Ventana Research recently awarded Workday a 2016 Technology Innovation Award for its newly released application, Workday Planning, because it simplifies and streamlines the budgeting and planning processes while facilitating collaboration, deepening visibility into spending and enabling tight fiscal control. These capabilities can help a variety of user organizations in several ways.
Topics: Budgeting, CFO, Controller, Financial Performance Management, financial reporting, FPM, In-memory, Integrated Business Planning, Marketing, Workday, Office of Finance, Big Data, demand management
Ventana Research recently released the results of our Next-Generation Business Planning benchmark research. Business planning encompasses all of the forward-looking activities in which companies routinely engage. The research examined 11 of the most common types of enterprise planning: capital, demand, marketing, project, sales and operations, strategic, supply chain and workforce planning, as well as sales forecasting and corporate and IT budgeting. We also aggregated the results to draw general conclusions.
Topics: Big Data, Budgeting, Business Analytics, Business Performance, capital spending, CFO, Cloud Computing, Controller, Customer Performance, Financial Performance, Financial Performance Management, financial reporting, FPM, In-memory, Integrated Business Planning, Marketing, Operational Performance, Planning, Predictive Analytics, Reporting, Sales, Sales Performance, Social Media, S&OP, Supply Chain, Supply Chain Performance, Workforce Performance, Human Capital Management, Office of Finance, demand management
A core objective of my research practice and agenda is to help the Office of Finance improve its performance by better utilizing information technology. As we kick off 2014, I see five initiatives that CFOs and controllers should adopt to improve their execution of core finance functions and free up time to concentrate on increasing their department’s strategic value. Finance organizations – especially those that need to improve performance – usually find it difficult to find the resources to invest in increasing their strategic value. However, any of the first three initiatives mentioned below will enable them to operate more efficiently as well as improve performance. These initiatives have been central to my focus for the past decade. The final two are relatively new and reflect the evolution of technology to enable finance departments to deliver better results. Every finance organization should adopt at least one of these five as a priority this year.
Topics: Analytics, Big Data, Budgeting, Business Analytics, Business Collaboration, Business Performance, CEO, CFO, CIO, close, Customer & Contact Center, dashboard, demand management, Financial Performance, Financial Performance Management, FPM, In-memory, Performance Management, Planning, Predictive Analytics, PRO, Sales Performance, S&OP, Supply Chain, Supply Chain Performance, Tax, Office of Finance
People who don’t spend much time analyzing the software market may have trouble understanding the differences between products in a given software category or the difference between two categories. This happens because vendors and commentators use the same words to describe different depths of functionality and degrees of comprehensiveness in one type of application. As well, there can be multiple categories of software that address the same general business issues but are designed for different specific uses. Not only is it worth the effort to sort through the labels and understand what does what best, but different categories of software that are sold and deployed separately can provide even greater value when used together.
Topics: Business Analytics, Business Performance, CEO, CFO, dashboard, demand management, Financial Performance, FPM, Operational Performance, Performance Management, PRO, Sales Performance, S&OP, Supply Chain, Supply Chain Performance, Office of Finance
I recently attended Kinaxis’ users’ group meeting and learned some interesting things. The company, which has been around since 1995, provides software for large corporations with complex supply chains. Over the past decade its product has evolved well past its roots as a material requirements planning (MRP) support tool. It is now an analytics suite that facilitates supply and demand planning, analysis and optimization with a focus on sales and operations planning (S&OP). This is a discipline that is much talked about but less well practiced, done effectively by only a handful of very large companies (Cisco, for example) and smaller ones that have defined their functional strategy around S&OP and logistics management. In our S&OP benchmark research, we assessed the degree to which companies have a broad cross-functional representation in the process (a critical aspect of an effective S&OP effort) by asking which parts of the business were involved. When it comes to five of the most important ones – executive management, manufacturing, operations, sales and finance – our research showed that only 21 percent of companies have four or five participating, while 45 percent of companies have none or just one.
Topics: Budgeting, Business Analytics, Business Collaboration, Business Performance, Cloud Computing, Financial Performance, Integrated Business Planning, Kinaxis, Operational Performance, Planning, Sales Performance, S&OP, Supply Chain, Supply Chain Performance, Sales, Office of Finance, demand management