Tagetik provides financial performance management software. One particularly useful aspect of its suite is the Collaborative Disclosure Management (CDM). CDM addresses an important need in finance departments, which routinely generate highly formatted documents that combine words and numbers. Often these documents are assembled by contributors outside of the finance department; human resources, facilities, legal and corporate groups are the most common. The data used in these reports almost always come from multiple sources – not just enterprise systems such as ERP and financial consolidation software but also individual spreadsheets and databases that collect and store nonfinancial data (such as information about leased facilities, executive compensation, fixed assets, acquisitions and corporate actions). Until recently, these reports were almost always cobbled together manually – a painstaking process made even more time-consuming by the need to double-check the documents for accuracy and consistency. The adoption of a more automated approach was driven by the requirement imposed several years ago by United States Securities and Exchange Commission (SEC) that companies tag their required periodic disclosure filings using eXtensible Business Reporting Language (XBRL), which I have written about. This mandate created a tipping point in the workload, making the manual approach infeasible for a large number of companies and motivating them to adopt tools to automate the process. Although disclosure filings were the initial impetus to acquire collaborative disclosure management software, companies have found it useful for generating a range of formatted periodic reports that combine text and data, including board books (internal documents for senior executives and members of the board of directors), highly formatted periodic internal reports and filings with nonfinancial regulators or lien holders.
Topics: Mobile, ERP, forecasting, Modeling, Reporting, Budgeting, close, closing, Consolidation, Controller, Finance Financial Applications Financial Close, IFRS, multinational Tagetik, process management, report, strategy, XBRL, Analytics, Business Analytics, Business Intelligence, Business Performance, Financial Performance, Governance, Risk & Compliance (GRC), Accounting, CFO, Chief Financial Officer, compliance, Data, benchmark, Financial Performance Management, financial reporting, FPM, GAAP, Integrated Business Planning, Profitability, SEC Software, spreadsheet
Host Analytics has introduced AirliftXL, a new feature of its cloud-based financial performance management (FPM) suite that enables its software to translate users’ spreadsheets into the Host Analytics format. I find it significant in three respects. First, it can substantially reduce the time and resources it takes for a company to go live in adopting the Host Analytics suite, lowering the cost of implementation and accelerating time to value. Second, it enables Host Analytics users who have the appropriate permissions to create and modify models and templates that they use in planning, budgeting, consolidation and reporting. This can enhance the value of the system by making it easier to maintain. Third, it can make it far easier to routinely collect and connect planning and analytical models used by all departments and business users as it has outlined in its planning cloud offering. Although it has limitations in its initial release, AirliftXL gives corporations a workable alternative to stand-alone spreadsheets and has the potential to substantially increase productivity and effectiveness of an organization in the full range of budgeting, planning, consolidation and reporting functions.
Topics: Modeling, Reporting, closing, Consolidation, Controller, Host Analytics, Operational Performance, Business Analytics, Business Performance, Cloud Computing, Financial Performance, Workforce Performance, Accounting, CFO, Allocations, Financial Performance Management, FPM, spreadsheet
Oracle continues to enrich the capabilities of its Hyperion suite of applications that support the finance function, but I wonder if that will be enough to sustain its market share and new generation of expectations. At the recent Oracle OpenWorld these new features were on display, and spokespeople described how the company will be transitioning its software to cloud deployment. Our 2013 Financial Performance Management Value (FPM) Index rates Oracle Hyperion a Warm vendor in my analysis, ranking eighth out of nine vendors. Our Value Index is informed by more than a decade of analysis of technology suppliers and their products and how well they satisfy specific business and IT needs. We perform a detailed evaluation of product functionality and suitability-to-task as well as the effectiveness of vendor support for the buying process and customer assurance. Our assessment reflects two disparate sets of factors. On one hand, the Hyperion FPM suite offers a broad set of software that automates, streamlines and supports a range of finance department functions. It includes sophisticated analytical applications. Used to full effect, Hyperion can eliminate many manual steps and speed execution of routine work. It also can enhance accuracy, ensure tasks are completed on a timely basis, foster coordination between Finance and the rest of the organization and generate insights into corporate performance. For this, the software gets high marks.
Topics: Mobile, Planning, Social Media, ERP, forecasting, Modeling, Reporting, Budgeting, close, closing, Consolidation, Controller, driver-based, Finance Financial Applications Financial Close, Hyperion, IFRS, multinational Oracle, process management, report, strategy, Tax, tax department, tax optimization, tax planning, XBRL, Analytics, Business Analytics, Business Intelligence, Business Performance, CIO, Cloud Computing, Financial Performance, In-memory, Oracle, Accounting, CFO, Chief Financial Officer, compliance, Data, benchmark, Financial Performance Management, financial reporting, FPM, GAAP, Integrated Business Planning, Price optimization, Profitability, SEC Software, spreadsheet
Anaplan’s software is designed to help organizations across finance, sales and operations improve accuracy, timeliness and collaboration in their business analytics and planning. I recently attended the company’s first user conference, Hub 2013, in San Francisco, which featured customer success stories and latest on product information. Anaplan has built its business on the subtleties of modeling and planning that are shared between sales, operations and finance departments, and it enables them to apply analytics to projections in revenue, sales, forecasting, territory planning, commissions, quotas and profitability – areas that are intertwined through many business processes. Anaplan’s team has more than decades of experience in the analytics and planning software markets that has led to its devised cloud-based, in-memory computing software.
Topics: Planning, Sales Performance, Supply Chain Performance, Anaplan, FP&A, Modeling, Operational Performance, Analytics, Business Analytics, Business Intelligence, Business Performance, Cloud Computing, Customer & Contact Center, Financial Performance, Workforce Performance, CFO, finance, Sales Planning
For the past several years Ventana Research has focused more on analytics and their importance to improving business performance. We’ve done extensive benchmark research in business analytics, detailing how they are used generally in business and in major functional areas of companies as well as their application in specific industries. We adopted this focus because technology advances are changing the landscape of analytics. Its use in business management, for example, is getting new scrutiny these days because of three important changes in information technology.
Topics: Big Data, Performance Management, Planning, Sales Performance, Supply Chain Performance, Modeling, performance indicators, Budgeting, driver-based, ratio analysis, Operational Performance, Analytics, Business Analytics, Business Performance, Customer & Contact Center, Financial Performance, In-memory, Workforce Performance, Applications, best pracices, business value, cash flow, challenge, financial planning, spreadsheet