And just like that, Focus 2017 has come and gone. For the planning committee at Solver, charged with the planning and execution of the 5th annual user conference for the community of BI360 customers and partners, it is bittersweet. To me, the best conferences can seem like summer camp for adult professionals, as you step out of your routine and your life to take up residence at a specific locale that is an all-inclusive on learning new skill sets, making new connections, and having fun. And Focus never disappoints in the context of this analogy. This is the fourth year I have attended the event, and it was such a joy to see familiar faces and share memories from past years with new faces at the ample networking opportunities. This blog entry will recap the highlights from this year’s Focus event.
When I first attended Focus in 2014, I was relatively new to the corporate performance management (CPM) space. I was starting to understand the ins and outs of financial and operational reporting, budgeting, forecasting, and modeling, data visualizations like dashboards of graphs, charts, and scorecards, and data warehousing as solutions to organizational performance management. But everything became three-dimensional to me at Focus. A community of hard-working and fun-loving BI360 users came together to share and compare best practices, learn about the power of the product, and network with new and established connections alike. Frankly, it was really sweet – and felt more like the most productive and educational family reunion rather than a formal conference. This article will explore what unfolds at this annual event – and why it’s as successful as it is, but also what to expect from the 2017 edition.
This article explores financial planning and analysis in the cloud for your CPM strategies.
In the budgeting and forecasting realm, Financial Planning and Analysis (FP&A) is becoming more and more relevant. Most mid-sized and large companies have dedicated professionals in FP&A roles due to the constant evolution of finance and the reach across the enterprise. If you are not familiar with FP&A, this article will cover the benefits of cloud for your finances and hopefully, answers any questions you may have regarding to FP&A and the cloud. Continue reading
This article will focus on simplifying customer profitability analysis for banks.
Just what is that account worth to you? A rich man was walking through the streets of New Delhi one day when he happened upon a beggar. The beggar had reached out his hand and asked, “A few grains of rice for a poor and starving man?”
At first glance, you would have thought that the rich man would have passed the offensive smelling obstacle without giving him a second thought. Amazingly, he stopped. He asked to see what the worthless man had in his cup. Five grains of rice were all that he had to his name. Continue reading
This article will focus on Excel Budgeting on Cloud for Banks.
Nothing is easier than Excel – When it comes to budgeting for a bank, it all starts with the balance sheet. The main component of a bank’s revenue comes from the interest earned from loans and paid on deposits. To budget interest, you will need to figure out what the existing loan and deposit balances will look like over the next several months.
On this blog, we have been discussing the service packages that can come with ownership and management of a cloud Corporate Performance Management (CPM) and/or Business Intelligence (BI) solution – and so far, we’ve explored the importance of support and consulting. This article will explore the final component – why training? Wasn’t consulting enough? Is it an essential part of the experience of owning and mastering the management of your cloud BI or CPM tool? This article will set out to answer these questions and more about the relevance of training to your daily work within a cloud BI or CPM solution.
This article will focus on Cloud-based Business Intelligence Solutions for Banking.
Why do I love my iPod Classic? – I got my 80GB iPod Classic around 2007. I was able to load all 14,000 songs from my library onto it. I created several playlists that helped me organize the songs. One playlist consisted of heavy metal that got me amped up before going to the gym. Another playlist contained acoustic folk songs that were for the morning after a late night of fun. Continue reading
This article will discuss the process of preparing for a successful financial reporting implementation.
In the modern business realm, you cannot avoid financial reporting. Whether it is a homegrown Excel process, a legacy software program, an independent software vendor (ISV), or a native enterprise resource planning (ERP) report writer, every company is doing it. Investing in your first modern reporting tool typically means automated financial statements, accessible collaboration, modern security, and self-service analytics. Don’t worry if it sounds like gibberish to you. In this article, we will discuss preparing for your first reporting implementation so you are able to select the best reporting tool to navigate your organization in managing and analyzing data.
This article will focus on Cloud Reporting for Banks.
Just what is Cloud Reporting? – TechTarget defines Cloud Analytics as a service model in which the reporting and analysis process are provided through a public or private cloud. These solutions are typically offered under a subscription-based pricing model called Software as a Service (SaaS). Gartner defines the six key elements of analytics as data sources, data models, processing applications, computing power, analytic models and sharing or storage of results. In its view, any analytics initiative “in which one or more of these elements is implemented in the cloud” qualifies as cloud analytics. Continue reading
This article will focus on Forecasting Methods for Banks.
Have you done this? – According to Nasdaq, the consensus Earnings per Share (EPS) forecast for Bank of America for the years 2017, 2018, and 2019 is $1.73, $2.03, and $2.19 respectively. How did they come up with these numbers? If I told you that an analyst for Nasdaq went to the corner fortune teller and asked them to divine the numbers, you would laugh at me. Or if I told you that they called three different gas stations for their price of gas for their research, you would say that the information was irrelevant. Continue reading