The steady march of technology’s ability to handle ever more complicated tasks has been a constant since the beginning of the information age in the 1950s. Initially, computers in business were used to automate simple clerical functions, but as systems have become more capable, information technology has been able to substitute for increasingly higher levels of human skill and experience. A turning point of sorts was reached in the 1990s when ERP, business intelligence and business process automation software reduced the need for middle managers. Increasingly, organizations used software to coordinate activities as well as communicate results and requirements up and down the organizational chart. Both were once the exclusive role of the middle manager. Consequently, almost every for-profit organization eliminated management layers so that today corporate structures are flatter than they once were. Technology automation also eliminated the need for administrative staff to perform routine reporting and analysis. Meanwhile, over the course of the 1990s, the cost of running the finance department measured as a percentage of sales was cut almost in half as a result of eliminating staff and because automation enabled companies to scale without adding headcount. During the last recession, companies in North America and Europe once again made deep reductions to their administrative staffs, relying on information technology to pick up the slack.
Topics: Analytics, audit, Business Analytics, Business Performance, CFO, ERP, finance transformation, Financial Performance, FPM, Governance, GRC, Human Capital, Innovation Awards, LongView, Oracle, Risk & Compliance (GRC), Sustainability, Tax, Thomson-Reuters multinational, Vertex, Office of Finance
In the realm of technology that matters for business and IT, our firm as part of our responsibility continually assesses the latest technology and how it can impact organizations’ efficiency and effectiveness. Our benchmark research in technology innovation found that 87% of participants indicated the importance of increasing the organization’s value through technology innovation. Every year we take our knowledge from research and technology briefings to focus on our Technology Innovation Awards and determine the vendors and products that have the potential to drive change in the market, the competitiveness of an organization’s business and sometimes just how efficiently a company operates. Our firm believes that Innovation can come from any size technology vendor from the smallest to the largest that are measured on a spectrum of attributes that contribute to the specific impact of the technology.
Topics: Analytics, Big Data, Business Analytics, Business Collaboration, Business Intelligence, Business Mobility, Business Performance, CIO, Cloud Computing, Collaboration, Contact Center, Customer, Customer & Contact Center, Datameer, Datawatch, ESRI, Financial Management, Financial Performance, Globoforce, Governance, Risk & Compliance (GRC), GRC, HCM, Hortonworks, IBM, Informatica, Information Applications, Information Builders, Information Management, Information Optimization, IT Performance, Johnson Controls Panoptix, Kronos, KXEN, Kyriba, Location Analytics, Location Intelligence, Marketing, Mobile, NetBase, Office of Finance, Operational Intelligence, Operational Performance, Oracle, Overall Operational Leadership, Peoplefluent, Planview, Roambi, Sales, Sales Performance, Service & Supply Chain, Social Media, SQLstream, Supply Chain Performance, Sustainability, Upstream Works, Vertex, VMWare, VPI, Workforce Performance, IT Analytics & Performance, Xactly, Information Technology
The International Integrated Reporting Council (IIRC) recently published a draft framework outlining how it believes businesses ought to communicate with their stakeholders. In this context the purpose of an “integrated report” is to promote corporate transparency by clearly and concisely presenting how an organization’s strategy, governance, and financial and operational performance will create value for shareholders and other stakeholders in both the short and the long term. Such a report aims to address broader needs than only those of investors’ and therefore must be more than a simple extension of a company’s external financial reports, which are aimed at a specialist audience including analysts, regulators and lawyers.
Topics: Business Analytics, Business Intelligence, Business Performance, closing, Customer & Contact Center, Financial Performance, FPM, Information Applications, Information Management, Operational Performance, SASB, SEC, Sustainability, XBRL, Office of Finance, financial reporting
In my last rant, on business analytics and the pathetic state of dashboards, I pointed out significant flaws in business intelligence software created by technology providers and in how it is being deployed by business and IT. Now I want to follow up with some insight on disconnects to a critical asset that is essential to the success of business analytics. I mean key performance indicators (KPIs), a term used in inaccurate ways that have diminished the value of the concept for business.
Topics: Business Analytics, Business Collaboration, Business Intelligence, Business Performance, Cloud Computing, Customer & Contact Center, Financial Performance, Governance, Risk & Compliance (GRC), Information Applications, Information Management, IT Performance, Key Performance Indicators, KPI, Location Intelligence, Operational Intelligence, Operational Performance, Sales Performance, Social Media, Supply Chain Performance, Sustainability, Workforce Performance
Our research agenda for 2012 in human capital management outlined the importance of workforce management for all organizations. One provider, WorkForce Software, provides systems that support scheduling, time and attendance, leave and absence and fatigue management. As I noted in my last analysis on WorkForce Software, the company’s focus on the fatigue aspect of workforce management, especially in white-collar environments such as transportation, utilities and healthcare, has provided them both recognition and growth. I attended the company’s first technology analyst summit this week to get a deeper view into the company and its products and see how it is shaping up in light of our research on the key applications providers in this market.
Topics: Business Analytics, Business Collaboration, Business Intelligence, Business Mobility, Business Performance, Business Technology Innovation, Cloud Computing, Customer & Contact Center, Financial Performance, Governance, Risk & Compliance (GRC), HTML5, Information Applications, Information Management, IT Performance, IT Research, Location Intelligence, Operational Intelligence, Operational Performance, Sales Performance, SAP, Social Media, SuccessFactors, Supply Chain Performance, Sustainability, Time & Attendance, Workforce Management, Workforce Performance, Human Capital Management, Big Data