Tag Archives: Shauna Steib

Automation concept image with text and gears symbols--automate financial consolidation

3-Step Guide to Automating Consolidation

It’s no secret that CFOs want to be more strategic. So what’s holding finance back? It’s the old-world tools they’re using for routine tasks, such as the financial close and reporting, which add risk and drain time and resources.

Take financial consolidation as an example. Many companies use spreadsheets to manage intercompany eliminations and allocations, which is time-consuming and error-prone—and this manual work slows down the entire close. According to Ventana Research, only 38% of companies can close their quarterly books in six days or less.

So how can you improve your process to execute faster and provide critical financial information sooner? Here’s a three-step guide.

Watch the webcast “Take the Pain Out of Financial Consolidation”

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Product Tip Tuesday: Creating A Variance Report using Adaptive’s Built-In Reporting

There are a lot of helpful tips and best practices to share with Adaptive customers as we pick back up our Product Tip Tuesday series. But with our intuitive and self-serving financial reporting features being one of our most popular benefits, we decided to kickoff this year’s series with a quick explanation of how to create variance reports using our built-in reporting feature.

Reports are used to communicate vital facts and figures to stakeholders throughout the organization. Unfortunately, the traditional tools used to create reports lack adequate drill-down capabilities, are subject to formatting challenges, and require painstaking manual measures that leave crucial data vulnerable to error. And when a manager needs a report quickly, spending hours compiling the information is just not scalable.

Check out the eBook, “Making the Shift: Four Secrets Behind Great Budgeting and Planning” 

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Product Tip Tuesday: 3 Best Practices to Adding New Adaptive Users

The more active Adaptive users within your company, the more value you’ll ultimately derive out of your Adaptive model. The goal is to get as many business users into Adaptive as possible, so that more people across the organization are collaborating on key business metrics, sharing information, and focusing more time on the most revenue-generating business projects.

As you find new, motivated users within the company, it’s critical to give them quick and proper access to financial plans, budgets, and reports. You risk killing any enthusiasm for participating in the financial process if you make people wait several days or weeks before giving them access. On the other hand, you don’t want to rush the process and give users improper access to data they shouldn’t be able to view or edit.

So today we cover three preliminary steps to take as you expand use of the Adaptive Suite throughout your organization.

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Product Tip Tuesday: Creating Freeform Dashboards in Adaptive Discovery

The ability to create freeform dashboards is one of the many features that allow Adaptive Discovery users to personalize our cloud visual analytics solution for their organization’s needs.

So what’s the difference between standard and freeform dashboards?

With standard dashboards, Discovery dials must be held in ribbons. With freeform dashboards, you can create flexible layouts by just dragging and dropping dials directly onto dashboards, and then resizing and positioning them however you like. The greater flexibility in positioning will allow you to call out specific dials with your most important data with a larger display, or decrease the size of simpler, easier-to-read dials to leave more room for other data segments. And today, you’ll learn exactly how to do it.

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Product Tip Tuesday: Creating New Versions in Adaptive Planning

There are several scenarios during which you may want to create a new version of your financial plan in Adaptive Planning. You may lock the budget after finalizing the data and then create a duplicate version for financial forecasting or what-if analysis. Then, you can grant separate permissions for each version to control who has access and who can edit data within each version.

Whatever your reason, today’s product tip will run through the quick and simple steps to help you create a new version in Adaptive Planning. First, let’s break down the fields to complete to create that new version.

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Product Tip Tuesday: How Does My Chart of Accounts String Fit into Adaptive?

Your chart of accounts provides a picture of the financial health of your business. It can be as complex and detailed as your company needs dictate.

Most companies use fields in the chart of accounts string for different purposes. Typically, one field is used for Department and another for Account, but there are often additional fields for Entity, Location, Project, etc.

Watch the webcast, “How to Avoid Three Costly Reporting Mistakes”

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MORE SPREADSHEETS, SOFTWARE, PEOPLE WON’T SOLVE YOUR CONSOLIDATION PROBLEMS

Adaptive Planning cloud cpm software corporate performance management business budgeting software budgeting and forecasting visual analytics financial reporting softwareThings keep getting faster – markets morph and accelerate, acquisitions spring up, divisions multiply, and geographies shift. Somehow, you and your team have to keep up. You must improve your monthly close and speed up your financial consolidation and reporting. You need to feel confident that the numbers you’re submitting to the board or SEC are actually accurate. But how can you do this?

Many companies try to fix the problem by adding more spreadsheets, more big software, or more people. But guess what? None of these solutions are viable. Here are three reasons why.

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Business Budgeting Q&A: Chris Abbiuso Talks Time-Savings for GDF Suez

Chris Abbiuso, GDF Suez, Business Budgeting Software, Business Forecasting Software, Q&A

Chris Abbiuso, Project Manager for Process Improvement Implementations, GDF Suez

During Part 1 of our conversation, Chris Abbiuso explained how he overcame challenges and was able to get plant managers to buy-in to a new budget forecasting software at GDF Suez Energy North America. GDF Suez Energy North America is part of GDF Suez International, the #1 producer of non-nuclear power in the world, with nearly 220,000 employees in nearly 70 countries.  The company reported $125 billion in revenues in 2012, with $9-10 billion of investment per year planned over the next three years.

During Part 2 of our conversation, Chris explained the planning and reporting efficiency improvements made as a result of using Adaptive.

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Business Budgeting Q&A: Chris Abbiuso, GDF Suez

GDF Suez Energy North America

Getting your budget managers involved in the sales planning process is always a challenge, particularly when implementing new technology. So what’s the best way to get them involved?

I posed the question to Chris Abbiuso, Project Manager for Process Improvement Implementations at GDF Suez Energy North America, who successfully implemented Adaptive Planning within his organization and got company budget managers to buy in. GDF Suez Energy North America is part of GDF Suez International, the #1 producer of non-nuclear power in the world, with nearly 220,000 employees in nearly 70 countries.  The company reported $125 billion in revenues in 2012, with $9-10 billion of investment per year planned over the next three years.

Here’s what Chris had to say:

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