A Journey with Continuous Outcomes
Finance modernization is a journey toward integrating data and enjoying the related benefits. Your single source of truth for data and your finance modernization journey will help you make steady progress toward accessing real-time, self-service data and insights, which ultimately moves finance closer to the center of business decision-making. When different parts of the organization are no longer haggling over versions of the truth, you will be able to more easily agree on decisions and have analysis backed with reliable insights.
The benefits of finance modernization go beyond providing faster, more accurate decision-making tools and visualizations. Standardized reporting, analytics, and processes will save you time and free your people from the mundane so they can focus on innovation. Employees will be doing better, smarter work that will elevate their role in and connect their value to the organization.
Your strategic roadmap of quick wins will begin to add tangible value, allowing you to show cost savings and increased efficiency. Financial institutions Oracle has worked with have found success with projects that:
- Reconcile massive volumes of daily customer records from multiple data sources and regions into a single data model
- Analyze profitability and cash-flow requirements for each customer relationship and improve risk management
- Monitor the performance of individual banking products, business units, and relationship officers to assess their contribution to profitability
- Allow employees to focus on sales, marketing, or customer relationships rather than spending hours extracting data to produce reports
- Boost the performance and efficiency of core business operations such as payment processing