Digital Finance is lagging
People have been buzzing about becoming digital for ten years now. In Financial Services many billions have been spent in automating Front Office and customer facing systems. In the Finance function, it seems, firms are still struggling with the vast amounts of financial product data required to produce the financials as well as to provide daily insights on how to manage the business. Digital means automated and timely and actionable.
For those in the Finance function who grew up in the era of computer automation, there was an acceptance of spending hours and days each month correcting and manipulating data. This was the Gen X experience. For the next generations, there seems to be little willingness to spend their careers patching and passing on data.
A look at Financial Services controller’s reviews of their FS employers on Glassdoor echoes these sentiments.
Digital Finance is lagging
People have been buzzing about becoming digital for ten years now. In Financial Services many billions have been spent in automating Front Office and customer facing systems. In the Finance function, it seems, firms are still struggling with the vast amounts of financial product data required to produce the financials as well as to provide daily insights on how to manage the business. Digital means automated and timely and actionable.
For those in the Finance function who grew up in the era of computer automation, there was an acceptance of spending hours and days each month correcting and manipulating data. This was the Gen X experience. For the next generations, there seems to be little willingness to spend their careers patching and passing on data.
A look at Financial Services controller’s reviews of their FS employers on Glassdoor echoes these sentiments.
Digital Finance is lagging
People have been buzzing about becoming digital for ten years now. In Financial Services many billions have been spent in automating Front Office and customer facing systems. In the Finance function, it seems, firms are still struggling with the vast amounts of financial product data required to produce the financials as well as to provide daily insights on how to manage the business. Digital means automated and timely and actionable.
For those in the Finance function who grew up in the era of computer automation, there was an acceptance of spending hours and days each month correcting and manipulating data. This was the Gen X experience. For the next generations, there seems to be little willingness to spend their careers patching and passing on data.
A look at Financial Services controller’s reviews of their FS employers on Glassdoor echoes these sentiments.
But why do transformations deliver so little?
Finance transformations at financial institutions have a very low return on investment. This is because they involve large teams of people with diverse technology and business skills that often focus on the outputs (charts of accounts, BI and GL) without managing the real issue: non-standardized and black box data flows from the product systems to the finance world. Projects deliver solutions that are out of date before going live and are difficult to sustain as requirements change.
Until you deliver clean, standardized and accessible data to the Finance teams, this will never change.
Let Finray transform your Finance processes
Built by financial product controllers, financial data experts and CPA’s, Finray lets the Finance team own the end-to-end financial data management process without the need for coding. Fast data on-boarding and correction, business rules to enrich the data for management and regulatory reporting, sub-ledger, and easy to build reporting and dashboards. Your next generation controllers will get it.
But why do transformations deliver so little?
Finance transformations at financial institutions have a very low return on investment. This is because they involve large teams of people with diverse technology and business skills that often focus on the outputs (charts of accounts, BI and GL) without managing the real issue: non-standardized and black box data flows from the product systems to the finance world. Projects deliver solutions that are out of date before going live and are difficult to sustain as requirements change.
Until you deliver clean, standardized and accessible data to the Finance teams, this will never change.
Let Finray transform your Finance processes
Built by financial product controllers, financial data experts and CPA’s, Finray lets the Finance team own the end-to-end financial data management process without the need for coding. Fast data on-boarding and correction, business rules to enrich the data for management and regulatory reporting, sub-ledger, and easy to build reporting and dashboards. Your next generation controllers will get it.
But why do transformations deliver so little?
Finance transformations at financial institutions have a very low return on investment. This is because they involve large teams of people with diverse technology and business skills that often focus on the outputs (charts of accounts, BI and GL) without managing the real issue: non-standardized and black box data flows from the product systems to the finance world. Projects deliver solutions that are out of date before going live and are difficult to sustain as requirements change.
Until you deliver clean, standardized and accessible data to the Finance teams, this will never change.
Let Finray transform your Finance processes
Built by financial product controllers, financial data experts and CPA’s, Finray lets the Finance team own the end-to-end financial data management process without the need for coding. Fast data on-boarding and correction, business rules to enrich the data for management and regulatory reporting, sub-ledger, and easy to build reporting and dashboards. Your next generation controllers will get it.
About Finray
Finray is a young company founded by people with a combined 200 years of experience in financial services accounting and finance data management. Among the first Finray customers is a top US bank.
If you’d like to schedule a briefing, please leave your details in the form below and we’ll be in touch.
By proceeding you confirm that you are happy for us to store and use your contact details for the purposes of sending you alerts and information.
About Finray
Finray is a young company founded by people with a combined 200 years of experience in financial services accounting and finance data management. Among the first Finray customers is a top US bank.
If you’d like to schedule a briefing, please leave your details in the form below and we’ll be in touch.
By proceeding you confirm that you are happy for us to store and use your contact details for the purposes of sending you alerts and information.
About Finray
Finray is a young company founded by people with a combined 200 years of experience in financial services accounting and finance data management. Among the first Finray customers is a top US bank.
If you’d like to schedule a briefing, please leave your details in the form below and we’ll be in touch.
By proceeding you confirm that you are happy for us to store and use your contact details for the purposes of sending you alerts and information.