A tight partnership between finance and IT is allowing AT&T to pinpoint the bottom-line impact of its Apple iPhone business.
Scott Leibs, CFO Magazine
May 1, 2008
This article makes the salient point that the general ledger is the trusted source for managerial reporting, a point that few would dispute. Many companies are challenged to use the general ledger effectively for this purpose, however, and they often endure inadequate reporting, longer cycles, and dependency upon ancillary systems as a consequence. In our 27 years experience in working with clients to remediate financial reporting, we have found the primary obstacle in achieving robust managerial reporting thatıs general ledger based is often the clientıs chart of accounts. This is typically because the chart was not designed to support managementıs current reporting needs, which have evolved since the chartıs implementation and continue to evolve because of changes in business segments and strategic direction, etc. This situation, fortunately, can be remedied with a new uniform chart of accounts designed for business segmentation, growth, and, most importantly, easy reporting. A chart re-design and conversion enables companies to tap into the general ledgerıs natural data warehouse capabilities providing a ısingle source of the financial truthı for the enterprise. No doubt that Cingular followed this approach when they merged with ATT, and the payoff was huge. Indeed, as the article states, this is a major opportunity, and itıs one for which most companies are positioned to take advantage. Roger Elwell VP, Manager, Financial Information Architecture Practice, GL Associates, Jersey City, NJ
Posted by Roger Elwell | May 14, 2008 02:52 pm
Mr. Boerner and the AT&T team discovered measurable value of integrated corporate data as they prepared for the Apple iPhone launch. It is not uncommon for companies who have created a centralized view of the enterprise to realize continued ROI through date integration vs. use of independent data marts. AT&T could not have achieved measurable business value without a single view of the business enabling rapid integration of detailed customer transaction and financial data then making it available to end business users in near real time to support the iPhone strategic launch.
Posted by Steven Boyland | May 05, 2008 08:29 am© CFO Publishing Corporation 2009. All rights reserved.