It was exciting to see one of our long-term clients, Carpet Court featured in the September issue of Business Franchise Magazine. We have worked closely with CFO Mark Hogan and the Head Office team to create a self-serve online Finance Portal for franchisees. The portal brings operational and financial data into one place, giving Carpet [...]
Effectively and securely managing data is one of the greatest challenges for any company. Multiple sources of truth, lack of integration between different sources and even data theft being some of the main issues. These problems can be quite common and even large, multinational companies are not immune from them. Over the years we were [...]
Consolidated financial reporting is a process that many businesses undertake in order to properly measure their assets, liabilities, income, expenses and other factors. Yet due to the complexity and / or lack of properly integrated systems issues can and often do arise. Here are five common problems associated with consolidated financial reporting, as well as [...]
If your business users come into contact with different applications or methods for financial reporting, you know how frustrating it can be to consolidate and standardise the data so that it can be used in a meaningful way. The process often involves manually collecting data or entering it into another program. Despite your best efforts [...]
Your Financial data Data holds the key to important business insights, but it can also be the biggest barrier to getting answers. Finance teams and professionals are facing an increase in the volume of data available and the number of systems used to access this data. Gathering, preparing and validating data to provide accurate and reliable [...]
The needs of a complex organisation with multiple business units, divisions and locations differ significantly from those of a small or medium enterprise (SME). A dynamic and expanding business has more complicated and nuanced business rules and reporting requirements. But most businesses start small, or single-faceted, and grow. Sometimes that growth comes rapidly. And what [...]
Whether it’s using the wrong tools or “solutions” that solve nothing, we’ve heard some horror stories of financial reporting systems getting out of control. Some themes crop up repeatedly. If the following four common mistakes sound familiar, it might be time to re-assess your company’s business intelligence (BI). 1. Relying on Excel… For everything We [...]
It’s the ubiquitous spreadsheet program, installed on billions of computers worldwide. Almost anything that can be performed with numbers can be done using it; and everyone in your business can open and interpret a spreadsheet. You have to question whether it is the best tool for the job, however, when a CFO is using the [...]
Every business has unique financial reporting requirements. For those organisations with larger and more complex requirements there’s a need to progress from basic spreadsheets to data-driven business intelligence (BI) systems and platforms. ITeM Group has been specialising in complex BI for financial reporting since 1999 – making us ideally placed to provide guidance on the [...]
A Chief Financial Officer (CFO) doesn’t need to know every technical detail of their Business Intelligence (BI) system. They just need to know their BI is: A worthy investment The right fit for the business Capable of empowering executives and employees to make better decisions Accurate, reliable and easily audited Adaptable to the changing needs [...]