This article will focus on Cloud-Based analytics for Banks in the Era of Data Hackers.
Getting to know all about you – A $1 Billion Credit Union recently approached me wanting to know my methodology to Corporate Performance Management (CPM) before they wanted to see a product demonstration.¬† Their ultimate goal is to have me perform a Data Analytics Assessment to see how good their current CPM process is before recommending any improvements. Read more
This article will focus on the Top Cloud-based Financial Planning &Analysis (FP&A) Budget Tools for Banks.
The way things used to be ‚Äď When I first got into building a budget for a bank, we were using Lotus 1-2-3 spreadsheets that were stored on 5¬ľ inch floppy disks.¬† The spreadsheet was basically a 24-month trial balance for each branch or department.¬† The first eighteen months contained historical balances.¬† The remaining eighteen months were the forecast for the rest of the current year and budget for next year.
This article will focus on Cloud Financial Reporting and Budgeting for Banks.
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.¬† Read more
This article will focus on Cloud Reporting for Banks.
Just what is Cloud Reporting? ‚Äď 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 ‚Äúin which one or more of these elements is implemented in the cloud‚ÄĚ qualifies as cloud analytics. Read more
This article will focus on Web-based Reporting for Banks.
Who cares about web-based reporting for banks?¬†When we think about reporting for banks, we often think about accountants, controllers, and CFO‚Äôs.¬† According to The Wharton School, accounting is considered the language of business.¬† The story of any company, no matter the size, the industry, or the country of origin, is told through its financial records and reports. Read more
This article will focus on BI Tools for Banks. Business Intelligence (BI) definitions¬†‚Äď¬†TargetTech¬†defines BI as a technology-driven process for analyzing data and presenting actionable information to help corporate executives, business managers and other end users make more informed business decisions.¬†Gartner¬†says that BI is an umbrella term that includes the applications, infrastructure and tools, and best […]
This article will focus on FP&A Tools for Banks. So what does a FP&A manager do? ‚Äď Here is a position description for a Manager of Financial Planning and Analysis tools for a bank in Atlanta. The FP&A Manager will be a key finance and analysis partner for multiple lines of business within the organization. […]
This article will focus on Forecasting Methods for Banks. Have you done this? ‚Äď 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 […]
This article will focus on Strategic Planning for Banks. Why I hate the first six weeks of the year ‚Äď¬†If you have been a member of any gym for more than a year, you will know what I am talking about.¬† Whether you go to the gym twice a week or all seven days, you […]