Data as your basis
Your systems are never better than your data. Since data are a bit like the bricks of your house. If they aren't strong, stable and properly structured, everything will fall into ruins. That's why data quality and a solid data structure form the basis of all your Finance IT initiatives and projects. Whether you intend to automate heavy, manual processes or implement a new ERP system.
This is expressed by the old, well-known idiom "crap in – crap out”. And there is a simple reason for this: Namely that the idiom contains much truth. Because you'll get nothing but a poor - and in worst case useless end-product if the data that you feed into your systems are incorrect or incomplete.
But luckily, you can do a lot to create quality data.
Consider your data structure the basis of your financial systems
Our approach to data follows our Finance IT Foundation Framework, illustrated below, the focus of which is on technology as a financial lever. This means that - with this as our point of departure - we can help you analyse your underlying IT and system structure, which has a direct impact on the basis for timely, correct, complete, efficient, reliable, and insightful financial information.
So, your basis becomes manageable - and more specifically the data structure that is so decisive for the basis or for the systems that you may implement on top of it.
Finance IT Services is made up of a team with a solid understanding of financial processes and of financial management as well as digital skills, including experience with all data aspects. Our approach is 'hands-on', meaning that we provide advice based on the experience acquired from the financial engine room of major Danish and international companies.
So, if you are faced with a digitalisation project where you would like help to ...
- Clean you master data
- Convert or migrate data from old to new systems
- Make a master data analysis to get an overview, have your data entry process, issuelog and prioritisation, field, and table value proposals analysed
- Build a master data model, including have defined objects and attributes, meta data, data lifecycle, input for key figures and datamodel for employees, customers, sellers, products, services, etc.
- Run a datawash, including data extracts, quality assessment, design of reports, and controls
- Create an overview of your data and system landscape
- Analyse your data and, on the basis hereof, design a concept for data access
- Establish master data system support
- Carry out data collection and loading
- Map master data processes and procedures to be able to analyse and optimise
- Draft a master data organisation, including descriptions of roles
- Carry out master data implementation and change management
- Plan master data training and prepare a communication plan
Well, then we can help with consultancy or project assistance.
Boost your data with a BI solution. The use of data is decisive for creating insight in your business and bringing what cannot be seen with the naked eye into the light. But unfortunately, data analyses may quickly develop into a heavy and time-consuming obligation that does not create the value desired - especially if data analysis equals reporting. But, in this connection the right BI solution may become your best friend and help you use your data as value-creating as possible.
Finance IT Services' digitalisation circle shows the competence areas that we can bring into play when the financial processes in your company are to be digitalised with a holistic point of departure.
When helping to digitalise and automate a Finance function, we take pride in combining the applications and tools that will meet your specific need. In a way so that the solution supports data, processes, and the people working hard behind the lines.
You can click in the various areas in the figure below to read more about the many competences shown in Finance IT Services' digitalisation circle.