The Ledger

Efficiency: A Crucial Factor in Achieving Timely Forecasting

Financial forecasting accuracy is a high priority for CFOs, and doing it efficiently is ideal. However, when managers chase accuracy, the act of forecasting often causes them to alter their action plans, which alters their ability to track forecast accuracy. Forecasting well and forecasting quickly are often linked. Those who can do it quickly are most likely capitalizing on available technology and are able to produce mini-forecasts on demand. They are tracking key drivers and have established algorithms that allow them to pull a forecast at any time. They’re also tracking leading predictive indicators. It is important to understand that getting accurate information in a timely fashion is the difference between getting caught in a storm and being prepared for whatever conditions lie ahead.

Read More at CFO Magazine >

Refocus Strategic Performance for Long-Term Growth

“Companies need to understand, manage, and align their long-term value drivers to achieve sustainable value creation, especially in today’s constantly changing business environment.”

Companies need to innovate at an increasingly rapid pace in order to survive and thrive in today’s environment. Finance leaders need to drive and support innovation that will enable their organization to achieve greater long-term value creation. It is importance to understand what really creates long-term value in the organization, and develop ways to measure it and manage it. A long-term approach to measuring success is key.

Read More at Strategic Finance Magazine >

How Mature Are Your Data Analytics?

A recent study by Forrester Consulting of analytics decision makers found that 92% of companies with mature data and analytics/BI practices have seen revenue growth of 15% or more in the past three years. These findings highlight the importance of following a clear roadmap to high-performance analytics, where every decision-maker is getting the insight they need to help grow the business. Companies with mature data analytics are running agile analytics enterprise-wide, providing greater self-service capabilities for business users, and delivering accessible analytics that is contextual, actionable, and pervasive across the organization.

Read More at The Digitalist by SAP >

A New Era of Growth With Data Management and Analytics

Unfortunately, an inherent lack of data coordination, integration, and access is keeping many midsize businesses from achieving competitive advantage – which is a dangerous inhibitor to growth. Scattered customer information leads to poor sales effectiveness and low customer satisfaction. Unstandardized data causes internal misunderstanding of what data is truly saying. And misaligned information impedes strategic decision-making. All too often, people are wowed by shiny new performance dashboards, data visualizations, and data-hungry applications. But they rarely think about the foundation for deriving value from these digital investments: data.

Read More at The Digitalist by SAP >