Data-driven Finance
Enabling CFO’s to view and act on Enterprise’s financial data in real time
Data-driven Finance

Finance is running the risk of sitting on the sidelines while savvy lines of business deliver the insights that the C-level needs to differentiate and grow. The fast pace of business demands has placed the onus upon CFOs to become trusted financial advisors to their CEO, to answer urgent queries related to risks and potential rewards a new market opportunity or business strategy entails. Upstart players are harnessing information to change the rules, in some cases re-inventing markets that traditional players were entrenched in. CEOs stay awake at night wondering when and by whom they will be disrupted and spend their days trying to redefine and transform their businesses for the digital era.

Today’s CFO needs visibility into all the enterprise’s financial data, not just a quarterly roll-up, and in real time, making it available to the leadership for business decisions that would make or break an enterprise. Success in the digital era demands that all business decisions at all levels be made based on advanced analysis of all relevant data – both internal and external.

Data-driven finance enables CFO’s to expand their capabilities with CEO’s and other business leaders. But this requires a strong data driven culture which consists:
  • Real-time, interactive analytics rather than monthly and quarterly batch reports
  • Fast response times to both opportunities and threats
  • A unified view of corporate financial position with drill-down to detailed operations
  • Active engagement with sales & marketing to drive growth
  • Stronger predictive and early-warning capabilities
  • Higher rates of automation and use of advanced technology

Solix Data Driven Finance is a solution to empower CFO’s to extend their capabilities by proving a single source of information and business intelligence which is otherwise too complex. With the power of big data for finance, our tool unifies “Order to Cash” data digitize and automate C2C to the core. This provides a uniform view of description, predictive and prescriptive analytics. By unifying all data sources to a common data lake for finance we enable CFO’s to have a clear vision on Cost, Control, Compliances and Cash flow.

Solix Big Data Suite for Finance will help the CFO and Enterprise Finance to:
  • Unify data from all data sources, we literally mean all.
  • Allow the CFO to improve cash flow and forecasting, reduce days’ sales outstanding (DSO), improve transaction efficiency, and support better management of credit risk, losses from bad debt, and collections expense.
  • Dedicate resources for stronger predictive and early-warning capabilities
  • Provide support at every stage of decisions

The tremendous opportunity for a data-driven strategy is apparent to enterprise finance, but all these informational assets exhibiting volume, variety, and velocity need to be ingested and analyzed for enhanced insight leading to better business decisions for enterprise long term growth and success. Data-driven technology solution such as the Solix Common Data Platform (CDP) provides a next generation data management platform that not only meets the analytic demands of the data-driven organization but also addresses the cost, compliance, and governance challenges that come along. The Solix Common Data Platform combines human and computer analysis based on huge volumes of data to produce optimal decisions at every level of the enterprise finance for business success via the Solix Big Data engine. Enterprise finance can take complete advantage of the data-driven finance revolution by adopting such a technology foundation significantly enhancing the ability of business to proactively anticipate business needs and position themselves for success. Those who do not are doomed to failure as those who do consistently make better business decisions.

The Solix Big Data Suite includes:

Investment banking is increasing its reliance on analytics to better advise clients with their fund raise, acquisitions & mergers and asset-allocation. Banks are looking to gain valuable insights from vast streams of real-time data such as research reports, market trends, product information and client profile to come up with well informed real-time recommendations. This needs a modern data platform that can capture and process large volumes of internal and external data in real-time. To be able to help investment banks achieve this and more with their data, Solix Common Data Platform (CDP) provides a comprehensive modern data management and analytics platform. Along with meeting the real-time needs of data driven investment banks Solix CDP also helps with reducing infrastructure costs associated with data growth while addressing data governance and complex regulatory requirements.

  • Solix Enterprise Archiving archives and/or retires enterprise applications to improve production application performance and reduce infrastructure costs. Enterprise application data running online is first moved, and then purged from its source location according to ILM policies to ensure governance, risk and compliance objectives are met.
  • Solix Enterprise Data Lake provides a copy of production data and stores it “as is” in bulk to be better described and distilled later. This simple COPY process eliminates the need for heavy extract transform load (ETL) processing during ingestion. Once resident within the Hadoop file system (HDFS), enterprise data may be better described or transformed later for use with business analytics applications such as those available from the Solix App Store.

On-Demand Webinar

Improving Cash Flow with Solix Big Data Suite and Emagia Analytics

 

 

On-Demand Webinar

Learn How MasterCard Tamed the Data Growth Beast