CFOnl_Interview_Lemberg Summer 2015
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1) Finance at Service Source has more time for business analytics thanks to new cloud-based software that automated much of the financial reporting and planning work that used to take up 80% of their time. 2) The VP of Finance works closely with business operations to provide insights into key drivers of the market and customer behavior based on large amounts of digital and customer data. 3) By analyzing trends, Service Source adapted its business model to focus on automating and optimizing recurring revenue streams, allowing the company to grow rapidly with the right information systems in place.
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Hellmann Worldwide Logistics deployed IBM Cognos software to gain greater visibility and insights into its Australian operations. The new system provides automated, accurate reporting and allows managers to identify top customers, profitable activities, and opportunities to improve efficiency. This has helped Hellmann make better strategic decisions, improve cash flow by 25% by encouraging timely payments, and free up finance staff time to focus on analysis rather than data preparation.Mis jaiswal-chapter-06
Mis jaiswal-chapter-06Amit Fogla
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The document discusses various aspects of using technology to optimize HR processes and functions. It focuses on leveraging web technologies to improve collection and dissemination of HR information, helping employees manage their careers, and transforming HR from administrative to strategic. It also discusses integrating HR applications, collecting data at various points, and using intranets and self-service for streamlining processes and services.Analytics in the Cloud and the ROI for B2B
Analytics in the Cloud and the ROI for B2BVeronica Kirn
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The document discusses the transformative role of analytics in cloud services, emphasizing the importance of speed and data-driven insights for business value. It identifies four key shifts in analytics from 2014, highlighting the need for organizations to rapidly integrate digital capabilities and improve operational efficiency. Additionally, it outlines the risks of inadequate visibility in B2B transactions and advocates for enhanced analytics solutions to mitigate these challenges.Move from Business Intelligence to Advanced Analytics by Integrating IBM SPSS...
Move from Business Intelligence to Advanced Analytics by Integrating IBM SPSS...Perficient, Inc.
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Perficient is a leading IT consulting firm that focuses on integrating advanced analytics with business intelligence using IBM technologies, notably SPSS and Cognos TM1. The firm provides a range of solutions aimed at optimizing business performance, enhancing decision-making processes, and addressing finance technology pain points. With a strong track record in various industries and a commitment to client success, Perficient emphasizes adaptive methodologies and advanced analytics practices to drive data-driven improvements.How to Make Data and Analytics Central to Your Finance Digital Transformation...
How to Make Data and Analytics Central to Your Finance Digital Transformation...Workday, Inc.
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The document discusses the importance of integrating data and analytics into finance for digital transformation, highlighting that finance teams have seen increased data volume and recognize the need for improved data quality and automation. It presents insights from various experts and case studies, underscoring a shift in finance roles towards data stewardship and the use of technology for enhanced decision-making. Additionally, it outlines future trends in finance, including the necessity for developing new skill sets and the impact of emerging technologies on traditional practices.10TH ANNUAL CFO LEADERSHIP CONFERENCE: F&A Benchmarks: Prophecy or Pretense?
10TH ANNUAL CFO LEADERSHIP CONFERENCE: F&A Benchmarks: Prophecy or Pretense?Auxis Consulting & Outsourcing
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CFOnl_Interview_Lemberg Summer 2015
- 1. VP Service Source: Finance has a lotmore time for businessanalytics Opento learning,understandingandgoodcooperationprocesses are the drivingforces behindhis personal andbusinesslife forMike Lemberg(picture).Lemberghasspenthiscareerin bothlisted and venture-backedtechnologycompanies.He isnow vice presidentof Service Source,aservice providerinRecurringRevenueManagement.CFO.nl wentwithhimtotalkaboutchange,technology and the transformative role of finance. In the classicGrand Hotel Huister Duinen,betweenbaroquepaintings,goldpanelingandcrystal chandeliers, we foundoutLembergwasaheadof itstime.Where many financials incompaniesare strugglingwiththe adventof technologyandthe implicationsthathasfor the finance function, the financialsof Service Source have littledoubt."Beforewe workedwithCloudService Source software didmost of the planningandreportinginMS Excel and were 80 percentof our time engagedinthe processingof dataand making connections.WithanintegratedHRandfinance system, we cannow investourtime analyzestosupportthe business." Knowledge businessdrivers That a financial joinedin ateachmeetingisnotgoodnews inthe eyesof a classicbusiness.Few employees are waitingforacontrollingfinancial whichiswatchingoverthe shoulderslookingfor budgetoverrunsandrisks.AccordingtoLemberg that isnot goingonat Service Source."My colleaguesinthe businesshave astrongneedforknowledgeaboutthe driversof the market.They have manyquestionswhichare noteasyto findan answer.Finance canhelpinthis."Lembergherein are linkingthe rise of bigdata.Salesprocessesandmarketingcampaignsare oftendigitallyand customerbehaviorcanbe measuredonline.Thiswill bringmore andmore dataisavailable where valuable informationisprivate.The knowledgeandskillstofilteroutthe useful informationisshared betweenthe businessandpartlytofinance. More time for businessanalytics A prerequisite forcooperationwiththe financebusinessisthatnotall day behindanExcel spreadsheetistogetthe financialsinorder.Thanks tothe new software implementation, financials have more time."The companyhas more than fifteenyearsandisincreasinglyfocusingonthe managementof the lifecycle of sales.We workworldwidewiththree thousandmen.Inthe beginning we were able tomanage well withExcel,butasthe businessgrew alsotookthe complexityof financials.There wasrelativelymuchtime sittingincheckingthe figuresandthe systemlessstable. "Whenit became clearthatthe systembasedonExcel wasnot easymaintainablefinance,in collaborationwithITandthe business,startedlookingforagood scalable systemforasmuchas financials andHR.Theirsearch resultedinapartnershipwithWorkday,whichshe co-developmentof a processwhichcontractedService Source alongwithWorkdaysoftware adaptedtothe needsof the company. Newsystemsare oftenencounteredwith muchresistance.At Service Source,the new software was usedquickly."Withinamonthafterlaunchwas99.4 percentof employeesloggedintothe new system.One of the reasonsisthat the systemprovidesaccesstodata that employeesgotothe very
- 2. heart,such as holidaysandthe daythe salary waspaid.That's one of the advantagesof combining HR data and financialsinthe same system."Asthe financial andHRdata neatlyintoawell-running systemare maintained,the financeteaminvestedindataanalysistosupportthe business.Forthis, software ispurchasedfromAnaplan,bywhichinusingthe datafrom strategicWorkdaydata analyzescanbe made. Valuable analytics for business Accordingto Lembergpreciselythe combinationof bothsystemshighaddedvalue."Withthe new software,we hadreliable figuresinmuchlesstime.Thattime savingswe couldconvertthe systemof Anaplanvaluable analysisforthe business."The vice presidentseesthe future of finance.He believes that the functionof finance ismovingfurther towardmakinganalyzestosupportthe business.Thisis of greatimportance forthe activityof Service Source. By analyzingtrends,Service Source adapteditsownbusinessmodeltochangesincustomer behavior.The companystartedthe processof taking overcontract renewal companies.Lemberg: "We work stronglydatadriven.Ourvalue propositionwas:give usresponsibilityforthe contract renewal thenwe will ensure thatyoursalesby15 percentincreases."Thiswasanattractive propositionandlongservice Source couldthusconquerthe market. The situationchangedbecause there are fewerandfewercompaniesare workingwithannual contractrenewalsandbecause the cost and efforttoswitchcustomersare shrinking.Therefore Service Source alsohadto adapt its offeringandthe companyisnowfocusedonautomatingandoptimizingrecurringrevenuestreams." Growingwith the right information Lembergisveryimportantthattheycontinue tofollow exactlywhatthe customerwants."We have a rapidly changingmarketwhere customerswantyourmoves."The abilitytoquicklyswitchaccording to the financial animportantdriverforthe growthof the company.Andgrowth,Lembergthere isa happyman. "Iwant to winwitha goodteam andgrow the business.I have workedformany technologycompanies.The keytogrowthisto have the right informationinanautomatedand scalable solution.Sowe can stabbingourtime inanalyzesthatthe rightdecisionscanbe made."