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6 Ways IT Can Improve Financial Agility

  • 6 Ways IT Can Improve Financial Agility-

    Integrate Finance with ERP

    Finance professionals want financial planning systems that tightly integrate with core ERP systems. With a tight integration between the two processes, financial decision-making becomes a streamlined and effective procedure. Eighty-two percent of respondents with financial planning systems that were tightly integrated with core ERP systems believe that this factor was a great help to the finance decision-making process. On the other hand, out of the respondents who lacked integration between the two processes, only 12 percent felt that their IT systems contributed to finance’s ability to support decision-making.

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6 Ways IT Can Improve Financial Agility

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  • 6 Ways IT Can Improve Financial Agility-5

    Integrate Finance with ERP

    Finance professionals want financial planning systems that tightly integrate with core ERP systems. With a tight integration between the two processes, financial decision-making becomes a streamlined and effective procedure. Eighty-two percent of respondents with financial planning systems that were tightly integrated with core ERP systems believe that this factor was a great help to the finance decision-making process. On the other hand, out of the respondents who lacked integration between the two processes, only 12 percent felt that their IT systems contributed to finance’s ability to support decision-making.

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.