Enterprises who need to stay ahead in a technology-driven market require organizing, automating, and optimizing their core business processes. As these businesses continue to evolve through the aid of technology, the role of finance is evolving too. This is primarily due to the increased spending in IT that reached 3.7 trillion in 2018 and is expected to grow even further into the foreseeable future.
If we look at trends, it is evident that businesses need to adopt the right technology solutions. Solutions that make it easy to standardize operations, provide visibility, and deliver valuable insights to monitor the business pulse and proactively react to the changes. This necessarily involves making the most out of the enormous data that is generated in finance and operations functions. An ERP system is meant to do that and is in place for most of the global organizations. However, are they efficient? Do these systems promise a profitable business future?