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6 Ways IT Can Improve Financial Agility

  • 6 Ways IT Can Improve Financial Agility-

    Help Define Data Standards

    Thirty-one percent of finance professionals feel that the greatest barriers they face to improving their companies' financial planning and analysis capabilities are a lack of data standardization and poor integration with IT. IT can help decide the most relevant and available data for finance to consider, tapping into disparate systems to develop relevant business insights. 

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6 Ways IT Can Improve Financial Agility

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  • 6 Ways IT Can Improve Financial Agility-2

    Help Define Data Standards

    Thirty-one percent of finance professionals feel that the greatest barriers they face to improving their companies' financial planning and analysis capabilities are a lack of data standardization and poor integration with IT. IT can help decide the most relevant and available data for finance to consider, tapping into disparate systems to develop relevant business insights. 

As the finance function becomes increasingly dependent on automation and analytics, finance and IT are more connected than ever before. But these connections don’t come without challenges. According to a recent study of finance professionals, many in finance are unable to streamline processes and achieve success as a result of the failing tools at their disposal. The failure isn’t a breakdown in innovation – it’s the speed of change. The rate at which technologies are being adopted is much slower than the rate of new innovation.

This breakdown in adoption places an increasing pressure on IT to support a business-critical function. IT must work with finance to improve agility and drive additional business value.

In this slideshow, SAP S/4 HANA Finance has identified six ways IT can improve financial agility and decision making.