The Ledger

Agile Project Management: Flexibility and Adaptability Win the Race

Traditional project management methods have been completely transformed by new tools and technologies that enable flexibility and adaptability across the business. Traditional methods are vulnerable to delays, miscalculations or unforeseen costs that can cause budget overruns, or overall failures to deliver on stated goals. Contrarily, agile project management is an iterative, adaptive approach that helps ensure the project delivers what the customer truly needs. The agile methodology adapts to business needs since it doesn’t have a set-in-stone scope. The scope may change, while resources and time are fixed. It allows businesses to quickly amend plans or shift directions and focus on a different solution if the business need changes mid-project.

Read More at Strategic Finance Magazine >

Modern Supply Chains Require Continuous Planning in Real-Time

Today’s supply chain planning has to be continuous and based on real-time information to drive effective business decisions. In the face of rising customer expectations around individualized products, shorter delivery time frames, and predictable availability, organizations are moving away from the familiar pace of traditional planning approaches. The need to act and respond on a more real-time basis is driving manufacturers to get closer to the end consumer wherever possible. With data regarding operations and the customer experience digitally available in real-time, organizations can predict, plan, and drive goods through the supply chain more sustainably and profitably. This can also help prompt more timely adjustments of long-term plans regarding new product launches, capital investments, or supply chain configurations.

Read More at The Digitalist by SAP >

The Power of Cost Transparency

“The effectiveness of cost information is driven less by the cost method chosen, and more by the design and implementation of the cost allocation model used to support that method.”

While many businesses effectively analyze their revenue based on products, services, and customers, they often lack meaningful insight into their costs and profits. Companies with a disparate array of financial systems and costing methods find it extremely challenging to understand their financial data and achieve cost transparency. Getting cost data to a more granular level is one of the keys to arming managers with the insights they need to support strategic decision making that goes beyond what is necessary for financial reporting or inventory valuation. To improve overall performance, finance leaders need to make changes to how costs are captured and then harmonize both data and allocation models across the organization.

Read More at Deloitte >

Better Business Decisions Come From Effective Data Visualization

Data visualization can greatly improve finance’s ability to view how the business is performing by providing access to key metrics, KPIs, forecasts, and other critical information that can aid decision-making and help each function chart effective courses of action. However, those goals depend heavily on quality data. Thanks to an expanding array of analytics tools and emerging cognitive technologies, finance is also able to leverage that data to attain meaningful insights that can influence a range of tactical and strategic decisions.

Read More at CFO Insights by Deloitte >