We just got back from the FEI Leadership Summit in Las Vegas where we met a ton of financial executives from organizations nationwide (and some from Canada!). We hosted a networking dinner at Neros in Caesar’s Palace and had the opportunity to meet one-on-one with many wonderful people with whom we hope to continue conversation in the future. Thank you to everyone who attended and generously spent your night with us.
arcplan’s own Kathleen Rohrecker spoke on a panel for FEI’s Committee on Finance and Information Technology called “The Corporate Performance Dashboard: Planning, Budgeting and Forecasting.” We thought it would be helpful to provide you with a summary of this panel, as well as links to some additional resources.
The Discussion Points:
- Finance executives have an opportunity to become "value integrators" in the organization by consulting with other groups about how they impact financial performance, thus improving results.
- Many finance teams cannot begin to do so because they are mired in process inefficiency (think financial reporting in Excel or manual BP&F processes), which dilutes the ability to partner within the organization and simply drains their resources such that they just don’t have the time to "consult."
- A lack of timely and complete information for analysis is a major problem among finance teams and, indeed throughout the organization, as indicated by the 2010 Gartner FEI Survey of Financial Executives.
- A good piece of technology can go a long way towards improving process efficiency for finance teams, as well as information access and understanding across the organization.
- Companies large and small, public and private can drive better corporate performance through conversations fueled by information that is delivered by good technology. Finance is in a unique position to drive these initiatives.
If you attended this panel or are interested in more information about the case studies Kathleen mentioned, check out these links:
- AmerisourceBergen uses arcplan Edge to save money and time and improve efficiency in their financial processes.
- Graham Packaging cut costs while improving supplier quality by using arcplan Enterprise-powered scorecards and dashboards.
Did you attend FEI this year? What were your takeaways from the show?