Analytics in Action: Finance
With the rise of analytics, in many organizations Finance is expanding its role and providing increasing value in other functional areas. For many, Finance has become the enabler of analytics and decision support. The reasons are simple: Finance data is rapidly being deployed outside its traditional scope. Further, as the economy evolves, Finance is looking for ways to deliver greater value as a business function, as it often overlaps with analytics in other business areas. Finance also has an ability to apply analytics above and beyond traditional delivery channels.
Finance is leading the way in expanding analytics activities into areas that grow revenue and improve margins in their organization. In addition to core analytics activities like revenue management, tax analysis and investor relations, Finance has demonstrated the ability to bring cross functional information together to drive value for other business functions such as sales, marketing, procurement, and even IT. Moreover, Finance can bring previously unrealized value and growth potential to the organization through “Finance-owned” analytics activities such as model based forecasting, advanced fraud detection, and capital portfolio optimization.
Some organizations understand financial management. Others know analytics. At Deloitte, we’ve combined them in our Finance Analytics practice to help our clients in their efforts to manage their financial resources, continuously safeguard their reputations, and to preserve—and increase—shareholder value. We bring an industry-focused approach to our clients’ needs, and are able to tap the full experience of our organization to deliver the value from finance analytics that our clients expect.
Meet the leader
|Meet Nnamdi Lowrie
Principal, Deloitte Consulting LLP
CFOs are expected to provide valuable, hands-on partnering with their peers in the business, beyond their ability to provide standard financial reports year after year. Meanwhile, many finance organizations were built to deliver information rather than insight. That’s one reason so many CFOs are turning to business analytics.
|Corner office analytics
Business analytics used to be the domain of a few select teams buried deep in the business. Today, it lands on the agendas of most CXOs. In our Corner Office Analytics series, we’re focusing on the analytics needs of these senior leaders—and how they intersect with one another.
|The three-minute guide to finance analytics
By combining internal financial information and operational data with external information such as social media, demographics and big data, finance analytics may address critical business questions with unprecedented ease, speed, and accuracy.
|Enhancing deposit profitability
Advanced analytics can help deposit businesses better understand what drives their margins and customer satisfaction and develop an integrated strategy for improving profitability.
|How CFOs can own analytics
Leading analytics to support operational decision-making requires a high-level commitment to shift the organization from a historical perspective to a forward-looking perspective.
|Now is the time to take the charge of "The Last Mile of Finance"
CFOs should consider the “Last Mile of Finance” as a target for cost control, process optimization, and risk reduction that can enable finance to better support the strategic goals of the organization.
|Commercial real estate outlook: Top ten issues in 2013
The U.S. commercial real estate (CRE) recovery, although slow, has been visible in improved fundamentals, capital availability, asset pricing and transactions.
|The role of the CFO in an analytics-driven organization
Leading chief financial officers (CFOs) are investing in analytics to gain ground on and optimize spending.