In May 2010, CA Technologies commissioned Forrester Consulting to examine the financial impact and potential return on investment (ROI) that an organization might realize from implementing CA's Oblicore Guarantee solution. To determine the impact, Forrester examined the specific costs, benefits, flexibility, and risk elements that a CA customer, Catholic Health East (CHE), experienced over the past three years using the CA Oblicore Guarantee solution. From interviews conducted by Forrester, it was determined that CHE's use of CA's Oblicore Guarantee solution allowed for a significant redeployment of labor necessary to compile and distribute service-level management reports to its system office customers and enabled a similar labor cost avoidance associated with compiling and distributing reports to its hospitals or Regional Health Corporations (RHCs). Based on our interviews, Forrester projects a three-year, risk-adjusted total net present value (NPV) of $173,420, representing the net costs and benefits attributed to using the CA Oblicore Guarantee solution versus CHE's previous manual processes used in service management reporting. (See details below in Costs, Benefits, Flexibility, and Risks sections). In addition, the risk-adjusted ROI was a favorable 45%, and the payback period was within 20 months.
Published By: CompTIA
Published Date: May 12, 2015
Managed service providers in the healthcare, infrastructure relocation, and financial service industries, tell their stories of modernization, adaptation, and growth, in this Quick Start Guide to compliance from CompTIA. IT solutions providers are learning all over again about best practices for sharing of customer data and reporting of financial data. But they’re also learning how best to help their clients meet compliance guidelines.
Published By: Workday
Published Date: Sep 19, 2018
The data deluge problem isn’t just about the amount
of internal, operational data being stored, but also the
level of granularity available. The finance and HR teams
of many institutions still operate on outdated systems
that are only able to store aggregate data with complex
details summarized. While these systems may be
sufficient for the purpose of financial reporting, they’re
unable to keep up with the level of complexity needed
to drive business decisions.
Despite recent advances in automated financial reporting tools, many CFOs still rely heavily on static spreadsheets for producing financial statements. As a result, finance leaders are often looking for ways to reduce the duplication of efforts and manual intervention in order to streamline the financial reporting process and improve the accuracy and agility of reporting.
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There are obviously a variety of choices open to you: a spreadsheet plug-in may be appropriate if you are only focused on general ledger reporting and do not have concerns over security or compliance. You might also suppose that this is a low-cost option, though we would argue that the remediation required, the additional audit fees and the lack of repeatability means that this is a false economy and that this approach will end up costing you more in the long term. A second use case would be where you already have a financial reporting solution installed, when the add-on facilities for purposes such as business intelligence are likely to be your major focus. In this case an Oracle based solution is likely to be as good as anything else.
A tool for finance leaders to unify disparate customer data with financial and strategic ROI
If you’ve found yourself sweating in a smoky billiard room, wondering what role customer data should play in finance—as well as in your company’s long-term strategy—this eBook will help you hone your pool shark skills.
Inside, you’ll find insights about….
• How to identify patterns in your customer portfolio, and why it matters.
• Avoiding four critical data billiard blunders.
• Key questions to ask while you’re segmenting your data.
• How to tell if your portfolio segmentation strategy is working with the right reporting.
This eBook will help you navigate the crowded billiard room of customer data and how you can use it to drive cross-functional value for your team.
Published By: Prophix
Published Date: May 31, 2016
Prophix develops Corporate Performance Management (CPM) software that companies use primarily to manage processes in the finance department, streamlining budgeting, planning, financial reporting and consolidation, and scorecarding.
In this paper, we consider the distinct financial and operational challenges that businesses face when launching international operations, and examine the value that global, real-time financial reporting and consolidation solutions can deliver. We discuss the criteria that companies should use to evaluate solutions.
This whitepaper looks into Governance, compliance, control, and audit, and how its been traditionally treated as afterthoughts, or even irritants, in the financial modules of classic “big ERP” software. It has been easy and, unfortunately, typical to ignore this topic when planning, building, and evaluating enterprise business software. Control concepts are not as urgent as transaction processing, as visible as financial reporting, or as exciting as analytics so they are almost always an afterthought. Today we can’t afford for governance to be an afterthought, and from day one Workday was built with that in mind.
The latest version of CA Project & Portfolio Management facilitates core financial activities with the ease and familiarity of a spreadsheet.
Two years ago, CA began to reevaluate how organizations were leveraging their project and portfolio management solutions. Our goal was to identify ways CA Project & Portfolio Management (CA PPM) could better serve every user, from project, resource and financial managers to executive decision makers and team members.
CA PPM 15.3 simplifies the job of the financial manager with Microsoft Excel®-like functionality, embedded communication and collaboration features, and direct links to the industry’s most popular reporting and business intelligence tools.
The risk reporting environment for banks has changed. Regulatory
imperatives that were largely driven by the financial crisis of 2007—
such as Dodd-Frank, Principles for Effective Risk Data Aggregation
and Risk Reporting (BCBS 239) by the Basel Committee on Banking
Supervision (BCBS), Comprehensive Capital Analysis and Review
(CCAR) and others—are impacting banks around the globe. These
imperatives are forcing banks to rethink and reinvent how their
systems integrate and how data from across the bank flows into
the aggregated risk and capital reports required by regulatory
agencies. Banks must be able to convey to agencies that the data is
complete, correct and consistent in order to establish that the reports
Published By: Anaplan
Published Date: Mar 05, 2015
Financial consolidation systems are the ‘engine room’ of the corporate finance department, enabling companies of all sizes to comply with regulatory reporting requirements, company law and global accounting standards as well satisfy management’s need for periodic management reporting.
But all is not well with standalone consolidations applications that were developed in the 1990’s and which are still commonplace in some of the world’s largest multinationals.
According to one recent report, 47 percent of companies have made substantial investments in the last year in their financial close, filing, and reporting. Yet, despite the considerable sums
of money invested in the process, management teams across the globe remain dissatisfied with the quality and timeliness of management information.
Join us for an informative webinar to hear case studies describing how leading financial services firms have been able to move beyond Excel and save time, enhance collaboration, and improve business decisions -- ultimately resulting in higher revenues and profits.
Join us for an informative webinar and learn how easy it can be to create exceptional value through FP&A. You will hear case studies describing how leading financial services firms worldwide have been able to move beyond Excel and save time, enhance companywide collaboration, and improve business decisions - ultimately resulting in higher revenues and profits. And you'll also see a demo of how Adaptive Planning's award-winning software creates value for enterprise companies.
Published By: Workday
Published Date: Aug 07, 2018
Rethink the way you plan, budget, and forecast. This webinar, hosted by Workday and featuring Paul Hamerman of Forrester Research, provides insight into the advantages of:
Uniting organizational, workforce, and financial data
Collaborating with stakeholders and planning participants
Guiding the business with reporting, dashboards, and scorecards Watch the webinar replay to learn best practices for planning, budgeting, and forecasting that’ll help your organization succeed.
Sanctions screening and fraud prevention solutions use real-time detection to prevent terrorist financing and financial crime; whereas anti-money laundering (AML) primarily follows an “observe and report” process. Such a process is all that is currently required by many regulators. Increasingly though, international compliance teams are choosing to stop transactions before they are executed – based on suspicions of money laundering activity. More and more, the industry has been asking itself if this approach of rejecting suspicious activity is a more effective strategy to prevent money laundering. This paper explores where and why AML real-time detection might make sense as a new paradigm for global financial institutions.
Financial reporting teams, often led by Controllers, face mounting pressure to provide accurate, useful, and timely data, while also decreasing turnaround time and costs. Regulatory agencies don’t care if an organization is short of staff or if its financial management system amounts to a collection of spreadsheets.
Compliance is one of the top challenges facing any payroll and HR department. It’s up to you to ensure that all personnel business practices follow current laws and that you are keeping proper records to document your company’s compliance. While an efficient payroll system can help to enhance employee moral and boost your reputation, mistakes in record-keeping and compliance can result in punitive penalties– even lawsuits. Of course, no business wants to expose itself to such financial and reputational risk. However, keeping up to date with payroll legislation can be a complex task. It’s reported that as many as one in three small businesses are penalised for incorrect payroll. To protect your company from costly fines and even litigation, you need to stay informed about employment laws, reporting rules, and changing workforce compliance issues. In this guide, we look at the challenges and the payroll solutions that will help your payroll department meet its compliance requirements wit
Published By: MarkLogic
Published Date: Jun 19, 2017
Integrate your data silos to finally navigate the data maze.
This comprehensive white paper addresses a key element in any GRC program: regulatory compliance. Download this paper to learn about the costs, current practices, and associated risks. We’ll also recommend a technologically-enabled approach and highlight its main business benefits for financial services, insurance, and energy companies.
A Recommended Approach
Regulatory Compliance Solution Architecture
Published By: MarkLogic
Published Date: Jun 19, 2017
There is opportunity in the ongoing turbulence throughout the financial industry; however, regulatory and compliance challenges absorb resources and distract focus away from growth.
Download white paper to learn about a smart approach to data and innovative tools that build resilience into a business looking to not just weather the storm, but seize the advantage.
- Executive Summary
- Challenges of Financial Markets Today
- The Need for a 360-View of Data
- How to Deliver:
Adapt to Evolving Regulations
Improve Compliance and Lower Cost
- Solution Architecture for Regulatory Reporting
- Case Study: Adapting to Regulatory Complexity
"Disparate systems led to frequent cycles spent correcting errors within the data”.
Published By: MarkLogic
Published Date: Jun 21, 2017
Remember Y2K – the IT “problem” that should have brought businesses to a screeching half? Despite the hype, the preparation led to widely documented business benefits and uncovered new opportunities that transformed organizations worldwide.
Similarly in today’s highly regulated Financial Services industry, enabling GRC by integrating data from silos can be the driver for future business use cases like machine learning and anti-fraud detection services. GRC can be your catalyst for new opportunities.
Listen in as our panel of financial services experts discuss the keys to reinventing your data strategy.
How to align your GRC strategy with a business transformation agenda
How to ensure your organization’s approach to data management isn’t just a one-off solution, but a comprehensive one adaptable to changing regulations
How to navigate the increasing regulatory demands for granular data security
How to turn your compliance spend into new opportunities to earn revenue
Published By: MarkLogic
Published Date: Jun 21, 2017
Global financial organizations are facing increasing demands from the business for more granularity, transparency, reporting and security. If you’re on the IT side, you know this adds a different set of ‘mores’ to the equation: More duplication, delays, and people. What’s the net-net? More cost and more risk.
You can balance the scales to satisfy those demands. And it starts with thinking differently about data management.
Our financial services technology experts will explore the implications of governance, risk and compliance (GRC) imperatives. You’ll learn:
• Why data is at the heart of an effective and dynamic GRC strategy
• Why technological capabilities used to enable standard GRC programs can reduce transparency and prevent you from gaining a holistic view of your data
• A new approach to data can provide the business with complete transparency
• Review a sample regulatory reporting architecture
Stop burning time on tooling — and start building a dynamic GRC strategy that can
While being the backbone of many organization’s Offices of Finance and Accounting, it is now commonly acknowledged that this overreliance on Excel spreadsheets coupled with the lack of visibility associated with its use represents a very real risk. With automation available to improve both process efficiency and effectiveness, the challenge many companies face isn’t why they should transform their process but how.
The key to overcoming this challenge is creating a strong business case for investment. One that not only sets out the objectives of the project but is also underpinned by a robust financial analysis, in the form of qualitative and quantitative ROI, and a thorough understanding of risk.
One of the most common things we hear when we speak to companies about improving their financial close process through automation is “But I already have an ERP system.” It’s true that an ERP goes a long way towards helping manage some of the financial close process. However, there is still a great deal of work that is taken outside of the ERP each period end and managed manually.