“Our finance department gets good, clean, de-duplicated data that’s easily auditable.”
Erratic markets, disruptive technologies, new regulations and compliance have forced the finance function to redefine its role in the organization. CFOs have been struggling to deliver faster, more accurate and insightful analysis and reporting while simultaneously managing and reducing costs.
Transforming Finance: Challenges and breakthrough solutions for CFO’s, KPMG
The finance department within a company undergoes a tremendous shift as it is required to be the change agent guiding the company in the wake of an economic downturn. To respond to these pressures, the finance function is undergoing a fundamental change and realignment in order to transform it.
The top challenges facing financial executives today include inconsistent budgeting and planning processes and delays in reporting and analysis. As a result, financial executives are driving the business based on intuition. On delving deeper, it turns out that the lack of financial data integrity is one of the root causes underlying these challenges.
Channel Data Management with Zyme could be the much-needed rescue. With high integrity data that you can trust, you can recognize revenue based on sell-out, close books more confidently, manage regulatory partner compliance, measure channel risk, devise effective risk prevention/mitigation techniques and carry out efficient financial planning to better predict the financial performance of the enterprise.
Top Finance Challenges Addressed by Improved Channel Visibility:
- Optimizing, planning, budgeting and forecasting using granular channel POS and inventory data
- Driving enterprise cost reductions in Sales and Marketing while keeping inventory levels low
- Managing/mitigating enterprise risk by identifying high risk partners and high risk transactions
- Driving integrated information across the enterprise
- Strengthening compliance programs/internal controls
- Planning for better business performance analytics to provide insights and recommendations
- Accelerating revenue growth by leveraging the indirect channel
- Enhancing organization agility and speed in response to the changing market conditions
- Becoming a transformation agent for innovative business practices
Armed with complete visibility, CFO’s today can be stewards of innovation in this new era — a critical strategic enabler for all organizations. Accenture research in conjunction with Oracle shows that 57% of CFOs believe that investment in new, digital technologies will be a key source of competitive advantage over the next three years. Channel Data Management could be the wave of change in your enterprise too. Unveil your source of competitive differentiation. Act now!