How Continuous Close Process can drive Financial Efficiency ?
Imagine the Energizer Bunny on a caffeine-fuelled marathon. That’s what it feels like for accounting and controllership teams during the month/quarter-end close. While mandatory for accurate reporting and compliance, this period is often a tedious slog filled with manual tasks but what if there was a way to short circuit the grind? This blog examines the close process, uncovering common bottlenecks and exploring innovative strategies […]
Cost-Effective Data-Driven Financial Decision Support Systems for Mid-Market Companies to Compete Better
In the past decade, mid-market companies (revenues of $10million to $1 billion) have undergone a significant transformation. Traditionally these companies were focused on domestic markets or had very limited international operations. However, these businesses are now expanding globally. The reasons can be either driven by market opportunities, supply chain diversification, or customer demand. Increasingly, mid-market […]
Data Foundations as a Risk Mitigation Approach for ERP Migration and Transformation Programs
ERPs are the core of transactional systems and the book for record. They are the backbone of transaction processing, process alignment, and compliance. Like every other application, to align to evolving technology, business changes and new business models ERPs have to be upgraded, reimplemented, or replaced. ERP migration is a complex, high-stakes endeavor, especially in […]
Data Reconciliation Challenges
Significance of Data Reconciliation in Finance and Accounting One of CFO team’s biggest responsibilities is creating a set of consolidated financial statements. Financials are the scoreboard for a company’s performance, and they need to be aggregated in a centralized place. This requires data to be pulled across multiple business lines, departments, product lines, currencies, and […]
Navigating Intercompany Reconciliation with Data & Analytics
The Crucial Role of Intercompany Reconciliation in Modern Finance In our discussions with Finance teams, Reconciliation comes on top of their mind, and we got requests from teams on how they can solve the Reconciliation challenges. As per a recent study, highly automated intercompany accounting process have 75% fewer full-time equivalent (FTE) staff and enterprises […]
The Hidden Costs of Poor Data Quality for Finance, Procurement and Sales Operations teams
Introduction Enterprises use various applications across departments to solve for their pressing business needs and data has traditionally been a secondary thought. Though the recent applications have focused on integrations but the data residing within two applications do not talk to each other. This has caused Data to be everywhere but with GenAI in focus, […]
Transforming Enterprise Finance with GenAI – Propensity to Pay Model | Beyond ERP Insights
Introduction So far in our Beyond ERP blogs (here, here and here), we discussed how enterprises struggle with obtaining actionable insights from ERP systems, how a solid data foundation can enable scalable insights and automation, and principles to adopt while doing visualization. The idea was to set the foundation for digitizing the finance function. Let’s […]
Principles of Creating Powerful Visualizations for Business Performance improvements
In our previous blogs (here and here) we discussed how enterprises struggle with obtaining financial insights from ERP systems and how a solid data foundation can enable scalable insights and automation. In this blog, we will explore how visualization can help finance teams become better storytellers and provide clearer insights into business performance. CFOs are […]
Beyond ERP: Achieving the Maximum Potential of Your ERP Data
In our previous blog, we explored why despite heavily investing in Enterprise Resource Planning (ERP) systems, we still struggle to get basic financial insights. In this blog we delve into a detailed approach on how organizations can maximize the potential of their ERP, other systems and tribal knowledge data by integrating various system of records […]
Beyond ERP: How to leverage your investments in ERP to drive value and enable powerful financial insights
One question we often hear is that despite heavily investing in Enterprise Resource Planning (ERP) systems, we still struggle to get basic financial insights.ERPs such as SAP, Infor, Oracle, MS Dynamics have long been the backbone of enterprise operations (e.g. finance, procurement, sales). These systems are designed to transact more efficiently, integrate business processes and […]
