Our recently published Office of Finance benchmark research assesses a broad set of functions and capabilities of finance organizations. We asked research participants to identify the most important issues for a finance department to address in a dozen functional areas: accounting, budgeting, cost accounting, customer profitability management, external financial reporting, financial analysis, financial governance and internal audit, management accounting, product profitability management, strategic and long-range planning, tax management and treasury and cash management. Among the key findings is this: Not using the most capable software is an underlying cause, often unrecognized, of process, analytics and data issues.
Topics: Analytics, Budgeting, Business Intelligence, Business Performance, CFO, close, closing, Collaboration, computing, Controller, dashboard, Data, ERP, finance, Financial Performance, Financial Performance Management, FP&A, FPM, Microsoft Excel, Mobile, Planning, Predictive Analytics, Reporting, Self-service, Spreadsheets, Tax, Office of Finance, Cloud Computing
Our recent Office of Finance benchmark research demonstrates the importance of using automation to execute finance department functions. Information technology systems do at least two things very well that make better use of people’s time, and both of them can substantially improve organizational performance. First, they eliminate the need for people to do repetitive tasks, which frees them to spend time on more valuable work that requires judgment and skill. IT systems also can be programmed to focus only on relevant information while eliminating the need to get immersed in detail. The latter capability supports a “management by exception” approach, which enables executives and managers to better allocate how and where they spend their time.
Topics: Analytics, Big Data, Budgeting, Business Analytics, Business Collaboration, Business Intelligence, Business Performance, CFO, close, closing, Collaboration, computing, Controller, dashboard, Data, ERP, finance, Financial Performance, Financial Performance Management, FP&A, FPM, Microsoft Excel, Mobile, Planning, Reporting, Self-service, Spreadsheets, Tax, Office of Finance, Cloud Computing
ManyWho was launched in May 2013 by two former Salesforce.com executives, Dave Norris and Steve Wood. They branded it the Cloud Workflow Company, It offers an innovative approach that allows organizations to create workflows, automatically convert them into business applications and run the apps on multiple types of devices. The key to its success lies in the second and third steps, which differentiate ManyWho from most other business process optimization vendors; the process maps that users produce are not static representations of how business processes should work but instead become apps that monitor what is happening and enable the next step in completing the process.
When Salesforce.com began in 1999 its stated intent was “to reinvent CRM in the cloud.” In 15 years, the company has achieved much more than that, having a major impact on the way IT systems are delivered: Large numbers of vendors have followed its example to provide cloud-based systems. It added a platform as a cloud – a software development environment in the cloud – to its portfolio, introduced an apps store where many vendors sell their products and services, moved into social and mobile computing, and expanded CRM in the cloud to marketing, sales and service clouds. And it continues to innovate in the fast-changing business software market.
Topics: Analytics, Big Data, Business Collaboration, Call Center, Cloud Computing, Contact Center, Contact Center Analytics, CRM, Customer Analytics, Customer & Contact Center, Customer Feedback Management, Customer Service, Operational Performance, Self-service, Social Media, Speech Analytics, Text Analytics, Customer Experience
During this year talk has been widespread about the customer experience, which is good. What is not so good is that, according to my benchmark research into next-generation customer engagement, most companies still struggle to deliver satisfying experiences. However, the research and my discussions with users and vendors lead to some clear conclusions:
Topics: Analytics, Big Data, Call Center, Cloud Computing, Contact Center, Contact Center Analytics, CRM, Customer Analytics, Customer & Contact Center, Customer Feedback Management, Customer Service, Self-service, Social Media, Speech Analytics, Text Analytics, Customer Experience