Ventana Research Analyst Perspectives

Office of Finance Research Demonstrates Importance of Using Effective Financial Software

Posted by Ventana Research on Feb 2, 2015 8:27:14 AM

Our recently published Office of Finance benchmark research assesses a broad set of functions and capabilities of finance organizations. We asked research participants to identify the most important issues for a finance department to address in a dozen functional areas: accounting, budgeting, cost accounting, customer profitability management, external financial reporting, financial analysis, financial governance and internal audit, management accounting, product profitability management, strategic and long-range planning, tax management and treasury and cash management. Among the key findings is this: Not using the most capable software is an underlying cause, often unrecognized, of process, analytics and data issues.

Read More

Topics: Mobile, Planning, Predictive Analytics, ERP, FP&A, Reporting, Self-service, Budgeting, close, closing, computing, Controller, dashboard, planning and budgeting, report, Tax, Analytics, Business Intelligence, Business Performance, Cloud, Collaboration, Financial Performance, Accounting, CFO, Data, finance, BI, Financial Performance Management, FPM, Microsoft Excel, scorecard, Spreadsheets, treasury

Make Automating the Office of Finance and Accounting a Priority

Posted by Ventana Research on Jan 27, 2015 7:49:48 AM

Our recent Office of Finance benchmark research demonstrates the importance of using automation to execute finance department functions. Information technology systems do at least two things very well that make better use of people’s time, and both of them can substantially improve organizational performance. First, they eliminate the need for people to do repetitive tasks, which frees them to spend time on more valuable work that requires judgment and skill. IT systems also can be programmed to focus only on relevant information while eliminating the need to get immersed in detail. The latter capability supports a “management by exception” approach, which enables executives and managers to better allocate how and where they spend their time.

Read More

Topics: Big Data, Mobile, Planning, ERP, FP&A, Reporting, Self-service, Budgeting, close, closing, computing, Controller, dashboard, planning and budgeting, reconciliations, report, Tax, Analytics, Business Analytics, Business Collaboration, Business Intelligence, Business Performance, Cloud, Collaboration, Financial Performance, Accounting, CFO, Data, finance, BI, Financial Performance Management, FPM, Microsoft Excel, scorecard, Spreadsheets, treasury

Finance Needs Better Analytics and Analytic Skills

Posted by Ventana Research on Oct 13, 2014 11:58:09 PM

Finance and accounting departments are staffed with numbers-oriented, naturally analytical people. Strong analytic skills are essential if a finance department is to deliver deep insights into performance and visibility into emerging opportunities and challenges. The conclusions of analyses enable fast, fully informed business decisions by executives and managers. Conversely, flawed analyses undermine the performance of a company. So it was good news that in our Office of Finance benchmark research 62 percent of participants rated the analytical skills of their finance organization as above average or excellent.

Read More

Topics: Big Data, Mobile, Planning, Predictive Analytics, ERP, FP&A, Reporting, Self-service, BizNet Software, Budgeting, close, closing, computing, Controller, dashboard, planning and budgeting, report, Tax, Analytics, Business Analytics, Business Intelligence, Business Performance, Cloud, Cloud Computing, Collaboration, Financial Performance, Accounting, CFO, Data, finance, Tagetik, BI, Financial Performance Management, FPM, Microsoft Excel, scorecard, Spreadsheets, treasury

Businesses Must Make Self-Service Reporting a Priority

Posted by Robert Kugel on Aug 3, 2014 9:12:23 AM

One of the charitable causes to which I devote time puts on an annual vintage car show. The Concours d’Élegance dates back to 17th century France, when wealthy aristocrats gathered with judges on a field to determine who had the best carriages and the most beautiful horsepower. Our event serves as the centerpiece of a broader mission to raise money for several charitable organizations. One of my roles is to keep track of the cars entered in the show, and in that capacity I designed an online registration system. I’ve been struck by how my experiences with a simple IT system have been a microcosm of the issues that people encounter in designing, administering and using far more sophisticated  ones. My most important take-away from this year’s event is the importance of self-service reporting. I suspect that most senior corporate executives – especially those in Finance – fail to appreciate the value of self-service reporting. It frees up the considerable resources organizations collectively waste on unproductive work, and it increases responsiveness and agility of the company as a whole.

Read More

Topics: Planning, Sales Performance, Supply Chain Performance, Reporting, Self-service, BizNet Software, Budgeting, dashboard, report, Operational Performance, Analytics, Business Analytics, Business Intelligence, Business Performance, Customer & Contact Center, Financial Performance, Information Applications, Workforce Performance, Data, BI, Financial Performance Management, Microsoft Excel, scorecard, Spreadsheets

Microsoft: Big Data Analytics and Mobile Challenges

Posted by Ventana Research on May 12, 2013 10:06:59 PM

Microsoft has been steadily pouring money into big data and business intelligence. The company of course owns the most widely used analytical tool in the world, Microsoft Excel, which our benchmark research into Spreadsheets in the Enterprise shows is not going away soon. User resistance (cited by 56% of participants) and lack of a business case (50%) are the most common reasons that spreadsheets are not being replaced in the enterprise.  The challenge is ensuring the spreadsheets are not just personally used but connected and secured into the enterprise for a range of consistency and potential errors that all add up to more work and maintenance as my colleague has pointed out recently.

Read More

Topics: Big Data, Microsoft, Tableau, IT Performance, Microsoft Office, Microsoft Powerpoint, Operational Performance, powerpivot, powerview, Business Analytics, Business Intelligence, Business Performance, CIO, Cloud Computing, Customer & Contact Center, Financial Performance, Hortonworks, Information Applications, Location Intelligence, Microsoft Excel, azure, HDinsights