6 Ways IT Can Improve Financial Agility

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Support Real-Time Analysis

The study found that 84 percent of finance executives believe that, over the next two years, the demand for ad-hoc decision support and analysis is likely to increase. Thirty-two percent believe that the demand for real-time analysis will increase substantially as well during the same timeframe. IT can support this demand by automating outdated systems and standardizing financial reporting across organizations.

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.

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