Business Intelligence initiatives led by Finance Teams are different in their costs, outcomes and success rates…
Finance teams serve the Board and the entire organization, providing the organization’s law or truth as it relates to performance and planning. Business Intelligence projects led by Finance teams initiate with clear objectives to meet required outcomes.
Many Business Intelligence Projects Fail…
It is widely understood that the majority of Business Intelligence (BI) projects fail. They overshoot already interminable deadlines, are far more expensive than initially planned and rarely seem to meet their objectives where any specific objectives are set. It is incredible that many BI projects start without any clear commercial imperatives to be met but instead view BI from a purely process orientation.
Finance-led initiatives often succeed
In a Finance led BI initiative the scope may reasonably drift on an Agile basis as more is learned about what is possible and what is needed as the project continues but Finance will insist on outcomes. The Finance world has imperatives, both internal and external and this makes Finance teams demanding by nature. They set a high standard in terms of ease of use of the products they use (hence the runaway success of Excel) and will, by necessity, sidestep anything that is too hard to use or too hard to understand. Innately these things are assessed as risk and creating risk is unacceptable.
With these high standards, Finance teams have a tendency to deliver enormously successful BI for Finance projects when given the right tools, sponsorship, people and software to succeed. We hear a lot about failed IT-led BI projects in the public domain but little about the successful Finance-led BI projects, largely because Finance people are inherently bad at self-promotion. Fewer projects are started, even when the investment metrics so clearly stack up, because many Finance teams are hesitant to spend money that will make their lives easier, fearing that this will set an unsustainable spending example to the remainder of the organisation, or simply because it all looks too hard. This classically penny wise pound foolish approach is starting to recede as the role of Finance in successfully delivering BI emerges.
One product to do it all…
CALUMO is the one product that can do it all through a single unified application. Learning in the production of one outcome is always leveraged into the achievement of others.
At CALUMO, Business Intelligence is in our blood and Finance is there right alongside it. Our people are Finance people in attitude and aptitude and our applications, solutions and client satisfaction rates are our clearest evidence.