SAN RAMON, CA, July 18, 2013 - Ventana Research has launched its newest benchmark research, Next-Generation Finance Analytics. Software designed to support the finance function has reached an important inflexion point that will transform how organizations use analytics. The research will examine the ways in which companies use new analytic technology to improve financial performance, risk mitigation, governance and compliance and improve overall business performance.
Ventana Research's previous research shows finance usually trails behind other business segments in adopting new methods and technology. Because long-standing analytic techniques are so well established, finance professionals have had little incentive to broaden their palette even as the opportunities available to them have proliferated. As a result, many Finance organizations fail to take a more strategic role in leadership functions.
Software vendors have started to introduce new, more advanced analytic applications that give finance professionals the ability to use more advanced analytics without having to be a trained statistician. These next-generation of finance analytics capabilities will make it possible to gain deeper insight and greater visibility by utilizing advanced techniques as well as by using larger data sets and a broader array of data. Implementing such initiative holds great promise but requires an in-depth understanding of options, functional requirements and best practices. Few finance organizations have done the evaluations necessary for selecting the right analytic methods and tools and using them properly.
This benchmark research will examine current adoption of next generation finance analytics and the processes, people and information used to support them. It will investigate the opportunities and issues that accompany have with these new capabilities and the impact they have on the overall financial performance. The research will also determine what steps companies can take to formulate a successful internal business case for adoption of these applications.
"Important business decisions almost always require people to make trade-offs, such as maximizing margins versus boosting volume. Identifying the impact of these trade-offs and providing guidance so individuals in all business units can align their actions with the company's overall objectives is what analytics do," said Robert Kugel, SVP and Research Director at Ventana Research. " By using well established analytic techniques such as customer profitability, price and profitability optimization, risk mitigation and economic costing methods requires an in-depth understanding of the options available and the information technology requirements for each of these options. This research will provide a fact-based assessment of this critical business topic."
Those interested in learning more about or participating in this benchmark research can do so at http://www.ventanaresearch.com/NextGenFinanceAnalytics. Ventana Research, a leading business technology research and advisory services firm, provides qualified research participants with an incentive, complimentary report and presentation of the research findings as well as access to a free educational webinar on key findings from the benchmark research.
About Ventana Research
Ventana Research is the most authoritative and respected benchmark business technology research and advisory services firm. We provide insight and expert guidance on mainstream and disruptive technologies through a unique set of research-based offerings including benchmark research and technology evaluation assessments, education workshops and our research and advisory services, Ventana On-Demand. Our unparalleled understanding of the role of technology in optimizing business processes and performance and our best practices guidance are rooted in our rigorous research-based benchmarking of people, processes, information and technology across business and IT functions in every industry. This benchmark research plus our market coverage and in-depth knowledge of hundreds of technology providers means we can deliver education and expertise to our clients to increase the value they derive from technology investments while reducing time, cost and risk.
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To learn how Ventana Research advances the maturity of organizations' use of information and technology through benchmark research, education and advisory services, visit www.ventanaresearch.com.
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