Best of breed software & data integration - one of the top headlines in finance in 2021
As finance professionals become users of big data, best of breed software and seamless data integration become crucial to easily combine data residing in different sources to provide a real-time view of business performance.
When we talk about best-of-breed software in finance, we talk about software developed to address a specific niche or functional areas and software that performs a specialized function better than an integrated system. An example of a specific niche is your consolidation.
The market is exploding with this type of software right now -- software that can solve both small and big daily work challenges.
However, there are two questions you need to answer with a clear "yes" before diving head into best of breed software and data integration; otherwise, you will end up creating more problems than you solve.
1) Is the software in question simple to learn and use?
When best of breed software purchasing becomes a dominant strategy, a digital finance function
will require many different software tools. Therefore, each of them must be easy to learn and easy to use.
2) Is the software built for easy integration with other software?
Stand alone software is not part of the digital future in finance. Software of today must be easy to integrate with other software; otherwise, it will not be the asset you are hoping for.
In this webinar, we look at an example of integrating two major tools in a digitalized finance department: ERP & a consolidation tool.
You will learn:
- The challenges of becoming data owners and what you need to understand in the data processes
- How an API works to facilitate easy data integration
- What to keep in mind when purchasing software from different vendors to obtain the
best-of-breed offering for each application
Master your role as data owner and join us at the webinar.