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6 Ways IT Can Improve Financial Agility

  • 6 Ways IT Can Improve Financial Agility-

    Ease Data Migration

    Eighty-three percent of respondents believe that their companies would financially benefit from less time, attention and resources devoted to data migration and manual reconciliation. A lack of digital infrastructure makes finance professionals feel as though they are wasting their time, waiting for technologies that cannot keep up with the real-time nature of the financial industry.  By providing financial experts with the proper foundation for data migration, costs, risks and time consumption can be mitigated.

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6 Ways IT Can Improve Financial Agility

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  • 6 Ways IT Can Improve Financial Agility-6

    Ease Data Migration

    Eighty-three percent of respondents believe that their companies would financially benefit from less time, attention and resources devoted to data migration and manual reconciliation. A lack of digital infrastructure makes finance professionals feel as though they are wasting their time, waiting for technologies that cannot keep up with the real-time nature of the financial industry.  By providing financial experts with the proper foundation for data migration, costs, risks and time consumption can be mitigated.

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.