The era of CFOs as gatekeepers who primarily oversaw transactions is over. To grow aggressively, companies need a modern approach to business analytics. CFOs need real-time insight, context around data, and collaboration capabilities to take their business to the next level. Real time insight from big data and modern systems give CFOs the data they need to improve decisions, reduce risk and improve performance.
2. Enterprise Performance Management (EPM)
solutions have definitely evolved through the ages.
Today you need new ways of looking at your business
and modeling change − not the unkept promises
of slow, expensive and unreliable legacy solutions.
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The Journey
Counting Beans
The traditional analytics offerings − big and bulky and still
relevant for some analytics jobs but inflexible, slow and
expensive
Year 2000
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The Journey
Excel Hell
Analytics on 250 separate
Excel documents. Risky,
complex and understood
by only a select few within
an organization.
Year 2007
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The Journey
Collaborative and Mobile
Business Planning
New business performance
management offerings leverage
the cloud on any device, involving
people from across the business
to drive a data-driven culture.
Today
6. Why Legacy EPM Fails and Modern EPM Prevails
The era of CFOs as gatekeepers who primarily
oversaw transactions is over.
The dark days of information trapped in
systems only accessible by the few in finance
are numbered.
To grow aggressively, companies need a
modern approach to business analytics.
They need applications that are cloud-based,
mobile-first and field ready.
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CFOs Who Don’t Embrace These Technologies
will be Left Behind
They need real-time insight, context
around data, and collaboration
capabilities to take their business
to the next level.
According to Gartner [1], CFOs are
involved in 84% of all IT decisions.
• Making the right technology decisions has
never been more important.
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Is your Finance Department ready for the future?
The cloud is the way smart
business do business − and
it’s here to stay.
IDC [2] research predicts cloud
technology spending will grow
by 25 percent in 2014, reaching
over $100B.
Cloud
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Is your Finance Department ready for the future?
Mobile is now the de facto way
for business users and consumers
to devour and act on data.
Technologies that aren’t designed to
work on every mobile device will lose
market share in the coming year.
Mobile First, Web Always
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Is your Finance Department ready for the future?
According to a recent survey
by research and consulting firm
McKinsey [3] & Co., more than a third
of C-level executives predicted that
successfully leveraging big data − along
with mobile, social and cloud computing
− would boost their operating profits by
10% in just three years.
Big Data
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Is your Finance Department ready for the future?
The average company spends 4 months budgeting
using legacy technologies.
Error prone spreadsheets are usually to blame, and they’re
costing companies 4 months every year that could be spent more
productively.
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Is your Finance Department ready for the future?
In contrast, companies using
modern business performance
management spend only 14 days
forecasting because their analytical
processes enable fast, accurate and
data-driven decisions.
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Advantages to a Cloud-Based, Modern
Approach to Business Performance & Analytics
According to a July 2013 Gartner[1] report, CFOs
stated their #1 priority in the coming year is growth.
And they state that business analytics
and performance management will be their most
important tool for achieving growth.
With legacy systems it can take weeks to close the
books, but businesses today move in real-time.
Can you afford to stick with technologies that can’t
keep up with the pace of business?
• And will you wait until your competition adopts them and
you are left behind?
14. Are you ready to again pay that $250K maintenance
bill from your legacy vendor for zero innovation on a
product that’s 20 years old? Modern Performance
Management in the cloud gives you more accurate,
predictable results for competitive advantage,
without the huge price tag.
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The Choice is to Eat or Be Eaten
Real Time insight from big data and
modern systems gives CFOs the data
they need to improve decisions, reduce
risk and improve performance.
Using old data is like choosing your clothes on yesterday’s
weather report. Hope you don’t forget
your umbrella!
Advantages
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The Choice is to Eat or Be Eaten
Context around data − You
need it to extract value
Modern business analytics use
context to pinpoint where to place
resources so that your business
runs more efficiently. Would you
rather use a GPS or a fold out map?
We thought so.
Advantages
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The Choice is to Eat or Be Eaten
Collaboration is Key
Your finance department is only one
department − but by integrating all
departments and roles within your
organization, budgeting and forecasting
becomes dynamic and effective. No
more Excel Hell − need we say more?
Advantages
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The Choice is to Eat or Be Eaten
StorylinesTM Makes It Clear
The ability to see and share actionable
visualizations that dynamically tell the story
of a company’s performance in the context
of data driven decisions that make sense of
massive amounts of internal and external
data in real-time. Data that everyone can
see, share and understand.
Advantages
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CFOs need modern solutions to realize the full
potential of their business − they need platforms built
for the cloud, for any mobile device and designed to
take in real-time data from virtually any source.
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They need solutions that replace annual budgeting with
planning that are always current, saving time and
resources and driving a culture of performance across the
company. Only then will they move from bean counters to
business performance management champions.
Modern Solutions:
• Improve decision making
• Reduce risk
• Improve business performance
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Footnotes
[1] Gartner, July 31, 2013. Tech Go-to-Market: Best Practices for Selling Services or Solutions
[2] IDC Worldwide ICT Industry Predictions 2014
[3]McKinsey & Company Global Survey, “Minding Your Digital Business”, 2012
Still considering keeping your legacy EPM
platform?
Consider This: That’s like managing the next 10 years
of business performance with a platform built for the
last 10.
22. Are you ready to make the change?
Start your transformation today at
www.tidemark.com
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