News & Blog

Can one size fit all?

Nature of activity
% of effort)
Key challengesRemedial solution (Area of application)Suitable technology platforms
Extraction of data to aid accounting and reporting activities
(15-20%)
  • Disparate data sources
  • Repeated extraction of same data points by different user groups
  • Create Extraction utility
  • Manage and sync data refresh w/ reporting cycle via scheduler

(Internal and external reporting teams)

RPA

  • Blue prism
  • Automation Anywhere
Data assembly and validation

(20-25%)

  • Performed through EUCs
  • Fosters inefficiency, creates key man risk and creates room for control breaks
  • Create Reference tables to aid reconciliation and reporting needs
  • Develop common reporting and control processes across sites
  • Roll out citizen developer model to equip SMEs to develop solutions

(Any finance unit that is EUC reliant)

EUC remediation

  • Xceptor
  • UI path
Adjustments
(20-25%)
  • Performed to remediate data that is either late, inaccurate or inadequate
  • Fosters inefficiency, creates key man risk and creates room for control breaks
  • Fix at source where possible (subject to organizational matrix and decision rights)
  • Remediate through bespoke solutions (common reference tables, utilities, scheduled data ingestion etc.)
  • Remediate through policy changes (alter frequency, set materiality threshold, identify key sites etc.)
  • Leverage AI/ML to determine value of adjustment (ingest historic values of downstream data attributes to enable machine learning)

(Primarily accounting teams)

AI, ML and Open source computing

  • Remediating on Cloud/Open source platform
  • R, python based programming
  • DataRobot
System administration

(15-20%)

  • Difficulty responding real-time to ad-hoc requests
  • Same queries can be asked differently by different users inducing inconsistent response and resolution.
  • Frequent triangulation with multiple parties in order to provide resolutions
  • Create interactive knowledge portals
  • Use collaboration technology for internal co-ordinations (workflow solutions)
  • Standardize requests input interfaces and build upfront validations
  • Leverage Chatbot for query resolutions and automate request creation

(Finance System administration team)

Collaboration tools

  • Microsoft Teams
  • Appian
  • IBM Workflow

Chatbot

  • Microsoft
  • Flow XO
  • Pandorabots
  • Botsify
Commentary & Insight

(10-30%)

  • Inconsistent data coverage, while generating insights
  • Non – adherence to commentary writing standards, operator to operator variation
  • Duplication of effort to re-write commentary during aggregation cycle from site to region to group
  • Structure data inputs
  • Pair commentary automation with your BI tool of choice (like Qlik, Tableau and PowerBI. etc.)
  • Integrate commentary automation with chat interfaces for conversational insights

(Internal and External reporting teams)

Natural Language Generation

  • Arria
  • Narrative Science
  • Automated Insights
  • AX Semantics