Construction is a vast and complex industry. As such, the simpler and more streamlined your processes are, the better. Complicated, manual tasks hamper construction professionals’ ability to conduct business by slowing down efficiency and productivity. Despite the obvious benefits of modern automated workflows, a survey conducted by McKinsey Global Institute found construction is the second slowest adopter of digitization.
From managing financial statements, signage, storage space, office space floors, and land, real estate financial professionals manage many of their businesses’ most critical moving parts. And real estate is growing–by 2026, the market is expected to reach $5388.87 billion by 2026 at a compound annual growth rate (CAGR) of 9.6%. When the time comes for month-end reporting, ERPs like Yardi manage and compartmentalize data with out of the box reports.
Deltek Vantagepoint is the newly branded, freshly reimagined next version of Deltek Vision built specifically for professional services organizations. Deltek has set a rough deadline for Vision customers to upgrade to Vantagepoint. While this date may be delayed based on rate of adoption, many Deltek users have either already upgraded or are starting to consider the impact of the change, and how to best approach it.
Dashboards showing ever-increasing levels of information are more and more in demand, but perhaps less and less understood. In particular, application teams selling products are pushed by their customers to include “high-level overviews” and “real-time information” in their software. But do they use that information? How often? And what for? Sometimes a dashboard is a critical piece of software enabling near-instantaneous responses to extinction-level business catastrophes.
Born and built in the cloud as an enterprise resource planning (ERP) solution, Oracle NetSuite enables organizations to create a unified view of their business. While it generates reports on enterprise performance, the platform wasn’t built to optimize the reporting process. For accounting and finance teams especially, the challenge makes it difficult to create flexible, customized financial reports.
Today’s business leaders face an uncertain economic landscape. In the aftermath of unprecedented business disruption in 2020, organizational decision-makers are turning their focus to new concerns. According to McKinsey research, supply chain disruption, inflation, and a growing labor shortage are now top concerns for the C-suite.
Doing more of the work you want, rather than must, is always the dream. And it’s just plain good business. However, many financial professionals feel that they get bogged down trying to find and connect data, rather than focusing on strategic insights.
Time is Money, they say. And when you waste time on onerous menial tasks instead of improvements, you aren’t spending your time, or money, wisely. When it comes to planning and analysis, the role of financial professionals is to provide insights that helps shape the direction of the entire organization. However, many financial professionals feel that they spend too much time trying to find and connect data, rather than focusing on strategic insights.
Ask any craftsman the secret to excellence, and you will likely hear that, in addition to skill, the craftsman needs the right tools for the project. The same can be said for finance teams as they work on operational reporting. The most skilled finance professionals still need the right tools to get the job done well.
