Webinar: Expanding Finance's Role in Corporate Strategies

Corporate strategies

 

The Corporate Finance Strategy Webinar, presented by Birst and hosted by Paul Staelin, is a must-watch for anyone in the finance department. This webinar will provide insight into how your company can use analytic technology to make your strategic planning process more effective. You will also learn about ways that analytics can help take any company and give it an important competitive advantage.

Using Data Well

Zynga is the company that produces games for Facebook, including Farmville, Mafia Wars, and Words with Friends. Fumigation is a successful video-game company with many competitors who struggle to compete in the industry.

The reason Zynga could move so swiftly was because of their ability to take the data they collected and compute it in a way that aided their financial strategies. After analyzing the products of Farmville, they were able to change its search and purchasing format for better service.

They used this information to create products that would serve different audiences. One of the ways this data analytics helped their customers were by but it created the opportunity to get more customers and to shift their operations accordingly.

Holistic View of Your Business

Get a fuller understanding of how all the different departments in your company work together by using analytic technology. Every department is a part of the whole, and working together can be very advantageous.

One serious mistake is carrying out different kinds of digital operations in a company. HR, Sales, Marketing, and Production should all share the same goal so that decisions made by the company can be better for everyone.

The finance department can benefit greatly from using analytic technology as it will provide for more data input. In order to get the most accurate end result from a process like this, it's important to use analytical tools correctly.

Data analytics can be used to make big changes in the company, but those changes must be positive and helpful on all levels. When everyone is able to work together as a team, they will be able to collaborate with more ease.

The best outcome of good collaboration is making better decisions. Better educated decisions will help you to improve in every facet of the company. When every piece of the puzzle improves, then as a whole, the value will automatically be worth more.

Automated Reporting

When we've looked at all the great reasons to leverage analytics, many CFOs often feel overwhelmed. Adding additional responsibility to an already overwhelming workload and interfacing with countless coworkers can be overwhelming. This is one of the great benefits of analytical technology.

Once you get going with this new technology, there is an inevitable learning curve to take into consideration. The change will take time to implement the way of working and getting everyone on board.

Once you put in the initial effort, this program will come to life automatically, and you will receive automated reports. The program will automatically generate the analysis you need after you input and collect data. The decision-making process will be altered, but a lack of time from doing the research can be reduced by relying on automated reports.

This means that the use of analytic technology will now have a greater impact on making decisions. There is no need to worry and more time to create plans for future success. Given the same intelligence about their company that you're given, management is able to make better decisions for its future.

Maintains a Single Version of Truth

The benefit of using analytic technology is to tap into data sets from the different departments in order to improve better decision-making. Employee relations is a group effort to make sure that all members of the company are using the same version of the truth.

The finance department is a dynamic and evolving organization that must participate in strategic work within the company. This makes analytic technology something to invest in for the financial department. Contact Docupile for digital document storage for accounting firm Now!


Location: United States

Comments

Post a Comment

Popular posts from this blog

Achieving Employee and Employer Advocacy through DMS

Image
  How Employer- and Employee-Advocacy Can Help HR Professionals Employer and Employee advocacy is a tricky issue for HR professionals. HR professionals often find themselves in a difficult position to balance the satisfaction of staff with the satisfaction of employers, which can be difficult to do. This article will discuss how HR departments can use DMS technology to work towards achieving employer and employee advocacy. Challenges for HR Professionals Being part of human resources for any company is a lot more than just doing paperwork and staying organized. The human resources department often finds itself playing the critical administrative role of overseeing management-staff relationships. The modern human resources department faces a difficult balancing act in advocating for both employees and employers, which is the uneasy balance that HR teams must find between satisfies, staff and employers. Employees often perceive HR as being a mouthpiece for management. If th...
Read more

DMS: Simplicity and Security in Financial Planning

Image
  DMS, or document management software , is the solution for your document chaos! With a variety of solutions to choose from, DMS will fit your needs. It offers document management software with simplicity and security in financial planning so you can have an easy-to-use system while being safe from cyber threats. Our document management system, Docupile, ensures smooth operations while being environmentally friendly so you can focus on what's important: your clients! The document management system is just what you need for the financial planning of your firm. here is how it can help you in it: 1) Simple An efficient DMS solution , like Docupile, makes it easier for you to manage your documents and files. With document imaging software that is easily integrated into many different programs like CRM or accounting software, document management can streamline workflows and ensure smooth operations in financial planning. It's simple to learn and incorporate at an institut...
Read more