Depending on who you ask, biases can implicate any one department as the “brain” of the organization. This is the department that provides all other facets of the business the necessary information in order for them to function properly and successfully. In the human anatomy, our senses collect data about the world around us and send the data back to the brain for information processing. The key point here is understanding the brain has two general functions;
- Store the data collected
- Process information
Let’s relate the human sensory system to your organization’s sensory system.
- Sight is brought to you by Accounting as they record transactions that actually occurred.
- Hearing is brought to you by Marketing, as it collects customer feedback, praises, and concerns.
- Touch is used by R&D/Manufacturing by formulating the physical reality of your product.
- Smell is used by Quality Assurance, ensuring the product has not spoiled.
- Taste is finally enjoyed once the fruit of the organizational labour is harvested by Sales.
We’ve yet to discuss the brain of the organization. It is important to note that many organizations are lacking the proper tools, leaving the left side of the brain working independently of the right side of the brain. This creates a delay or disconnect in the brain’s attempt to gather the required data from one side and process it into useful information on the other.
If you haven’t already guessed it by now, IT and Finance both make up the brain of the organization. However, in many organizations, IT and Finance are not equipped with the proper tools to streamline communication between the two departments. Firstly, IT is the department which houses and manages all data about the organization’s operations. Secondly, finance requires access to that data to structure it into useful information which can then be distributed to other facets of the organization. With the proper tools in place, the organization now has the ability to make well-informed decisions about revenue targets, staffing, capital investment, projects, etc.
BDO Solutions’ Business Analytics practice specializes in implementing tools that streamline processes between IT and Finance, and all other facets of the organization. These tools are known as Corporate Performance Management (CPM) solutions. CPM solutions are designed with the business user in mind, so there is little IT involvement in managing CPM Solutions. Depending on your organization’s strategy, BDO Solutions offers both cloud and on-premise solutions.
Adaptive Insights (Cloud Solution)
The Adaptive Suite takes four distinct products and packages them together to offer clients a total solution for maximum impact. Each component is cloud-based, intuitive, and ready to improve your operations.
Prophix Software (On-Premise)
Prophix provides access to all the critical functions you need. It will help you oversee simple budgeting and reporting to more complex requirements such as financial consolidation with multiple currencies, variance analysis, and revenue and personnel planning. Carefully monitor your organization and manage performance, so you get a forward looking view of the future.
The BDO Solutions Advantage
IBDO Solutions has the experience and reputation recognized by both customers and partners. We will work with you to provide a comprehensive understanding of how both cloud-based and on-premise CPM solutions can impact not only spreadsheet-based processes, but provide you with a better understanding of the importance of technology to the ongoing and future success of your organization.