Digital finance technologies at epicenter of CFO transformations
Article
What does digital transformation in finance really mean?
Digital technology can transform finance processes and create better data to drive revenue and customer satisfaction. So what’s holding back digital transformation? Read Now
Article
The benefits of implementing RPA in finance
Now is the chance to begin transforming your company’s finance department In a podcast from the MIT Sloan CFO Summit, Ash Noah of the Association of International Certified Professional Accountants explains how digital technology is helping finance to polish a value lens that guides the business. Listen Now
Editor’s note
Digital transformation might possibly be the decade’s most overhyped yet least understood buzzword. It’s nonetheless a compelling rallying cry for an organization’s ambitious strategies to use IT to fundamentally change how the company conducts business.
The office of the CFO is undergoing its own digital transformation as companies seek ways to take advantage of digital finance technologies to automate this core function. Finance departments have already gained efficiencies from financial close and corporate performance management software and now have their eye on emerging technologies such as AI-driven chatbots and advanced analytics.
This guide covers the key technologies and ways they help the finance department add value as a strategic business partner.
1Understanding digital finance technologies
While digital transformation of finance remains more concept than reality for most businesses, advocates say the ultimate goal is to use financial processes to transform the entire organization. Automating internal processes such as budgeting and financial reporting is a big step forward, but the real transformation emanates from using advanced data analytics to spot business opportunities, avoid risks and make better decisions.
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Article
Make better business decisions with financial analytics
Find out why finance is beginning to shift its emphasis on advanced and predictive analytics and the capability to use big data to support future business decisions. Read Now
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Article
CFOs could benefit from digital technologies in finance
Find out why emerging digital technologies like chatbots, blockchain, AI and machine learning are not only beneficial to finance, but can also serve as useful tools for the CFO. Read Now
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Podcast
Digital finance transformation lets CFOs shift focus to value
In a podcast from the MIT Sloan CFO Summit, Ash Noah of the Association of International Certified Professional Accountants explains how digital technology is helping finance to polish a value lens that guides the business. Listen Now
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Article
What does digital transformation in finance really mean?
Digital technology can transform finance processes and create better data to drive revenue and customer satisfaction. So what’s holding back digital transformation? Read Now
2How AI automates finance processes and analytics
AI is at or near the center of any serious effort toward digital finance transformation. It plays a dual role — boosting automation of repetitive business processes and supercharging financial analytics and forecasting. But deployments are fledgling, and the technology introduces serious new risks to the finance department.
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Article
The benefits of implementing RPA in finance
Now is the chance to begin transforming your company’s finance department Chatbots, machine learning and fraud detection are real, and excitement is building for algorithms that can forecast better than humans. But true AI remains a slippery concept. Read Now
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Article
AI for finance adoption affected Some experts say that for the foreseeable future, machine learning algorithms and other AI technologies will require human oversight for finance services and data privacy.
Read Now
<!– DownloadOfferController, generated at 12:42:26 Thu Jun 27, 2019, Almost every digital finance transformation begins with moving key parts of accounting and finance to the cloud, especially SaaS — the home of most advanced digital finance technologies like AI, predictive analytics, chatbots, big data and blockchain. Companies that have begun the transition provide useful lessons for peers.
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Article
Software bots start taking over finance work in Arizona
Software bots are being used in Arizona to help with some routine finance operations. These systems follow scripts to complete repetitive work, freeing employees for other work. Read Now
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Article
Oracle ERP Cloud forced Cetera Financial to rethink ways
Some users resisted Oracle SaaS platforms for ERP, EPM and HCM but came around to single entry point, modern tools for planning and budgeting, and familiar, Excel-based UIs. Read Now
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Article
The complexity of financial systems in the postmodern ERP era
With businesses under pressure to operate more efficiently, the finance department must provide better insight. Here’s what that means in terms of ERP-related technology. Read Now
4The language of digital transformation
As the CFO’s office undergoes a digital transformation makeover, the financial software industry’s terminology and its relevance to transformation is undergoing a makeover of its own.
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Definition
digital transformation (DX)
Digital transformation (DX) is the reworking of the products, processes and strategies within an organization Financial analytics is the creation of ad hoc analysis to answer specific business questions and forecast possible future financial scenarios. Read Now
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Definition
cloud ERP
Cloud ERP is a type of enterprise resource planning (ERP) software that is hosted on a cloud computing platform, rather than on premises within an enterprise’s own data center. Read Now
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Definition
SaaS ERP (software-as-a-service ERP hosting)
SaaS ERP is a hosting model for enterprise resource planning (ERP) software which involves a firm’s ERP software applications on a vendor’s servers. Read Now
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Definition
blockchain
Blockchain is a type of distributed ledger for maintaining a permanent and tamper-proof record of transactional data. Read Now