Ventana Research recently awarded Workday a 2016 Technology Innovation Award for its newly released application, Workday Planning, because it simplifies and streamlines the budgeting and planning processes while facilitating collaboration, deepening visibility into spending and enabling tight fiscal control. These capabilities can help a variety of user organizations in several ways.
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Topics:
Big Data,
Marketing,
Office of Finance,
Budgeting,
Controller,
In-memory,
CFO,
Workday,
demand management,
Financial Performance Management,
financial reporting,
FPM,
Integrated Business Planning
The imperative to transform the finance department to function in a more strategic, forward-looking and action-oriented fashion has been a consistent theme of practitioners, consultants and business journalists for two decades. In all that time, however, most finance and accounting departments have not changed much. In our benchmark research on the Office of Finance, nine out of 10 participants said that it’s important or very important for finance departments to take a strategic role in...
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Topics:
Big Data,
Planning,
Predictive Analytics,
Social Media,
Governance,
GRC,
Human Capital,
Mobile Technology,
Office of Finance,
Budgeting,
close,
Continuous Accounting,
Continuous Planning,
end-to-end,
Tax,
Tax-Datawarehouse,
Analytics,
Business Analytics,
Business Collaboration,
Business Performance,
CIO,
Cloud Computing,
Financial Performance,
In-memory,
Uncategorized,
CFO,
CPQ,
Risk,
CEO,
Financial Performance Management,
FPM
The big data market continues to expand and enable new types of analyses, new business models and new revenues streams for organizations that implement these capabilities. Following our previous research into big data and information optimization, we’ll investigate the technology trends affecting both of these domains as part of our 2016 research agenda.
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Topics:
Big Data,
Analytics,
Business Analytics,
Business Intelligence,
Data Preparation,
In-memory,
Information Management,
Operational Intelligence,
Uncategorized,
Information Optimization
Ventana Research recently released the results of our Next-Generation Business Planning benchmark research. Business planning encompasses all of the forward-looking activities in which companies routinely engage. The research examined 11 of the most common types of enterprise planning: capital, demand, marketing, project, sales and operations, strategic, supply chain and workforce planning, as well as sales forecasting and corporate and IT budgeting. We also aggregated the results to draw...
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Topics:
Big Data,
Planning,
Predictive Analytics,
Sales,
Sales Performance,
Social Media,
Supply Chain Performance,
Human Capital Management,
Marketing,
Office of Finance,
Reporting,
Budgeting,
Controller,
Customer Performance,
Operational Performance,
Business Analytics,
Business Performance,
Cloud Computing,
Financial Performance,
In-memory,
Workforce Performance,
CFO,
Supply Chain,
capital spending,
demand management,
Financial Performance Management,
financial reporting,
FPM,
Integrated Business Planning,
S&OP
Last year Ventana Research released our Office of Finance benchmark research. One of the objectives of the project was to assess organizations’ progress in achieving “finance transformation.” This term denotes shifting the focus of CFOs and finance departments from transaction processing toward more strategic, higher-value functions. In the research nine out of 10 participants said that it’s important or very important for the department to take a more strategic role. This objective is both...
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Topics:
Big Data,
Planning,
Predictive Analytics,
Governance,
GRC,
Office of Finance,
Budgeting,
close,
end-to-end,
Tax,
Tax-Datawarehouse,
Analytics,
Business Performance,
CIO,
Financial Performance,
In-memory,
CFO,
CPQ,
Risk,
CEO,
Financial Performance Management,
FPM
Our research consistently finds that data issues are a root cause of many problems encountered by modern corporations. One of the main causes of bad data is a lack of data stewardship – too often, nobody is responsible for taking care of data. Fixing inaccurate data is tedious, but creating IT environments that build quality into data is far from glamorous, so these sorts of projects are rarely demanded and funded. The magnitude of the problem grows with the company: Big companies have more...
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Topics:
Big Data,
Planning,
Predictive Analytics,
Governance,
Office of Finance,
Budgeting,
close,
Finance Analytics,
Tax,
Operational Performance,
Analytics,
Business Analytics,
Business Intelligence,
Business Performance,
CIO,
Financial Performance,
Governance, Risk & Compliance (GRC),
In-memory,
Information Applications,
CFO,
Risk,
CEO,
Financial Performance Management,
FPM
Business computing has undergone a quiet revolution over the past two decades. As a result of having added, one-by-one, applications that automate all sorts of business processes, organizations now collect data from a wider and deeper array of sources than ever before. Advances in the tools for analyzing and reporting the data from such systems have made it possible to assess financial performance, process quality, operational status, risk and even governance and compliance in every aspect of a...
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Topics:
Big Data,
Planning,
Predictive Analytics,
Governance,
Office of Finance,
Budgeting,
close,
Finance Analytics,
Tax,
Analytics,
Business Analytics,
Business Intelligence,
Business Performance,
CIO,
Financial Performance,
Governance, Risk & Compliance (GRC),
In-memory,
Information Management,
CFO,
Risk,
CEO,
Financial Performance Management,
FPM
Anaplan, a provider of cloud-based business planning software for sales, operations, and finance and administration departments, recently implemented its new Winter ’14 Release for customers. This release builds on my colleagues analysis on their innovation in business modeling and planning in 2013. Anaplan’s primary objective is to give companies a workable alternative to spreadsheets for business planning. It is a field in which opportunity exists. Our benchmark research on this topic finds...
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Topics:
Big Data,
Performance Management,
Planning,
Predictive Analytics,
Sales Performance,
Supply Chain Performance,
Marketing,
Office of Finance,
Operations,
Reporting,
Budgeting,
Controller,
Operational Performance,
Business Analytics,
Business Performance,
Cloud Computing,
Financial Performance,
In-memory,
Workforce Performance,
CFO,
Sales Planning,
Financial Performance Management,
financial reporting,
FPM,
Integrated Business Planning
A core objective of my research practice and agenda is to help the Office of Finance improve its performance by better utilizing information technology. As we kick off 2014, I see five initiatives that CFOs and controllers should adopt to improve their execution of core finance functions and free up time to concentrate on increasing their department’s strategic value. Finance organizations – especially those that need to improve performance – usually find it difficult to find the resources to...
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Topics:
Big Data,
Performance Management,
Planning,
Predictive Analytics,
Sales Performance,
Supply Chain Performance,
Office of Finance,
Budgeting,
close,
dashboard,
PRO,
Tax,
Analytics,
Business Analytics,
Business Collaboration,
Business Performance,
CIO,
Customer & Contact Center,
Financial Performance,
In-memory,
CFO,
Supply Chain,
CEO,
demand management,
Financial Performance Management,
FPM,
S&OP
Senior finance executives and finance organizations that want to improve their performance must recognize that technology is a key tool for doing high-quality work. To test this premise, imagine how smoothly your company would operate if all of its finance and administrative software and hardware were 25 years old. In almost all cases the company wouldn’t be able to compete at all or would be at a substantial disadvantage. Having the latest technology isn’t always necessary, but even though...
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Topics:
Big Data,
Planning,
Predictive Analytics,
Governance,
GRC,
Office of Finance,
Budgeting,
close,
Tax,
Analytics,
Business Analytics,
Business Collaboration,
Business Performance,
CIO,
Cloud Computing,
Financial Performance,
Governance, Risk & Compliance (GRC),
In-memory,
CFO,
Risk,
CEO,
Financial Performance Management,
FPM
Tidemark announced the release of the Fall 2013 version of its eponymous cloud-based application that my colleague assessed earlier in 2013. This new release adds capabilities for labor planning and expense management as well profitability modeling and analysis. These two areas of planning and analysis are common to all businesses. The new release adds features that enhance the software’s ability to do sales forecasting, initiative planning and IT department planning. The company continues to...
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Topics:
Big Data,
Performance Management,
Planning,
Predictive Analytics,
Sales Performance,
Supply Chain Performance,
Office of Finance,
Reporting,
Controller,
Operational Performance,
Analytics,
Business Performance,
Cloud Computing,
Customer & Contact Center,
Financial Performance,
In-memory,
Workforce Performance,
CFO,
Tidemark,
Financial Performance Management,
financial reporting,
FPM,
Integrated Business Planning
Business planning is a new software category. These applications enable senior executives to integrate all the plans of business units into a single, integrated view, which helps them have more accurate plans, do more insightful what-if planning, achieve greater agility in reacting to changing business and economic conditions, and execute plans in a more coordinated fashion than was possible. Business planning software is intended for CEOs and COOs, who are not well served by current...
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Topics:
Big Data,
Performance Management,
Planning,
Predictive Analytics,
Office of Finance,
Reporting,
Budgeting,
Controller,
Operational Performance,
Business Analytics,
Business Collaboration,
Business Performance,
Cloud Computing,
Financial Performance,
In-memory,
Workforce Performance,
CFO,
Financial Performance Management,
financial reporting,
FPM,
Integrated Business Planning
Oracle continues to enrich the capabilities of its Hyperion suite of applications that support the finance function, but I wonder if that will be enough to sustain its market share and new generation of expectations. At the recent Oracle OpenWorld these new features were on display, and spokespeople described how the company will be transitioning its software to cloud deployment. Our 2013 Financial Performance Management Value (FPM) Index rates Oracle Hyperion a Warm vendor in my analysis,...
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Topics:
Big Data,
Mobile,
Planning,
Social Media,
ERP,
Human Capital Management,
Modeling,
Office of Finance,
Reporting,
Budgeting,
close,
closing,
Consolidation,
Controller,
driver-based,
Finance Financial Applications Financial Close,
Hyperion,
IFRS,
Tax,
XBRL,
Analytics,
Business Analytics,
Business Intelligence,
Business Performance,
CIO,
Cloud Computing,
Financial Performance,
In-memory,
Oracle,
CFO,
compliance,
Data,
benchmark,
Financial Performance Management,
financial reporting,
FPM,
GAAP,
Integrated Business Planning,
Price Optimization,
Profitability,
SEC Software
Business planning as practiced today is a relic, a process hemmed in by obsolete conceptions of what it should be. I use the term “business planning” to encompass all of the forward-looking activities in which companies routinely engage, including, for example, sales, production and head-count planning as well as budgeting. Companies need to take a fresh view of all these, adopting a new approach to business planning that while preserving continuity makes a substantial departure from what most...
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Topics:
Big Data,
Planning,
Predictive Analytics,
Sales Performance,
Social Media,
Supply Chain Performance,
Office of Finance,
Reporting,
Budgeting,
Controller,
Operational Performance,
Business Performance,
Financial Performance,
In-memory,
Workforce Performance,
CFO,
Financial Performance Management,
financial reporting,
FPM,
Integrated Business Planning
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Topics:
Mobile,
Predictive Analytics,
Real-time,
Sales Performance,
SAP,
Supply Chain Performance,
ERP,
Operational Performance,
Analytics,
Business Analytics,
Business Collaboration,
Business Performance,
Cloud Computing,
Customer & Contact Center,
Financial Performance,
In-memory,
Workforce Performance,
CRM,
finance,
Social,
Business Suite,
Financial Performance Management,
HANA
Businesses always see a lag between when technology makes some advance possible and when a majority of companies actually adopt it. There’s even a longer lag between the emergence of an advance in a business process or technique and the time it takes to become mainstream. When we write our research agendas at the top of each year, we have to strike a balance between focusing on the new and different, which is still many years away from general acceptance, and the mainstream, which has been...
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Topics:
Big Data,
Planning,
Predictive Analytics,
Sales Performance,
Governance,
GRC,
Office of Finance,
Budgeting,
close,
Operational Performance,
Analytics,
Business Analytics,
Business Collaboration,
Business Performance,
CIO,
Cloud Computing,
Financial Performance,
Governance, Risk & Compliance (GRC),
In-memory,
Workforce Performance,
CFO,
Risk,
CEO,
Financial Performance Management,
FPM
I recently started a series of blog posts on what CEOs (and for that matter, all senior corporate executives) need to know about IT. The first covered the high-level issues. As I noted there, it’s not necessary for a CEO of a company to be able to write Java code or master the intricacies of an ERP or sales compensation application. However, CEOs must grasp the basics of IT just as they must understand basic corporate finance, the production process and – at least at a high level – the...
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Topics:
Big Data,
Mobile,
SaaS,
Sales Performance,
Social Media,
Supply Chain Performance,
Customer,
ERP,
Operational Performance,
Business Analytics,
Business Collaboration,
Business Performance,
Cloud Computing,
Complex Event Processing,
Customer & Contact Center,
Financial Performance,
In-memory,
Information Management,
Workforce Performance,
CFO,
CEO,
PaaS
The business/IT divide is a barrier that prevents most companies from achieving their true performance potential. The divide has remained a constant impediment since the dawn of business computing six decades ago. It’s not necessary for a CEO of a company to be able to write Java code or master the intricacies of an ERP or sales compensation application. However, that CEO must master the basics of IT just as he must understand basic corporate finance, the production process and – at least at a...
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Topics:
Big Data,
Performance Management,
Sales Performance,
Supply Chain Performance,
Human Capital Management,
competition,
executive,
Operational Performance,
Business Performance,
CIO,
Cloud Computing,
Customer & Contact Center,
Financial Performance,
In-memory,
Workforce Performance,
CFO,
IT,
CEO,
FPM
For the past several years Ventana Research has focused more on analytics and their importance to improving business performance. We’ve done extensive benchmark research in business analytics, detailing how they are used generally in business and in major functional areas of companies as well as their application in specific industries. We adopted this focus because technology advances are changing the landscape of analytics. Its use in business management, for example, is getting new scrutiny...
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Topics:
Big Data,
Performance Management,
Planning,
Sales Performance,
Supply Chain Performance,
Human Capital Management,
Modeling,
Office of Finance,
Budgeting,
driver-based,
Operational Performance,
Analytics,
Business Analytics,
Business Performance,
Customer & Contact Center,
Financial Performance,
In-memory,
Workforce Performance,
best pracices,
business value,
cash management,
challenge,
financial planning
For me, the most significant announcement to come out of the recent SAPinsider conference was the company’s formal release of Business Planning and Consolidation (BPC) running on HANA, SAP’s in-memory computing appliance. For me, HANA is a potential “game changer” for planning, statutory consolidation and other analytics-supported financial processes because of the substantial reduction it enables in processing time from loading to reporting. In-memory systems provide a substantial edge in...
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Topics:
Big Data,
Mobile,
Planning,
Sales Performance,
SAP,
Social Media,
Supply Chain Performance,
Customer Experience,
ERP,
GRC,
Office of Finance,
Budgeting,
IFRS,
XBRL,
Operational Performance,
Analytics,
Business Analytics,
Business Collaboration,
Business Mobility,
Business Performance,
Cloud Computing,
Financial Performance,
In-memory,
Workforce Performance,
finance,
Financial Performance Management,
GAAP,
HANA
One trend in business software that’s still in its early stages but gathering momentum is the availability of modeling tools that fill the gap between desktop spreadsheets and enterprise systems. Granted this “early stage” has been under way for quite some time, but the technology has finally progressed to the point where I expect it to get increasing market traction.
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Topics:
Big Data,
Database,
Planning,
Sales Performance,
Forecast,
Office of Finance,
Essbase,
Quantrix,
Operational Performance,
Analytics,
Business Analytics,
Business Collaboration,
Business Intelligence,
Business Performance,
Financial Performance,
In-memory,
Workforce Performance,
finance,
analysis,
analytical application,
business model,
business plan,
financial model
We recently published the results of our benchmark research on Big Data to complement the previously published benchmark research on Hadoop and Information Management. Ventana Research undertook this research to acquire real-world information about levels of maturity, trends and best practices in organizations’ use of large-scale data management systems now commonly called Big Data. The results are illuminating.
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Topics:
Big Data,
Sales Performance,
Social Media,
Supply Chain Performance,
Operational Performance,
Business Analytics,
Business Intelligence,
Business Performance,
Customer & Contact Center,
Financial Performance,
In-memory,
Workforce Performance
Risk has always been an integral part of business, but as I’ve noted, companies deal with risk with varying degrees of effectiveness. A complex, ongoing process, operational risk management identifies risks to support successful operations of an organization, estimates the monetary and other measurable impacts if a risk event occurs, establishes methods for mitigating the severity of impacts should they occur, continuously measures the probability of a risk occurring within a relevant period of...
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Topics:
Big Data,
Performance Management,
Sales Performance,
Governance,
GRC,
Office of Finance,
Reporting,
balanced scorecard,
enterprise risk management,
KRI,
Operational Performance,
Business Analytics,
Business Performance,
Financial Performance,
In-memory,
Risk
Management decision-making typically involves a three-step process of inform, analyze and act. In the earliest days of what came to be known as business intelligence, developers created decision support systems that provided information and analytics to help executives and high-level managers choose the best course of action. Working with numbers rather than gut instinct still is viewed as a best practice. After all, a pilot who doesn’t trust his or her instruments is heading for an accident.
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Topics:
Big Data,
Performance Management,
Planning,
Sales Performance,
Supply Chain Performance,
Modeling,
Office of Finance,
Budgeting,
closed loop,
contingency planning,
driver-based,
driver-based planning,
Operational Performance,
Analytics,
Business Analytics,
Business Collaboration,
Business Mobility,
Business Performance,
Cloud Computing,
Customer & Contact Center,
Financial Performance,
In-memory,
Workforce Performance,
best pracices,
business value,
cash management,
challenge,
financial planning
At its annual Influencer’s Summit in Boston, SAP offered multiple perspectives on where the company’s strategy and products are heading. Overall, I was struck by the essential similarities to its message on its strategic direction a decade ago. The overarching objective in its roadmap now, as then, is to have information technology increasingly adapt to the needs of individual users and how they choose to execute established/repetitive or ad-hoc processes, rather than forcing them to adapt to...
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Topics:
Performance Management,
Planning,
Predictive Analytics,
Sales Performance,
SAP,
Supply Chain Performance,
ERP,
GRC,
Office of Finance,
Operational Performance,
Business Analytics,
Business Collaboration,
Business Mobility,
Business Performance,
Cloud Computing,
Enterprise Software,
Financial Performance,
In-memory,
Mobility,
Workforce Performance,
finance,
Risk,
Financial Performance Management
Over the past six years big technology corporations have been acquiring all sorts of software companies, accelerating a general consolidation of the software industry since the dot-com boom ended in 2001. The consolidation has been driven in part by the deceleration of technology innovation in the business software market. Technology evolution, however, has been steady and progressed far enough now that I think we’re about to witness a revolution in how companies use analytics in business...
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Topics:
Big Data,
Mobile,
Planning,
Sales Performance,
Supply Chain Performance,
Budgeting,
Operational Performance,
Analytics,
Business Analytics,
Business Collaboration,
Business Intelligence,
Business Mobility,
Business Performance,
Cloud Computing,
Financial Performance,
IBM,
In-memory,
Workforce Performance,
Cognos,
acquisition