Data analytics is top of finance professionals’ minds as they stive to promote progress, efficiency and decision-making.
Driving data to value with frictionless finance
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Finance business partners are vital to businesses and organizations that rely on you to support sound decision-making. To combat the compression of time and increased competition and complexity, future-ready finance organizations have removed the friction from key finance processes through relentless automation. They’ve claimed ownership of the finance data model, creating a data value chain where those within the enterprise are informed and empowered to make the best decisions.
Frictionless Finance Report
Frictionless Finance - Driving data to value, co-authored with Deloitte and Workday, is a new report full of insights about how to drive the decision to value creation process. Here are some of the areas covered:
Speeding up the data-to-decision process
Prediction No. 6: ERP moves to the cloud
Prediction No. 1: The Finance factory
Prediction No. 7: Data
Prediction No. 8: Workforce and Workplace
Driving decision to value
Prediction No. 2: The role of FinancePrediction No. 3: Finance cycles
Prediction No. 5: Operating models
Prediction No. 4: Self-service
Accounting and finance professionals are embracing how data analytics can transform an organization and finance operations. You can learn to close data analytics gaps for future success and understand the power around data and automation.
Achieving frictionless finance is about making progress across the eight key dimensions outlined by Deloitte Consulting in its Finance 2025 Revisited research. These address process standardization that enables automation using:
a cloud-based, 21st century Enterprise Resource Planning (ERP) or enterprise cloud management system
implementation of a common data model owned and managed by finance
finance function with the right skills and competencies to automate the data-to-insight process drive value creation in alignment with the business
Strategic decision-making is a key attribute of competitive advantage. And we have rich sources of data, and the technologies that enable us to interrogate, connect and leverage this rich data to produce actionable insights. That really should be the focus for us as finance leaders and as a finance function.
If you are not sure how to use data analytics to enhance the operations of your finance department, the AICPA & CIMA are a great source for learning about data analytics in management accounting and public accounting situations. Find out more at: aicpa.org/dataskills
Learn how data-driven organizations are three times more likely to experience significant improvement across performance, company growth and net earnings.
Download the Frictionless finance: Driving data to value
File name: Frictionless_Finance_Whitepaper_3.2.22_V1.pdf
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