Most organizations are in a constant state of motion, and their financial operations reflect that. Businesses are constantly changing, and the most successful companies are those with finance teams that can respond quickly to change and seize new opportunities.
Finance teams need trusted, integrated data from every part of the organization to manage continuous change and make the best planning decisions with real-time agility.
However, many finance organizations are held back by inefficient, siled legacy technologies and processes. These fragmented systems can leave useful data locked, delay analysis of integration results, and limit team agility. Traditional tools cannot handle the complexity of financial integration or quickly adapt to changing requirements.
For these reasons, many finance teams spend more time collecting, harmonizing, and reconciling data rather than analyzing it and serving as the true business partners their organizations need. This difficult-to-use technology can leave your team frustrated, have limited insight, and miss out on growth opportunities.
But by upgrading to an agile self-service platform, finance teams can consolidate data, automate data management, and make necessary changes in real-time using easy-to-customize applications.
By using common datasets across the organization, finance departments can collaborate, report, and plan more accurately and efficiently. This allows large companies to adapt to changing conditions, make better decisions, and achieve better business results.
High cost of legacy processes
Without agile tools for planning and integration, finance teams risk falling behind. And the majority of organizations are missing out on the benefits that finance has to offer. Consider:
• According to Deloitte Insights, 73% of finance teams manually edit company data or perform forecasting and scenario planning offline.
• According to Accenture, 76% of CFOs say their organizations struggle to plan without one unified source of truth across business units.
• According to a Workday study, 50% of CFOs say they make financial decisions based on intuition because data is siled or not readily available.
An agile, purpose-built planning and integration platform helps finance teams streamline financial reporting and enterprise-wide planning. This technology ensures more accurate and efficient financial closing and planning cycles with a more reliable data foundation and automated data management.
Additionally, the tool’s intuitive low-code/no-code user experience enables self-service reporting, data exploration, collaboration, and agility, allowing finance team members to take time-consuming steps that involve IT resources. You can easily create queries and surface insights without having to do anything.
400% more time spent on strategy
A modern integrated planning and integration platform allows finance teams to easily integrate data from multiple sources. Easily collaborate across teams. Drive budgets, forecasts, and plans across your organization.
For these teams, data integration and delivery of self-service, automated legal and administrative reporting is streamlined, freeing up time to create, analyze and compare virtually unlimited scenarios to better prepare for the future. You can prepare for it.
After a company migrates from legacy systems to a unified, accessible data platform, its finance team is no longer using siled legacy technologies to manually collect data for forecasting and scenario planning. reported a 400% increase in time available for strategic work compared to the system. .
Integrated collaborative tools eliminate the need to manage disparate technologies and platforms to drive results, and enable employees across your organization to seamlessly report, plan, and get results. Moving to a single platform that is easy to use and less prone to data errors saves time, provides a unified source of truth for all teams, and eliminates conflicting reports and issues before tackling cross-functional projects. Eliminates the inefficiency of coordinating data.
The self-service quality of these tools allows financial professionals to engage in traditional offline “shadow planning” processes that do not require technical assistance and must be managed on distributed, insecure spreadsheets. Easily develop and analyze planning scenarios tailored to your organization and market conditions without having to do anything. Own.
Because they are cloud-based tools, they are continually updated with the latest innovations, making them powerful artificial intelligence and machine learning tools for making predictions based on models that incorporate broader datasets from outside your organization. You can access it.
get clear vision
“The digital financial disruption that influenced the way we think about financial trends several years ago is accelerating, and all signs suggest it will continue to do so,” said Deloitte’s Director of Digital Financial Transformation. Director Ameet Bhojwani said. “Finance needs to stay agile, integrate with other departments, and know what drives the business. Otherwise, CEOs will look elsewhere for advice.”
To respond to rapid change, businesses need a clear view of costs and resources and the ability to analyze scenarios to support timely decision-making.
An organization’s once-reliable legacy enterprise performance management platform can no longer keep up with the pace of the business. These platforms are often too siled, inflexible, and too difficult to customize to changing planning situations.
A unified, accessible self-service platform gives finance teams the benefit of a unified single source of truth. Higher quality data. Customizable automated tools for planning and analysis. And that translates into increased productivity, lower costs, and better, faster decision-making for finance teams that support the entire organization.