BI for Finance vs Big BI Project

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Depending on your organisation’s stage of development in Business Intelligence you may already have started or finished the Big BI project with the usual mixed results. If you have not yet had the benefit of a Finance people led BI initiative with CALUMO, you have important needs that have not yet been addressed.

So how do these two Business Intelligence related activities fit together?

However extensively you want to engage with Business Intelligence, CALUMO can take you there. CALUMO can also reach places that the others can’t, including directly into the heart of the specific needs of Finance as they service the Board, Regulatory authorities and the rest of the organisation.

An initiative with CALUMO is inherently Agile. Important things get done first and done first fast. Then progressively lower priority issues come into focus and can be resolved. There is no big bang, just a constant stream of accumulating wins for your organisation that lead to greater efficiency, effectiveness and stakeholder satisfaction.

BI for Finance The Big BI Project
Initial Focus Ad-hoc Analysis, Management Reporting, Statutory and Regulatory reporting, Planning and forecasting. Priority items addressed first. See Applications and Outcomes. Sales and customer reporting with epiphany-based BI tools. Budgeting, Planning and forecasting is not a part of this project and never will be.
Extensions Next priority items and deeper analysis. This includes extensions to reporting and planning eg. continuous forecasting. Data Mining and Big Data
Approach Agile. A constant stream of small, fast deliveries allowing for modifications to ensure needs are met in delivered product Typically Waterfall. Extensive time spent on detailed requirements gathering, building test and deployment. An emphasis on delivery to unchanged initial requirements whether or not these prove to be ultimately useful to the stakeholders
Time to first delivery 1 week max. 6 months and beyond
Requirements Gathering Short focus on objectives, required outcomes and opportunities before prototyping commences to clarify. See our article on Agile Business Intelligence projects Long, involved and in the absence of context about the capability of the products other than for the teams prior experiences.
Authorization Start fast knowing that directions can be tuned as priorities shift. Big lump approval. Long approval cycles with practically no opportunity to refine based on shifting priorities.
Attitude to Finance priorities These must be resolved quickly as high priority items. ERP’s excellent for transaction capture and control but painfully inadequate for analysis and combining multiple data sources. BI makes the difference. Finance have the ERP, it does everything they should need.

1. Save significant time for finance people.

2. Remove key man risk. Report should not be dependent on 1 or 2 people.

3. Self-service BI – business users access their reports and can answer questions themselves.

1. Built and run by Finance People.

2. Dramatically reduce the time and cost involved in the budget process.

3. Significantly increase accuracy. Remove the risk of human error involved in manual data handling.

1. Instant access for Instant visibility.

2. Analyze with ease.

3. Built for finance people and business analysts.

1. Reforecast at a moment’s notice.

2. Remove the constraint of financial year end for decision making.

3. Decrease time required for the budget process.

1. Get answers Instantly, save hours of efforts.

2. Reduce spend on audit fees.

3. Reduce Finance’s investigation time.

1. Access all your data. Make decisions now.

2. Access to your data at any time

3. Don’t wait for other people for information

1. Save days, weeks and months while dramatically improving user satisfaction

2. No more dumping 1,000’s of transactions and massaging in the hope of finding answers.

3. No more waiting for IT or Finance to produce special analysis

1. Get answers Instantly, save hours.

2. Reduce spend on audit fees.

3. Reduce Finance’s investigation time.

1. Dynamic, live and interactive.

2. Month-end is complete when the last journal is posted.

3. No more printing required.

1. Professional and really good looking

2. Use data from any source

3. Always have the very latest data

1. No bottlenecks. You are not dependent on other people.

2. Build Reports with speed and ease

3. Use your existing knowledge of Excel for fast report building

1. Keep Excel as your report authoring tool

2. Remove the excess workbooks you don’t need with Excel

3. Convert Excel sheets to dynamic web pages

1. Fast report building – Finance people and Business Analysts can build and share reports in minutes.

2. Self Service BI i.e. no reliance on IT to produce reports.

3. Trusted and enterprise grade database.

Caas-Network
Web Users have read and write (reporting, budgeting and forecasting) access to all CALUMO Web Portal content.
Office Connected Users have access to CALUMO Office integration with Microsoft Excel, Word and PowerPoint.
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