How finance professionals can use data to plan for the future

 With the right solution, data can not only give finance a clearer picture of what happened, it can also help you anticipate what's to come.

As businesses turn to a digital-first approach, unlocking the power of data is more valuable than ever before. Yet it’s not that straightforward. When data operates in silos, it can often result in missed opportunities, compromised integrity and less-informed decision-making. With so many sources, many businesses become overwhelmed, and performance can suffer.

An asset, not an obstacle

Board International brings clarity to the confusion. Founded in 1994, Board provides businesses with a flexible, all-in-one decision-making platform that allows finance a holistic view of the entire business, through fully integrated planning for all financial activities linked with strategic and operational plans.

Users can intuitively create and play with data, a process that can have a transformative impact on their business.

Mark Sands, Board’s general manager for Asia-Pacific, says the platform breaks away from traditional business intelligence (BI) and corporate performance management (CPM) solutions that only visualise what’s happened or happening, rather than looking forward.

“Board easily allows finance to incorporate the sales pipeline, including the leads they’re generating and how they’re tracking, and also allows users to simulate the impact of potential opportunities or customer threats,” Sands explains. “By modelling these different scenarios and unexpected pressures, businesses can react more quickly and effectively.”

Moving through the decision-making journey

The platform unifies data in one dashboard to drive revenue, streamline processes, increase customer engagement and help stakeholders and senior managers make informed decisions. However, it doesn’t just present information in a static, read-only view. Rather, it drills down into the decision- making journey and interacts with the data to help you understand the impact of certain changes or issues.

The combination of BI dashboard tools and comprehensive analytical capabilities makes it easy for business users to quickly build customised analytic, planning and simulation applications. These can be configured to support very specific scenarios, allowing users to create their own managed situations at a granular level, then share these with others in a collaborative environment.

With everybody working from the same set of data and information, businesses will no longer face the all-too-common scenario where five people walk into a meeting with five different versions of what should be the same set of numbers. Sands adds, “With Board, we can now spend our time really, truly collaborating around what matters, which is what’s happening in the business and how we can affect that.”

Adopting a future-focused approach

With over 3000 customers worldwide, Board counts Coco-Cola European Partners, Puma and Toyota Motor Corporation as just a few of the organisations already using the solution. Whether it’s supply chain or finance transformation, the benefits come from connecting the way these organisations work with relevant information.

“Right now, reporting and planning needs to be joined together in the decision-making journey. This isn’t a nice-to-have, this is a business imperative.” Sands continues, “As a cloud-based platform, Board is designed to be used wherever it’s needed; to be able to consume information and interact with the environment wherever you are, and wherever you need to be, has always been a part of what we do.”

This is important in our current environment, when many businesses are quickly transitioning to digital processes with huge amounts of data being captured and shared. With Board, they can adopt a more automated, reliable and future- focused approach that allows them to manage more effectively during this time and be better positioned to take advantage of potential opportunities.

Visit www.board.com to find out more about the latest in financial decision-making software and analytics, and how this technology can help your team operate more efficiently.


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June 2020
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