Finance technology trends for resilience and growth
Evolving technologies help your finance department establish new paths to growth while building operational resilience and agility. Here are some of the trends making this transformation possible.
With so much change and uncertainty in the world, it pays to have something you can rely on. That ‘something’ is intelligent software powered by evolving technologies that enable you to future-proof your organization, unlock growth and build resilience.
Big challenges require big solutions
There’s already a growing number of challenges for service organizations to overcome, including increased competition, more pressure to optimize talent, and heightened client expectations.
With the COVID pandemic, every business is also being forced to rethink everything, from financial planning, analysis and forecasting to how their people work.
The growth in remote working, combined with the need to adapt to rapid change, has brought a raft of new challenges which are costing business dearly. (Or at least, it’s costing businesses that still use disjointed, on-premise solutions to consolidate, analyze, and share fragmented data from multiple sources.)
As well as reducing agility in a fast-moving climate, it’s further reducing employee engagement, retention, and productivity.
Technology never stops evolving
Luckily, while parts of the world have been intermittently grinding to a halt, technology has never stopped moving forward. Huge evolutions in the technologies that power finance applications and ERP systems are making life better for finance professionals, regardless of where they work.
From a wider business perspective, these advances help your organization improve operational efficiency and flexibility while supporting new pathways for growth and innovation.
The latest developments in these evolving technologies include advanced automation, machine learning (ML), artificial intelligence (AI) and faster Cloud migration with minimal disruption. And all these technologies are powering up enterprise applications to help people-centric organizations overcome many of today’s challenges.
Part of the solution is financial planning & analysis (FP&A) software, supported by an integrated suite of ERP solutions, which includes Financials.
Unit4 FP&A is a modern, future-proofed solution powered by ML and AI (to deliver, for example, AI-enhanced forecasting). It’s designed around intuitive, self-service tools, so it empowers FP&A teams. And a single source of truth means a single shared platform can be used for all your FP&A work, and by all your finance people, anywhere, anytime.
Our cloud FP&A software solution gives your people better, faster ways to put the numbers to work — through smarter performance management; planning, budgeting & forecasting; financial consolidation; reporting, visualization and analytics. It helps your people gain meaningful insights easier so they can turn your organization’s plans and ideas into action faster.
More “streamlined and effective” with Cloud
And, by migrating to Cloud, the benefits grow further. Mary Kent, Head of IT Programmes at Magnox, a Unit4 customer, says: “Moving to the cloud has made us even more streamlined and effective and has allowed us to take advantage of improving technology faster.”
Migrating all your data and software to the Cloud is a modern solution to the challenges presented by remote working: everything is available at any time from the same place, instantly, which improves team collaboration, productivity, and operational efficiency.
And Cloud migration has also moved on. With Unit4, you can migrate to Cloud in 20 days, there are no hidden costs, it’s scalable, and you cancel when you don’t need it.
To be more effective, any FP&A solution needs to be supported by a modern ERP system. Unit4 ERP, for example, is an integrated suite of highly adaptable and intuitive solutions built for people-centric organizations.
They automate low-value tasks so your finance staff can spend more time doing the high-value work. You can consolidate organization-wide data with one unified system, which helps you deliver visibility and control over every stage of the record-to-report cycle, while streamlining budget planning and analysis.
Growth and future-proofing
With the right vendor delivering modern solutions powered by the latest evolving technologies, you can regain control of your business planning and forecasting processes while improving operational agility and efficiency.
They also improve People Experience, engagement and retention for the people in your finance department. As a result these people have the power to establish new paths to growth while building operational resilience and agility into the fabric of your business.
Experience the future of finance technology at X4U
Experience how our products can empower the Finance department to help set your organization's people free to do more meaningful work. Join us this October 14-15 at X4U, our first global virtual event.
With over 40 sessions on every aspect of business technology from ERP to FP&A, HCM, and financials – covering everything from the role of AI in the future of your role to the power of integration and automation in creating a more streamlined and efficient organization.