ISG Software Research Analyst Perspectives | ERP and Continuous Accounting (6)

Meet the Environmental Social and Governance (ESG) Reporting Challenge

Posted by Robert Kugel on 30 August 2021

Environmental, social and governance reporting by public corporations has become a top-of-mind issue for senior executives and boards of directors as countries increasingly consider or mandate its implementation in some form. The fundamental rationale for ESG reporting is rooted in the inability of purely financial measures to capture externalities (such as greenhouse gas emissions) or provide...

Topics: Human Capital Management, Office of Finance, Business Intelligence, Data Governance, Data Preparation, Data, Financial Performance Management, ERP and Continuous Accounting

Zuora Earns Office of Finance Digital Innovation Award for 2021

Posted by Robert Kugel on 19 August 2021

The annual Ventana Research Digital Innovation Awards showcase advances in the productivity and potential of business applications, as well as technology that contributes significantly to the improved processes and performance of an organization. Our goal is to recognize technology and vendors that have introduced noteworthy digital innovations to advance business and IT.

Topics: Sales, Office of Finance, Digital Commerce, ERP and Continuous Accounting, Subscription Management

Finance IT Improves Departmental Performance

Posted by Robert Kugel on 06 August 2021

A year of business uncertainty, lockdowns and operational disruptions forced finance and accounting organizations to adapt and change in many ways that are proving to be permanent. The need to operate virtually resulted in some organizations accelerating their adoption of technology, bringing them closer to achieving a transformation of the finance and accounting function: reshaping the...

Topics: Office of Finance, Business Intelligence, Data Governance, Data Preparation, Business Planning, Financial Performance Management, ERP and Continuous Accounting, blockchain, robotic finance, Predictive Planning, AI and Machine Learning

Palantir Earns Overall Digital Innovation Award for 2021

Posted by Mark Smith on 04 August 2021

The annual Ventana Research Digital Innovation Awards showcase advances in the productivity and potential of business applications, as well as technology that contributes significantly to the improved processes and performance of an organization. Our goal is to recognize technology and vendors that have introduced noteworthy digital innovations to advance business and IT.

Topics: Customer Experience, Human Capital Management, Marketing, Office of Finance, Voice of the Customer, Continuous Planning, embedded analytics, Learning Management, Analytics, Business Intelligence, Collaboration, Data Governance, Data Preparation, Information Management, Internet of Things, Business Planning, Contact Center, Data, Product Information Management, Sales Performance Management, Workforce Management, Financial Performance Management, Price and Revenue Management, Digital Technology, Digital Marketing, Digital Commerce, Operations & Supply Chain, Enterprise Resource Planning, ERP and Continuous Accounting, Revenue, blockchain, natural language processing, data lakes, Total Compensation Management, robotic finance, Predictive Planning, employee experience, candidate engagement, Conversational Computing, Continuous Payroll, collaborative computing, mobile computing, continuous supply chain, Subscription Management, agent management, extended reality, intelligent marketing, sales enablement, work experience management, robotic automation, AI and Machine Learning, lease and tax accounting

Controllers: Always Be Closing

Posted by Robert Kugel on 29 June 2021

These days it strikes me that the motto of successful salespeople – "ABC: Always Be Closing!" – should apply equally to corporate controllers, albeit in the accounting sense. This is a reference to an approach to managing the finance department that I have been advocating, which I call "continuous accounting." It is a holistic way of managing the accounting function that, in large part,...

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

Digital Process Reengineering Improves Business Performance

Posted by Robert Kugel on 28 May 2021

Business process reengineering (BPR) was a consulting fashion in the early 1990s that spurred many companies to purchase their first ERP systems. BPR proposes a fundamental redesign of core business processes to achieve substantial improvements in market and customer responsiveness, productivity, cycle times and quality. Those early ERP systems provided a platform to manage cross-functional...

Topics: Office of Finance, Business Planning, Financial Performance Management, ERP and Continuous Accounting, robotic finance, Predictive Planning, lease and tax accounting

Reduce Risk and Improve Departmental Effectiveness with Intercompany Financial Management

Posted by Robert Kugel on 24 May 2021

Ventana Research defines intercompany financial management as a discipline for structuring and handling transactions within a corporation 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. Today, IFM is an obscure topic, but I assert that...

Topics: Office of Finance, Business Planning, Financial Performance Management, ERP and Continuous Accounting, Revenue, robotic finance, lease and tax accounting

Unit4 Democratizes Agile, Data-Driven Decision-Making

Posted by Robert Kugel on 17 May 2021

Unit4’s Financial Planning and Analysis (formerly Prevero) is a planning and budgeting application designed for the requirements of midsize corporations and the public sector. These organizations are challenged in buying software because they have almost all the requirements of larger enterprises but have a smaller budget and limited technical resources.

Topics: Office of Finance, embedded analytics, Analytics, Business Intelligence, Business Planning, Financial Performance Management, Price and Revenue Management, Digital Technology, ERP and Continuous Accounting, Predictive Planning, collaborative computing, AI and Machine Learning

Consolidation Software Builds Staff Effectiveness in Midsize Companies

Posted by Robert Kugel on 14 May 2021

Financial consolidation software assists companies in executing their accounting close process - especially those that use multiple ERP systems or have multiple legal entities - and with other characteristics that can complicate the process such as keeping books in multiple currencies. Not every midsize company needs consolidation software because many find their ERP (or financial management)...

Topics: Financial Performance Management, ERP and Continuous Accounting

FourQ Builds Confidence and Trust in Intercompany Financial Management

Posted by Robert Kugel on 23 April 2021

FourQ is an intercompany financial management (IFM) Solution-as-a-Service provider. IFM is a discipline for structuring and handling transactions within a corporation and between its legal entities, and is designed to maximize staff efficiency and accounting accuracy while optimizing tax exposure, minimizing tax leakage and ensuring consistent tax and regulatory compliance. Today, IFM is an...

Topics: Office of Finance, Financial Performance Management, ERP and Continuous Accounting, Revenue, robotic finance, lease and tax accounting

Modern ERP Improves Organizational Performance

Posted by Robert Kugel on 16 April 2021

The ERP system is at the core of nearly every organization’s record keeping and business process management. Its smooth and uninterrupted functioning is essential to an organization’s accounting and finance functions. In manufacturing and distribution, ERP manages inventory and logistics. Some organizations use it to handle human resources functions like tracking workers, payroll and related...

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

IBM Planning Analytics Makes Planning Easier for Business Unit Leaders

Posted by Robert Kugel on 13 April 2021

IBM Planning Analytics, formerly known as TM1, is a comprehensive planning and analytics application designed to integrate and streamline an organization’s planning processes. It can support multiple planning use cases on a single platform, including financial, headcount, sales and demand planning. The software automates enterprise-wide data collection to make it repeatable and scalable across...

Topics: Office of Finance, embedded analytics, Analytics, Business Intelligence, Collaboration, Business Planning, ERP and Continuous Accounting, Predictive Planning, AI and Machine Learning

Trintech Speeds up Financial Close with Automation

Posted by Robert Kugel on 09 April 2021

Organizations have long sought ways to achieve a fast but “clean” (accurate) financial close. The most widely accepted benchmark is to be able to close within one business week. Organizations that close within a business week are almost always more competent in how they manage the process and therefore use resources more efficiently. Also, organizations that close their books within six days...

Topics: Office of Finance, Business Planning, ERP and Continuous Accounting, robotic finance

A Virtual Audit Enables Savings Through Efficiency

Posted by Robert Kugel on 05 April 2021

The challenges of the pandemic prevented auditors from visiting client offices, which led to widespread adoption of remote audit processes. Although there are outward similarities between a remote audit and a virtual audit, they aren’t the same. A remote audit uses technology to adapt the existing audit processes to an environment where in-person interactions are impossible. A virtual audit uses...

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

Streamlining Spending for Savings and Control

Posted by Robert Kugel on 02 April 2021

Irked by the need to account for every penny of his college expenses, poet Robert Frost penned the lines:

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

Robotic Process Automation is a Core Finance Competency

Posted by Robert Kugel on 30 March 2021

Robotic Process Automation (RPA) has emerged as a core digital technology for finance and accounting organizations. It can drive significant gains in productivity and efficiency by automating mechanical, repetitive accounting processes in a continuous, end-to-end fashion. RPA improves efficiency, ensures data integrity and enhances visibility into processes.

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

The Office of Finance Market Agenda for 2021: Accelerating Adoption of Digital Technology

Posted by Robert Kugel on 28 February 2021

Ventana Research recently announced its 2021 market agenda for the Office of Finance, continuing the guidance we’ve offered since 2003 on the practical use of technology for the finance and accounting department. Our insights and best practices aim to enable organizations to operate with agility and resiliency, improving performance and delivering greater value as a strategic partner.

Topics: Office of Finance, enterprise profitability management, Business Intelligence, Collaboration, Business Planning, Financial Performance Management, ERP and Continuous Accounting, Revenue, blockchain, robotic finance, Predictive Planning, virtual audit, AI and Machine Learning, virtual close, lease and tax accounting

Use Software for More Effective Tax Management

Posted by Robert Kugel on 10 February 2021

The post-pandemic world will see much returned to normal, but there will also be change. For businesses that faced shutdowns, these changes will include higher taxes to pay for the costs of mitigating the economic impact, and the loss of tax revenue. In addition to imposing higher tax rates, some governments will strive to raise revenue by accelerating their adoption of digital technologies to...

Topics: Office of Finance, Financial Performance Management, ERP and Continuous Accounting, Revenue, robotic finance, lease and tax accounting

BlackLine Matches Receivables for Continuous Accounting

Posted by Robert Kugel on 05 February 2021

BlackLine recently held its first virtual user conference, Beyond the Black, where it detailed numerous additions and enhancements to its applications. Of note was the launch of BlackLine Cash Application, an accounts receivable (AR) processing software based on software originally developed by recently acquired Rimilia. The new application fits the company's product strategy of providing...

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

Make Accounts Receivable Pay

Posted by Robert Kugel on 14 December 2020

Can you imagine a more arcane and boring topic than accounts receivable? Unless you are the CFO, controller, chief accounting officer or treasurer of an organization, maybe not. Anecdotally, as it’s part of the trend to the digital transformation of all things in the department, there appears to be greater interest in this area of the Office of Finance. With populations locked down and the...

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