Explainer Video (Business Executive, Presenter, CFO Business Briefing
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EnglishVoice Age
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North American (General) North American (US General American - GenAM)Transcript
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project business automation fundamentally changes how CFOs in project based companies do their job and the value that they can bring to the organization. Here's how. As the CFO of a project based company, you are likely putting together financial reports for the CEO and board on a regular basis. And that probably means there was a team of people gathering data from multiple sources and compiling everything in spreadsheets to produce the necessary reports. The problem is, by the time you present this data, it is outdated, incomplete and likely has many errors and estimations, making it difficult to use for quick and meaningful decisions. Now let's look at how this works with project Business automation instead of separate systems with P B A. All project business processes and data are managed in one system. That means the financial situation of every project, portfolio and program is visible in real time. So you always have detailed insight into the fiscal health of the company. So if the day before your monthly board meeting a project manager makes a change to the project schedule that affects the cash flow and revenue recognition of that project or programme, you know instantly and your reports are adjusted automatically giving you and other executives the information you need to take quick and decisive action with confidence. So what does Project business automation due to provide this first PB A standardizes processes around best practices, so you do things consistently at the same time. Data is standardized, so you get dependable metrics you can use to measure performance across the company. Second, PB A integrates your operational and financial processes and data in one system. This aligns all stakeholders and creates a single source of truth that everyone can rely on. Third p b a. Automates many of the manual processes that exist today around project execution, data gathering and intelligence, giving you real time crucial insight you can trust. As a result, P B A gives you real time insight into every part of your project portfolio with P B. A. You know the profitability, cash flow, E. A, C, B, a, C variances and e v a of every project at all times. This also means that things like work in progress reporting and revenue recognition can be automated with this kind of insight and centralized nature of P. B. A. You also gain much more control of your finances and operations. And this, in turn, enhances collaboration across the company because everyone is always on the same page. These three things are so important because they directly lead to higher profitability through increased efficiency, lower risk through increased control and greater agility with the ability to respond faster to issues or changes in the environment. The bottom line is, if a CFO wanted to design a system for project organizations, it would be project business automation. It's built to bring maximum transparency and control to CFOs and other executives. And that's why leading project driven companies were using PB A today. Thanks for watching this CFO briefing on project business automation. To learn more schedule a personalized briefing with your Deka representative today or goto Addicott dot com slash CFO.