There is no migration, CFOUR intelligently fits into the process, automating tedious processes, increasing the speed to generate actionable insights from a unified data store containing a single version of the truth.
In a world of connectivity, devices and innovation, the exponential growth of data has become an absolute. Industry analytics experts expect data in 2025 to be 4 times that of 2020 totaling 175ZB worldwide. To note is that while data grows 400% in 5 years, less than 30% gets analyzed. Albeit all business are data businesses and in some shape or form process data ito generate insights for decision making.
Many times these processes are performed using inadequate tools such as spreadsheets, which require a lot of manual intervention. The processes are prone to errors due to the human factor involved, costly as the resources involved are senior staff, but never ready when urgently required due to the cumbersome process. How many times the figures presented in a meeting is challenged by the stakeholders, leaving the presenter with no option but to re analyze data and breakdown figures, which results into additional time lost in data preparation.
This is further complicated in organizations or groups with multiple entities. Varying accounting systems, multiple verticals, different finance methodologies, different countries and currencies, are just a few of the hurdles to create a holistic view of performance. Understanding which organizations, vertical or brand category is generating the revenue growth is difficult to achieve.
CFOUR sits on top of the organizational complexity and provides a centralized store for all your finance data. A set of standard analytical reports are provided out of the box with the solution to head start the users. The strong, proven and felxible data models witin CFOUR give the user the ability to generate new insights from a single place, from BI to AI in order to support forecasting simply and effectively.