The Association of Financial Professionals (AFP) has published a guide to big data, explaining how financial professionals can harness big data in core financial processes.
How FP&A Can Embrace Big Data to Drive Smarter Decisions looks at concrete steps finance departments can take to get ready for big-data projects.
According to the guide, there are also real issues around data integrity and governance, the adoption of the right integration and analytics tools, and a necessary shift in FP&A’s mindset and skill set.
The guide even goes so far as to state that “finance is poised to assume a leadership role as the analytics 'hub' for the organization.”
The guide has the following 'key takeaways':
- Big data is destined to change finance’s role in the organisation.
- It’s creating an opportunity for FP&A to instil an insight-driven, forward-looking culture.
- Finance is catching up with other functions in adopting of big-data strategies.
- A large telecom company, Ratner Companies, and Payless ShoeSource weigh in.
Key problem in Cyberspace: Staff downloading firm data to personal devices
Washington Post Cybersecurity Summit revealed many key questions including, ‘How should government deploy their power to protect society in cyber space?’ ‘How can companies protect themselves?’
Enhanced Data will enable automated reconciliation for corporates – Payments UK
A report published by Payments UK explains how having more data linked to a payment would benefit corporates making payments in the UK.
Spend analytics is vital in ensuring maximum efficiency in procure-to-pay cycle
Bottomline Technologies joins OB10, Ariba, etc. in providing predictive analytics capabilities