ISG Software Research Analyst Perspectives | ERP and Continuous Accounting (7)

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... Read More

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

Fundamental Change is Coming to ERP Systems

Posted by Robert Kugel on 30 October 2020

Enterprise resource planning (ERP) systems are central to nearly every organization’s management of operational and financial business processes. They are essential to the smooth functioning of an organization’s record keeping, accounting and finance tasks. In manufacturing and distribution, ERP manages inventory and logistics. Some ERP software vendors incorporate an extended set of capabilities... Read More

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

ServiceNow: Now Platform earns our Overall Digital Innovation Award

Posted by Mark Smith on 06 October 2020

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

Topics: Customer Experience, Human Capital Management, Office of Finance, Contact Center, Workforce Management, Digital Technology, Operations & Supply Chain, Enterprise Resource Planning, ERP and Continuous Accounting, robotic finance, employee experience, continuous supply chain, agent management, work experience management

Zuora and Subscription Management: Suite and Platform to Address Digital Business

Posted by Stephen Hurrell on 28 September 2020

The last decade has seen exponential growth amongst subscription-based business models. Pioneered in the B2C market with cloud-based SaaS offerings, the last decade has seen exponential growth in the share of the economy that is now subscription based. Increasingly, this modern business model is permeating throughout more traditional style industries and companies. But regardless of whether a... Read More

Topics: Sales, Customer Experience, Office of Finance, Voice of the Customer, embedded analytics, Analytics, Business Intelligence, Collaboration, Internet of Things, Contact Center, Product Information Management, Price and Revenue Management, Digital Commerce, Enterprise Resource Planning, ERP and Continuous Accounting, natural language processing, robotic finance, revenue and lease accounting, Subscription Management, agent management, intelligent sales, sales enablement, AI and Machine Learning

Subscription and Usage Management Technology Needs for the Modern Economy

Posted by Stephen Hurrell on 11 September 2020

Subscription-based business models have seen exponential growth over the last decade. The growth of this recurring revenue business model, where a subscriber commits to repeatedly pay for a good or device for a fixed or indefinite timeline, has been caused by the shift from the one-time selling of physical products to selling digital services on a subscription basis. The first phase of this... Read More

Topics: Sales, Customer Experience, Office of Finance, Voice of the Customer, embedded analytics, Analytics, Business Intelligence, Collaboration, Internet of Things, Contact Center, Product Information Management, Price and Revenue Management, Digital Commerce, Enterprise Resource Planning, ERP and Continuous Accounting, natural language processing, robotic finance, revenue and lease accounting, Subscription Management, agent management, intelligent sales, sales enablement, AI and Machine Learning

OneStream Wins Our Innovation Award in Office of Finance with Analytic Blend

Posted by Robert Kugel on 13 August 2020

One of the challenges of being a practically minded technology analyst is squaring the importance of “the next big thing” with the reality of what most organizations are doing. For decades it’s been the case that “the next big thing” in the world of information technology is easily several years ahead of where most organizations are in their use of technology. And before most organizations can... Read More

Topics: Human Capital Management, Marketing, Office of Finance, Analytics, Business Intelligence, Sales Performance Management, Financial Performance Management, Price and Revenue Management, Digital Marketing, Work and Resource Management, Digital Commerce, Operations & Supply Chain, Enterprise Resource Planning, ERP and Continuous Accounting, robotic finance, Predictive Planning, revenue and lease accounting, Subscription Management, intelligent sales, AI and Machine Learning

The Business Continuity Imperative: The Continuous Planning Experience and Organizational Agility in 2020 and Beyond

Posted by Mark Smith on 19 July 2020

Business planning is an essential part of an organization’s focus on its future performance and overall potential because it ensures continuous operations, even in black-swan events. Planning across the entire organization needs to be a critical priority and leadership should give it the attention it deserves. In challenging times, a focus on execution tends to take hold — this is not... Read More

Topics: Sales, Human Capital Management, Office of Finance, Continuous Planning, Analytics, Business Intelligence, Collaboration, Internet of Things, Data, Sales Performance Management, Workforce Management, Financial Performance Management, Price and Revenue Management, Operations & Supply Chain, Enterprise Resource Planning, ERP and Continuous Accounting, Total Compensation Management, Predictive Planning, Conversational Computing

Workiva Chains Liberates FP&A

Posted by Robert Kugel on 04 July 2020

Workiva recently introduced Chains, a visual workflow tool for the Workiva platform. Individuals use Chains to create and manage linear sequences of tasks that they otherwise would have to execute manually, for example, automatically updating a report with the most current dataset. Chains is like old-style Excel macros in its simplicity; users configure sequences with a drag-and-drop visual... Read More

Topics: Office of Finance, Financial Performance Management, ERP and Continuous Accounting, Reporting, XBRL, iXBRL, document management

The Corporate Tax Management Software Imperative

Posted by Robert Kugel on 19 June 2020

Recent events are forcing corporations to adopt dedicated software for tax provision, transfer pricing and tax analysis. The fiscal damage that the global pandemic is inflicting on countries is likely to result in a more aggressive tax enforcement environment. This will further pressure organizations to establish centralized control and oversight in managing income taxes in corporations. This... Read More

Topics: Office of Finance, Financial Performance Management, ERP and Continuous Accounting, tax; tax provision; transfer pricing

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

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

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