Can CFOs really use Big Data for Finance Analytics?
With rare exceptions, until now the closest that Big Data has come to the CFO's office has been via the well-publicized examples involving the enormous consumer databases of credit card vendors, who use them to identify pertinent information, and then sell data on the buying patterns, credit worthiness of the customer pool, among other things.
The typical finance department hardly encounters anything close to the size of those terabyte-scale databases when closing the books, preparing budgets and forecasting revenues.
Create Insight, Impact & Innovation for Financial Services
The promise of Big Data and analytics for CFOs is addressed in scrubbing financial transactions which are aligned to cleanly capture and benefit from more advanced analysis to finding oddities and patterns.
For example, although individual payment transactions may each appear appropriate, advanced analytics can help identify areas that may represent fraud, which can then be investigated further. Similarly, credit risk can be better predicted by looking at large amounts of data and more efficient analysis tools that can help audit more transactions and even utilize unstructured data to identify potential outliers.
The Outsourcing Advantage
Instead of building expensive in-house analytics teams, partnering with a specialized integrator allows businesses to quickly deploy advanced analytical frameworks.
An outside firm with a strong history as a system integrator provides the integration and analytics that standard ERP systems lack.
AM Technology offers both - providing optimized, custom analytics solutions designed to streamline your financial systems.
Streamlining Financial Operations
Our automated solutions simplify financial reporting, save costs, and reduce manual effort. With cloud-enabled access, your team can securely view real-time reports and customized dashboards from anywhere in the world.