Daniel Havey
Cloud-based BI Solutions for Banking

This article will focus on Cloud-based Business Intelligence Solutions for Banking.

 

bank dashboardWhy 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

Hanna Kim
How to Prepare for Your First Financial Reporting Implementation

This article will discuss the process of preparing for a successful financial reporting implementation.

Image taken from Shutterstock.

Image taken from Shutterstock.

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.

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Alex Geller
My Prediction: Convergence between Business Intelligence and Corporate Performance Management Vendors in the Mid-Market

This article will focus on the demand for convergence of Business Intelligence and Corporate Performance Management tools and why this benefits mid-market companies.

Image taken from Gartner.

The latest release of the Gartner Magic Quadrant for Business Intelligence strengthened my conviction that the market will see consolidation between the Business Intelligence/Visualization (BI) and Corporate Performance Management (CPM) vendors. Gartner classifies them in separate quadrants because the respective tools are evaluated differently during the sales process. Furthermore, BI tools usually sell into marketing and sales teams while CPM targets finance and accounting professionals. Consequently, there has been limited Mergers and Acquisitions (M&A) in the space. Note that this article assumes readers are familiar with the basic definitions to focus on a narrative explaining the demand for their convergence.

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Hanna Kim
Dashboards for Real Estate Companies Using Microsoft Dynamics GP

This article will discuss dashboard solutions for real estate companies that are seeking to enhance Microsoft Dynamics GP data analyses.

realestateVisualization has some beneficial side effects. Visualization improves your performance; helps reach your potential, increases focus, boosts confidence, and so much more. Think about professional athletes. For instance, everyone from tennis player Serena Williams to Arnold Schwarzenegger, who was a world champion body builder before he became an actor, have practiced visualization techniques. It makes sense to apply visuals to your financial reports and presentations. Think about receiving a stack of spreadsheets full of data. Is this how you extract your financial analysis? This is where a dashboard comes into play. The amount of data being created every year continues to grow tremendously. If your organization wants to make informed decisions, your company leaders need to be able to access and interpret data in real-time. The ability to act quickly on the data has become a competitive differentiator. A dashboard presents key data on a single page and uses visuals to summarize a large amount of data. In this article, we will discuss how dashboards will help real estate companies that are using Dynamics GP. Continue reading

Daniel Havey
Cloud Financial Reporting and Budgeting Software for Banks

This article will focus on Cloud Financial Reporting and Budgeting for Banks.

Image taken from Shutterstock.

Image taken from Shutterstock.

New technology has drastically changed the way we communicate. – My 18-year old daughter has just discovered the show called The Office starring Steve Carell.  The show came out in 2005 and we are wrapping up season two. What is striking is that all the sales representatives have flip phones and need to return to the office and login to their laptops or personal computers to transact business.  Continue reading

Daniel Havey
Cloud Reporting for Banks

This article will focus on Cloud Reporting for Banks.

Image taken from Shutterstock.

Image taken from Shutterstock.

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

Daniel Havey
Forecasting Methods for Banks

This article will focus on Forecasting Methods for Banks.

Image taken from Shutterstock.

Image taken from Shutterstock.

 

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

Daniel Havey
Budgeting Tools for Banks

This article will focus on Budgeting tools for Banks.

Photo taken from Shutterstock.

Photo taken from Shutterstock.

The Balanced Scorecard is finally in place, now what? The senior management of the bank came up with twenty-four key performance indicators (KPI’s) that will make up the bank’s balanced scorecard.  Everybody is excited about the new measures and is looking forward to see how they rank.  The first report comes out with a lot of fanfare.  The second report then comes out and nothing changes.  Hmmm.  Everyone thought performance would immediately start to improve.

 

What is missing?  Budget tools for banks!  Now that the bank knows what measures are important to implementing its strategy for success, it needs to come up with a way to set goals and targets for those various measures.  The first step in this process is to come up with a budget.  There are many approaches and tools for budgeting for banks.  This article will help you sift through the myriad budget tools for banks by coming up with a list of requirements.

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Daniel Havey
Balanced Scorecards for Banks

This article will focus on Balanced Scorecards for Banks.

 

Image taken from Shutterstock.

Definition:  According to TechTarget, a performance scorecard is a graphical representation of the progress over time of some entity, such as an enterprise, an employee or a business unit, toward some specified goal or goals. Performance scorecards are widely used in many industries throughout both the public and private sectors. The performance scorecard is an essential component of the balanced scorecard methodology.

 

The focus of this article will be on balanced scorecards for banks.  Implementation of the balanced scorecard for banks and financial institutions is a very tricky thing, according to BSC Designer, as there is huge temptation to focus on financial indicators only.  We all know that banks work with money to make more money.  So, it is very easy to ignore non-financial indicators that have a direct impact on financial performance of banks.

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Daniel Havey
Dashboards for Banks

This article will focus on the many types of Dashboards for Banks that are being used today to improve bank performance.

dashboardforbanksDefinition:  According to Wikipedia, dashboards often provide at-a-glance views of KPIs (key performance indicators) relevant to a particular objective or business process (e.g. sales, marketing, human resources, or production).  In real-world terms, “dashboard” is another name for “progress report” or “report.”

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