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FP&A Needs a Data Strategy for Meeting Internal ESG Goals

Posted by Robert Kugel on 03 August 2022
Environmental, social and governance issues have grown increasingly pressing over the past few years as investors and government entities urge organizations to measure and disclose ESG metrics. I’ve already covered the broader topic as it relates to external reporting and how financial planning and analysis groups are likely to own this mandate going forward. (It’s mainly been a marketing and... Read More

Topics: FP&A, Office of Finance, ESG

Adopt the Fast Follower Paradigm for Finance

Posted by Robert Kugel on 26 July 2022
Although the digital transformation of the finance department was a topic of discussion before 2020, it became a front-and-center issue as organizations locked down and in-office interactions became impossible. Finance and accounting departments were immediately confronted with a challenge because of their limited adoption of technology that would support a virtual working environment. As our... Read More

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

A Faster Close Fixes Other Accounting Issues

Posted by Robert Kugel on 21 July 2022
Since its inception 20 years ago, Ventana Research has advocated for a shorter accounting close because it can improve the performance of the entire organization, not just finance and accounting. An important benefit of a shorter close is increased staff time for analysis and the preparation of reports and narratives that improve communications with the board and outside investors. Similarly, the... Read More

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

Finance Research Reveals No Progress to a Shorter Close

Posted by Robert Kugel on 19 July 2022
We conducted our recent Smart Close Dynamic Insights Research in part to assess to what extent the substantial disruptions of the pandemic have impacted the accounting close. When office lockdowns began in the first quarter of 2020, many finance departments were challenged by having to do their quarterly close remotely without their normal face-to-face interactions. In the United States, the... Read More

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

OneStream’s Sensible ML Tasks AI for Business Planning

Posted by Robert Kugel on 15 July 2022
OneStream offers a platform designed to serve the needs of accounting and financial planning and analysis organizations. The software handles financial close and consolidation, planning and budgeting, analysis and reporting. For me, the most significant announcement at the company’s recent user conference was the unveiling of its Sensible ML (Machine Learning) offering, which is in limited... Read More

Topics: Business Planning, Financial Performance Management, ERP and Continuous Accounting, AI and Machine Learning

A Data Pantry Speeds Development of Machine Learning Models

Posted by Robert Kugel on 12 July 2022
A few years ago – somewhat tongue in cheek – I began using the term “data pantry” to describe a type of data store that’s part of a business application platform, created for a specific set of users and use cases. It’s a data pantry because, unlike a general-purpose data store such as a data warehouse, everything the user needs is readily available and easily accessible, with labels that are... Read More

Topics: Data Management, Business Planning, Financial Performance Management, ERP and Continuous Accounting, AI and Machine Learning

AI Will Create Strategic Advantage for the Office of Finance

Posted by Robert Kugel on 24 June 2022
Artificial intelligence using machine learning has passed through the bright, shiny object stage and software vendors are well into the process of making the concept a reality in their offerings. Ventana Research defines AI as the use of technology to process information in much the way humans do, including improving accuracy in recommendations, actions and conclusions as more data is received. I... Read More

Topics: Planning, Machine Learning, Budgeting, Business Planning, Financial Performance Management, forecasting, AI and Machine Learning

Kinaxis Optimizes Agile Supply Chain Planning

Posted by Robert Kugel on 26 May 2022
Kinaxis is a sales and operation planning software company headquartered in Ottawa, Canada. Its RapidResponse is an S&OP platform for concurrent planning, designed to integrate an organization’s supply chain planning silos, accelerate planning cycles and optimize supply chain execution to match customer demand. At its recent users’ conference, the company emphasized its continued progress in... Read More

Topics: Continuous Planning, Business Planning, Operations & Supply Chain, Enterprise Resource Planning, continuous supply chain

Using External Data in Planning

Posted by Robert Kugel on 12 May 2022
Organizations need to use external data in planning and budgeting, both data and third-party forecasts. This need also extends to external data in training artificial intelligence systems to assist in planning and for predictive analytics. Companies do not live in a vacuum and things occurring outside physical facilities have a direct impact on how an organization performs. Incorporating external... Read More

Topics: Office of Finance, Business Planning, Financial Performance Management

Sage Intacct Moves into Manufacturing to Spur Growth

Posted by Robert Kugel on 06 May 2022
Sage recently announced that it is expanding its Sage Intacct software offering to support discrete manufacturing, with its initial foray into this competitive market centered in France. The move supports the company’s strategy of building out the scope of industries served by its cloud applications to include product-oriented business models and expanding Sage Intacct’s geographic footprint. The... Read More

Topics: Office of Finance, ERP and Continuous Accounting

Reordered Global Trade Requires Agile Sales and Operations Planning

Posted by Robert Kugel on 29 April 2022
I first wrote about a new era of trade a few years ago to make the point that the period of optimizing supply chains for the lowest cost was over, and that companies needed to redesign them to achieve greater resiliency. That observation proved correct. Now we are hearing about “the end of globalization,” a hyperbolic phrase describing the effects of ongoing changes to the international political... Read More

Topics: Continuous Planning, Business Planning, Financial Performance Management, Enterprise Resource Planning, ERP and Continuous Accounting, continuous supply chain

Blockchain Payment Systems Have Significant Potential

Posted by Robert Kugel on 06 April 2022
How payments are effected is an afterthought to many involved in a transaction, but flaws in this process can be a source of pain and frustration for those in the back office, especially in accounting and treasury. To improve the way payments are handled in business-to-business transactions, the once ubiquitous paper checks are giving way to electronic payments. This category includes credit,... Read More

Spend Management is More Effective with Software and Cards

Posted by Robert Kugel on 30 March 2022
The term "corporate spend" usually refers to the incidental but still significant outlays organizations make to support operations. Especially in nonmanufacturing industries, purchases of indirect goods and business services – such as computers, office supplies, furniture and services – as well as travel and entertainment can represent a significant percentage of total costs. Technology has... Read More

Topics: ERP, Financial Performance Management (FPM)

Simplifying Budgeting and Planning is FP&A’s Mission

Posted by Robert Kugel on 22 March 2022
Ventana Research recently published the results of our Business Planning Value Index Research and I commented on its connection to our emphasis on using software to unify planning processes across an enterprise to improve performance. Since 2007, we have advocated what we call Integrated Business Planning (IBP): a high-participation, collaborative, action-oriented approach to planning and... Read More

Topics: Business Planning, Finance Performance Management

Value-Added Tax Transformation Streamlines Compliance

Posted by Robert Kugel on 17 March 2022
Value-added tax is a type of levy that is applied at each step of a transaction chain, from basic inputs to the final good or service. The amount assessed is based on the value added by an organization (hence the name) when a transaction occurs. VAT is used throughout the world because, historically, it has been harder to evade compared to income taxes. VAT is a common method of national... Read More

Topics: Office of Finance, Tax, VAT

Unit4 Expansion Targets Enhancements for People-Centric Organization

Posted by Robert Kugel on 09 March 2022
I recently attended an analyst conference held by Unit4, an enterprise resource planning vendor focused on midsize organizations in people-centric industries. The conference was intended to communicate the company’s strategy, product updates and roadmap. The meeting took place shortly after announcement of the availability of Unit4 Industry Mesh and the acquisition of Compright, which does... Read More

Topics: Human Capital Management, Office of Finance, Business Planning, Talent Management, Financial Performance Management, ERP and Continuous Accounting, Total Compensation Management

Automate the Close Cycle for Consistently Better Performance

Posted by Robert Kugel on 03 March 2022
Software that automates the full scope of the accounting close, including reconciliations, consolidation and reporting, has grown more capable and affordable over the past five years. By enabling consistent process management that captures best practices, and by automating rote, repetitive activities to boost staff productivity, these applications enable organizations to shorten the close, make... Read More

Topics: Office of Finance, Financial Performance Management (FPM), ERP and Continuous Accounting

Why Automating Reconciliations Must be a Priority

Posted by Robert Kugel on 25 February 2022
Reconciling accounts at the end of a period is one of those mundane finance department tasks that are ripe for automation. Reconciliation is the process of comparing account data (at the balance or item level) that exists either in two accounting systems or in an accounting system and somewhere else (such as in a spreadsheet or on paper). The purpose of the reconciling process is to identify... Read More

Topics: Office of Finance, automation, Reconciliation

Progress for AI in Office of Finance Applications

Posted by Robert Kugel on 18 February 2022
The use of artificial intelligence (AI) using machine learning (ML) will be the single most important trend in business software this decade because it can multiply the investment value of such applications and provide vendors an important source of differentiation to achieve a competitive advantage in what are today very mature software categories. I assert that by 2025, almost all Office of... Read More

Topics: Office of Finance, embedded analytics, Data Management, Business Planning, Financial Performance Management, ERP and Continuous Accounting, AI and Machine Learning

The Value Index for Business Planning Classifies and Rates Vendors

Posted by Robert Kugel on 14 February 2022
I am happy to share insights gleaned from our latest Value Index research, an assessment of how well vendors’ offerings meet buyers’ requirements. The Ventana Research Value Index: Business Planning 2022 is the distillation of a year of market and product research. Drawing on our Benchmark Research, we apply a structured methodology built on evaluation categories that reflect real-world criteria... Read More

Topics: Office of Finance, Business Planning

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