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The need to up-to-date, integrated information and analytical data is crucial to the success of the organization and certainly to the accountants, auditors, financial investment professionals and finance managers in any enterprise. But, in an age of user and data breaches, the IT team may be hesitant to allow meaningful, flexible access to critical business intelligence.
In order to protect the enterprise, and its interests, the IT team must:
Accountants, finance managers, auditors, financial investment professionals and other financial professionals are also responsible for protecting the enterprise, and its interests. To do so, they must:
The tasks and responsibilities outlined above are just some of the things that IT and finance professionals must do to support the organization and, while these tasks can seem to put IT and financial professionals at cross-purposes, there is really no reason for conflict.
With the right Business Intelligence tools, the enterprise can:
With the right business intelligence tool, the IT team can satisfy its own compliance and budgetary requirements. It can monitor and manage Sarbanes-Oxley Act SOX controls, and data security and access rights controls, and establish key reports and automated processes to alert the business to issues when a threshold is crossed, or an issue is identified. The team can also monitor data warehouses, legacy systems and best-of-breed solutions and identify redundant data, performance issues, data parameters, or data integrity issues.
If the organization can give the IT team a tool that is useful to them and their role, and satisfy data governance requirements while, at the same time, meeting the requirements of finance and accounting professionals, the enterprise can achieve a win-win for all parties and, in so doing, ensure that everyone has the information they need to do their jobs.
When the enterprise takes a wise approach to business intelligence, it can avoid conflict and ensure that the IT team, business users, auditors, accountants and financial and investment professionals have feature-rich, easy-to-use tools that are accessible and will play an integral role in business success.
About the Author
Arbuda Dave is working as BI consultant and aim to provide best BI Solutions to her clients. Focusing on BI for Tally and upgrading Tally customers to self-servicing BI environment with interactive reports and Dashboard for Tally. Apart from this she likes traveling, participating in Business Intelligence forums, reading and social networking.
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