Analyst Perspectives

Products and services are the foundation of every organization, regardless of its industry or size. Products are essential to an organization’s overall business health because they generate revenue and engage buyers and customers. In a black-swan event, demand for a product may spike or dip, so in these situations it’s of the essence that products get the attention they deserve as they are...

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...

The workforce is the center of any organization, no matter if the workforce consists of employees, contractors or what we call gig workers. It stands to reason that a black-swan event has an immediate impact on a workforce and thus an organization’s overall business health. In challenging times, a “family-first” mentality tends to take hold — a reality that, far too often, business leaders and HR...

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...

Suppliers play a critical role in supporting the operations and processes of every organization. Whether direct or indirect, an organization’s relationship with its suppliers has ramifications that are perilous to underestimate. The imperative to maintain business continuity becomes painfully clear in a global pandemic, and that imperative demands that organizations cultivate excellent supplier...

Supercharging the customer experience (CX) is more than just an opportunity. It’s essential for every organization that looks to optimize engagement at every moment of the customer journey. In times such as these, when business continuity is a top priority, organizations must address the customer experience, especially if it has not been a focal point of the executive team.

The imperative to infuse digital technology into your organization is not new, but it’s more essential than ever that organizations embrace digital transformation and business continuity to improve processes. I have recently written about the need for digital innovation in business continuity, outlining the steps every organization needs to take. These steps involve a close examination of the...

The global pandemic crisis was, in effect, an unrehearsed stress test measuring the resiliency of the department. The crisis highlighted the importance of sustaining confidence in the accuracy and control of accounting processes, not just efficiency. Virtualizing the close means using technology to substantially reduce the amount of manual processing and paper involved needed to complete the...

At Ventana Research we’re familiar with the need for digital transformation as we have been researching and providing education on this topic for almost two decades. And recent global challenges make even clearer the sea change at hand: digital innovation is essential for not only success, but survival. Business continuity during a pandemic, natural disaster, cyber event or geopolitical situation...

The Chief Financial Officer can enable her or his finance department play a more strategic role in company operations by adopting what I call profitability management. In the interest of time I’ve made this a very high-level description that’s intended to be just an introduction to the topic. Profitability management is a cross-functional effort. It integrates finance and sales to achieve an...

For decades I’ve heard people talk about cutting audit costs to reduce administrative overhead but based on my observations, I was skeptical — mostly because, until recently, the documented success stories haven’t been about going from good to great so much as going from awful to average. That’s changing. I recently wrote about a company that had set out to cut its external auditor’s fees. The...

Artificial intelligence (AI) and machine learning (ML) are all the rage right now. Our Machine Learning Dynamic Insights research shows that organizations are using these techniques to achieve a competitive advantage and improve both customer experiences and their bottom line. One type of analysis an organization can perform using AI and ML is predictive analytics. Organizations also need to plan...

I like Louis Pasteur’s observation that “fortune favors the prepared mind.” So-called black swan events happen regularly and can have a very negative effect on a business. Of course, risk is inherent in any commercial undertaking; organizations don’t succeed by being overly cautious and reckless ones usually fail after awhile. Those that are consistently successful are ones that manage risk...

I like Louis Pasteur’s observation that “fortune favors the prepared mind.” So-called black swan events happen regularly and can have a very negative effect on a business. Of course, risk is inherent in any commercial undertaking; organizations don’t succeed by being overly cautious and reckless ones usually fail after awhile. Those that are consistently successful are ones that manage risk...

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...

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...

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...

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...

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...

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...