This article will discuss leveraging corporate performance management (CPM) solutions as a foundation for an enterprise technology cloud roadmap.
I find myself thinking about cloud technology all the time these days. And this is particularly peculiar when I zoom out and think about how I was an English major in college. However, cloud is permeating the culture – both popular and business – and I can’t help but think about how it is changing the way we store, manage, and leverage data. I have even seen memes on social media that make fun of the fact that we keep so many pictures – “for what?” is the punchline. The answer is because we can, and our massive and growing amount of data doesn’t bog down our devices because it is housed in the cloud. Beyond that though, in the business world, cloud as a platform follows the consumer marketplace trend of subscriptions to outsourced services as opposed to buying something outright. This is such a major shift in the business culture, and it creates a more efficient relationship in the context of technology management for both the vendor and the consumer. This article will explore the journey of transitioning reporting and budgeting solutions to the cloud – and suggest a starting place.
This article explores the cloud reporting options you have for replacing FRx and Management Reporter.
Sometimes, it’s hard for me to believe that some companies might still be using FRx, as the product was retired by Microsoft – and replaced with Management Reporter (MR) – years ago. But MSDynamicsWorld.com recently hosted a webinar about replacing either, and hundreds of registrants attended. When I zoom out and think about process overhauls or technology replacements that I have been a part of, for the most part, they generally haven’t happened rapidly. Also, we’re all regularly in the trenches of our jobs, in this case producing reports or consolidating company financials for an understanding of company health, so taking the time to research, watch demos, have calls with sales folks, and test the power and viability of a new product can be tough. But as companies look to replace FRx and MR and at the same time prepare for a future move to a cloud ERP system, we’re seeing a lot of finance departments take the first leap by implementing a modern cloud reporting and budgeting solution, proving that a true business improvement momentum is building in the enterprise technology sector. This article will discuss the power of cloud reporting options not only to replace FRx and MR, but also as a strategic catalyst for a bigger picture cloud technology migration.
This article will discuss the process of preparing for a successful financial reporting implementation.
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.
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.
This article focuses on using dashboards in monthly financial presentations for stronger decision-making.
Image taken from Shutterstock.
Graphics are everywhere. They are literally everywhere we go, filling our kitchen pantries and even the clothes we wear. Red Crow Marketing Inc. mentions that “digital marketing experts estimate that most Americans are exposed to around 4,000 to 10,000 advertisements each day.” If we’re drawn to visuals, doesn’t it make sense to apply visuals to your financial reports and presentations? Think about receiving multiple pages of spreadsheets full of data. Is this how you best extract your financial analysis at the end of every month? This is where a dashboard comes in handy. Dashboards are defined as charts, graphs, and scorecards that convey data trends, successes, and problem areas with key performance indicators (KPIs), whether you are looking at a store, region, product, and a corporate department in particular, or the entire organization. A dashboard presents key data from various financial and operational sources on a single page, and uses graphs and tables to summarize a large amount of data. In this article, Solver Controller Gina Louie will talk about her experiences in presenting month-end financial presentations to the management team.
This article will highlight the top 5 corporate performance management trends for 2017, zooming in on features and functionalities and looking at the bigger picture roadmap for the marketplace.
It’s that time of the year again – the beginning of the year, specifically – where we move from organizing ourselves and goalsetting to the work of achieving our objectives. There appears to be a collective understanding that 2016 was a rough year, at least in pop culture, no doubt a result of social media and specifically, the meme-driven culture. Regardless of your perspective on how the business world fared in 2016, a new year brings with it a chance to do better, to improve processes and outcomes of teamwork. And in that vein, this article will zoom in on the trends you can expect to see emerge for Business Intelligence (BI) and Corporate Performance Management (CPM).
Ever wondered why third party products are necessary with all the features and functions in Microsoft Dynamics GP for data analysis and management? This article will explore the concept of best-in-breed software for corporate performance management.
Recently, I saw a user on LinkedIn pose a question, asking fellow Microsoft Dynamics GP users if they had some documentation regarding why the Enterprise Resource Planning (ERP) system needs Independent Software Vendor (ISV) products. It was an interesting discussion, perhaps a challenge to ISVs, and a legitimate question for Microsoft fans. Several people chimed in, and a couple recurring comments seemed to organically surface.
While “Financial Reporting” often used to be synonymous with financial statements such as Profit & Loss reports, Balance Sheets, Cash Flow statements and consolidated reports, these days companies are using dual purpose tools like BI360 to also handle their operational reporting.
A quickly increasing number of BI360 users are developing operational reports such as:
– Reports help them manage inventories with details about standard cost, quantities and physical value.
– That shows purchase orders versus requisitions with related information about delivery dates, unit price, quantity ordered, purchase price and purchase quantity.
– Production orders with trend charts that quantities items ordered by date.
– Work-in-progress reports (WIP), quantity per order, how much of an order has been started and the WIP amount.
The above types of reports are particularly popular amongst Microsoft Dynamics AX customers because a good number of them are in manufacturing or related industries.
We also see more customers deploy the BI360 data warehouse in order to combine their ERP data with other operational data sources. Examples of these are healthcare providers that combine financial data with payroll and patient data to produce reports or dashboards that show average cost per patient day, statistical trends like Average Length of Stay (ALOS), etc.
As companies go operational with their reporting and the business users that truly understand the information needs of the business are able to design the reports, the result if often high value reports that earlier where non-existent or that had to be pieced together manually in spreadsheets.