DataRails Blog

The DataRails blog is dedicated to keeping you informed so you can plan smarter. Enrich your knowledge base to help your organization grow and thrive.

Finance Departments Forced to Do More With Less
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Finance Departments Forced to Do More With Less

While budgets are declining, to-do lists are only getting longer. Technology and data are identified as two of the key issues impacting the effectiveness of finance in providing the quality of decision support needed. For many finance functions there is no single interpretation of the available data across the enterprise, making the governance process a continued challenge.

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Adjusting Financial Disclosures Due to COVID-19
General

Adjusting Financial Disclosures Due to COVID-19

Due to the pandemic, amounts recognized in the financial statements must be adjusted to reflect changing events. Management needs to continually review and update assessments to ensure that up to the date financial statements are issued given the fluid nature of the crisis and the uncertainties involved.

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Culture Matters for Finance Tech Adoption
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Culture Matters for Finance Tech Adoption

Advances in technology are paving the way for a stronger finance department, a change that requires cultural and behavioural shifts within the function. More importantly, it requires executives to actively get on board behind technology adoption initiatives.

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McKinsey: Turbocharging FP&A Among Top CFO COVID-19 Duties
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McKinsey: Turbocharging FP&A Among Top CFO COVID-19 Duties

McKinsey recently published an article on the CFO’s critical role in helping companies navigate the coronavirus crisis. The CFO’s responsibilities persist throughout all segments of the organization’s crisis life-cycle of survival, stability, and a hopeful recovery by actively dealing with the crisis’ 3 segments.

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Board Reporting During COVID-19
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Board Reporting During COVID-19

Business continuity and crisis management plans commonly prepare organisations for a one-off event. But few organizations, if at all, were prepared for a threat like COVID-19 that could potentially play out over months or longer.

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Risk Mitigation in Uncertain Times
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Risk Mitigation in Uncertain Times

The emergence of COVID-19 went beyond the wildest imaginations of risk assessors. Busy forecasting against the “traditional business” threats, it did not occur to most people that a virus could disrupt, and even halt, major world economic sectors.

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