predictive planning.
Integrated Business Planning is an approach to business planning that integrates strategy, operations and finance. While the annual budget focuses on financial planning, IBP gives executives and managers operational tools to manage business planning
The software can become functionally obsolete even if it still operates. This makes it difficult to know when it’s time to replace a legacy system. Finance organizations should assess replacing existing software when it limits departmental efficiency
Ventana Research has conducted quantitative research on the performance of the finance organization for 15 years. The research has been conducted against the backdrop of the idea that finance organizations must play a more strategic role in the manag
Ventana Research has conducted quantitative research on the performance of the finance organization for 15 years. The research has been conducted against the backdrop of the idea that finance organizations must play a more strategic role in the manag
Technology in general and AI in particular have the potential to change the nature of work done by finance and accounting departments. It will increase individuals’ productivity, eliminate tedious repetitive work and enhance the quality of financial
A central aspect of continuous accounting is controlling accounting and other data that affects financial statements continuously, from start to finish. This form of control, known as “straight-through processing,” addresses the significant issue of
The electronic spreadsheet is among the top five most important advances in business management to come along in the last 100 years. It has revolutionized almost all aspects of finance and accounting.
The basic concepts used for measuring, analyzing and managing profitability are well established. The challenge has been to translate the concepts into practical methods and processes. Technology now enables organizations to address those challenges.
CIOs face the constant challenge of having resources available for strategic projects while still performing essential “keep-the-lights-on” activities. IT organizations can shed non-essential workloads, especially as they forge a relationship with th
There are times when organizations can be overwhelmed by financial stress while simultaneously embracing distributed working environments and other operational constraints they weren’t prepared for. Finance and accounting departments that can utilize
Finance executives need to rethink their planning and budgeting processes to make them faster, more agile and more predictive to achieve their objectives under any circumstances.
I like Louis Pasteur’s observation that “fortune favors the prepared mind.” So-called black swan events happen regularly and can have a very negative effect on a business.
Sometimes it takes a while for technology to fundamentally change how work is done. That’s because several innovations usually have to come together before a transformation can occur.
The global pandemic crisis was, in effect, an unrehearsed stress test measuring the resiliency of the department. The crisis highlighted the importance of sustaining confidence in the accuracy and control of accounting processes, not just efficiency.
Dedicated software is the most effective tool for organizations seeking to plan for business continuity, sustainability and success
The Chief Financial Officer can enable her or his finance department play a more strategic role in company operations by adopting what I call profitability management.
For decades I’ve heard people talk about cutting audit costs to reduce administrative overhead but based on my observations, I was skeptical — mostly because, until recently, the documented success stories haven’t been about going from good to great
I like Louis Pasteur’s observation that “fortune favors the prepared mind.” So-called black swan events happen regularly and can have a very negative effect on a business.
I like Louis Pasteur’s observation that “fortune favors the prepared mind.” So-called black swan events happen regularly and can have a very negative effect on a business.
We find in our recent Change in the Office of Finance benchmark research an indication of the value of using automation to execute finance department functions.
In late February I attended Spark, the Scout annual user group meeting. This was the third and likely the last such meeting, as Scout was recently acquired by Workday.
One of the objectives of our recent Change in the Office of Finance benchmark research was to assess the technological capabilities of finance and accounting departments.
I was invited to sit on a panel at CFO 3.0 events held in San Francisco and New York hosted by Sage Intacct.
Ventana Research recently announced its 2020 research agenda for the Office of Finance, continuing the guidance we’ve offered for nearly two decades on the practical use of technology for the finance and accounting department to help these organizati
Yes, it’s an easy metaphor, but a worthwhile one to consider. For the Office of Finance, figures are its raw material.
Host Analytics recently announced it will now go by the name Planful.
I’ve written before about blockchain’s significant potential. A lot of the current discussion on the topic centers on cryptocurrencies and financial trading platforms, both of which are already in operation.
Pricing is an eternally vexing issue in business. Over the years, organizations have used different strategies to establish prices for their products, depending on custom, the nature of the business and the degree of competitiveness in the market.
In a recent note on virtualizing the close, I observed that finance and accounting organizations that can operate in a virtual mode are better able to adapt to changing circumstances and overcome obstacles.
“Virtualizing” the accounting close involves applying software automation, substantially reducing manual and paper-based processes and incorporating electronic collaboration. Virtualization enables finance and accounting departments to achieve speed
Sage Intacct recently hosted its annual user group meeting, Advantage, and earlier this year met with industry analysts. Both meetings shed light on how the company is addressing two key opportunities.
For years I’ve viewed with skepticism the claim that one technology or another will reduce audit costs. For one, there’s rarely a silver bullet.
Ventana Research recently published benchmark research findings on the Office of Finance, many of which show a trend in the right direction.
The financial planning and analysis (FP&A) group is the linchpin of any transformation effort in the Office of Finance. Our recently completed Office of Finance benchmark research was conducted against the backdrop of the idea that finance organizati
Configure, price and quote (CPQ) software has been around for decades. Lately, I’ve been using the term “Dynamic CPQ” to apply to a variant of this software category that explicitly aims to produce a quote that optimizes the trade-off between the pro
The traditional office of finance has five main organs: accounting keeps the books; financial planning and analysis (FP&A) analyzes performance and manages the forward-looking activities of the company such as planning, budgeting and forecasting;
A quarter century ago the “fast, clean close” became a key measure of a finance and accounting department’s effectiveness.
By itself, data isn’t useful for business; the application of analytics is necessary to transform data into actionable information.
Infor recently held their Innovation Summit at Infor corporate headquarters in New York. At this annual event, they spend a good deal of time talking about progress on current initiatives and the exciting parts of the development roadmap.
“Platform,” as used in the world of technology, originally referred to an operating system on which one could construct software applications.
Identity management is an old problem that has taken on new dimensions in the digital world. In 1993, at the dawn of the World Wide Web (WWW), The New Yorker ran a cartoon featuring two dogs talking, one perched in front of a computer.
Business planning in most companies is a relic, a process hemmed in by obsolete conceptions of what it can be. “Business planning” encompasses all of the forward-looking activities in which companies routinely engage, including marketing, sales, cust
From my perspective there were two significant takeaways from this year’s SuiteWorld.
Prophix is a financial performance management (FPM) suite from Prophix Software offering statutory financial consolidation, planning, budgeting and reporting capabilities designed expressly for midsize companies and divisions of larger corporations.
Last week, Scout RFP held their 2nd annual user conference, Spark 2019. Scout’s software is designed to manage sourcing and procurement processes in companies.
IBM’s THINK conference, just held this February in San Francisco, is IBM's annual user conference.
We’re in a new era of trade, the result of converging issues that have been building for at least a decade.
New rules governing revenue recognition for contracts have gone into effect for larger companies and are about to go into effect for smaller ones.
“Straight-through processing” (STP) is a business process and data architecture methodology.
I recently attended BlackLine’s annual user conference. The company aims to automate time-consuming repetitive tasks and substantially reduce the amount of detail that individuals must handle in the department.
Virtual accounting enables the department to achieve speed and resilience without sacrificing accuracy and control. Start by virtualizing the close.
Recent events are forcing corporations to adopt dedicated software for tax provision, transfer pricing and tax analysis.
Dedicated planning and budgeting software improves public sector finance department efficiency and enables responsive, high-quality service.
FP&A and business analysts can make reporting more effective by reimagining how, what and when their company does its reporting.
Workiva recently introduced Chains, a visual workflow tool for the Workiva platform.
Dedicated planning and budgeting software will help government organizations build the ability to maintain business continuity.
Midsize organizations face a unique set of challenges. Software can help enable growth without adding administrative overhead, and close automation is a great place to start.
One of the challenges of being a practically minded technology analyst is squaring the importance of “the next big thing” with the reality of what most organizations are doing.
A great deal has changed in how finance and accounting departments operate since the start of 2020.
In this Analyst Perspective from Robert Kugel, learn how FP&A can redefine its mission to achieve the long-stated goal of making it more of a strategic partner with the rest of the organization.
An important recent development in software designed for the Office of Finance is the addition of what we’re calling a data aggregation device (DAD) for analytical applications.
A couple of years ago, I started talking about a “New Era of Trade.” Its starting point was the world financial crisis in 2007, but the evidence that we were experiencing a shift only became obvious years later.
What business continuity lessons have public sector organizations learned during recent challenging times? How can planning and budgeting software contribute to agility that helps promote business continuity? How can the accounting and finance depart
Enterprise resource planning (ERP) systems are central to nearly every organization’s management of operational and financial business processes.
In preparing this research note I took the precaution of searching “value-based planning” to see what came up. Over the years, the term has been used in several contexts each with different shadings.
The critical lesson learned from any crisis is the importance of resiliency to cope with sometimes rapidly changing circumstances. Technology has demonstrated that it provides the essential ingredient to achieving this resiliency.
One of the oddities of corporate management is that, as a rule, nobody oversees managing profitability.
Charles Darwin never said evolution was a matter of the survival of the fittest. On the contrary, he said: It is not the strongest of the species, nor the most intelligent that survives. It is the one that is most adaptable to change.
Can you imagine a more arcane and boring topic than accounts receivable? Unless you are the CFO, controller, chief accounting officer or treasurer of an organization, maybe not.
Effective financial management requires the ability to understand an organization’s current condition while having visibility into its potential future state.
The purpose of planning is to enable executives and managers to make better-informed decisions more consistently. Planning within an organization requires setting objectives and weighing the alternative methods of achieving those objectives, because
Robotic Process Automation (RPA) is a core digital technology for increasing productivity and efficiency, speeding the completion of work, and increasing its quality and controllability.
Information technology will have a greater impact on how the finance department operates over the next 10 years than it has over the past 50. The cumulative impact of a decade of steady technology evolution along with the demographic shift to digital
In the context of planning, budgeting and benchmarking, external data includes information about the world outside an organization such as economic and market statistics, competitors and customers.
BlackLine recently held its first virtual user conference, Beyond the Black, where it detailed numerous additions and enhancements to its applications.
Finance executives have come to value contingency planning and adaptability in the face of uncertainty, whether it is caused by a worldwide crisis or simply the variance of day-today business.
The post-pandemic world will see much returned to normal, but there will also be change. For businesses that faced shutdowns, these changes will include higher taxes to pay for the costs of mitigating the economic impact, and the loss of tax revenue.
Ventana Research has announced its market agenda for 2021, continuing the tradition of transparency in our efforts to educate and guide the technology market but also our independence as we do not share our market agenda or analyst perspectives with
Profitability management produces a sustainable competitive advantage but by 2025 only one-third of companies will have implemented a profitability management initiative, explains Ventana Research SVP and Research Director Robert Kugel.
Ventana Research recently announced its 2021 market agenda for the Office of Finance, continuing the guidance we’ve offered since 2003 on the practical use of technology for the finance and accounting department.
Robotic Process Automation (RPA) has emerged as a core digital technology for finance and accounting organizations. It can drive significant gains in productivity and efficiency by automating mechanical, repetitive accounting processes in a continuou
Irked by the need to account for every penny of his college expenses, poet Robert Frost penned the lines:
The challenges of the pandemic prevented auditors from visiting client offices, which led to widespread adoption of remote audit processes.
Organizations have long sought ways to achieve a fast but “clean” (accurate) financial close. The most widely accepted benchmark is to be able to close within one business week.
IBM Planning Analytics, formerly known as TM1, is a comprehensive planning and analytics application designed to integrate and streamline an organization’s planning processes. It can support multiple planning use cases on a single platform, including
Ventana Research defines intercompany financial management (IFM) as a discipline for structuring and handling transactions within a corporation and between its legal entities that is designed to maximize staff efficiency and accounting accuracy while
Small business owners are fortunate to have a choice of feature-rich, flexible, and affordable entry-level accounting packages. Eventually, though, successful businesses grow and will often find that the very accounting software that once made things
The ERP system is at the core of nearly every organization’s record keeping and business process management. Its smooth and uninterrupted functioning is essential to an organization’s accounting and finance functions.
FourQ is an intercompany financial management (IFM) Solution-as-a-Service provider. IFM is a discipline for structuring and handling transactions within a corporation and between its legal entities, and is designed to maximize staff efficiency and ac
Ventana Research defines intercompany financial management (IFM) as a discipline for structuring and handling transactions within a corporation and between its legal entities that is designed to maximize staff efficiency and accounting accuracy while
Financial consolidation software assists companies in executing their accounting close process - especially those that use multiple ERP systems or have multiple legal entities - and with other characteristics that can complicate the process such as k
Unit4’s Financial Planning and Analysis (formerly Prevero) is a planning and budgeting application designed for the requirements of midsize corporations and the public sector.
The objectives of zero-based budgeting are well aligned with what I call integrated business planning, a technology-enabled approach to managing the forward-looking activities of a corporation including forecasting, planning and budgeting.
Ventana Research defines intercompany financial management as a discipline for structuring and handling transactions within a corporation and between its legal entities.
Corporations continually confront profitability issues and opportunities caused by competitors’ actions, shifts in demand, as well as changes in commodity prices and other factor costs.
Business process reengineering (BPR) was a consulting fashion in the early 1990s that spurred many companies to purchase their first ERP systems. BPR proposes a fundamental redesign of core business processes to achieve substantial improvements in ma
Business continuity is the ability of an organization to maintain normal operations without compromise, regardless of external conditions. Because they provide emergency and other critical services, government organizations must be able to maintain b
A business crisis alerts finance leaders to their organization’s vulnerabilities. When lockdowns prevented people from being in their offices in 2020, organizations with the right technology and processes demonstrated their ability to adapt, overcome
Darwin never claimed that evolutionary success came down to survival of the fittest. To the contrary, he stated, “it is not the strongest that survives; but…the one that is able best to adapt and adjust to the changing environment in which it finds i
These days it strikes me that the motto of successful salespeople – "ABC: Always Be Closing!" – should apply equally to corporate controllers, albeit in the accounting sense.
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