10 wonderful years of driving digital transformation for the Finance and Accounting function.

10 wonderful years of driving digital transformation for the Finance and Accounting function....and we have just begun.

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#digitaltransformation #financialreporting #digitization #accounting #finance #financialconsolidation #cxos #epm #cpm

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The Mission to Make the CFO's life Easier

In today’s business context, life of a CFO is that of the radar as well as the captain of a moving ship. Today’s CFO is expected to contribute well beyond the traditional role of cost management and operational controls. The CFO needs to play a delicate balancing act across multiple dimensions, some of which include: Impact of globalization: having an effective finance function that can account for the increasing complexities of running a global business Regulatory adherence: Global regulatory requirements are constantly changing and continually increasing, and CFOs have a personal stake in regulatory adherence Risk management: the nature of risks that an organization faces keep changing Reporting requirements: managing the ever broadening and often burdensome reporting requirements The CFO needs to do all this, while also keeping a keen eye on rigorous ongoing cost management and operational efficiencies to fuel profitability and strategic reinvestment. All this under

5 Things to Consider Before Investing in a Financial Consolidation Software

In a recent conversation, the Chief Accounting Officer of India’s largest private enterprise mentioned that a good financial consolidation software would be of great service to the accounting community. His statement implying indirectly that in his many years of managing accounting for an extraordinarily large and complex organisation, he has still not come across a suitable enterprise platform for consolidation. It is but natural to assume that organizations would rid themselves of long days of manual financial consolidation and labour-intensive management and statutory reporting. The practice of being strapped to one’s chair and spending long hours into these activities must be shunned. Instead, quality time should be spent on analysis and decision making. Before you dive in to avail the perks of a financial consolidation software, it is crucial to know what to expect from the software. While there are many choices, one must exercise prudence in selecting the one that furthers

Getting out of Excel Hell!

…and why you should automate your management financial reporting. Excel is one of the world’s greatest desktop tools and many people love it because it is familiar and easy to operate. If you want to analyze a lot of numbers or do some complex modelling on a static dataset, it's hard to beat.I personally am a power user of excel and love the flexibility and ability to model various scenarios easily, and then analyse it. However, running a company involves collaborative, multi-department processes like planning, budgeting, forecasting, and reporting. It involves collating data from multiple source systems and people, curating & transforming it before it is ready for consumption. And that’s where the power of Excel falls short. Weeks are wasted every year, manually consolidating a mass of individual spreadsheets. Errors in cross-linkages, formulae getting converted to hard-coded numbers, manual errors, manual data entry, individuals having to laboriously search their computer

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