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The information you are reading is more than 2 years old and may be outdated. Read new blogs.
The information you are reading is more than 2 years old and may be outdated. Read new blogs.
Bank CFO

  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.  […]

The information you are reading is more than 2 years old and may be outdated. Read new blogs.
The information you are reading is more than 2 years old and may be outdated. Read new blogs.

This article will focus on what you will be looking for in a Performance Management Tool for Banks.

 

Image taken from Shutterstock.

Image taken from Shutterstock.


What is Performance Management?  According to the Harvard Business School, performance measurement focuses on four main areas:
-Communicating with external investors to ensure that a firm’s securities are fairly priced and that they are able to access capital
-Measure and evaluate a firm’s economic performance
-Improve resource allocation and strategy implementation within a firm
-Build accountability for performance through effective external and internal governance
 
The emphasis of this article will be on improving resource allocation and strategy implementation, specifically for banks.  Though banks have evolved over time, their basic function is to take in deposits and reinvest those funds back into the community in the form of loans for such things as houses, cars, education, and infrastructure.
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The information you are reading is more than 2 years old and may be outdated. Read new blogs.
The information you are reading is more than 2 years old and may be outdated. Read new blogs.

This article will focus on how Financial Reporting for Banks has changed overtime to be more forward looking.

Tell me what happened:  When I first started out as an Accounting Manager for a large regional bank, my job was to create monthly financials for each branch and tell them what they did last month.  Payroll, loan, and deposit information were already at the branch level in the general ledger; but not much else.
To improve the Financial Reporting for the bank, my job was to allocate all the other costs such as rent, FDIC insurance, funds transfer pricing, loan charge offs, and more to the branches.  This process took a team of five people a minimum of three weeks each month to accomplish.
Once everything was posted to the general ledger, my team would dump everything into a huge Microsoft Access database.  We then wrote a macro that would step through all four-hundred branches to create Excel workbooks on a hard drive.  Once created, we would print every report and send through interoffice mail.
By the time the branch network received their reports and started asking questions, we were already on the next month’s cycle.  Branches were always asking what happened and never got timely information to take corrective action.  It was just an endless cycle of number crunching and tree cutting.
Let’s speed things up:
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This article will focus on Microsoft Excel Reporting for Banks and how it has evolved over time.

Origins:  I met Harold as my new boss in 1989 when I became Controller for a small subsidiary of a bank.  At the time, I was a Lotus 1-2-3 disciple.  I was great at writing macros and spitting out reports.  The one thing I hated about Lotus, however, was its poor printing capabilities.
Harold introduced me to Microsoft Excel and its ability to set and preview the print area made me convert overnight.  Harold said he loved the ability to type numbers into Excel every month, so he could get a good feel for the financials.
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award-best-work-la-2019

This article focuses on the future of Dynamics GP Users and their Reporting and Budgeting tools.

Photo taken from Shutterstock.

Photo taken from Shutterstock.

Why are many companies still keeping their Dynamics GP ERP system on-premise when there is a cloud option available? Some may not know the options to migrate to the cloud. Others may feel safer using a more traditional platform. Microsoft just changed the whole game for Microsoft Dynamics Enterprise Resource Planning (ERP) users. A true cloud version of Microsoft Dynamics, Microsoft Dynamics 365, officially released this November 1st. Dynamics 365 lets companies combine CRM, ERP and Microsoft Office capabilities into the next generation of business applications in the cloud. This Azure-hosted Dynamics service seems to be the true future for many Dynamics GP customers. Therefore, if your company is slowly making its way to the cloud, and on premise tools are most likely developed less progressively, eventually moving to Dynamics 365 or other CRM/ERP tools seems a pretty interesting alternative. This article focuses on the steps your company will need to take when your ERP is moving to the cloud.
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This article will focus on platform options when investing in a new budgeting tool.

budgetingfordynamicsgp
Look, it seems like I’ve talked about anything and everything about budgeting so I went directly to the source – a team of consultants. I asked them what the common problem they face with their clients when it comes to budgeting, and surprisingly, they all had the same answer. The majority of their clientele has never had a professional budgeting system, nor did they have a satisfactory budget model that reflected how their business operates. As mentioned in the budget tools for Microsoft GP users replacing Forecaster article, there are around 48,000 GP customers out of 200,000 Dynamics ERP users, and if your company is either one of the 2,000 companies using Forecaster as a budgeting tool or one of the 90% or more organizations who create their budget in homegrown Excel models, this article is for you. In this article, I will discuss Excel- and Web-based Budgeting for Dynamics GP. Read more

The information you are reading is more than 2 years old and may be outdated. Read new blogs.