09/03/2021 Finance Analytics
Finance Analytics
Work Email
“
We haven’t yet seen better quality decisions getting made despite investing in data
scientists and expensive systems with advanced analytic capabilities.
”
CFO, Fortune 500 Company
Finance analytics: Big investment, very low return
Finance analytics reporting and support account for almost one-third of finance
function spend. But these investments are failing us: Finance data is not suited to
modern decision making, and managers lack the knowledge to use it correctly.
Misuse of finance analytics can cost organizations as much as 1% of revenue per
decision, adding up to dramatic business impact over time.
Recapture the value of finance analytics
Enforcing standards through tighter policies and controls will not improve finance
analytics usage or usefulness. Instead, as a part of finance transformation efforts,
business managers and finance staff should collaboratively define, develop and
apply finance analytics. Decision teams with clear data governance roles and
responsibilities can brainstorm problem economics, co-create more intuitive
reporting formats and push one another’s thinking.
Insights you can use
Leading organizations embrace a business-centric approach to finance analytics.
To enable growth, generate finance analytics that significantly improve decision
making.
Create a shared view of business objectives and drivers
Despite the significant investment in analytics, few finance organizations have
attained a high enough level of maturity to implement advanced analytics.
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09/03/2021 Finance Analytics
Business managers and finance staff should co-design finance analytics
frameworks for a shared view of performance.
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Make it easier to act on finance analytics reports
Shift finance analytics from passive, standardized reporting to more engaging,
relevant guidance that encourages dialogue and discussion by:
Basing finance analytics on scenario analysis
Building more commentary and opinion into finance analytics reports
Making finance analytics reports more accessible
Learn More
Use finance analytics to motivate better decision
making
Progressive organizations are reorienting roles for joint finance analytics decision
making. To start, focus on business decisions first and finance analytics last. Then
improve finance analytics problem-solving processes by anticipating and planning
for failure early.
Learn More
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How Gartner helps clients with finance analytics
Listen to the CFO at March of Dimes discuss how Gartner helped with finance
analytics, specifically defining metrics and creating value.
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09/03/2021 Finance Analytics
Gartner finance analytics experts
Gartner’s finance experts include more than 35 associates worldwide. Meet a few
of our leaders.
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