Date post: | 05-Dec-2014 |
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The future of Analytics in Finance BA4All Insights Session September 16th, 2014 François De Witte – Guy Van der Sande
AGENDA
1. USG People & USG Professionals
2. Why BA is important
3. What should you take into account
4. Keys to success
5. The journey of data analysis
6. Key challenges - general
7. Challenges for a CFO: case studies
8. Conclusions
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1. USG People Group
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2.3 billion Eur
Main countries of operation:
Benelux, France, Germany
>40 years of experience
N°2 in the Netherlands and Belgium
90.000 flex workers
at work every day
MEMBERS
Quoted on Euronext Amsterdam
USG Professionals
A strong foundation with years of experience
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We offer multiple solutions
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Project sourcing & interim management ICT-consultancy
In- & Outsourcing Search & selection
2. Why BA is important The pressures on organisations are at a point where analytics has
evolved from a business initiative to a BUSINESS IMPERATIVE.
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Why BA is important
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Source: ”The intelligent Finance Organisation” survey of KPMG Bermuda 2014
Why BA is important
Financial activities covered: survey of 140 finance executives
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Source Aberdeen group Survey: “Speeding up and cashing with financial analytics” – June 2014
Why BA is important
[Big] Data, [Big] Money ?
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• Customer behavior
• Growth and innovation
• Future customer lifetime values
• Efficiency of execution
• Meet compliance and regulations
3. What should you take into account
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Consistent
Comparable – reusable
Connected
Single version of the truth
4. Keys to success
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Keys to success From descriptive to prescriptive
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5. The journey of data analysis
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The journey of data analysis
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Training
Regulation
Management Partner
Search &
Selection
BICC
OR
GA
NIS
AT
ION
C
ON
TE
NT
Business
requirements
Techn. setup
Governance
Data source
analysis
Data source
integration
Development
Review
Training
Regulation
Management Partner
Search &
Selection
BICC
OR
GA
NIS
AT
ION
C
ON
TE
NT
Business
requirements
Techn. setup
Governance
Data source
analysis
Data source
integration
Development
Review
6. Key challenges - general
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• Manual processes
• Ignoring data integration fundamentals
• Bringing the information on time
• Unrealistic expectations
• Risk of strategy fragmentation - Silos
• Reconciliation of various systems - different ERPs etc.
• Implement predictive analytics
• How to deal with Big Data?
• Data security - ownership
• Choice between doing it yourself or outsource?
7. Challenges for a CFO: case studies
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• What does the CFO need?
Accurate, relevant and forehanded information,
enabling the CFO to develop his new role:
• be proactive in order to anticipate
• think with the business and challenge the business
• be a true business partner
• Challenges:
• VVV: Variety, volume, velocity (Gartner)
• Unstructured data
• Manual data
• Accuracy of the information
• Have the right information at the right time
Challenges for a CFO - case studies
Cash forecasting
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• Cash forecasting:
Aim to report a company’s future cash availability resulting
from its operating, investment and financing activities
• BI Challenges:
• variety internal and external sources with different
formats
• common interface for data crunching, trend analysis
• integrate historical A/P and A/R data, external sources
and Big Data
• user-friendly dashboards
• Facilitator: use of data providers (internal or external)
Challenges for a CFO - case studies Example: Cash forecasting
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Source: Discover Edge
Challenges for a CFO - case studies Example: Cash forecasting
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Source: Discover Edge
Challenges for a CFO - case studies
DSO and Credit collection
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• DSO monitoring is a crucial factor to optimise working capital
• Different sources: Accounts receivable, credit management,
external sources (Graydon, Van Dijk,
B-information, etc.), credit insurance payment behavior
• Big Data helps to evaluate Credit Risk
• Dashboard is crucial
Challenges for a CFO - case studies Example: DSO and Credit Collection
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Source: Discover Edge
Challenges for a CFO - case studies Example: DSO and Credit Collection
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Source: Discover Edge
Challenges for a CFO - case studies
Bank relationship management
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• Aim CFO: balanced relationship with relationship banks
→ fair allocation of the business wallet
• Challenges:
• Tracking the business allotted to each bank
• Modelling why and when a bank won business,
and why and when not
• Automation data collection
• User friendly format
• How:
• Data mining and analysis
• Focus on discrepancies / variances & explanation
8. Conclusions
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• BA is essential to finance: finance needs BA !!
• Strategic CFO’s care about data integration
• The CFO becomes a potential CIO-ally
• The “single version of truth” and “data governance” are real
challenges
• Efficient BI, processes and technology are facilitators,
but do not replace the job of finance
The new role of finance is to become
« THE BUSINESS PARTNER » with a
strategic view based on analytics
Contact details
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François De Witte
Head of the Competence Center Treasury and Finance USG Finance
professionals
Britselei 80 - 2000 Antwerpen
M +32 (0) 475 56 84 36
Twitter @F_DeWitte
Guy van der Sande
Head of the Business Intelligence Competence Center USG ICT Professionals
Britselei 80, 2000 Antwerpen
T +32 (0)3 213 72 57
M +32 (0)476 50 16 26
Twitter @BICC_at_USG