Financial Performance Management - Achieving A Global One Truth
Over the past decade, businesses have sought to enhance Value Adding Financial Reporting by aligning diverse users of financial performance data and streamlining multiple data inputs. A robust technology platform is essential for Finance Managers to convert insights into actionable information for key business decision-makers. A global leader in skylight and roof window sales began this journey years ago, establishing a central services organization under the guidance of their CFO. By outsourcing and automating traditional accounting processes, they eliminated redundancies and improved efficiency, allowing the finance team to focus more on supporting business operations. The company then adopted a Beyond Budgeting approach, shifting from historical budget comparisons to monthly updated forecasts, which prompted strategic discussions and routine course corrections. This transformation necessitated a unified IT platform, resulting in what they call the "ONE TRUTH" Financial Data Source. As the business continues to grow through acquisitions, the Finance Performance Management team emphasizes turning data into decision-making capabilities, leveraging automation and advanced analytics to maintain their leadership position. The collaboration between IT, finance, and business leaders is crucial in synthesizing data from across the organization to ensure effective insights are readily available.
By: olivermathew
22-Oct-2024 06:39 pm
User Website : https://www.managefinancemagazine.com/news/financial-performance-management-achieving-a-global-one-truth-nwid-31.html
Other Submission of olivermathew
We provide a comprehensive one-stop shop for all of your vehicle rental requirements in Gujarat's major metropolis. You can now change the time format...
olivermathew Details
Name : |
olivermathew |
Email : |
oliver.mathew@gmail.com |
Joined Date : |
22-Oct-2024 05:35 am |
City : |
|
State : |
|
Pincode : |
|
Address : |
|
Follow us on Facebook : |
|
Follow us on Twitter : |
|
Website Name : |
Other Related Submission Of Other
Craving traditional Indian ingredients? Our online platform offers a wide range of groceries, from spices and snacks to fresh produce, delivered direc...
Make your Diwali celebrations special by gifting beautifully curated Diwali gift baskets. Each basket is filled with traditional Indian sweets, dry fr...
Show:
Capella School stays at the front of innovative heading, offering FlexPath assessments and shocking electronic class...
Sudbury Minicabs is the leading provider of premium minicab services in London Sudbury and its surrounding areas. Whether you require a minicab for a ...
Feltham Minicabs is the leading company that provides minicab service in London Feltham and its surrounding areas. Whether you need a minicab in Felth...