There is a burning need for FP&A teams to become more strategic partners to business. When we surveyed more than 300 finance leaders for the Adaptive Insights CFO Indicator Q2 2016 report, 75% said they wanted their teams to have a significant and strong impact on their organization—but only 46% believed they could have that kind of impact by 2017. What was the disconnect? The chief reason cited was a lack of time for strategic planning.
With 2017 now underway, it’s clear that visionary finance leaders need to reimagine the very ways that FP&A teams function and collaborate—and usher in a new shift in culture. Kerman Lau, vice president of finance at Adaptive Insights, and Hitesh Peshavaria, a partner and advisory leader at Deloitte, recently discussed this in a webinar. They offered practical steps that FP&A leaders can take to realize a culture of analytics—where FP&A spends less time on manual and transactional tasks, and more time on analysis and generating strategic insights.
Love them or hate them, KPIs are the backbone of your business.
KPIs, or key performance indicators, can help you understand if your company is on the right track for success—and if it’s not, where to focus your attention. No matter what it measures, the aim of any KPI is to bring about improvement.
In addition, today’s finance leaders want to spend more time thinking about frameworks for measuring results in the form of KPIs and using these KPIs to guide course correction to drive business performance.
Guest Blog by Daniel Caringi, Strategy & Business Development Solutions, BDO Canada.
Over the last several months, Canadian companies have experienced added pressure when it comes to managing financial and operational processes. A sharp drop in the dollar and a decline in oil prices has hit regions across Canada differently, putting uncertainty back into the economy. Being able to quickly model one’s business to reflect the ongoing fluctuations in the market and understand how it impacts the bottom line is a constant and absolute imperative during times of instability.
Business efficiency is a journey, not a destination. Deeper analysis and scenario planning is required in order to bounce back from the unpredictability of market variations. Understanding what we can control and recognizing advancements in technology is a real differentiator today. Both can give us access to information faster and more accurately than manual-based processes. There is never a perfect time to invest in systems, however forward-thinking companies are looking to technology to be better prepared in times of change, and to better position themselves for business growth and scalability for when markets pick up.
We’ve made the case for years: There’s a huge opportunity and need for CFOs to become more strategic to their organizations.
We all agree that financial data should heavily influence future decisions within any business eyeing long-term success. But the cumbersome effort required to gather and analyze historical performance data and project future outcomes has hindered many finance leaders’ ability to spend less time managing data and more time acting as a strategic partner to the organization.
Finance needs the right FP&A tools and processes to drive a fundamental shift in responsibilities. I’m talking about a complete transition from number cruncher to strategic decision-maker – from reporting on historical performance, to driving future decisions.
Anyone who has taken a look at the agenda for this April’s Adaptive Live Global User Conference knows that there will be plenty of things to see, do, and learn during this worldwide finance event. So to help you create a plan of attack and maximize your time at Adaptive Live, we’ve assembled the five must-see sessions at this year’s event.
See the slides below for a glimpse at this year’s top sessions to look forward to. And if you haven’t booked your spot yet, do so before FEBRUARY 27th to take advantage of our special promotional discount!
It’s only appropriate that today, on the morning of Game 1 of the World Series – we’re here discussing the business finance benefits of Adaptive Revenue: The newest addition to the Adaptive BI & CPM Suite.
No, Adaptive Revenue is not directly related to the game plan for the Giants or Royals tonight in Kansas City. It won’t help Bruce Bochy or Ned Yost fill-out their lineup cards or make that crucial pitching change decision in the late innings.
But it IS the only fully integrated solution that corporate finance pros can use to complete that rare FP&A triple play.
Analyze financial performance and revenue across the business.
During last week’s webinar, Forrester VP of Research Paul Hamerman, one of the leading analysts in our industry, explored the adoption trend of cloud-based financial management tools in the enterprise sector (FP&A, consolidation, and analytics). We discussed the future of corporate performance management in the cloud and how organizations are deploying these applications today.
It’s no secret that decisions to deploy or not deploy business applications are increasingly moving from IT into the hands of department leaders. The cloud enables them to move at their speed, and no longer have to wait for IT. During the webinar, Paul shared Forrester data that shows how the cloud is perceived as improving business agility, accelerating speed of implementation, and enabling better resource allocation.
But we’re finding that organizations are also using the cloud to expand their use of on-premise applications they already use. What’s happening is that, while many enterprise finance teams are running on-premise tools like Hyperion or Cognos, they’re picking a new tool, or new deployment strategy, that best aligns with new business needs as they arise.
Earlier this week we began our enterprise cloud series and gave you three telltale signs to help determine whether or not a software solution is truly made for a cloud environment. Today, we go inside the advanced architecture behind Adaptive’s enterprise cloud platform and discuss the “in-memory” technology inside Adaptive’s Planning, Consolidation and Discovery Solutions.
Over the last few months several cloud technology leaders and finance industry leaders have detailed the new corporate finance trends emerging as a result of the new skills and characteristics of modern CFOs.
CFO.com’s David McCann detailed the “new breed” of CFOs back in August. In September, Russ Banham, the prolific author and CFO.com contributing editor, wrote about a newer, nimbler version of the five-year financial planning process. And as recently as late October, former Oracle CFO and new Adaptive Planning investor Jeff Epstein broke down five lessons for the modern CFO.
The group of new investors includes salesforce.com, the worldwide leader in SaaS and cloud CRM solutions for all companies, from SMBs to enterprise. Additionally, former Oracle CFO Jeff Epstein is one of our new private investors. Jeff will also join Adaptive Planning as a senior advisor. Here’s what all of this great news means for you as an Adaptive customer or partner…