inlumi blog

Automation: it is everywhere in the Accounting and Finance world, from invoicing to salary payments. Where there is a large proportion of repetition in a boring workflow, automating it is the sensible option.

In the blog post "What is analytics and why do we need it?" I stated that the data from disparate data sources should ideally be collected into a common data warehouse. Let's take a midsize company as a simple example in order to make this more tangible. The company makes money by billing hours and would therefore at least track the following profit metrics: employee cost, utilisation and forecasted earnings. Even a small company would need the following systems:

Will the software solution solve my planning issues?

In recent years, we have experienced many new software solutions for planning, budgeting and forecasting (PBF). Companies have acquired and implemented new software solutions with the anticipation that their PBF issues disappear like snow in the sun.

As a Financial Controller, you might love Excel. But simply using spreadsheets for the creation of your budget or forecast has significant consequences.