Inefficient Data Management
Analysts Spend Most of their Time Gathering Data Instead of Creating Intelligence
This largely manual effort is inefficient and leads to inaccurate reports, and lack of compliance with audit standards and Sarbanes-Oxley.
Importantly, if analysts spend most of their time on administrative tasks, they will spend little time on value-adding analysis. The result: failure to find and resolve profit enhancing opportunities.
Data Hub and Reporting
Build a solid foundation for financial reporting and analysis employing enterprise-class data preparation tools to facilitate regulatory compliance and good data governance practices.
The challenge for many Finance departments is to resolve process issues and acquire tools to allow them to take on these new responsibilities. Recent studies show that the lack of defined process and tools means up to 80% of financial analysts’ time is spent on data work and reporting, with little time left for analysis. Compounding this inefficient manual effort is a lack of compliance with Sarbanes-Oxley and audit standards.
Our solution for Finance enables clients to design and implement a compliant data and reporting solution. The solution comes with a fully functional data integration development environment.
CT Global uses SAS to access multiple and different source systems, and automates the data access, transformation, and load processes. The solution includes a financial modeling environment that extends the functionality of the general ledger and allows access by business users to financial information. Accessing the data in a data hub, the SAS financial modeling tool is used for currency translation, inter-company eliminations, allocations, and consolidation of financial information.
The financial modeling tool is used to build models for visualization by business users. Business users can view dynamic financial reports where they can self-discover information at different levels and time periods within the model.