Big data is causing a massive evolution in finance. Here's what you need to know to keep up. Read the full post here: http://thekinigroup.com/blog/7-takeaways-from-the-2015-fpa-innovation-summit/

1. 7 Innovations in Finance You
Need to Know Now
insights from

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1. Data Has Pushed
Finance to the Next Level

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Data management and analytics
has bled over from IT to finance,
causing roles to evolve.

4. 4
To keep up, finance professionals
must find and use insights hidden
within their sales transaction data to
promote margin growth.

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2. Speed and Efficiency Are
the New Resume-Builders

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Leverage your company’s data quickly
while maintaining high-quality results.
Focus on automation and streamlined
reporting for the fastest, most accurate
results and insights.

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Real-time progress is
no longer the bar.
It’s the norm.

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3. Data Points Fingers

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Your accountability is
now in the limelight.
This can seem scary, but
consider it an inspiration.
Use your data to build profitable
long-term strategies.

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4. The Simpler, the Better
for Intuitive Reporting

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Reports these days are confusing.
They require a lot of context.
That defeats the point
of good reporting!

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CFOs want one-touch reporting
to help them make decisions
quickly and effectively.
Make answers and insights
obvious on reports.
Eliminate the need
for deciphering.

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5. Be Nimble, Be Quick

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Enterprise-level BI is critical
for companies these days.
But it’s expensive.
And takes forever to deploy.
And is hardware-dependent.

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It’s time to take your BI
software to the next level.
Consider a cloud-based
SaaS solution instead.
You can still get enterprise-level
analytics but on any device, anytime.

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6. Play the Worst-Case
Scenario Game

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The rise of analytics means the
rise of plug-and-play strategy.
Use scenario analysis as a form of
predictive analysis to predict which will
work and which won’t.

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7. Analytics, Anytime

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Finance professionals are expected to
know which initiatives are creating
profits and which are generating loss
at any given time.
Do you have those insights on hand?

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Maintain focus on constant,
incremental advancement with
subtle strategy tweaks to achieve
sustainable margin increases.
That’s the key to
Success in finance now.

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