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Are You Prepared for the Era of Self Running Finance?
Are You Prepared for the Era of Self Running Finance?
Forbes Cover Page In 2007!
Traditional Finance & Accounting
Controlling & Auditing
Inward Focused
Specialized Heavy Applications
Modern Day Financials
Enabling
Collaborative
Management by Exception
Evolving from traditionally being a back office to a front office function
Technology Innovations in Finance Industry have broken big barriers …
Fin Tech has re-defined the Banking experience
Block Chain poses a threat to the very existence of banks…
If Self Driving Cars are a reality …
How close are we to Self Running Finance.. Next Gen Financials ..
The Ingredients of Next Gen Financials
Self Running Financials
Hyper Automation: STP & RPA
Power of the Connected Eco System
Efficient & Contextual Information Delivery
Deepen Integration & Domain Alignment
Advanced Analytics & Insights: AI & ML Driven
Hyper Automation : Straight Through Processing
Automated Invoicing & Self Billing
Straight thro’ Billing of Customers based on Contracts
Auto Settlement & Reconciliation with Payment Receipt
Automation in Fixed Asset Creation, Exchange & Transfers
Automated & Scheduled Reporting
Current State
Routine Procurement
Create Purchase Request
Approve Purchase Request
Identify sources of supply and seek quotations
Create comparative statement
Submit for approval
Automated
Hyper Automation : Robotic Process Automation
Reduce Error rates & Improve margins
Automate key process & improve TAT
Opening up for seamless connections with systems across the value chain
Power of the Connected Eco System
Financials
Powered by loosely coupled Rest APIs -
Expense & Travel
Payment Solutions
OCR Solutions
Budgeting & Forecasting
Shipping Providers
Invoicing Platforms
Parts & Store Fronts,
Catalogues
Power of the Connected Eco System : With Blockchain
Smart Contracts in code as binding contracts between individuals, and guarantee their enforcement without the need of a third party
Manage Trusted Data Share (Single Source Of Truth) Between Non Trusting Stakeholders
Inter Ledger Protocol to build network of networks – which could be banks, currencies, blockchains
Consolidation of Part Visibility across multiple sources like B2B
Marketplaces, Suppliers, OEM’s , Other Customers with Shared API
With Ramco
Stock Inquiries and tracking powered by Next gen Features like BOTS, Mails, Mobility , In-Place data , Portals etc
Contract Driven Automation till Invoicing through
Planning ,Procurement , shipment & Warehousing
Real Time Tracking of Orders Track diff types of cost involved from the Order to cash cycle
Includes Inventory Technical Management, Inventory forecasting & Optimization, Asset Management & Many More
Suppliers OEM’s Customers Shippers Payment Gateways
Multi Channel Demand Funnelling Source Aggregator
Automated Order to cash Cycle
Full Cost Discovery
Advanced Inventory Models
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Connecting
Hyper Connected Eco System - Part Trading Scenario
Genie at Work
System that not just shares information but also suggests action to be taken. Example, raising a PO is a standard process. What if the systems prompts to which supplier it must be raised to, based on the supplier’s past delivery timelines, quality etc.
Efficient & Contextual Info Delivery
Hubs for power users covering all Major functions Get everything you need to do on a single screen
Efficient & Contextual Info Delivery
Efficient & Contextual Info Delivery
Mail it for the Light user..
Summary Review
Specialized reviews as a summary of various aspects Cost
Payment status Work order progress
History & Timeline
Review history information Eg Compliance History Payment
History Workflow Trails
Decision Support
Specialized pop-ups to augment decision
making process
Document Relationship
Related documents and critical information PR-PO-GR-
Inspection-Invoice-Payment
Actions Rationalization
Pop-ups to get around the link crowd by contextually
positioning applicable links
Document Info
Pop-ups for a document or an
instance of an event such as customer order
Entity Pop-ups
Pop-ups for Entities like Customer Record, Supplier Record Customer credit record
An asset record
Smart Preview Capabilities
Efficient & Contextual Info Delivery
Information on Tap | Information capture at source
Predict outcomes with forecasting &manage strategic risk
Better understand the financial impact of key
decisions
Advanced Analytics & Insights
• Pass & approve expenses on your behalf based on policies
• Suggest the best course of action based on historic & market data
• Be better prepared for the impact of regulatory changes
• Exception based management
Harnessing the Power of AI & Machine Learning Advanced Analytics & Insights
Enterprise Cardio Gram ..Revealing the blockages
Advanced Analytics & Insights
Bottlenecks across the value chain…
Invoicing
PR
PO
Goods Rect
Requests
Returns
Advanced Analytics & Insights
Start closing your month well ahead of time
Hello James, This is your month end personal assistant. I am ready with an update on the closure of July ‘17 closure !
Sure, thanks and please be @ it!
Great go ahead !.
We did well and managed to close the books. The reports have been emailed to all departments
31st July 2017 ….12.00 am
20th July 2017 ….10.00 am
Finance User Month close assistant
We are doing well AP is largely in control . AR has delays, ‘am following up Tim to expedite billing on Project AD089
Advanced Analytics & Insights
I
The DNA of the CFO: Study by EY
Source:EY
Technology presents a huge opportunity for financial transformation of business organizations
Are You Prepared for the Era of Self Running Finance?
Thank you
Copyright 2017, Ramco Systems Limited. Information subject to change. All rights acknowledged. The contents and information contained in this brochure are intended for general marketing purposes only and should not be relied upon by any person as being complete or accurate. Ramco Systems Limited, its group, employees, agents and other representatives will not accept any liability suffered or incurred by any person arising out of or in connection with any reliance on the content of or information contained in this brochure. This limitation applies to all loss or damage of any kind, including but not limited to, compensatory, direct, indirect or consequential damage, loss of income or profit, loss of or damage to property and claims by third party.
