Become a World-Class Organization with Financial Signaling
OneStream Software is a leader in the enterprise market for finance and accounting cloud software. In a recently released blog, OneStream’s Whitney Gillespie describes financial signaling as the future of corporate finance:
To earn a coveted seat at the decision-makers’ table and be proactive within today’s more volatile environment, Finance must move beyond the static financial processes associated with enterprise performance management (EPM) software. How? By avoiding bad analytics and leveraging financial signaling to drive operational analytics, Finance can anticipate and react swiftly to disruptive markets and conditions.
Traditional finance relied on driving business performance based on historical data. In a not-too-distant past, having real-time data was considered cutting-edge. The ability to make decisions with real-time financial data has also joined the category of traditional. This is because real-time is now too slow. Organizations are quickly moving into reliance on predictive analysis.
Financial signaling moves FP&A to predictive. Here is a summary of this evolution:
- Compile historical data into financial reports as the basis to make business decisions impacting the future
- Using modern technology to receive real-time financial data as a way to improve decision making
- Financial signaling reflects the coupling of financial and operational signals that constantly feed predictive models to increase confidence on future outcomes
If you’re still relying on historical data and just now trying to move into real-time analysis, you may already be moving too slowly. World-class organizations are quickly shifting their decision-making models towards predictive analysis with financial signaling.
RVNA Technologies partners with OneStream and other leading FP&A Software platforms to help our clients solve challenges such as an inefficient intercompany elimination process.