Ventana Research Analyst Perspectives

Workday Advances Technology Roadmap for Finance

Posted by Robert Kugel on May 21, 2018 6:38:56 AM

Workday recently presented a technology summit for industry analysts. The presentations focused on Workday’s ongoing product advancements as well as its approach to employing emerging technologies. These technologies include artificial intelligence (AI) and machine learning (ML), robotic process automation (RPA) and bots utilizing natural language processing. Ventana Research uses the term robotic finance to refer to these technologies when used in the office of finance. In our view, they will have a profound impact on the nature of white-collar work over the coming decade. Financial management and ERP software vendors are focusing on these technologies because they will disproportionately affect finance and accounting departments: I estimate that their adoption has the potential to eliminate one-third of the accounting department’s workload within a decade.

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Topics: Big Data, data science, Mobile, Machine Learning, Office of Finance, Continuous Planning, Cloud Computing, Collaboration, Financial Performance Management, ERP and Continuous Accounting

GDPR: Business or Technology Vendors Ready or Not?

Posted by Mark Smith on May 11, 2018 8:37:05 AM

We are have arrived at the May 25, 2018 date when the European Union’s General Data Privacy Regulations (GDPR) become enforceable, following what has been a two-year transition period. Companies were given this time to put in place reasonable measures and the systems necessary to support the legislation’s wide-ranging personal data privacy requirements, which apply to any organization with more than 250 employees that serves EU citizens. While this regulation will apply in the EU, it has implications for any organization in the world that provides services involving the personal data of any EU citizen.

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Topics: Big Data, data science, Mobile, Customer Analytics, Customer Engagement, Customer Experience, Marketing, Analytics, Business Intelligence, Cloud Computing, Collaboration, Data Governance, Data Integration, Data Preparation, Internet of Things, Contact Center, digital technology, Digital Marketing, Digital Commerce, Cybersecurity, Billing and Recurring Revenue, collaboration for business, mobile marketing

Beyond Digital Transformation: Effective Technology Innovation in 2018

Posted by Mark Smith on May 7, 2018 12:56:06 AM

Advancing the potential of any business requires continuous improvement in the processes and technology that support it. Many companies have embraced attempts at a digital transformation, and it’s become a goal to which organizational resources and budgets have been dedicated around the globe.

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Topics: Big Data, data science, Mobile, Sales, Customer Analytics, Customer Engagement, Customer Experience, Human Capital Management, Machine Learning, Marketing, Marketing Performance Management, Mobile Technology, Office of Finance, Wearable Computing, Analytics, Business Intelligence, Cloud Computing, Collaboration, Customer Service, Data Governance, Data Integration, Data Preparation, Internet of Things, Contact Center, Information Optimization, Product Information Management, digital technology, Digital Marketing, Digital Commerce, Operations & Supply Chain, Machine Learning and Cognitive Computing, Pricing and Promotion Management, Cybersecurity, Billing and Recurring Revenue, Workforce Optimization, collaboration for business, mobile marketing

OneStream Delivers Financial Performance Management

Posted by Robert Kugel on May 4, 2018 9:34:17 AM

OneStream XF from OneStream Software is a financial performance management (FPM) platform available on-premises or in the cloud. The company is a relative newcomer (it started in 2010) but its founders are industry veterans and it has a long list of referenceable customers. Being self-financed, it only recently began to raise its market profile. Its SmartCPM system consists of software for statutory financial consolidation, planning, forecasting, budgeting and reporting that’s used primarily by midsize and larger corporations, including large multinationals with complex ownership structures. Designed as a platform, OneStream XF fits into the company’s strategy to offer an array of financial applications developed by itself or third-parties that use a single authoritative source of data.

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Topics: Office of Finance, Continuous Planning, Analytics, HRMS, Financial Performance Management, ERP and Continuous Accounting, Sales Planning and Analytics

Oracle’s Modern Finance Experience is Robotic

Posted by Robert Kugel on May 2, 2018 7:41:37 AM

After more than a decade of steady development, ERP systems today are changing fundamentally, facilitated by the availability of advances such as cloud computing, advanced database architecture, collaboration, improved user-interface design, mobility, analytics and planning. This was evident when Oracle recently held its third analysts-only ERP Cloud Summit in New York to coincide with its Modern Finance Experience event. Oracle now has an increasingly robust set of business applications that reside in the cloud and a growing list of live customers – large and midsize – from a range of industries across the world, both of which were offered as part of the here-and-now technology theme at the event.

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Topics: ERP, Machine Learning, Cloud Computing, Robotic Process Automation, Artificial intelligence, blockchain, AI