2 minute read 31 Mar 2018
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How agile finance can provide the fuel to drive your business forward

By

EY Global

Multidisciplinary professional services organization

2 minute read 31 Mar 2018

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In the Transformative Age, organizations need to be agile.

New technologies and market entrants, changing customer needs and behaviors, and exponentially growing data volumes create a need for change. Yet many finance functions continue to struggle with cumbersome processes, nonintegrated systems and a heterogeneous structure.

EY webcast – Can agile finance provide the fuel to drive your business forward?  

Watch the replay of EY Agile Business Finance webcast

Do you have an appetite to reduce cost, speed up systems and anticipate risks?

Agile Business Finance is designed to help CFOs and their teams to better realize the benefits of advanced technologies that include robotics, in-memory and cloud-based computing, as well as real-time data analytics and artificial intelligence (AI) to monitor performance management. It can help CFOs reduce the costs of finance, speed up financial systems, align people capabilities and make them better equipped to anticipate financial risks on the basis of SAP S/4HANA.

Demand for analytics and AI

As users demand access to ever-increasing amounts of data, finance functions are required to move through and analyze vast amounts of information.

Agile Business Finance is rooted in advanced analytics technologies, such as predictive analytics, machine learning and AI. It focuses on the whole data cycle, whether that be data gathering, management or analysis. It can help improve process efficiency (reducing labor hours) and generate more insights.

For example, robotics can be used to improve data gathering and management, machine learning techniques can be employed to analyze and build predictions, and business discovery tools can build more powerful reports to create better understanding and share insights.

By using the most advanced techniques in the market, CFOs and the finance function can be true business partners — helping organizations to realize competitive advantage and differentiate from competitors.

Summary

Finance functions are facing ever-increasing amount of data as many continue to struggle with cumbersome processes and a heterogeneous structure. Advanced analytics technologies can improve process efficiency and generate more insights.

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By

EY Global

Multidisciplinary professional services organization