In today’s complex business landscape, organizations with multiple subsidiaries and global offices face significant challenges in executing financial consolidation and closing cycles efficiently. Stakeholders, auditors, and investors must be able to assess and comprehend the financial health of an organization based on the quality and timeliness of the consolidated financial statements. To overcome the limitations of traditional tools and streamline financial consolidation and close processes, organizations can leverage the power of Oracle Financial Consolidation and Close Cloud Ser ..read more

  This month, I had the opportunity to attend Amazon Web Services (AWS) Summit Toronto 2023 at the Metro Toronto Convention Center. The summit featured over 70 keynote presentations, breakout sessions, demos, and networking opportunities with AWS experts and partners. The trends and topics at this event included data analytics, sustainability, application modernization, cloud migration and modernization, AI and machine learning, and operational excellence. Datavail is proud to be one of the AWS Summit’s sponsors and an AWS Advanced Tier Consulting Partner, and we loved that the show ..read more

  Accounts payable processes refers to various procedures that enable businesses to manage their payment obligations efficiently and effectively. Accounts payable act as a general ledger that can showcase all credit purchases as well as various services that your business is required to pay to creditors or suppliers.   Furthermore, accounts payable act as a short-term liability in your business’ balance sheet. Therefore, it is crucial to keep track of individual accounts and payments to help facilitate positive relationships with vendors. However, as the amount of payment-related ..read more

  It is becoming increasingly crucial for modern organizations to become more and more technologically innovative to catalyze digital transformation and increased efficiency. A recent study conducted by McKinsey found that global revenue in the industrial sector could be increased from $166 billion to $477 billion by using digital technology.   Cloud ERP (Enterprise Resource Planning) solutions are defined as a type of software that businesses utilize to manage day-to-day business operations such as procurement, accounting, risk management, supply chain operations and regulatory ..read more

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Whether intentional or unintentional, changes to your FP&A and close systems can have serious consequences for your business.   The much-maligned audit process—already a source of dread and panic for organizations that undergo it—can become even more unpleasant if auditors discover that changes have been made to your Hyperion environment without you knowing about it. In this article, we’ll discuss 4 possible repercussions that might befall your organization when changes go unnoticed. 1. Poor decision-making Incorrect changes to your chart of accounts, or to your calculation rules in O ..read more