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Finance

Five Ideas: Finance

July 2017

Monitoring performance will always be important, but increasingly it will be done in real time through connected systems that enable finance to identify issues before they become problems and recommend entirely new strategies based on internal and external data and in-depth knowledge of the business.

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To help companies identify viable solutions for moving core finance processes to the cloud, Gartner recently published a new Magic Quadrant focused on cloud-based core financial management suites, citing Oracle Enterprise Resource Planning (ERP) Cloud a leader for ability to execute and furthest for completeness of vision.

Here, learn more about Gartner’s report, plus hear from experts about how the new role of finance is changing organizations—and how robots will drive further disruption.

“Finance must be highly predictive, leading digital transformation and not just reacting to it.” —Rondy Ng, Oracle Senior Vice President of Applications Development

“The learnings from the move of finance and HR to the cloud will ultimately spread across the organization as, together, they conceptualize the shape of the next disruption.” —Steve Cox, Group Vice President of Oracle ERP and EPM Product Marketing

“Our vision is for seamless integration with key suppliers and with our own engineering and manufacturing teams. This type of versatility and scalability was the driving force behind our move to the cloud.” —Luke Kelly, Vice President of Finance, Carbon

“More than 50 percent of shared services centers have yet to implement [Robotic Process Automation, but] we are seeing a waterfall of pilots turning into full implementations.” —Barbara Hodge, Global Editor, Shared Services and Outsourcing Network (SSON)

“Many of the finance processes that have been outsourced overseas—such as procure-to-pay, accounts payable, and even simple exception handling—will eventually be done by bots.” —Arun Khehar, Senior Vice President Applications, Oracle ECEMEA

Photography by Shutterstock