The Ledger

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Tag Archives: finance analytics

SF Magazine: Forecasting the Future

5 ways to use predictive analytics:

  1. Expand the data available
  2. Tools: Start small and add on
  3. Use scenario planning
  4. Address the knowing-doing gap
  5. Model building: Think causality

Read More at SF Magazine >

CFO Magazine: A Small Business CFO’s Practical Approach to New Technologies

“Consider how data analytics and visualization tools are becoming more powerful and easy to use. Could you leverage data analytics and visualization tools to enhance finance and other departments’ storytelling abilities, enabling cross-functional partners to understand current realities and trends better and thus make better decisions?”

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CFO Dive: Forecasting Cash Flow Under Volatile Conditions

““I think it’s important to forecast cash flows by estimated revenue by product, by customer, by currency, and by breaking down operating costs between fixed and variable and other categories. If there are certain variables, like key input prices that could fluctuate dramatically, having a proper sensitivity analysis can help.””

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CFO Dive: Making FP&A More Business Relevant

“..The goal is simple: to arm CFOs with more relevant and actionable analyses so they can be better partners to the other executives.”

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CFO Journal: At Genpact Strategy Teams With Finance to Adapt to Market Shifts

“Pre-pandemic, there was a lot of customer interest in new ERP implementations and full-scale digital transformations. Now, with resources constrained by the crisis, our client conversations are more about services that layer on top of existing ERP and on outsourcing different pieces of finance that they don’t view as core to running their business. These shifts have meant significantly changing how we go to market.”

Read More at WSJ >

SF Magazine: Financial Reporting During the Pandemic

It’s valuable for financial reporting professionals to reconsider not only the information needed for these projections, but also to reconsider their reliance on the existing patchwork of solutions and spreadsheets that slow down the process. Systems improvements can facilitate the development of critical estimates and create the supporting documentation, an evidentiary trail of review and oversight by senior management, audit committees, and auditors.

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Employ Strategies to Turn Around Business Performance

“Explore strategic options under a “no-constraint rule”. Many finance business partners were not able to get the best ideas out of their key internal stakeholders because many gave strategic options vis-à-vis the resources the business had. Suggestions for turning around the operations become constrained by the resources these stakeholders thought they had or could deploy at their disposal. It’s important to encourage key stakeholders to “free their mind” and consider the turnaround strategy as if there were no resource constraints. This encourages them to think beyond the company’s financial position at that moment.” C.F. Wong, ACMA, CGMA

Read more at Financial Management >

Digital transformation programs need the right talent to success

“Success [for digital transformation programs] requires bringing together and coordinating a far greater range of effort than most leaders appreciate. A poor showing in any one of four inter-related domains — technology, data, process, or organizational change capability — can scuttle an otherwise well-conceived transformation. The really important stuff, from creating and communicating a compelling vision, to crafting a plan and adjusting it on the fly, to slogging through the details, is all about people.”

Read more at Harvard Business Review >

COVID-19 Affects on Manufacturers

“We learned that some manufacturers wish they had put more thought and effort into the digital transformation prior to the COVID-19 pandemic. But many of these companies have since adapted and are now adding new digital technologies and digitally enabled solutions as opportunities arise. The ability to readily share and analyze operations and supply chain data remotely, for example, has been critical in some industries, since those data and analyses can now be used to enable collaboration and help make the best data-based production and supply chain decisions quickly, even in real time. Most companies, even those with solid contingency plans in place, are operating and making changes and policy updates daily on the fly.”

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