Your Annual Financial System Health Checkup

Posted by Steve Berry

Jul 18, 2019 2:07:15 PM

Even people who believe they are in good health should get an annual physical exam. The same goes for the technology ecosystem keeping your company’s financials alive.

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Topics: Technology Insights, Cloud EPM, Finance Best Practices, Finance Operations, Enterprise Performance Management (EPM)

Plans, Budgets, Forecasts — What’s the Difference?

Posted by Steve Berry

Jul 5, 2019 12:16:24 PM

Although they may seem similar, the three phases of financial management — planning, budgeting, and forecasting — are significantly different and yet highly interdependent.

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Topics: Budgeting and Forecasting, Technology Insights, Finance Best Practices, Finance Operations

SaaS or Cloud? Which Is Better?

Posted by Steve Berry

Jun 20, 2019 1:26:19 PM

Although the two terms are often used interchangeably, there is a big difference between software as a service and cloud. The difference is especially important for finance.

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Topics: Technology Insights, Backup and Recovery, Managed Services, Risk and Compliance, Finance Best Practices, Finance Operations

Leverage the Cloud for Regulatory Compliance

Posted by Steve Berry

Oct 12, 2018 5:28:48 PM

Do-it-yourself might not be the best way to comply with regulations like the Sarbanes-Oxley Act (SOX) — not when you can use an environment already tested and approved.

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Topics: Managed Services, Risk and Compliance, Finance Best Practices, Managed Application Services (MAH)

Get Stakeholders on Your Side in EPM Projects

Posted by Adib Khartabil

Aug 27, 2018 8:00:00 AM

The most important part of any EPM project is getting great stakeholder support — because getting great enterprise performance is the job of everyone who works there.

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Topics: Implementation or Upgrade, Finance Best Practices, Enterprise Performance Management (EPM)

Interactive Data Reporting: A Model for Smart Financial Management

Posted by Steve Berry

Jul 24, 2018 8:45:00 AM

Over 40 years ago, Saudi Oil Minister Sheikh Yamani was quoted for this insightful thought on global development: “The Stone Age did not end for lack of stone, and the Oil Age will end long before the world runs out of oil.”The world economy now turns on something more valuable than petroleum: DATA. Unlike oil, data isn’t in jeopardy of depleting. Over the last 20 years, enterprises of all types have faced an ever-growing wave of data growth – with many just trying to stay ahead of that wave by capturing and storing it. The idea of actually making use of it has been an evolving challenge. This blog post explores the evolution of interactive data reporting and modeling.

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Topics: Consolidation and Close, Budgeting and Forecasting, Finance Best Practices, Finance Operations

5 Ways to Improve Your Month End Close Process

Posted by Adib Khartabil

Jul 18, 2018 1:50:00 PM

The three legs to the stool: People, Process and Tools. This is borrowed from ITIL* (What is ITIL?) and is a set of detailed practices for IT service management (ITSM) that focuses on aligning activities with the needs of business, or in this case improving your month end close process. These practices can be applied to any activity by

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Topics: Consolidation and Close, Financial Reporting, Finance Best Practices

Your Financial Close Impacts Enterprise Performance

Posted by Steve Berry

Jun 25, 2018 12:15:00 PM

It’s not just the financial numbers that show how well you perform as an organization — but also how well and how fast you can obtain those numbers and how the financial close impacts EPM processes.

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Topics: Consolidation and Close, Cloud EPM, Oracle FCCS, Finance Best Practices, Enterprise Performance Management (EPM)

Bringing AI and Predictive Analytics to EPM

Posted by Adib Khartabil

Jun 21, 2018 10:57:00 AM

Advances in business technology since the advent of the PC have had exponential effects upon how entities budget, plan and report their results since the early 1980’s.  Lotus 123’s (later Excel’s) contribution to budgets and forecasts is immeasurable.  Thus, came the creation of “spreadsheet hell” that most currently active and experienced finance, accounting and

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Topics: Budgeting and Forecasting, Hyperion Planning, Oracle PBCS, Data Quality Management, Finance Best Practices, Enterprise Performance Management (EPM)

EPM Architecture Is Bigger Than Finance

Posted by Steve Berry

Jun 19, 2018 9:35:00 AM

Money decisions made without operational guidance are just as risky as those made without financial guidance. Your EPM architecture should integrate both sets of knowledge.

Should a home appliance manufacturer move some of its production offshore in order to reduce payroll expense even if it means higher transportation costs, greater supply chain complexity, and longer

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Topics: Cloud EPM, Finance Best Practices, Finance Operations, Enterprise Performance Management (EPM)