While personal finance has transformed over the past decade to include a customized, personalized delivery of services and mobile apps, those who work in the office of finance within corporations will be hard-pressed to see much change in their day-to-day office lives.
Improving services for finance workers needs to start at the source, or rather the source system.
Modern data architecture dictates that finance systems such as Oracle’s E-Business Suite or NetSuite must be extracted and loaded into dedicated analytics environments.
Traditionally, complex software engineering transforms and refines this data into enterprise data warehouses, or further into data marts that get used for reporting and dashboarding. When new data arrives or source systems change, we start the whole process again. And again. And again.
Indeed, the office of finance has been conditioned — one might say brainwashed! — by 30 years of legacy data implementations to expect for it to take up to three years to get just about anything done. It’s a 12- to 24-month journey to achieve value for most data warehouse and visualization projects. Finance professionals can’t wait. They don’t want a data warehouse. They want answers.
With these kinds of glacial time scales, pressured workers turn to getting their hands on data any way they can, often through one-off extracts that feed a culture of “dark data,” with spreadsheets that rarely reconcile when brought back together in the CFO’s weekly meetings.
Improving the digital experience for finance workers also starts with the source system.
However, instead of costly, time-consuming data pipelines to move data around an organization, we need innovation that delivers all the value from the source while eliminating the complexity of the legacy “data plumbing” that has consistently failed to deliver insights on time.
When finance professionals can access the data from their digital systems directly, the wait is over. Real-time insights on critical business processes become unlocked. The CFO gets the answer they need for their big meeting — and the numbers reconcile to the books. Hard-working finance teams get to level up and solve the next big challenge.
To see how Incorta makes it possible, join us for an upcoming LIVE virtual hands-on lab — Deliver Financial and Operational Analytics through a Truly Agile Data Pipeline with Incorta — on September 15 at 12:00p.m. ET / 9:00 a.m. PT.
Prefer taking a more hands-on approach? Trying out the Incorta platform is fast, easy and free. Spin up a free trial today and put it to the test.