ISG Software Research Analyst Perspectives | Robert Kugel (12)

Move Finance to the Cloud

Posted by Robert Kugel on 29 May 2020

In a recent note on virtualizing the close, I observed that finance and accounting organizations that can operate in a virtual mode are better able to adapt to changing circumstances and overcome obstacles. Having systems that people can readily access remotely to collaborate and execute processes virtually makes it easier for departments to meet their commitments with confidence. The core... Read More

Topics: Office of Finance, Financial Performance Management, ERP and Continuous Accounting, Predictive Planning

The Central Ledger: Restructuring Accounting with Technology

Posted by Robert Kugel on 22 May 2020

Sometimes it takes a while for technology to fundamentally change how work is done. That’s because several innovations usually have to come together before a transformation can occur. For instance, Karl Benz created the first practical motorcar in 1885, but consumers would have to wait until the 1920s for the modern automobile. Computerized accounting systems originated in the 1950s but it’s only... Read More

Topics: ERP, Office of Finance, close, closing, CFO, controller, Financial Performance Management, ERP and Continuous Accounting

Virtualizing the Close

Posted by Robert Kugel on 24 April 2020

The global pandemic crisis was, in effect, an unrehearsed stress test measuring the resiliency of the department. The crisis highlighted the importance of sustaining confidence in the accuracy and control of accounting processes, not just efficiency. Virtualizing the close means using technology to substantially reduce the amount of manual processing and paper involved needed to complete the... Read More

Topics: Office of Finance, Continuous Accounting, Fast close, CFO, Digital Technology

The Bottom Line Is the Bottom Line

Posted by Robert Kugel on 17 April 2020

The Chief Financial Officer can enable her or his finance department play a more strategic role in company operations by adopting what I call profitability management. In the interest of time I’ve made this a very high-level description that’s intended to be just an introduction to the topic. Profitability management is a cross-functional effort. It integrates finance and sales to achieve an... Read More

Topics: Office of Finance, Continuous Accounting, Integrated Business Planning, CEO, CFO, Financial Performance Management, Foreca

Rating CFO Performance in Audit Costs

Posted by Robert Kugel on 14 April 2020

For decades I’ve heard people talk about cutting audit costs to reduce administrative overhead but based on my observations, I was skeptical — mostly because, until recently, the documented success stories haven’t been about going from good to great so much as going from awful to average. That’s changing. I recently wrote about a company that had set out to cut its external auditor’s fees. The... Read More

Topics: Office of Finance, audit, Continuous Accounting, Financial Performance, CFO

Fortune Favors the Prepared

Posted by Robert Kugel on 07 April 2020

I like Louis Pasteur’s observation that “fortune favors the prepared mind.” So-called black swan events happen regularly and can have a very negative effect on a business. Of course, risk is inherent in any commercial undertaking; organizations don’t succeed by being overly cautious and reckless ones usually fail after awhile. Those that are consistently successful are ones that manage risk... Read More

Topics: Office of Finance, Continuous Accounting, Integrated Business Planning, CEO, CFO, Financial Performance Management, Foreca

Fortune Favors the Prepared

Posted by Robert Kugel on 02 April 2020

I like Louis Pasteur’s observation that “fortune favors the prepared mind.” So-called black swan events happen regularly and can have a very negative effect on a business. Of course, risk is inherent in any commercial undertaking; organizations don’t succeed by being overly cautious and reckless ones usually fail after awhile. Those that are consistently successful are ones that manage risk... Read More

Topics: Human Capital Management, Office of Finance, Continuous Planning, Workforce Management, Financial Performance Management, Work and Resource Management, Predictive Planning

Make Automating Finance and Accounting a Priority

Posted by Robert Kugel on 01 April 2020

We find in our recent Change in the Office of Finance benchmark research an indication of the value of using automation to execute finance department functions. Our findings reveal an increase in the use of automation by finance organizations over the past five years and a concomitant improvement in performance. For example, 46 percent of companies close their monthly books within four business... Read More

Topics: Office of Finance, Financial Performance Management, Price and Revenue Management, ERP and Continuous Accounting, robotic finance, Predictive Planning, revenue and lease accounting

Workday Does Source-to-Pay

Posted by Robert Kugel on 19 March 2020

In late February I attended Spark, the Scout annual user group meeting. This was the third and likely the last such meeting, as Scout was recently acquired by Workday. Scout’s users represent a new breed of purchasing managers and executives looking to change the role of the purchasing department. This change is critical for businesses. Saving money is the essential job of sourcing and purchasing... Read More

Topics: Office of Finance, Financial Performance Management, Digital Technology, Digital Commerce, Operations & Supply Chain, Enterprise Resource Planning, ERP and Continuous Accounting, purchasing, procurement, sourcing

Three Essentials for a Digital Office of Finance

Posted by Robert Kugel on 03 March 2020

One of the objectives of our recent Change in the Office of Finance benchmark research was to assess the technological capabilities of finance and accounting departments. The research confirms that today we are on the verge of a major technology-led shift. Technology that’s already available can have a greater impact on how the finance department operates over the next 10 years than it has over... Read More

Topics: Office of Finance, Financial Performance Management, Price and Revenue Management, ERP and Continuous Accounting, robotic finance, Predictive Planning, revenue and lease accounting, Subscription Management

The Next-Generation CFO

Posted by Robert Kugel on 24 February 2020

I was invited to sit on a panel at CFO 3.0 events held in San Francisco and New York hosted by Sage Intacct. This event is about the evolution of the role that started with the archetypal CFO 1.0, the green-eye-shade-wearing bean counter. Lacking usable technology, he or she was limited to keeping the books in good order and simply reporting what just happened. Today’s CFO 2.0 relies on... Read More

Topics: Office of Finance, Financial Performance Management, Price and Revenue Management, ERP and Continuous Accounting, robotic finance, Predictive Planning, revenue and lease accounting

The Office of Finance in 2020: Ventana Research Agenda

Posted by Robert Kugel on 14 February 2020

Ventana Research recently announced its 2020 research agenda for the Office of Finance, continuing the guidance we’ve offered for nearly two decades on the practical use of technology for the finance and accounting department to help these organizations derive greater value and improve their performance. For decades organizations have discussed transforming Finance from a backward-looking “bean... Read More

Topics: Office of Finance, Financial Performance Management, Price and Revenue Management, ERP and Continuous Accounting, robotic finance, Predictive Planning, revenue and lease accounting

The Office of Finance is a Numbers Factory

Posted by Robert Kugel on 04 February 2020

Yes, it’s an easy metaphor, but a worthwhile one to consider. For the Office of Finance, figures are its raw material. They are transformed and assembled into financial statements, forecasts and reports. Like a factory, there are blueprints (accounting standards, models and forms) that show how the parts are to be pieced together. There’s quality control in the form of internal audit. And there... Read More

Topics: Office of Finance, Financial Performance Management, Price and Revenue Management, ERP and Continuous Accounting, robotic finance, Predictive Planning, revenue and lease accounting

Host Analytics Becomes Planful

Posted by Robert Kugel on 29 January 2020

Host Analytics recently announced it will now go by the name Planful. The change formally signifies a new chapter in an evolution that began with the company’s acquisition by Vector Capital a year ago and the accession of a new CEO, Grant Halloran. Planful executives say the new name better represents its focus, which is on what Ventana Research calls continuous planning, as well as its focus on... Read More

Topics: Office of Finance, Continuous Planning, Financial Performance Management (FPM), Operations & Supply Chain, robotic finance, Predictive Planning

Blockchains Pose Problems of Persistence and Trust

Posted by Robert Kugel on 15 January 2020

I’ve written before about blockchain’s significant potential. A lot of the current discussion on the topic centers on cryptocurrencies and financial trading platforms, both of which are already in operation. However, my focus is on its applicability to business generally, especially in B2B commerce, where I believe there is significant potential for it to serve as a universal data connector.... Read More

Topics: Sales, Human Capital Management, business intelligence, Collaboration, Internet of Things, Data, Product Information Management, Digital Commerce, Enterprise Resource Planning, blockchain, candidate engagement, collaborative computing, continuous supply chain

Price Optimization: Cover Your Bases

Posted by Robert Kugel on 13 January 2020

Pricing is an eternally vexing issue in business. Over the years, organizations have used different strategies to establish prices for their products, depending on custom, the nature of the business and the degree of competitiveness in the market. The most straightforward approaches to price setting are a cost-plus calculation (cost plus some mark-up) and follow-the-leader (charge what... Read More

Topics: Financial Performance Management, Price and Revenue Management

Kinaxis Opens Its Concurrent Planning Platform

Posted by Robert Kugel on 27 December 2019

Kinaxis recently held its annual user conference, Kinexions, which focuses on helping the company’s customers improve their execution of supply chain and sales and operations planning (S&OP). Its RapidResponse software handles S&OP, demand, supply, inventory and capacity planning. S&OP is a function sorely in need of improvement: Our research finds that only 22 percent of companies perform it... Read More

Topics: Continuous Planning, Analytics, Enterprise Resource Planning, continuous supply chain, business digital commerce, AI and Machine Learning

Sage Intacct Looks to the Future of Finance

Posted by Robert Kugel on 23 December 2019

Sage Intacct recently hosted its annual user group meeting, Advantage, and earlier this year met with industry analysts. Both meetings shed light on how the company is addressing two key opportunities. One is building a robust offering to address rapidly evolving technology requirements for the Office of Finance. The other is broadening the scope of its offering to address the financial... Read More

Topics: Office of Finance, business intelligence, Financial Performance Management, ERP and Continuous Accounting, robotic finance, Predictive Planning, revenue and lease accounting, AI and Machine Learning

Cutting Audit Costs Significantly? It’s Actually Possible

Posted by Robert Kugel on 03 December 2019

For years I’ve viewed with skepticism the claim that one technology or another will reduce audit costs. For one, there’s rarely a silver bullet. An array of moving parts drive audit fees. For example, the complexity of the corporation, accounting data management and the audit staff’s familiarity with the industry and the company all affect the time auditors must spend. Also, most of the time I’ve... Read More

Topics: Office of Finance, Analytics, Business Intelligence, Financial Performance Management, ERP and Continuous Accounting, robotic finance, AI and Machine Learning

CFOs in Midsize Companies Face Challenges

Posted by Robert Kugel on 25 November 2019

Ventana Research recently published benchmark research findings on the Office of Finance, many of which show a trend in the right direction. Organizations are closing the books sooner; financial planning and analysis has improved; and companies are more frequently establishing Finance IT groups to manage the increasingly technological requirements for effectiveness. However, one participant... Read More

Topics: Office of Finance, Financial Performance Management, Price and Revenue Management, ERP and Continuous Accounting, robotic finance, Predictive Planning

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