Unlocking Strategic Potential: 400% More Time for Strategy

In order to effectively navigate the ever-changing business landscape and capitalize on emerging opportunities, successful enterprises rely on management teams that can swiftly adapt and seize new possibilities. To achieve this, decision-making teams require access to accurate and comprehensive data from all areas of the organization. However, many organizations face obstacles due to outdated and fragmented technology and processes. These disjointed systems hinder the availability of valuable data, leading to delays in analyzing consolidated results and restricting the team's ability to respond quickly.

The High Costs of Legacy Processes

Without agile tools for planning and consolidation, finance teams risk falling behind. And a majority of organizations are missing out on advantages finance could bring them. Consider:

? 73% of finance teams compile company data manually or run their forecasts and scenario planning offline, according to Deloitte Insights .

? 76% of CFOs say that their organizations struggle to plan without one consolidated source of truth across business units, according to 埃森哲 .

? 50% of CFOs say they make financial decisions based on gut instinct, because data is siloed or otherwise not readily available, according to a Workday survey.

An agile purpose-built planning and consolidation platform can help finance teams streamline financial reporting and company-wide planning. With a more reliable data foundation and automated data management, this technology can ensure more accurate and efficient financial close and planning cycles.

400% More Time for Strategy

By utilizing a modern, comprehensive planning and consolidation platform, organizations can seamlessly merge data from various sources, foster smooth collaboration among teams, and effectively manage organization-wide budgets, forecasts, and plans. This empowers management to dedicate more time towards creating, analyzing, and comparing an extensive range of scenarios, enabling them to make better preparations for the future.

Switching from outdated legacy systems to a centralized data platform resulted in a 400% boost in time available for strategic tasks for a company's management team. This improvement came after moving away from manual data collection through isolated legacy technology for forecasting and scenario planning.

By transitioning to a streamlined platform, teams can save time and avoid data errors, while also benefiting from a centralized source of accurate information. This eliminates the need to reconcile conflicting reports or data, allowing for a more efficient approach to cross-functional projects.

Maximizing Performance with ERP- Enterprise Performance Management (EPM) platform

Enterprise Resource Planning (ERP) systems play a crucial role in enabling a EPM platform by providing a centralized framework for integrating various business processes and data sources. Here's how ERP helps in achieving this:

1) Centralized Data Management: ERP systems serve as a central repository for all business data, including financial, operational, and transactional data. This centralized data repository is essential for EPM as it provides a single source of truth for performance measurement and analysis.

2.) Data Integration: ERP systems integrate data from various departments such as finance, human resources, supply chain, and sales. By consolidating data from different sources, ERP facilitates comprehensive performance monitoring across the organization.

3)? Standardized Processes: ERP systems enforce standardized business processes across the organization. Standardization enables consistent data collection and reporting practices, which are essential for accurate performance measurement and analysis within an EPM platform.

4) Real-time Insights: ERP systems provide real-time access to critical business data. This real-time data availability enables timely decision-making and allows organizations to monitor performance metrics continuously.

5) Streamlined Reporting: ERP systems offer robust reporting and analytics capabilities, allowing organizations to generate customized reports and dashboards to track key performance indicators (KPIs). These reporting tools are essential for EPM platforms as they enable stakeholders to gain insights into the organization's performance.

6) Improved Planning and Forecasting: ERP systems support planning and forecasting activities by providing historical data and predictive analytics capabilities. By leveraging ERP data, organizations can develop more accurate forecasts and make informed decisions to drive performance improvements.

7) Alignment of Strategy and Execution: ERP systems help align organizational strategy with operational execution by providing visibility into how business processes and activities contribute to strategic objectives. This alignment is critical for effective performance management within an EPM platform.

8) Scalability and Flexibility: ERP systems are designed to scale with the organization's growth and adapt to changing business requirements. This scalability and flexibility ensure that the EPM platform can evolve alongside the organization and continue to support its performance management needs.

9) Data Quality Management: ERP systems often include features for data quality management, such as data validation rules, duplicate detection, and data cleansing tools. These features help identify and rectify data errors, inconsistencies, and duplicates, improving the overall quality and robustness of the data.

10) Automate Performance Monitoring: Leverage automation capabilities within the ERP system to monitor key performance indicators (KPIs) and metrics in real-time. Set up alerts and notifications to proactively identify performance issues and take corrective actions as needed.

11) Drive Continuous Improvement: Use the insights gained from performance data to drive continuous improvement across the organization. Identify trends, patterns, and opportunities for optimization, and implement initiatives to enhance performance and achieve strategic objectives.

The integration of EPM enables industries to harness the power of a unified and reliable data source, along with automated planning and analysis tools. This integration can lead to increased productivity, cost savings, and expedited decision-making by the finance team, ultimately benefiting the entire organization.