Industry analyst, Mint Jutras, has published a report looking at the merits of Unit4’s self-driving ERP™. It says that it has the potential of being ground breaking. As well as providing a great overview of what we mean by self-driving ERP, it details some in-practice examples where services organizations can benefit every day from manual time and effort reductions, productivity gains and customer service improvements.
One example focuses on a professional services firm and gives a fascinating, real world look at how this approach to enterprise computing will pay dividends.
The intake of digitally advanced Millennials is a great thing for employers but at the same time is creating the most diverse workforces we have ever seen. There is a big divide between people’s digital abilities and willingness to embrace a new way of working.
The final stage of the model is where you bring it all together. CFOs are becoming increasingly involved in general business strategy, and need to display a full understanding of the company’s operations.
Maximizing business information performance and driving reliable information are big parts of this function, along with leveraging data to stay ahead in an increasingly competitive business landscape. At this level, CFOs learn how to utilize the data and insights provided by the previous stages to make more knowledgeable business decisions and increase the bottom line.
The focus at this level is applying business intelligence to drive overall business growth. This centers around forming a clear data strategy and specific protocols for increasing the performance of your finance information system. In turn, it also involves increasing opportunities and expansion. You must be able to leverage financial data technology to make crucial information available to the people who need it as soon as they want it. The main goal should be putting an accessible, intuitive and automated self-service system in place to provide the necessary functionality. Continue reading
The third stage of the business empowerment maturity model involves gathering and analyzing data, forecasting financial performance and making plans based on those predictions. Everything from asset management and market differentiation to business budgeting and target setting depend on reliable business intelligence and accurate data analysis, so the structure and efficiency you developed in the earlier stages really come into play here.
Implementing a flexible, real-time system can help you create better forecasts, develop more effective financial strategies and meet future challenges head on.
The keys at this stage are improving the business intelligence process, maximizing financial analysis and forecasting performance, and improving the planning process. These are some of the most basic tasks CFOs carry out, so they may seem like easy fixes at first glance. However, there’s a lot more to making permanent changes in these areas than simple tweaks. These concepts are deeply intertwined, so small problems with your business intelligence can lead to inaccurate analysis, which then snowballs into big issues with any predictions and plans you develop. CFOs must address a number of issues to ensure that each point receives the attention it deserves. Continue reading
We’ve talked about self-driving ERP before and today’s announcement detailing an alliance with Microsoft brings us another step closer to delivering our vision.