IBM: Analytics can help businesses make smarter financial decisions

10.07.2012
There is increasing pressure to gain more visibility, insight, and control to drive the firm's financial stability. To meet these demands, organizations are placing greater emphasis on end-to-end reporting, scenario modeling, optimizing, and effective planning and forecasting.

Finance organizations must drive a smarter enterprise through improved analytics and operations efficiency. Surviving and thriving in the recovery means anticipating and shaping business outcomes, and driving transparency to manage risk and improve decision making.

At the IBM Finance Forum 2012, special guest keynote speaker and New Zealand based bestselling author David Parmenter talked about key performance indexes. He provided insights on:

" Understanding the myths of performance measurement that lead to failure

" The foundations stones required to revitalize performance (including abandoning processes that do not work)

" Turning reporting into a decision based tool (including a one page summary A3 report to the CEO, one page board dashboard concise financials, brief business unit reports, a one page investment proposal summary etc)