WEBVTT X-TIMESTAMP-MAP=LOCAL:00:00:00.000,MPEGTS:0 1 00:02.490 --> 00:03.090 Shankar, Shalini: Hello. 2 00:06.930 --> 00:14.580 Shankar, Shalini: hello, my name is Shalini Shankar and i've worked with leaders of finance organizations to modernize the digital finance process and technology. 3 00:15.570 --> 00:26.130 Shankar, Shalini: Finance close process modernization has been high on the agenda for finance leaders, the recent survey conducted by Deloitte among CFOs across various industries, we found. 4 00:26.670 --> 00:38.250 Shankar, Shalini: 45% of the global CFOs do not have a single repository of finance data, often resulting in long, complex close cycles to gain visibility into financial performance once a month. 5 00:38.880 --> 00:50.220 Shankar, Shalini: Most said they would want to implement technology to automate the close process to drive towards a continuous close where financial performance can be measured on a daily basis and not just at month end. 6 00:50.820 --> 00:57.750 Shankar, Shalini: Finance organization's want to modernize how they perform manage and measure success with a close process. 7 00:58.950 --> 01:04.740 Shankar, Shalini: This aligns with what is available in the market cloud technology for finance has matured. 8 01:05.310 --> 01:16.050 Shankar, Shalini: When fueled by disruptive technologies like robotics and cognitive and analytical solutions, companies can drive standardization and control with active flows orchestration and monitoring. 9 01:16.500 --> 01:27.450 Shankar, Shalini: improve the team's efficiency by automating repeatable tasks such as reconciliation with robotics and cognitive solutions that business insights and decisions with near real time financial analytics. 10 01:28.290 --> 01:35.460 Shankar, Shalini: i'd like to tell you more about the next gen finance technologies Oracle cloud, and what is possible for any organization. 11 01:36.810 --> 01:47.790 Shankar, Shalini: Improving the close process starts with managing the close like a repeatable project plan where all the close activities are managed by designated owners durations and dependencies. 12 01:48.360 --> 01:56.940 Shankar, Shalini: By capturing the close activities in a close monitored solution, you can virtually monitor close activities and outcomes with persona driven dashboards. 13 01:57.480 --> 02:11.700 Shankar, Shalini: This empowers the team with information on the progress against key milestone and measure the actual performance against them at the same time, capturing an audit trail, this also allows you to identify opportunities to improve the close cycle times. 14 02:13.920 --> 02:19.950 Shankar, Shalini: Based on our experience with clients we typically see an opportunity to automate up to 50% of close tasks. 15 02:20.550 --> 02:30.720 Shankar, Shalini: Which emergence of robotic process automation software finance organizations can increasingly rely on digital workforce to execute business processes during the close. 16 02:31.500 --> 02:43.770 Shankar, Shalini: unlocking the finance teams time to focus on process improvement exception handling and analysis this enables leaders to develop informed business insights and better support decision making. 17 02:44.730 --> 02:50.550 Shankar, Shalini: As in any team the collaboration between the digital and human workforce of the finance team is imperative. 18 02:51.810 --> 03:05.220 Shankar, Shalini: The advanced chat and voice enabled cognitive solutions, play a key role working as digital assistants that serve real time information to the team, including financial and close key performance indicators. 19 03:06.330 --> 03:13.770 Shankar, Shalini: By optimizing the closing process finance leaders can deliver finance insights faster and more frequently. 20 03:14.460 --> 03:24.750 Shankar, Shalini: business managers can have management profit and loss and other key performance indicators readily available in consumable format, the drill down capabilities. 21 03:25.200 --> 03:35.760 Shankar, Shalini: anytime anywhere on their mobile devices for the more advanced analytics will allow for data driven scenario planning and forecasting to navigate the future. 22 03:36.720 --> 03:53.640 Shankar, Shalini: by deploying these solutions you can achieve the following benefits for your organization improve effectiveness and reduce costs, enhance efficiency of resources increase standardization of data and processes and improve analytics (repeated word:analytics) for better insights. 23 03:55.140 --> 04:07.050 Shankar, Shalini: To help finance organization apply these benefits Deloitte combined the experience of our leaders across technology and finance advisory organizations to develop the justice close IP. 24 04:07.440 --> 04:13.860 Shankar, Shalini: A solution enabled by Oracle cloud technology and boosted by advanced robotics and cognitive tools. 25 04:14.520 --> 04:24.240 Shankar, Shalini: Based on your situation this solution can be delivered as a single big bang or in multiple phases to align to your unique transformation roadmap and timeline. 26 04:25.050 --> 04:35.760 Shankar, Shalini: We at Deloitte invite you to imagine the possibility of reduced inefficiencies and pronounced advantage of touchless close as part of your digital finance transformation journey.