One of the promised benefits of artificial intelligence (AI), Generative AI (GenAI) and agents is that they can make everyone their own financial and business analyst. It’s true that these technologies can make it possible for everyone to access once hard-to-reach data (with suitable permissions), unleash agents to assemble the data into useful tables and charts along with commentary describing results and highlighting underlying drivers of results, propose next best actions and use natural...
Read More
Topics:
Office of Finance,
Business Planning,
ERP and Continuous Accounting,
AI,
digital finance,
AI & Machine Learning,
Generative AI,
Consolidate and Close Management
Enterprise Resource Planning (ERP) systems are comprehensive software platforms designed to integrate and manage all the core processes of an enterprise while recording transactions and their financial consequences to support the accounting and finance functions. ISG Software Research recently completed our Buyers Guide™ for ERP systems, designed to help enterprises that are replacing their existing ERP software to make the best choice, both in terms of the product’s performance as well as the...
Read More
Topics:
Office of Finance,
Continuous Planning,
ERP and Continuous Accounting,
digital finance,
AI & Machine Learning,
Generative AI
Trintech provides finance departments in larger and midsize enterprises with software to accelerate their accounting close processes while achieving hard and fast accuracy and compliance requirements with less effort. The financial records of an enterprise must be periodically reviewed and summarized to create financial statements that inform executives and interested third parties of the organization’s financial condition and performance. A consolidation of the financial records and other...
Read More
Topics:
Office of Finance,
ERP and Continuous Accounting,
digital finance,
Consolidate and Close Management
In anticipation of conditions that suggested accelerating price increases, I wrote in 2021 about how technology could be useful in an inflationary period, anticipating the world we live in now. Responding effectively to changes in costs is always challenging, but even more so because of the choppy and chaotic nature of the current environment. Inflation may have abated from its highs throughout the rich world but is still an important factor in business decisions. Many enterprises have limited...
Read More
Topics:
Office of Finance,
Business Planning,
ERP and Continuous Accounting,
Subscription Management,
digital finance,
Revenue Management
Enterprises have been investing in software to manage their environmental, social and governance (ESG) objectives and compliance requirements. The need to account for these considerations in parallel with financial accounting began growing early in the century and accelerated as governments and regulatory authorities began to require companies to measure and document activities and outcomes. Meanwhile, software providers have been offering products to address the needs of those subject to these...
Read More
Topics:
Office of Finance,
ERP and Continuous Accounting,
digital finance,
Sustainability Management
ISG Software Research coined the term intercompany financial management to define a discipline for structuring and handling transactions within an enterprise and between its legal entities. IFM is designed to maximize staff efficiency and accounting accuracy while optimizing tax exposure, minimizing tax leakage and ensuring consistent tax and regulatory compliance. Technology has advanced to a point where this approach is feasible and cost-effective. For that reason, ISG Software Research...
Read More
Topics:
Office of Finance,
ERP and Continuous Accounting,
digital finance,
Consolidate and Close Management,
Intercompany Financial Management
The subscription and recurring revenue business models became a significant part of the economy this century with the advent of streaming services for entertainment and software as a service. They have grown in popularity because they enhance customer lifetime value by evolving what had previously been a one-time-sale relationship into a delivery of ongoing services, which can create a more loyal customer relationship as well as provide a regular, more predictable revenue stream.
Read More
Topics:
Office of Finance,
ERP and Continuous Accounting,
digital finance,
Consolidate and Close Management
Doing more with less is the defining characteristic of finance and accounting departments in midsize enterprises, which ISG research defines as organizations with between 100 and 999 workers. One frustrating truth confronting executives in these organizations is that, once their company stops being a small business, it has many of the same challenges that large enterprises face but with fewer resources to deal with them. Over the past two decades, advances in information technology have had the...
Read More
Topics:
Office of Finance,
Business Planning,
ERP and Continuous Accounting,
natural language processing,
digital finance,
Generative AI,
Procure-to-Pay,
Consolidate and Close Management
I recently attended Infor’s Velocity Summit, designed to showcase the latest versions of its CloudSuite ERP software. Also center stage were Infor’s advances in artificial intelligence and process mining as well as its environmental, social and governance application and supply chain optimization enhancements.
Read More
Topics:
Office of Finance,
ERP and Continuous Accounting,
natural language processing,
digital finance,
Sustainability Management,
AI & Machine Learning,
Continuous Supply Chain & ERP,
Generative AI
Agents are all the rage—and for a good reason. They are a way to automate work almost effortlessly so that repetitive and boring tasks get done with the least amount of effort on the part of the operator. In business, agents can be a boon for customer satisfaction and a way to improve worker productivity. They are alluring, with an almost unlimited number of potential use cases.
Read More
Topics:
Office of Finance,
Business Planning,
ERP and Continuous Accounting,
natural language processing,
digital finance,
Work Management,
Generative AI,
AI and Machine Learning,
Digital Applications,
Procure-to-Pay,
Order-to-Cash,
Consolidate and Close Management