2015

Budget Season: Excel Turns the Office of Finance into Scrooge

Research Shows Budgeting and Planning Still Painful for Most Companies

Performance Management Budgeting & Planning


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Reporting 3.0 - The future of corporate reporting

Learn the various perspectives on the direction of corporate reporting coming from the Reporting 3.0 conference.

Reporting & Compliance


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Welcome to The Age of The Renaissance CFO

Something has to change if CFOs are going to close the gap between the expectations of their CEOs and the reality on the ground.

Performance Management


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Tagetik in Touch 2015: Technology Insights for Finance Champions

Using Technology to Empower and Elevate the Office of Finance

Performance Management


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Imperial UK Implementation - Week 3

This week we revisited the account hierarchy as the accounts dimension effectively contained elements of other dimensions within them.

Performance Management Budgeting & Planning


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Tagetik in Touch 2015: A Conference of Champions

More Than 750 Attendees from 30 Countries Gathered to Learn, Collaborate, and Network

Performance Management


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The Budget Inferno

A guided tour through the budget set to Dante’s Divine Comedy. We will visit different levels of the Inferno and meet the people that can make the budget such torture.

Budgeting & Planning


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Imperial UK Implementation - Week 2

Moving forward Imperial UK implementation: struggling with the historical data load process.

Performance Management Budgeting & Planning


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Design Thinking in Corporate Performance Management applications

Design Thinking is in large part a response to the increasing complexity of modern technology and modern business, and the challenge of having user interaction be simple, intuitive, and pleasurable.

Performance Management


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Trash-In Trash-Out (Part III)

Information is power. Transferring data on automated archives means sharing information, thus empowering your organization. But that also means loss of power. Legends tell us that mankind invented desk drawers to hide pieces of information that would be inserted manually on report on request...

Performance Management Consolidation & Closing


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Imperial UK Implementation – Days 3-5

Going forward in the implementation we constructed the statistical codes which did not exist in Tagetik and created an upload routine to enable us to populate the statistics. Keep on following.

Budgeting & Planning


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Trash-In Trash-Out (Part II)

How to build an information flow that fits the reporting needs of a company as well as the requirements of the system, in order to obtain the right information on time with the minimum spent in terms of human and corporate resources. Read the second part of my experience.

Performance Management Consolidation & Closing


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Imperial UK Implementation – Day 2

Day 2: let's move on with the project and set the product and department dimension and put the elements of the dimensions into meaningful hierarchies.

Budgeting & Planning


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Trash-In Trash-Out (Part I)

The evaluation of the overall performance of any CPM system often relies on the quality of the set of information which feeds those systems. In this article I will try to give a consistent vision to apparently chaotic pieces of advice generated by my experience as consolidation specialist in the past 10 years. Ten years in ten key points.

Performance Management Consolidation & Closing


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Imperial UK Implementation – Day 1

Day 1: discussions around dimensions. My normal approach the developing solutions, or working with them is to build a rough outline, try to test and break it and then make the real thing.

Performance Management Budgeting & Planning


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Imperial UK Implementation – Day 0

Imperial UK kick off implementation - Day 0: a one day deep-dive session exploring the product. How to cover off the group reporting, budgeting and forecasting cycles.

Performance Management Budgeting & Planning


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Blog part 3: I use my GL/ERP for Consolidation today – why change?

I must admit that this question is the most intriguing one for me. In order to answer this question honestly and with the utmost intregity (remember that I am in the Corporate Performance Management (CPM) software space) I would have to qualify my answer (like any true accountant would) and say “It depends”.

Performance Management Consolidation & Closing


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Blog Part 2: Why pick/change Consolidation solution now?

Read this post to discover what are the areas of concern with existing stand-alone consolidation solutions.

Consolidation & Closing


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Microsoft’s annual Worldwide Partner Conference

Recently I attended, with over 14,000 others, Microsoft’s annual Worldwide Partner Conference held at the Orange County Convention Center in Orlando, Fl.

Performance Management Business Intelligence & Analytics Cloud


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Blog part 1: Excel is your consolidation environment today

Excel is and will always be an accountant's go to tool for any requirement as it is familiar, easy to use, and can be manipulated to accomplish any mathematical task or exercise that is required. In this post you will learn why it may not be the best tool for consolidation purposes...

Consolidation & Closing


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Why Pick/Change Consolidation Solution Now? A 4 Part Series…

Read this 4-part blog to read Pat's perspective on why select a Consolidation solution now providing some color commentary and identifying some key items that you should be looking for during the selection process.

Consolidation & Closing


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Ventana Research Reviews Tagetik 5

Robert Kugel, senior vice president and research director for Ventana Research, reviews Tagetik 5 Financial Performance Management Software. Robert Kugel analyzes and evaluates Tagetik 5 features and benefits.

Performance Management Business Intelligence & Analytics


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Looking Under the Covers of The Gartner Magic Quadrant for CPM Suites

The follow-on research that Gartner publishes after the MQ is where you can get real insight into the details and dive deeper to evaluate which solutions are best fits for your particular needs.

Performance Management


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Gartner Solvency II Market Guide Shows There is Still (a little) Time to Prepare

The deadline for Solvency II compliance for EU insurers is January 2016. With time quickly running out to implement a solution before the deadline Gartner has just published a Market Guide that describes 20 vendors that provide Solvency II solutions

Performance Management Reporting & Compliance


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Challenges for HR Planning & Monitoring

The control and the monitoring of salaries in the P&L are a key point in driving an organization. Indeed in added value the part of salaries is important (in 60 to 90% depending on industry) and it can have a big impact on financial performance if business activities fluctuate.

Performance Management Budgeting & Planning


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Interim Measures: We Won the First Challenge Together!

Last month the first official deadline of Solvency II challenged European insurances: they reported the data of December 2014 according to the Interim Measures.

Reporting & Compliance


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The Fine Art of Push Down

Many CFOs are looking for a faster and more value added reporting process. Faster access to relevant information enables the management team to take immediate corrective action where needed. Fast close projects generally focus on two mechanisms: more reliance on estimations in the month end close, and utilizing better technology to support the group reporting process.

Reporting & Compliance


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The Power of Analysis Combined with the Financial Intelligence in the Hands of Business Users

Miscrosoft and Tagetik collaborate to get more value from your finance processes

Performance Management Business Intelligence & Analytics


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The Consolidator Handbook

A Recipe for a Successful Consolidation Project from One of Tagetik’s Premier Customer Chefs

Performance Management Consolidation & Closing


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Integrated Reporting (IR)? No, Thanks I`ve got Other Priorities Right Now!

Let's think about this natural reaction some people may have when dealing with IR. There are two different barriers which prevent people from embracing IR: the hard barriers and the soft ones.

Reporting & Compliance


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Gartner CPM Magic Quadrant User Survey. Tagetik Scores Big.

Last week Gartner published its annual user survey based on the results Gathered during the CPM Magic Quadrant customer surveys. The vendors on the Magic Quadrant were ranked by customer satisfaction scores of their customers surveyed.

Performance Management Cloud


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Big Data for Finance, Is It Necessary?

I never believed in big data for Finance departments; as that type of volume of data came from building data warehouses for web analytics in the past. Financial Accounting and Management information for reporting & analysis is mostly at monthly or sometimes at weekly balances level. For budgeting & planning it is at product or product group and/or brand and/or FTE level (in some cases employee level) as the lowest level of detail.

Performance Management Business Intelligence & Analytics


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How to Be All the CFO You Can Be (or Want to Be)

What it takes to be one, and why your company needs you to take on a bigger role: progressive thinker, tech innovator, and strategic partner

Performance Management Business Intelligence & Analytics Cloud Reporting & Compliance


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Cycling and Software: Team Up to Be a Champion!

Competitive cycling is unique in sports: in order to win you almost always need the right mix between team and individual effort. A strong team without a star performer seldom wins, likewise a star without a strong team does not get very far.

Performance Management


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Can a CPM Software Vendor Be Credible if They Say, “Cloud is Just a Fad”?

An interesting white paper came across my desk the other day. Authored by another Corporate Performance Management (CPM) provider, the paper dismisses cloud-based applications as a fad, part of a hype cycle generated by analysts, investors, and “the media.” Almost like a conspiracy theory.

Performance Management Cloud


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CFOs and CIOs Differ on Perception of Cloud and Finance

The differing perspectives of Finance and IT in the recent research by Saugatuck Technology

Cloud Consolidation & Closing Reporting & Compliance


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CFOs Will Benefit from In-Memory Corporate Performance Management

Last week I took part in SAP’s SAPPHIRE NOW event in Orlando, Florida. It was a great opportunity to sharpen perspective on how in-memory database technology will benefit our corporate performance management (CPM) customers, especially the Office of the CFO.

Business Intelligence & Analytics


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Why I Have a Love/Hate Relationship with “Conference Season”

Spring is a rejuvenating time of year. The annual rebirth from the doldrums of a long, cold winter means two things: - Pollen counts go off the charts turning my car yellow and my eyes red. - A solid month of traveling to Las Vegas, Orlando and other locales for spring conference season.

Performance Management


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Never Walk Alone the Integrated Reporting (<IR>) journey!

<IR >is a never ending journey which can be sped up if the different experiences are shared by the participants from different industries and countries.

Reporting & Compliance


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Unleashing Great Things - Why Tagetik Integrated with Qlik® Analytics Platform

You may have heard that Tagetik recently integrated our Corporate Performance Management (CPM) platform with Qlik Sense, a visual, intuitive solution for analytics and insight discovery. The result is the new Tagetik Analytics, which brings the financial intelligence and—very importantly—the data governance of the Tagetik model into the analytic model.

Business Intelligence & Analytics


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From Pre-Financial to Financial Information: a Different Perspective

Pre-financial information are strategic: their relevance is very often underestimated by the company. Sooner than later these information will "evolve" into monetary items affecting the company net result.

Reporting & Compliance


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How Can CFOs Get All of the Finance Function on the ‘Same Page’?

It is fascinating to note how often the corporate reporting process stumbles at the last hurdle. Despite the considerable effort expended on managing data quality, improving collaboration and honing the financial consolidation process many of the hard won efficiency gains are frittered away because historic approaches to the process ignore the vital last step of final report creation.

Performance Management Disclosure Management Reporting & Compliance


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Get the Most Out of the Balance Sheet

Corporations are managed predominantly on the basis of the income statement. This claim is supported by the fact that target setting for budgets and forecasts is generally done on operating profit (or EBIT or EBITDA, if you like). It is in addition common practice to internally present the balance sheet according external reporting standards such as IFRS. This is not the most intuitive reporting layout; especially not for non-financial colleagues.

Performance Management Budgeting & Planning


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3 Facts You Should Know About Cloud Financial Solutions

Cloud solutions are pervasive throughout our personal and work lives.Yet adoption of financial systems on the cloud have lagged behind other corporate systems such as for HRM or CRM. That, however seems to be changing, and changing rapidly.

Performance Management Cloud


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Only 10% of Companies Are Prepared for Non-Financial Reporting Directives. Are you?

Despite the mounting volume of financial information published by companies in their Annual Reports and Accounts, there is a growing recognition that financial disclosures on their own do not tell the full story about an organization’s health or its prospects for growth and success.

Reporting & Compliance


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Gartner Magic Quadrant for Corporate Performance Management Suites, What Does it Tell You?

Many think that March Madness is about the NCAA Basketball tournament, but we think that for software vendors in the CPM space March madness is the annual publication of the Gartner Magic Quadrant for Corporate Performance Management Suites

Performance Management


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Work Backwards to Move Forward

We all live the experience of floating adrift on the Pivot Sea, casting our data connections out from Excel hoping to have a hit of the “big one” – now sometimes called ‘big data’ – the table, the query, the info we want that delivers that insight, those nuggets, that we so desperately want.

Business Intelligence & Analytics


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Performance Management in the Cloud Without Compromise

An increasing number of businesses are now seeking to move away from traditional on-premise solutions for corporate performance management (CPM). A 2014 survey entitled “Empowering Modern Finance” carried out by Longitude Research on behalf of Accenture and Oracle, says that more than two-thirds of executives have adopted a cloud-based system for core financials (24%), or are planning to do so (45%).

Performance Management Cloud


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Solvency II – It’s Only Disclosure Management, so Why All the Fuss?

The EU Solvency II Directive (the insurance industry equivalent of Basel II for banks) seeks to harmonise EU insurance regulation and protect the public by reducing the risk of insolvency. Affected EU direct life and non-life insurance and reinsurance companies will, effective as of 1st January 2016, be governed as to the amount of capital that the company must hold.

Reporting & Compliance


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CFOs Responsibilities Don’t Change Because of the Cloud

The responsibilities and pressures on the CFO are great; the regulatory environment is high, as is scrutiny from investors who are looking for details that go beyond the numbers. The CFO has become a key strategic role – one that is often the coordinating point across departments.

Cloud


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Should Cloud Versus Non-Cloud Be a "Right" or a Choice?

Go back just 5 years and you will find that businesses were faced with a stark choice in the cloud versus ‘on-premise’ debate. Cloud computing in the financial applications space was the preserve of newly formed software vendors with little or no track record. The functionality was relatively primitive and although the cloud had its attractions, conservative finance organisations were reluctant to venture into uncharted waters.

Cloud


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How CFOs Benefit From a BI Visualization Tool

Appearances matter. The way that data is presented affects our capacity to understand it and influences how quickly and easily the information and insights it provides can be used to inform our decision-making

Performance Management


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2015 Banking Regulatory Outlook

For banks and other financial institutions, 2015 promises to be another challenging year of implementing financial reforms required by regulators. A number of these challenges were highlighted in a January 7th article on the 2015 Banking Regulatory Outlook published in Bank Systems and Technology.

Performance Management Reporting & Compliance


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Reporting Beyond the Financials

When it comes to reporting, it seems like the CFO’s job is never done. Increasing information demands from internal stakeholders are causing Finance departments to provide more frequent and detailed financial and operational reports and KPIs to line of business managers.

Performance Management Reporting & Compliance


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BI For the Masses? Will Microsoft Finally Make it a Reality?

It's been more than 10 years since Microsoft declared it was bringing BI to the Masses. Yet adoption rates continue to languish at around 30% according to recent research by Gartner. But recently Microsoft jumped in with both feet.

Business Intelligence & Analytics


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Getting Ready for Solvency II – The Time is Now

European insurers face many issues that need to be resolved before adoption of Solvency II in January 2016. A significant amount of work is needed between now and 2016 to address preparedness across all three pillars, with action needed especially for Solvency II, Pillar 3 Reporting.

Reporting & Compliance


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Is it Time to Move your Financial Consolidations to the Cloud?

With adoption of cloud-based financials and corporate performance management (CPM) applications gaining speed, it appears that Finance executives have become more comfortable with the notion of trusting their sensitive financial data to cloud-based applications.

Cloud Consolidation & Closing


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Tagetik developers @GWT.create 2015

Four visionaries and inspired Tagetik developers attended GWT.create, the annual conference about the Google Web Toolkit and related technologies for complex web application design and development. The event took place in Munich, Germany on January 27-28.

Performance Management


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Why Smart CFOs Pay Attention to "Non-Financials"

Measuring digital transformation is challenging. CFOs will need to be prepared to build new metrics, risk and performance measures in order to give a complete picture of the health of the business and its prospects for growth.

Performance Management Reporting & Compliance


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Banks Use Targeted Applications to Keep Up with Regulatory Demands

There is probably no industry that has more financial regulatory reporting requirements than banks. Regulations in the banking industry have increased significantly since the financial crisis, and the cost and time resources associated with keeping in line with these rules have left many firms scrambling.

Reporting & Compliance Financial Services


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EIOPA Solvency II Rules May Lead to New Opportunities

This year will be a busy year for the insurance industry as it makes sure it is fully compliant with Solvency II regulations by January 2016 - and for some insurers it will be a case of deciding whether to withdraw from an entire class of business or a territory. Not a trivial decision.

Reporting & Compliance


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New Year, New Rules - Solvency II

The implementation date for Solvency II is set for January 2016. Addressing and automating Solvency II compliance should be a New Year’s resolution for all insurance companies. Learn how to be compliant with Solvency II.

Reporting & Compliance Financial Services


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