Best practices, Customer stories, Finance IT modernization

Does your financial analytics platform have the staying power/momentum to succeed?

In our “App Week” virtual event series, we shone a spotlight on companies that used Incorta Data Apps to give their data-starved Finance teams the key insights they needed to make quicker, substantially better decisions — and do it faster than they ever believed possible. 

Companies like:

  • Gulf Insurance Group (GIG), empowered business users to generate insights, grow revenue, improve profitability, and manage regulatory complexity on their own — all while remaining consistent and compliant.
  • Light & Wonder, uses a new Incorta/Blackline integration to ingest detailed data from multiple source systems. Hence, its Finance team has a single source of data truth — down to the sub-ledger details.
  • And PlayPower, Inc., now gives manufacturing, supply chain, sales, and finance functions accurate, unified data their teams use to make better decisions and nimbly pivot whenever the market demands.

In some cases, they completely transformed their businesses along the way.

So how’d they do it? 

It all came down to momentum — delivering quick results that built user and executive team confidence in their finance analytics initiatives. 

But until recently, “momentum” was the last word typically used to describe financial analytics projects. That’s because financial analysis involves data that’s in constant motion, transactions that are processed within critical ERP systems like Oracle E-Business Suite (EBS) or SAP, plans and forecasts that are shaped in systems like Anaplan or OneStream, reconciliation and statutory reporting that’s handled in platforms like BlackLine, and reports and dashboards rendered by traditional business intelligence (BI) tools like Tableau and Power BI. 

Hiding behind these processes is a complex weave of technologies that lead to fragmented data and data silos that prevent Finance teams from tapping a single, detailed source of truth. 

The result is financial process gaps that lead to delays and frustration whenever financial analysts try to build new analyses or use data to answer challenging questions from leaders.

Now, however, you *can* apply a word like “momentum” to financial analytics — but only if you can quickly power up important financial analysis use cases and deliver rapid data acquisition, data governance, data lineage, and data analytics across complex, transactional applications like Oracle EBS, Oracle ERP Cloud, Oracle NetSuite, SAP, JD Edwards, and Salesforce.

Luckily, it’s much easier — and faster — to do than you might think. 

And it’s exactly what we designed our Data Applications for.

Incorta Data Applications greatly reduce the amount of work needed to give users access to the detailed data, reports, and KPIs derived from complex sources and use cases. They’re based on community intelligence and best practices and include prebuilt business schemas, pre-configured data mappings, intricate join structures, business views of key metrics, sample reports, rich visualizations, analytic dashboard templates, and sample data. Each Data Application covers multiple functional areas and requires only light customization to account for specific feature preferences.

Our financial analytics Data Applications for Oracle EBS, for example, features a GL Journal Details drill dashboard along with sub-ledger drill dashboards for Accounts Payable, Accounts Receivable, Inventory, Projects, and Fixed Assets. It’s a great way to quickly and elegantly modernize your financial analytics. 

Are you ready to learn more?

Watch the on-demand App Week recordings

Beating the data delay: building data value faster for financial services

  • By Hassan Abdulrahman, Senior Architect Manager at Gulf Insurance Group (GIG)

Driving operational efficiencies with BlackLine and Light & Wonder

  • By Rich Rodgers, former VP of Business Development for Finance at Incorta and Rodney Grey, Accounting Manager at Light & Wonder

How to rethink your analytics stack — from financial, operations, and revenue reporting to ML

  • By Alfred Sobrinho, Global VP of IT at PlayPower, Inc.

See a full list of all App Week recordings.