While corporate strategy helps determine the long range vision for a company, the business environment is constantly changing, leaving a questionable impact on optimizing efficiency and effectiveness in a firm’s current operations. To help finance sectors to cope with agility and performance ratio, many companies are coming up with financial planning and analysis software solutions, which provide key financial modeling capabilities to help companies meet their budgeting and ongoing forecasting needs.
The new software helps corporate agencies to model and evaluate different financial scenarios to set targets for their annual operating plan, in a bottoms-up or top-down manner, in order to analyze the variance between actual and projected results to manage end business performance. With the assistance of new technologies, the vendors create tools with which the businesses can easily access comprehensive financial reports and metrics that give a unique perspective into the operations. The software provides complete overview into an organization, with budgets that include costs, deadlines, deliverables, workflows, and summaries.
It is now time for finance to demonstrate how it can support business strategy, competitive analysis, overall enterprise performance planning and management, and drive revenue and profit growth.
In the last few months we have looked at hundreds of solution providers who primarily serve the finance industry, and shortlisted the ones that are at the forefront of tackling challenges faced by this industry.
In our selection we looked at the vendor’s capability to fulfill the needs of the finance sector through the supply of a variety of financial planning and analysis softwares that support core business processes, including innovation areas related to cloud, mobile, Saas, PaaS and ERP, Big Data and analytics, mobility,and social media in the specific context of the finance industry. We also evaluated the vendors support for bridging the gap between IT and Operations Technology.
We present to you CIOReview’s 10 Most Promising Financial Planning and Analysis Software Providers 2014.