EBS Migration Digest

Whether you’re looking to take advantage of new functionality, support compliance requirements or improve performance and reliability, the decision to migrate or upgrade to Oracle EBS on-premises or on Oracle Cloud isn’t one you’ll take lightly. The results can be rewarding, though the process daunting. To help you prepare for such a project, Magnitude gathered some lessons learned from those in the industry who already travelled this path. Read more

blockchain for the enterprise_WP

Developments to watch: Blockchain for the enterprise

While blockchain is renowned as the underlying foundation for the crypto-currency Bitcoin, interest is bubbling up for blockchain across industries as entrepreneurs experiment with new use cases. Beyond financial services, healthcare IT sees promise, as does the Office of Finance for its record keeping and auditing needs. Beyond the benefits of blockchain is a reality to be faced by organizations: it’s another technology to manage in already fragmented enterprise environments. Read more

Third party integration SAP central finance

Third Party Integration for SAP Central Finance

The allure of SAP Central Finance for Finance organizations to completely reimagine business processes for the digital age is compelling. SAP rightly claims some significant benefits from Central Finance and the impact of pulling together all financial information as a single source of truth is strategic and powerful.

In moving forward with your Central Finance implementation, you will quickly discover that SAP does not provide source system connectors for non-SAP data so the question of how to integrate ‘external’ source data quickly becomes a hot topic. Any company considering Central Finance has certainly done many system integration projects before, and at first glance it may seem natural to tackle this project as a typical in-house (or system integrator-led) custom development effort, but with a little consideration, you will see that is it not so simple, and that in fact, custom development is fraught with risk. Read more

The Strategic CFO Is a Reality

The data-driven business world demands near-real-time insights and action. In an earlier post, I discussed how the role of the CFO is expanding to encompass “data arbiter.” Today, some CFOs are not only responsible for managing and forecasting based on financial data, but on operational data as well. These CFOs are critical support, a veritable lighthouse of data and strategic insights for CEOs, COOs, CROs and Boards of Directors. Read more

Strengthening the C-Suite by Transforming the CFO Role

A CRO’s Perspective

The Office of the CFO is undergoing transformation, with data as the catalyst. A recent survey by Intacct indicates CFOs now spend less than 30% of their time closing the books. They’re spending more time getting their arms around company data … beyond financials. This includes CRM, ERP, R&D and other critical data, which are essential to managing corporate performance. Read more

CTO perspective: Is your business equipped for the API economy?

As a CTO, I find it it fascinating to watch the explosive growth of the API economy. APIs have become the fuel that’s enabling companies to create and launch new business models at unprecedented speeds. According to programmableweb.com, there are more than 16,000 APIs. HBR cites that Salesforce.com generates 50% of its revenue through APIs, Expedia.com generates 90%, and eBay, 60%. Read more

Excel4Apps Honors Magnitude with Top Partner Award

Operational reporting for Oracle EBS doesn’t have to be all-consuming. In fact, it can be rather straightforward – even to retrieve real-time data in Excel, still one of the most popular tools for those looking to visualize key operational data and metrics. The Excel4Apps/Magnitude partnership is all about making that happen effectively, efficiently and in a self-serve manner. With that in mind, and on behalf of the entire Magnitude team, I thank Excel4Apps for recognizing us again this year as a top partner. Receiving a Top Partner Award for a second straight year attests to how well-received our combined product offering is in the marketplace Read more

Metadata and machine learning in data governance

Developments to watch: Metadata and machine learning in data governance

A theme that emerged from this year’s Gartner Data & Analytics Summit is that the future of data governance is evolving from a centralized compliance-focused strategy to one where decision-making is being democratized across the organization. According to Gartner, by 2020, 50 percent of information governance initiatives will be enacted with policies based on metadata alone.

So how does metadata apply to the democratization of decision-making? Consider the potential of machine learning for improving data governance processes. Read more

The Future of AI & the Office of Finance

The Future of AI & the Office of Finance: How can the bar be raised with forward-looking indicators?

A new study released by Tata Consultancy finds that a majority of companies see artificial intelligence (AI) as “essential” to competitiveness with widespread adoption expected across job functions by 2020 in areas such as finance.

With finance leaders serving as the data stewards at many companies, we see a transformation of the Office of Finance. The promise of AI, cloud adoption, new technologies and the trend towards self-service has also influenced the evolution of the CFO role. They are becoming more of a strategic leader. CFOs now spend more time optimizing the business and less time on finance administration. A recent McKinsey study cites that four in 10 CFOs say they spent the majority of their time in the past year on activities other than traditional and specialty finance. Read more

Transitioning to the Cloud

Transitioning to the Cloud: How to minimize disruption to data access for real-time reporting

At this year’s Gartner Data and Analytics Summit, one of the big takeaways is that the world of data and analytics will have an even bigger impact on our society over the next 20 years than the Internet has had in the last 20. According to Gartner analysts, analytics is shifting from being ‘in the business’ to being ‘the business’ itself. They envision a future of analytics abundance in which data insights are applied to every process and decision across every field.
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