All I want for Christmas… is efficiency, insight and predictability

How to spend more time with your loved ones during the year.

Finally, the holidays are coming, so we all have a moment to catch a breath after another year of hard work and your share of what life has to offer you. With the year near its end, this is also a moment for reflection. What happened this year? Did we spend enough time with our loved ones?

If you are working in finance and controlling, the chances are high that your loved ones missed you so much during the year that they will play Mariah Carey non-stop during Christmas. So often that it drives you crazy and you want to go to work again. But hold on! let’s make sure you don’t regret the amount of time you spend working.

How can you manage to spend more time with your family and friends? We suggest you focus on 3 overall goals: efficiency, insight and predictability.

1. Efficiency

We see people in finance having to work with disconnected systems and producing reports and plans manually, which is highly inefficient. The good news is that we live in the 21st century with endless possibilities to leverage modern EPM technology to solve these inefficiencies, as long as you do it right.

2. Insight

In many organisations, a huge number of reports are being produced, often with varying versions of the truth. This leads to more confusion than actionable insights. In our view, less is more; a solid foundation based on a few strong principles (like single-version-of-truth) supports reporting and planning models by providing real insights to enable the right decision-making.

3. Predictability

Last but not least, many organisations lack forward-looking capabilities. This causes pressure on the work-life balance of its (finance) employees, as unplanned requests come in for additional explanations and ad-hoc corrective action plans. Implementing well-designed solutions for planning, budgeting and forecasting is essential for increasing predictability. Rather than reacting in distress when events have already occurred, it will enable your organisation to anticipate events and respond in a timely manner.

We know that this is easier said than done. But accepting the status quo cannot be an option if that means we have to listen to Mariah Carey non-stop during the holidays because our loved ones have missed us so much during the year. If you don’t know where to begin, we are glad to share our experiences and help you get started with our Finance Modernisation workshop.

On behalf of inlumi, we wish you happy holidays and a great 2019!

DO YOU HAVE QUESTIONS? CONTACT THE AUTHOR:

Sander van Yperen
Functional practice lead at inlumi
sander.van.yperen@inlumi.com

Sander is passionate about helping organisations to develop a vision on Enterprise Performance Management, and translating this into tech-enabled solutions which really make difference. Over the last 12+ years, Sander has gained all-round experience in EPM, both as an implementor, project manager and advisor.