Ventana Research Analyst Perspectives

Self-Describing Data Powers B2B Blockchain Distributed Ledgers

Posted by Robert Kugel on Feb 15, 2018 7:22:37 AM

The use of blockchain distributed ledgers in business processes is now a common theme in many business software vendors’ presentations. The technology has a multitude of potential uses. However, presentations about the opportunities for digital transformation always leave me wondering: How is this magic going to happen? I wonder this because the details about how data flows from point A to point B via a blockchain are critically important to blockchain utility and therefore the pace of its adoption.

Read More

Topics: Planning, Predictive Analytics, Forecast, FP&A, Machine Learning, Reporting, budget, Budgeting, Continuous Planning, Analytics, Data Management, Cognitive Computing, Integrated Business Planning, AI, forecasting, consolidating

Predictive Finance Organizations Are More Valuable

Posted by Robert Kugel on Feb 12, 2018 4:31:44 AM

Ventana Research uses the term “predictive finance” to describe a forward-looking, action-oriented finance organization that places emphasis on advising its company rather than fulfilling the traditional roles of a transactions processor and reporter. Technology is driving the shift away from the traditional bean-counting role. The cumulative evolution of software advances will substantially reduce finance and accounting workloads by automating most of the mechanical, rote functions in accounting, data preparation and reporting. (I recently summarized these in a “Robotic Finance”)

Read More

Topics: Planning, Predictive Analytics, Forecast, FP&A, Machine Learning, Reporting, budget, Budgeting, Continuous Planning, Analytics, Data Management, Cognitive Computing, Integrated Business Planning, AI

Welcome to the Age of Robotic Finance

Posted by Robert Kugel on Dec 29, 2017 5:24:36 AM

For several years, I’ve commented on a range of emerging technologies that will have a profound impact on white-collar work in the coming decade. I’ve now coined the term “Robotic finance” to describe this emerging focus, which includes four key areas of technology: Artificial intelligence (AI) and machine learning (ML), robotic process automation (RPA), bots utilizing natural language processing, and blockchain distributed ledger technology (DLT), each of which I describe below. Robotic finance will have a disproportionate impact on finance and accounting departments: I estimate that adoption of these technologies potentially will eliminate one-third of the accounting department’s workload within a decade.

Read More

Topics: ERP, Machine Learning, close, Consolidation, Continuous Accounting, Reconciliation, CFO, Robotic Process Automation, blockchain, AI, natural language processing, Accounting, RPA, bots, voice automation

Artificial Intelligence and Machine Learning in Business Applications

Posted by Robert Kugel on Oct 26, 2017 7:18:51 AM

The application of artificial intelligence (AI) and machine learning (ML) to business computing will have a profound impact on white collar professions. This is especially true in heavily rules-based functions such as accounting. Companies recognize the transformational potential of AI and ML, but the progression and pace of the adoption of these technologies is unclear. Some applications of AI and ML are already in use but others are a decade or more away from replacing human tasks.

Read More

Topics: Big Data, Machine Learning, Office of Finance, Analytics, CFO, finance, CEO, AI, accountants, NLP, Accounting

SAP Leonardo for Finance: When AI Ain’t Enough

Posted by Robert Kugel on Oct 1, 2017 10:20:36 AM

Fra Luca Pacioli, a 15th-century Franciscan friar living in what’s now Italy, is credited with codifying double-entry bookkeeping, which is the foundation of accounting. Pacioli, a polymath, was well acquainted with his contemporary and fellow polymath Leonardo Da Vinci. So, given they were at times collaborators, it’s fitting that one of the most important applications of SAP’s Leonardo technology will be in helping to disrupt finance and accounting organizations in corporations.

Read More

Topics: ERP, Machine Learning, Office of Finance, Internet of Things, CFO, Artificial intelligence, AI, Leonardo