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Transforming Finance: How CFOs Use Business Intelligence to Turn Finance from Record Keepers to Strategic Advisors

Sponsored By Visual Mining

Topics:: Budgeting & Planning > Business Intelligence; Finance & Risk Management > Benchmarking/Metrics

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Abstract:: Finance can be a powerful agent of organizational change and leverage the information that it collects to assist executives to optimize processes, achieve goals, avert problems, and make decisions.

Most finance departments are stuck playing a back office role, producing internal and statutory financial reports, which leaves little time to analyze data and collaborate with business managers about how to improve the business. During this reporting process, finance teams create information silos, using spreadsheets and other low-cost tools that interfere with top executives� ability to obtain a consistent view of enterprise performance.

Forward-thinking finance departments have learned to partner with the IT department�more specifically, the business intelligence (BI) team. In so doing, they have liberated themselves from manual data collection and report production processes so they can engage in more value-added activities.

DETAILS

Sponsored by: Visual Mining

Released: June 03, 2010

Length: 28 pages

Format: PDF (1847 kb)

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