Infor (Parent)
The Impact Of Organizational Change On Financial Systems
• Flexibility and responsiveness. Cloud deployment allows organizations to bring new locations online quickly, reduces the risk of pursuing new strategies by eliminating the need to invest in additional hardware and staff, and enables companies to scale capacity up or down as needs change. This level of agility is essential to any organization operating in a highly competitive environment, particularly those with international operations or heavy M&A activity. • Improved regulatory compliance. System and process changes required for compliance can be pushed out quickly and all at once to a diverse and geographically distributed organizational footprint. EXTERNAL TECHNOLOGIES CAN BE...
• Flexibility and responsiveness. Cloud deployment allows organizations to bring new locations online quickly, reduces the risk of pursuing new strategies by eliminating the need to invest in additional hardware and staff, and enables companies to scale capacity up or down as needs change. This level of agility is essential to any organization operating in a highly competitive environment, particularly those with international operations or heavy M&A activity. • Improved regulatory compliance. System and process changes required for compliance can be pushed out quickly and all at once to a diverse and geographically distributed organizational footprint. EXTERNAL TECHNOLOGIES CAN BE GAME-CHANGERS As CIOs work to continually monitor and improve their internal environments, they should also explore external technologies that can, quite simply, be game changers. From integration technologies that increase visibility and monitoring applications that help minimize risk to business intelligence solutions that turn information into a strategic weapon, technology can mean the difference between a company that thrives and one that lags behind. The following list includes a few technologies that are increasingly being deployed by forward-thinking organizations: • Analytics and BI. Financial systems contain a wealth of actionable strategic information, and advanced analytics can harness this intelligence. BI is nothing new, but the spectrum of mature applications and new cutting edge capabilities (think Big Data) can give financial managers and the C-Suite unprecedented business insight, much of it in real-time. According to a 2013 Gartner study, 70% of high-performing businesses plan to manage their business processes using real-time predictive analytics by 2016.3 The CFO as Catalyst for Change: How Finance Can Take the Lead in Business Transformation; Research Report, Accenture, Longitude Research, Oracle Corp., May 23, 2013 3 • Continuous Monitoring. In this era of rapid regulatory change and increased oversight, firms cannot afford to take their eyes off the regulatory and compliance ball. Monitoring a company’s transactions and systems for breaches (unintentional or otherwise) is a job that, for many organizations, can no longer be managed effectively using manual means. Continuous monitoring automates the review of transactions for anomalies, guards against segregation of duty violations, and dramatically reduces the time needed to comply with audit reporting requirements. The risk of violations and the workload associated with staying in compliance are both significantly reduced as a result. • Mobility. The benefits of anytime, anywhere access to information are especially crucial to finance. Mobile capabilities are becoming the norm, as managers expect to be able to tap into financial data on their personal devices wherever they are. Cutting edge financial analysis now relies on financial managers’ ability to query and analyze real-time financials on a mobile device 24/7. CONCLUSION: THE CIO CAN HELP DEFINE SUCCESS OR FAILURE Organizational change is inevitable and has a serious impact on financial systems. How organizations handle it is becoming the defining difference between success and failure. CIOs can differentiate themselves and their departments by being fully informed about the implications of change on their finance systems and the options available to them in their choices of strategies, technologies, and systems. By adapting configurable, modular and integrated solutions, they will empower and best serve their finance teams now and for the foreseeable future.
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Infor (Parent)
Controlling cost in the food supply chain

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Infor (Parent)
Can Demand Planning unlock new profit potential fo...

Now that distributors are playing a unique and expanding value-add role in the total supply chain, they must become more proficient at understanding, predicting, and helping to shape demand for products. Moreover, given their proximity to the...

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