Tag Archives: finance

torn paper with word budget 2017.Copyspace area--How to Improve Your Financial Budgeting Process

How to Improve Your Financial Budgeting Process

What’s inefficient, hinders corporate progress, and stifles productivity? You guessed it—the financial budgeting process.

In an era where the modern CFO is steadily emerging as a strategic force—armed with real-time data and game changing insights—it’s clear that old-school, static budgeting procedures just don’t make the cut. An active budgeting process, on the other hand, is collaborative, comprehensive, and continuous—and can increase buy-in and accountability throughout the organization.

So why do business finance professionals today still struggle with traditional financial budgeting? We’ve broken it down to the following four reasons based on the Harvard Business Review’s white paper, “The Annual Performance Trap: Why the Budgeting Process Must Change.”

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The CFO 411: Shifting Expectations

Economic expectations were put to the test this week, as the continued drumbeat of so-so indicators pointed to both a possible recession and a possible rethink of the Federal Reserve’s interest-rate hike. But the economic outlook wasn’t the only thing to shift this week: Studies show that business norms are also evolving, with more women and minorities occupying the CFO office and more financial leaders focusing on both data-driven insights and portfolio management. Continue reading

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Adaptive Suite 2015.2: Have it Your Way

What if you could add as many toppings as you wanted to your burger, with no calories and no cost? Mine would be a foot high triple patty, loaded with cheese, avocado, mushrooms, onions, and more! For Adaptive customers, we just added that benefit to our award-winning Adaptive Suite 2015.2 with new dimension attribute capabilities. We want to empower our customers to have it their way!

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Who’s the Walter White of Your Finance Team?

I have a confession: I just binge-watched all five seasons of AMC’s hit series Breaking Bad. Walter White, the show’s main character, reminded me of a specific type of person that exists within nearly every finance department.

The series features an ordinary chemistry teacher who, when diagnosed with cancer, goes “bad” and puts his scientific skills to work to ensure his kids will be well provided for when he’s actually gone. A talented chemist, he is able to concoct a high-quality narcotic that drives wild demand. And so a king, or in this case a cook (a.k.a. Heisenberg), is born.
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Weekly Wrap-Up: CFO Must-Reads

Adaptive Insights, cpm software, corporate performance management, business intelligence, financial planning, financial budgets, financial reportingStaying current on the latest industry news, updates, and opinions is a critical part of being an adaptive finance leader.

And to give you an easy way to stay abreast of all the happenings in the world of business and finance, we’ve compiled the following list of five modern CFO must-reads from the past week. Leave us a comment if you’ve read an article this week that you consider a CFO must-read!

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Can Data Analysts & IT Pros Finally Align Around Business Objectives?

Given the increased importance companies worldwide are putting on big data analytics, it should come as no surprise that demand for “Data Analysts” is nearing a frenzy. BusinessDay is even calling it the “choice job of the 21st century”.

While more data-driven decision-making is a largely positive shift for organizations, the growing popularity and demand for data analysts – financial data analysts in particular – has put more of a maintenance burden on IT teams.  As analysts adopt new data discovery tools, IT is often left “holding the bag” – charged with solving difficult technical issues when integrating new tools with existing applications and scaling use of those tools throughout the organization. Quelling this conflict is at the core of the new Adaptive Insights 2014.2 release.

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Why Integrated, Driver-Based Financial Planning Is Key To Your Business

driver-based financial planning and modeling adaptive planning corporate performance management CPM and Business Intelligence BI softwareI spent years building driver-based models to translate business activity into financial outcomes to support management decision-making. As “the spreadsheet guy,” marketing, sales, finance, business development and other teams all continually came to me for help when building models.

This gave me serious job security. While I liked being the guy that everyone hoped didn’t get “hit by the bus,” I now realize that our process was fundamentally flawed.

Watch the webcast “Elevate the Role of Finance In Your Organization”

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Tech Talk: 3 Steps To Better Financial Planning In Today’s Data-Driven Culture


1. Get Operations Involved and Excited

corporate finance operations financial planning visual analytics dashboards Emma Snider TechTarget Ben LamorteThe key is to incorporate the broad organizational view of executives with perspectives from the line of business leaders who are in the trenches day-to-day. But you can’t include them all involved from day one. Instead, Ben advises starting with managers who possess the following characteristics:

a. Respected managers with opinions that people take seriously

b. Managers who are tech-savvy

Once you identify the right people, foster enthusiasm for getting involved by celebrating even the smallest accomplishments.

2. Implement Customized Driver-Based Plans with Operations and Collaborate on KPIs

Ben suggests includingcorporate finance operations financial planning visual analytics dashboards Emma Snider TechTarget Ben Lamorte operational teams right from the start during financial modeling and. Rather than brainstorming a list of KPIs, begin by listing the types of decisions the operator would like the model to inform. This way, KPIs aimed at improving decision-making can emerge organically.

And what if operators are concerned about financial planning cutting into their daily jobs?

Ben says that finance leaders should not only act as a resource for operations, but also understand current KPIs and allow operations managers to create financial plans using familiar tools instead of forcing them to use general ledger codes.

Finance teams should keep their eye on the prize. The goal here is to create integrated driver-based plans. Start by including one department, but don’t stop until you achieve cross-departmental input and collaboration and can connect drivers in each department to the overall corporate strategy.

3. Analytics for All!!!

If you give more people access to ancorporate finance operations financial planning visual analytics dashboards Emma Snider TechTarget Ben Lamortealytics, you’ll have more people within your organization who understand what moves the needle and drives the organization forward. Visual analytics in particular are key in helping people outside of finance to understand KPIs. Dashboards, charts, graphs, and colors all work as long as you don’t get carried away. The simpler the better.

Even if you’ve only identified a few KPIs where data is readily available, begin by prototyping dashboards with real data. Operations leaders don’t want to see “mock-ups” and you make a great first impression  when presenting real data in dashboards for feedback. The sooner you can shift the conversation away from the mechanics of the dashboard to the insights that inform decision-making, the sooner you will be perceived as a valuable resource that enables operations to succeed. Get hands-on and show other department leaders how to use their new-found insight to achieve departmental goals, and, ultimately, corporate goals.


Adaptive Insider: Industry-Specific Financial Reporting Webinars This July!

Adaptive Planning Industry Vertical Webinars Corporate Performance Management (CPM)Adaptive helps businesses of all sizes, across all industries, to develop a more efficient financial planning, budgeting, analysis, and reporting process that ultimately leads to more informed business decisions. As part of this effort, we regularly host deep-dive webinars that address the unique financial needs of various industries, and explain how Adaptive can help alleviate these pain points.

This July we’re hosting four vertical webinars, each tailored to the needs of four separate industries: education, retail, non-profit, and finance. Each webinar will include:

Here are more details on this month’s vertical webinars.

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