Competing To Win: How Cloud Accounting Software Enables Growth
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Transcript of Competing To Win: How Cloud Accounting Software Enables Growth
To contribute to meeting overall business strategy, improve corporate performance
and enable growth, CFOs plan their activity. This is their starting line.
Competing to Win – Defining the Landscape ndh group - 2
CFO Starting Line
What CFOs plan to do to win
Competing to Win – Defining the Landscape ndh group - 3
CFO Peer Activity
Select Activity
2015 Activity Index
2014 Activity Index
YOY Δ (2014 to
2015)
Budgeting 7.1 6.8 Period-End Close 6.9 6.7 Cash Forecasting 6.8 6.8 Profitability Analysis 6.8 6.6 Performance Mgm.’t Dashboards 6.6 6.6
Competing to Win – Defining the Landscape ndh group - 4
CFO Burdens
Competing to Win – Defining the Landscape ndh group - 5
CFO Takeaways
Competing to Win – Defining the Landscape ndh group - 6
CFOs Getting There
How do CFOs get there? Holistically: people, process, and technology
We focus on technology as a tool to help CFOs improve corp. performance
People
Process
Technology
Competing to Win – Architecture & Environment ndh group - 7
Technology Platform: Introducing Intacct
9,000+ public & private companies
and organizations trust Intacct ERP
Competing to Win – Architecture & Environment ndh group - 8
Getting 20% Back
Question: Can CFOs compete to win with a 20% inefficiency of activities?
Or, what would get 20% of their time back?
20%
Reducing Inefficient Activities
Infrastructure
Internal Controls
Ad Hoc Reporting
Competing to Win – Architecture & Environment ndh group - 9
Getting 20% Back: Infrastructure
Cloud allows organizations to eliminate hardware, software, their maintenance, and safely store data.
36%
38%
37%
37%
36%
32%
29%
25%
Allows us to focus resources on more important projects
Speed of implementation and deployment
Improved business agility
Faster delivery of new features and functions from SaaS providers
Peer Group: Top Benefits of SaaS
Important Very Important
Courtesy: Forrester Consulting, 2013. Survey of software decision-makers with 20 – 500 employees.
Competing to Win – Architecture & Environment ndh group - 10
Getting 20% Back: Infrastructure
Multi-tenancy is a single instance of software managed for a group of users. Note: Not all “Cloud”
is multi-tenant; many offerings are single-tenant.
Unique Aspects of Multi-Tenancy:
• Architecture
• Economics
• Deployment
• Updates
• Security
Multi-Tenant Software
Competing to Win – Architecture & Environment ndh group - 11
Getting 20% Back: Infrastructure
Courtesy: kaushik.net
Infrastructure Models
Centralized model leverages a single source of code to impart instantaneous change to core functions.
Competing to Win – Architecture & Environment ndh group - 12
Getting 20% Back: Infrastructure
Courtesy: Phil Wainewright
While centralized model imparts change to core functions, advanced Cloud lets you safely customize.
Customizations safe during updates:
• Data Model
• Transaction Definitions
• Triggers
• Smart Rules
• Smart Events
• Applications
• Middleware
“Conventional software packages can’t accommodate change
without involving IT specialists.” 7 Reasons to Move to Cloud Financials Now
Competing to Win – Architecture & Environment ndh group - 13
Getting 20% Back: Infrastructure
Speed and scale require the right infrastructure to allow you to grow without fear of future migration.
Our Current
Business Size
I’m here…
100X Larger
But, I plan to be here
Competing to Win – Architecture & Environment ndh group - 14
Getting 20% Back: Infrastructure
No system will provide 100% of the functionality you want, so systems must be open for integration.
Suite Best in Class
“All-in-one” solution. Attempts to sponsor a broad application set.
Options for integrating with other “best of” systems.
SaaS Financial System Approaches
• What If I don’t want to pay for the suite?
• How well supported is the integration?
Competing to Win – Architecture & Environment ndh group - 15
Getting 20% Back: Infrastructure
“A [modern] cloud system also has the flexibility to run certain capabilities as built-in modules instead of requiring separate specialist systems.” 7 Reasons to
Move to Cloud Financials Now
It used to be Cloud or advanced features. Now, it’s both. Cloud systems are overtaking traditional ERP.
Business Intelligence
Custom Reporting
Revenue Recognition
Multi-Currency Management
Project Management
Multi-Book Management
Multi-Entity Consolidation
Global Consolidation
Competing to Win – Architecture & Environment ndh group - 16
Getting 20% Back: Infrastructure
Mobile is eating the world, with social media engaging the same users. A perfect setting for cloud.
“What Chatter does is put a communication and
collaboration layer across the entire enterprise.”
“Why Chatter has changed the world” EnterpriseAppsTech
“Both technologies are valuable on their own, but
enterprise potential is amplified when mobile and
cloud are used together.” TechTarget
Competing to Win – Architecture & Environment ndh group - 17
Getting 20% Back: Internal Controls
Managing risk. A trusted cloud partner safeguards against external threats, and offers tools for IC.
Service level agreement supporting:
• Uptime
• Disaster Recovery
• Data Ownership
• Customization Safeguards
• Rapid Response
• SSAE 16 (SAS 70) Opinion AICPA Endorses Intacct
Competing to Win – Architecture & Environment ndh group - 18
Getting 20% Back: Ad Hoc Reporting
Financial
Operational
Computational
A world of data. The power of managing different types and sources of data from a single system.
Competing to Win – Architecture & Environment ndh group - 19
Getting 20% Back: Ad Hoc Reporting
“Analysis To Insights To Action, Faster!”
(kaushik.net)
Data that can be detailed and reported on according to
multiple segments uncover hidden profit and loss.
A world of dimensions. The power of detailing performance according to multiple segments.
Competing to Win – Architecture & Environment ndh group - 20
Getting 20% Back: Ad Hoc Reporting
Built on broad data structures and powerful reporting, real-time results are analyzed and shared.
Presentation
Unified Reporting (Dashboards)
Reports & Graphs
Data Structures
Data Types Data Dimensions
40% Number of full-time employees
in finance departments (Hackett Group)
“The automation is a Big Factor”
Competing to Win – Automation ndh group - 21
Enter the Robot
Competing to Win – Automation ndh group - 22
Enter the Robot: What Robot?
Competing to Win – Automation ndh group - 23
Enter the Robot: The Efficient Robot
Processes Ripe for Automation
Payment Execution Revenue Recognition Billing Rules
Labor Job Costing
Report Distribution FA Maintenance
Sales Order
Workflow Data
Validation
Invoice Delivery
Approvals
Purchase Order Workflow
Consolidation
CRM Posting
T&E Metrics
Reporting FCA Collections Reporting
Technology correctly applied to work processes creates returns and prepares for a changing course.
Competing to Win – Tools for the Task ndh group - 24
Advancing CFO Priorities: Viewing Working Cap.
Cash is king. Without accurate and real-time updates to cash metrics you have little chance of
operating in synch with your current or future plans.
Competing to Win – Tools for the Task ndh group - 25
Advancing CFO Priorities: Accelerate Workflows
Automating your workflows, and customizing them, drives efficiency. Managing them from a single point
of reference drives the next level of efficiency.
Competing to Win – Tools for the Task ndh group - 26
Advancing CFO Priorities: Profitability Analysis
Let’s face it: Excel gives CFOs the flexibility to drill down on financial performance and position. What if you had the same power within your ERP system?
Competing to Win – Tools for the Task ndh group - 27
Advancing CFO Priorities: Better Visual Clues
Data visualization, performance prompts, and trend thumbnails give CFOs a convenient touchstone, and sometimes a wake-up call for changes to operation.
Competing to Win – CFO Finish Line ndh group - 28
Conclusion: Cloud Accounting Growth
“2015: 80% of our accounting software buyers are considering cloud for their next implementation.*”
Courtesy: *TechTarget Purchase Intentions Study 2015© / **See G2 Crowd Grid for Accounting, Summer 2015
In 2011 Intacct had 5,000 customers. In 2015, the numbers
increased 80% to 9,000. A leader in
growth and customer satisfaction.**
2,400
3,100
4,000
5,000 5,500
6,000
8,500 9,000
2008 2009 2010 2011 2012 2013 2014 2015 (H1)
Intacct Customer Growth
Competing to Win – CFO Finish Line ndh group - 29
Conclusion: Achieving Your Goals
With 20% of your time back, and the ability to meet top priorities, you can compete to win.
Strategic Benefits of Operational Success Increase
Shareholder Value
Enable Growth
Operational Success
Competing to Win – CFO Finish Line ndh group - 30
Conclusion: A Team
We manage for long-term success, and differentiate our services using the experience we’ve developed
as an Intacct Partner over the past 12 years.
For Information on Cloud Financial Management Systems Contact:
Seth Pomeroy, CPA, MIS / [email protected] / 312.461.0505