by Hazel M Bennett
We would like to thank Michael Taylor, Andrew Craig and James Wakefield from Tridant for their insights at The CFO Incubator Alumni Fireside chat, “When Data takes over Finance: What do finance leaders need to survive & succeed”.
Since its foundation in 2007, Tridant has earned an enviable reputation as one of Asia Pacific’s most trusted Information Technology consultancies. With a focus on client success, they have a proven agility in enabling organisations to extract deep insights from their data, facilitate forward-thinking decision making and achieve competitiveness within the marketplace.
They provided our CFOI group with firsthand knowledge on the key pains organisations and the office of Finance, in particular, are seeking help to resolve as data continues to “take over” finance including:
- Death by excel
- Levels of human intervention in the entire process from data wrangling and report building
- Month-end close processes that take weeks
- Multiple data sources, but little knowledge on the best way to integrate and blend that data, for true accurate KPIs
As BI continues to evolve and address these pain points, it means that the finance function is spending less time preparing and more time on analysing the data and decision making.
They also delved into how the BI technology landscape has evolved in the last 10 years. In today’s market, there are many more players doing similar things – now it’s less about technology, more about people and process factors in driving success. They gave their thoughts on what is the winning recipe for organisations who want to implement Data and Analytics strategies. They also provided advice for Senior Managers wanting to get things moving in their current organisation. Particularly on how they should approach getting trusted advisors across the leading offerings, while also ensuring they have the skills to be involved and keep on top of an end-to-end BI transformation whilst it’s being implemented and help manage the whole transformation afterwards.
We finished the session by asking them what were their 3 key tips for companies and professionals wanting to improve their BI. Watch to find out what they think today’s Finance & Accounting professionals/businesses need to do to prepare themselves and their businesses skill-wise for the future.
Do you need help with finding solutions to allow you to maximise the value of your people, data and technology investments?
Tridant are happy to consult with your business to achieve maximum impact and success, contact Tridant directly here.
If you would like to find out more about our program visit The CFO Incubator program webpage here
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