Regardless of industry or size of the company the Office of the CFO needs a solution to integrate and automate the applications that support their business function. There are many enterprise technologies that are sold to the line of business that supports critical functional areas such as financial planning and analysis (FP&A), corporate consolidation, and sales performance management. While these technologies address a specific functional area, it is imperative, but often overlooked, that they also integrate with source and target systems in a broader ecosystem of interconnectedness.
Integration between these business applications can be built using the common iPaaS (Integration Platform as a Service) technologies but can a business user realistically support and use it? In most cases, the answer is simply ‘no’. What does that community of users typically resort to? Most common answer: manual interfaces and scripted custom code. These approaches have a lot of hidden costs and they are not maintainable, sustainable, flexible, and auditable and often times put the implementation and the ROI of the business software at risk.
Just add resources…
Many enterprise business systems that support the CFO are supported by a team of people where code is developed, versioned, and maintained. In short order, the cost of ownership skyrockets as does the complexity and what was supposed to be a simple integration is now a responsibility that is most likely not core to the business and leaves little time for value-added activities such as strategic planning, analysis, and insightful reporting.
Leverage existing iPaaS Technology
Returning the focus to iPaaS, many of these legacy providers advertise “we support” integrating with [fill in the blank], but they still depend heavily on exposed APIs to complete the integration, at the expense of usability. Is this really a true solution for integration? The question gets posed since a significant portion of completing the connection between technologies still depends on writing code. Often a non-starter for the constituent of users that support finance business systems and under all circumstances a significant additional (hidden) expense.
What does the modern CFO need?
Line of business users in finance would greatly benefit from an intuitive and code-free approach to connect and automate their applications with application-specific commands for end-to-end automation and integration. For example, a finance analyst needs a simple point and click way to automate currency translation and corporate consolidation in combination with steps that extract and load data with various source and target systems. Additional use case includes the following:
- Strategy to Move to the Cloud with turnkey integration with legacy finance applications such as Oracle Essbase, Oracle Hyperion Financial Management, Oracle FDMEE, Oracle DRM and IBM Cognos TM1 in combination native integration with technologies such as Anaplan, Oracle EPM Cloud, Host Analytics and IBM Planning Analytics.
- Intuitive data preparation to transform, map, and pre-aggregate data during the transfer from source and target systems.
- Enhance application utility with simple and easy wins like set-date and keep-alive functions for Anaplan, automate FTP loading in BlackLine and manage variables and application switching in Oracle EPM, and many more.
- Save time and costs by leveraging existing infrastructure with point & run capabilities to the existing batch scripts or incumbent integration and job scheduling technologies.
If this sounds like something that is too good to be true and not possible without significant resources or time, then you most likely haven’t been introduced to an iPaaS technology called OneCloud - a technology that supports the modern CFO. Learn more at onecloud.io or get started today by spinning up your free full-use trial.