Despite the fact that virtually all finance organizations rely heavily on IT, they are traditionally overly focused on surface layer capabilities. They want their systems to effectively execute specific planning, transaction and reporting processes. But the drive to maximize technology and better execute those processes isn’t always there.
As technology improvements continue at an accelerated pace, companies that don’t stick close to the technological edge will find themselves at a competitive disadvantage, unable to adapt to rapidly changing customer, market and regulatory demands.
To meet the competitive challenges of today’s global economy, finance organizations must leverage IT to improve their capabilities in three key areas: better financial data and reporting capabilities, an accelerated close, and faster access to strategically important information. Companies that continue to rely on incompatible systems, manual processes and disparate spreadsheets will not be able to keep up.
Deloitte’s finance systems specialists draw on a wide range of finance, IT, data and business analysis experience and offer a variety of services. From system requirements and selection, to implementation and sustainment, Deloitte can help you expand, integrate and fine-tune your finance systems to meet evolving needs and deliver shareholder value.
These capabilities allow us to integrate data capture, transaction processing and business analysis and to address the key finance process requirements.
Maximize IT value with the right system
Finance system selection
As companies look for systems that optimize IT capabilities while reducing costs, they should consider a number of variables.
New technology continually adds sophisticated options and functions. To ensure an appropriate return on investment these must be clearly understood and their value justified. Your evaluation team must review multiple features to determine their applicability and potential benefits.
Finance systems investments are very costly and are expected to last decades. Deloitte provides a strategic, vendor-agnostic process for selecting the finance systems that are right for you. We can help:
Finance system implementation
System implementations are challenging because they can create drawn-out project resource requirements that escalate costs and diminish expectations. Should a project fail to meet its intended outcome, the long-term costs can be formidable. With implementation and integration experience with leading applications we can help you adopt leading practice capabilities, including the process control automation, application integration and workflow-enabled process design.
We can also help:
Our approach to delivering financial system implementations uses Deloitte’s Enterprise value delivery (EVD) implementation methodology. This is an integrated, multi-disciplinary, approach that we use to provide consistent delivery across all of our financial system projects.
Realize operational and business benefits
Implementing the right finance systems can help your organization:
Successfully replacing or upgrading your finance system capabilities should certainly deliver bottom-line operational savings in the short term. More importantly, by improving access to quality financial data and enhancing controls, you position your finance organization to better deliver credible performance insight. Deloitte’s systems integration experience can make smooth adoption and transition to new capabilities a reality, helping you maximize your long-term investment in new finance systems.
Because strong alliances are key to the success of any professional services firm, we carefully select our alliance partners, teaming up with some of the world’s leading technology and service companies to meet your needs and deliver innovative solutions to your most complex challenges.
Our human capital consultants serve a wide variety of clients from Fortune 500 companies to the Canadian mid-size market, with experience covering all industries and sectors. They are part of a team with an unmatched range of business experience, from finance and accounting to strategy, operations and tax.
The technology playing field continues to evolve rapidly, and Deloitte’s technology consultants — business advisors with deep technology skills, help our clients plan, design, architect, build, test, deploy and operate their business solutions.