Ventana Research Analyst Perspectives

Country-by-Country Reporting Challenges Tax Departments

Posted by Robert Kugel on Nov 6, 2017 11:13:58 PM

In 2013, the Organization for Economic Cooperation and Development (OECD) published a report titled “Action Plan on Base Erosion and Profit Shifting” (commonly referred to as “BEPS”), which describes the challenges national governments face in enforcing taxation in an increasingly global environment with a growing share of digital commerce. Country-by-country (CbC) Reporting has developed in response to the concerns raised in the report. To date, 65 countries (including all members of the European Union but not the United States) are signatories of the multilateral competent authority agreement establishing CbC reporting.

Read More

Topics: audit, BEPS, Business Analytics, CFO, ERP, finance transformation, FPM, GRC, LongView, Oracle, Tax, tax department, tax planning, Vertex

Unit4 Prevero Provides a Practical Alternative to Spreadsheets

Posted by Robert Kugel on Sep 22, 2017 8:15:14 AM

In 2016 Unit4 acquired Prevero, a financial performance management software company. The acquisition reflects a trend toward the convergence of transactional and analytical business applications. ERP and financial management software vendors increasingly are adding analytic capabilities – especially in financial performance management (FPM) – to the core functions of transaction processing and accounting in order to broaden the scope of their offerings. The integration of transaction processing and analytical software is especially valuable to Unit4’s core customer base of midsize organizations, which we define as those with 100 to 1,000 employees. Midsize entities have almost the same systems requirements as larger ones but lack the resources the latter enjoy.

Read More

Topics: Analytics, Business Intelligence, Cloud Computing, Collaboration, Workforce Management, Marketing, Office of Finance, Continuous Planning, Financial Performance Management, FPM, Operations & Supply Chain, Work and Resource Management, Sales Planning and Analytics

Financial Performance Management Software Vendors Face Challenges

Posted by Robert Kugel on Jan 13, 2017 12:05:24 AM

Ventana Research defines financial performance management (FPM) as the process of addressing often overlapping issues involving people, process, information and technology that affect how well finance organizations operate and support the activities of the rest of their organization. FPM software supports and automates the full cycle of finance department activities, which include planning and budgeting, analysis, assessment and review, closing and consolidation, internal financial reporting and external financial reporting, as well as the underlying information technology systems that support them.

Read More

Topics: Consolidation, ERP, Financial Performance Management, FP&A, FPM, Performance Management, Office of Finance, Human Capital Management

Workday Planning Improves Control and Visibility

Posted by Robert Kugel on Nov 21, 2016 8:58:42 AM

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.

Read More

Topics: Budgeting, CFO, Controller, Financial Performance Management, financial reporting, FPM, In-memory, Integrated Business Planning, Marketing, Workday, Office of Finance, Big Data, demand management

The Office of Finance in 2016

Posted by Robert Kugel on Feb 14, 2016 11:24:47 AM

The imperative to transform the finance department to function in a more strategic, forward-looking and action-oriented fashion has been a consistent theme of practitioners, consultants and business journalists for two decades. In all that time, however, most finance and accounting departments have not changed much. In our benchmark research on the Office of Finance, nine out of 10 participants said that it’s important or very important for finance departments to take a strategic role in running their company. The research also shows a significant gap between this objective and how well most departments perform. A large majority (83%) said they perform the core finance functions of accounting, fiscal control, transaction management, financial reporting and internal auditing, but only 41 percent said they play an active role in their company’s management. Even fewer (25%) have implemented a high degree of automation in their core finance functions and actively promote process and analytical excellence.

Read More

Topics: Analytics, Big Data, Budgeting, Business Analytics, Business Collaboration, Business Performance, CEO, CFO, CIO, close, Cloud Computing, Continuous Accounting, Continuous Planning, CPQ, end-to-end, Financial Performance, Financial Performance Management, FPM, Governance, GRC, Human Capital, In-memory, Mobile Technology, Planning, Predictive Analytics, Risk, Social Media, Tax, Tax-Datawarehouse, Uncategorized, Office of Finance