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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.  […]

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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The information you are reading is more than 2 years old and may be outdated.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The information you are reading is more than 2 years old and may be outdated.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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This article discusses budgeting and forecasting solutions for Manufacturing and Distribution companies using Microsoft Dynamics NAV, zooming in on features and functionalities.

Whether you’re putting together a budget, a forecast, or a what-if scenario for your organization, they all entail historical actuals and projections, so you can plan for managing your specific manufacturing or distribution corporation, maneuvering around obstacles and seizing opportunities in the upcoming period.  There are a plethora of software options for manufacturing and distribution organizations relying on Dynamics NAV that can expand your planning processes, whether you craft your own budgeting solution, rely on native Dynamics NAV functions, or opt for an independent software vendor (ISV) solution.  This article will discuss your best options for today’s budgeting, forecasting, and modeling demands, specifically to meet your manufacturing or distribution planning objectives with Microsoft Dynamics NAV.
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This article lays out your options for modern financial consolidations solutions to take Microsoft Dynamics NAV processes to the next level for retail organizations.

There are plenty of Microsoft Dynamics NAV retail users who are managing a parent company’s financial portfolio with one or more subsidiaries.  Combining transactional and operational information from a number of entities, at times with multiple currencies, can be a challenge without a modern financial consolidations tool.  As the size and significance of data continues to grow, organizational decision-makers nearly require a software that can assist in consolidating data into a unified set of financial statements.  If you’re relying on Dynamics NAV for your retail business, this article will aim to lay out your options for a business user friendly, powerful consolidations solution.
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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 discusses budgeting and forecasting solutions for Professional Services teams, zooming in on the top feature and functionalities for Dynamics AX users.

Budgeting can be challenging, regardless of your industry, but fortunately, it is getting more dynamic and user friendly with today’s solutions to upgrade your Microsoft Dynamics AX tasks.  For Professional Services organizations, planning is just as important, but is unique to the nature of the sector – and this is true for most industries, regarding particular budgeting demands.  Plenty of companies are still utilizing Excel for homegrown budget processes, but today’s budgeting demands are more sophisticated than what the spreadsheet application can deliver.  If you’re seeking an independent software vendor (ISV) budgeting tool that enables you to pull historical data from Dynamics AX, as well as payroll and other company- or industry-specific data sources for an aggregated financial plan that is the result of collaboration, this article is a must-read.
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This article will discuss your options for the best financial consolidations solution to expand your Microsoft Dynamics AX experience as a retail company.

There is a population of retail Microsoft Dynamics AX users who are overseeing the financials for a parent organization’s multiple subsidiaries.  Aggregating operational and transactional data from multiple entities, sometimes with more than one currency, can be challenging without one of today’s financial consolidations solutions.  As the amount and importance of data steadily grows, corporate decision-makers can’t avoid needing a solution that can help consolidate information into a singular set of financial reports.  If you are using Dynamics AX as a retail company, this article will hopefully help you familiarize yourself with options for an easy-to-use, dynamic consolidation software.
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