The Ledger

Increasing Profits with Mid-Year Adjustments

Mid-year adjustments to business plans help many companies improve their tactics while staying on track with long-term initiatives. While many businesses only have impromptu approaches to adjusting business plans, a more structured approach provides flexibility and focuses concentration on the right levers of profitability. Checking in on mid-year financials allows executives and decision makers to not only see how the business is performing, but also to see how their plans are faring mid-year and determine any variances. Furthermore, the ability to identify the root cause of the variance and make a thoughtful adjustment to the business strategy is crucial to optimize business performance and drive profits.

Read more at Forbes Magazine >

Boost Finance Agility with Modern Technology

“The relentless introduction of new technologies and innovative business models has accelerated the velocity of change in the business environment. To survive and thrive, companies must be attuned to shifts in market conditions and ready to make decisions fast – and implement them quickly – to alleviate their impact.”

According to The Hackett Group, there is a strong positive correlation between greater organizational agility and financial out-performance. While there is not a single way for executives to make decisions faster and expedite their execution, they can leverage a dynamic, integrated modern technology platform that enables agility across the organization.

Read More at The Digitalist by SAP >

The Path to Manufacturing Innovation is Paved With Exponential Technologies

“The velocity of technology advancement, especially for the manufacturing industry, is exponential.”

Exponential technologies provide the scalability that modern businesses often lack with their legacy technologies and outdated practices. Industrial manufacturers are focusing on these technologies as a foundational approach to innovation across both products and processes. In this era of rapidly accelerating transformation, organizations of all types must develop the ability to innovate rapidly, or get left behind by the competition. Today’s manufacturing is focused on technology-driven innovation that enables businesses to build new capabilities and develop new products and services. Exponential technologies have the capability to optimize processes and controls across production and operations, providing manufacturers with a major advantage.

Read More from Deloitte Insights >

7 Fundamentals of a Successful Costing Methodology

For many businesses, spreadsheets are a large part of their costing reality and have proven to do more harm than good when it comes to truly understanding business performance. Establishing a robust costing process doesn’t have to depend on spreadsheets or rigid ERP cost modules. With an integrated costing analytics tool, finance leaders can get access to accurate and actionable performance insights for meaningful business decisions. There are seven areas to consider when establishing a dynamic costing process in your organization.

Read More on Linkedin >