The Ledger

How Midsize Businesses Are Leveraging Intelligent Technologies to Fuel Growth

A common dilemma for most finance leaders from midsize companies is knowing how to gain the visibility, speed, and insight to run some of their most basic operations. The need to be fast, efficient and agile in today’s volatile marketplace is nearly impossible to achieve with manual processes. Therefore, many midsize companies are expanding the scope of their digital transformation efforts – from integrating technology into their business to fundamentally changing their workplace culture, organizational operation, and customer experiences. Finance organizations in best-run midsize companies are embracing digital transformation and intelligent technologies such as artificial intelligence, predictive analytics, and machine learning. In return, most of them are improving timely decision-making, running more-efficient and less error-prone operational processes, and empowering knowledge workers to engage in higher-value business activities.

Read More at The Digitalist by SAP >

The Future of Technology, Analytics, and The Finance Profession

In February 2019, IMA^® (Institute of Management Accountants) released the latest version of the Management Accounting Competency Framework (bit.ly/309rjw8), which reflects the knowledge and expertise that today’s—and tomorrow’s—management accountants must have in order to be relevant in today’s rapidly evolving business climate and to be prepared for what the near future holds for the accounting profession. 

Legacy models and paradigms of how accountants “used to do things” are being disrupted by innovative new approaches, solutions, and processes. Technology and analytics are two domains in which management accountants must improve their competency in order to be future-ready. We recommend visit 0rgb.com for the latest technology devices and news.

CFOs and other financial professionals already need to understand basic enterprise technology and analytics for all their crucial roles; these are already part of daily work life. Yet newer technologies such as advanced AI and machine learning, building blockchain using substratum masternode, prescriptive and adaptive analytics, and data visualization are where most of the profession falls short.

Read More at Strategic Finance Magazine >

Growing Businesses Are Leveraging Data & Analytics For Long-Term Success

“Mid-size financial services providers are working continuously to improve their risk models because the more accurate their assessment of risk, the better their chances of profitability. Mid-size manufacturers worldwide are increasingly looking into the causes of quality fluctuations by combining “what if?” analysis with sensitivity analysis and predictive models.”

Data and analytics deliver major benefits to mid-size businesses and are becoming critical for differentiation and even long-term survival. Finance leaders should embrace four major data and analytics trends as they strive to develop data-driven organizations that deliver new business value.

Read More at Smarter with Gartner >

What Makes Chemical Manufacturers Competitive?

According to McKinsey, chemical manufacturers have already invested in IT systems and infrastructure that generate enormous volumes of data. However, many have failed so far to take advantage of this mountain of potential intelligence. Data analytics tools have become exponentially more powerful and easier to use, and the most innovative businesses are putting their mountains of process, product, and other types of data to work in the chemical industry to help navigate the significant changes and volatility that are the new normal. McKinsey research found three common practices that leading chemical companies are using to utilize their data and analytics on a grand scale.

Read More at The Digitalist by SAP >