The Ledger

The Necessity of Collaborative Enterprise Planning

Budgeting is the backbone of most organizations’ management control systems. However, it’s also a practice that rarely adds value, with participants often involved in an elaborate game of bagging resources. Collaborative enterprise planning can overcome these weaknesses through a combination of re-evaluating management practices and employing the latest in collaborative intelligent finance solutions. There is no reason why this budgeting process can’t operate on a continuous basis. If activities need changing or new ones need to be introduced, just those parts can be re-planned as necessary.

Read More at The Digitalist by SAP >

Simplifying Cost Control In Real-World Complexity

“Spending decisions are best made with collaboration and guidance.”

Now more than ever, employees expect more freedom to spend capital much in the same way they buy their personal items. And while most finance organizations are finding ways to eliminate paperwork, streamline processing, and provide mobile access, CFOs are only chipping away at what they need the most- total spend management. With the system of checks and balances that total spend management delivers, employees are given the tools and insights they need to purchase quickly, appropriately, and, above all else, intelligently

Read More at The Digitalist by SAP >

The Value of Collaboration Between Humans and Technology

“Through collaborative intelligence, humans and AI actively enhance each other’s complementary strengths: the leadership, teamwork, creativity, and social skills of the former, and the speed, scalability, and quantitative capabilities of the latter. What comes naturally to people (making a joke, for example) can be tricky for machines, and what’s straightforward for machines (analyzing gigabytes of data) remains virtually impossible for humans. Business requires both kinds of capabilities.”

Read More at The Harvard Business Review >

Gaining Insight Through Data Visualization

 “Visualizations contained in these types of tools dynamically display how cash flows and assets change in value through time using stacked area charts or stream graphs​”  

Data visualization is an integrative field – leveraging art, science, and math, while focusing on the creation and study of the visual representation and display of data. While there are several ways to understand data, visual tools depicting the complex relationships and conditions of data and algorithms have proven to be the most effective. Leading data-driven firms across all industries now rely on data visualization as a means for attracting and retaining customers as well as enabling or enhancing critical decisions.

Read More at The CIO Review >