With the sheer volume of data available and advancements in corporate performance management (CPM) software, Finance teams now have the capability to interact with advanced analytics. Instead of taking on the burden of building models, Finance teams can rely on purpose-built software to help them supplement their analysis, reporting and planning processes with high-volume operational and financial signals and predictive forecasts.
Advanced analytics offer Finance teams a new way to drive performance – and lead with speed. If Finance teams spend all of their time moving data, reconciling data and building reports, they’ll have no time to leverage this data to guide key decisions. But by leveraging technology to handle the hard work, Finance teams can shift a larger portion of their time to value-driving activities such as forecasting cash or evaluating key capital investment decisions.