Finance Transformation: Unleashing the Potential of Data

Will Newcomer’s insights on the benefits of automating one’s finance department functions via a single platform are captured in a just-published thought piece, “Finance Transformation: Unleashing the Potential of Data,” in CFO.com. The piece elaborates on how financial services companies are increasingly seeking ways to “squeeze more value out of the finance department” by automating data management, reconciliation and other accounting processes, but central to that effort is how to effectively integrate people, data and processes onto a single platform:

“The key to success in finance transformation is to understand and make the most of all the ways a fully integrated data solution can take charge of routine processes from front to back,” writes Newcomer. “While managing the routine, the solution also will generate better data, more rapidly for the higher-level analytics that finance uses in budgeting, forecasting, planning, and other key operations. Getting the ‘how’ right will help to optimize decision-making, operational efficiency, and ultimately profitability.”