Organizations have naturally built up their internal financial application ecosystem through acquisition and sheer necessity. While well intentioned, this means we end up with a slew of disparate internal applications all leaning on the thin internal IT team with a 6-month lead time before they can even consider new requirements for integration with the system...
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Due to the lack of confidence around the accuracy of their financial reporting, finance organizations are undertaking Record to Report (R2R) transformations that target the goals of lowering cost, increasing operational support, reducing risk and improving controls. With the emergence of leading technologies such as Robotic Process Automation (RPA) in the office of finance, more...
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A recent EY survey of over 1,000 CFOs found that half are not even “somewhat confident” in their degree of financial reporting. In order to solve this challenge for CFOs, investors, pensioners and more, we must move financial reporting accuracy from a coin flip to near certainty. To do this requires us to revolutionize our...
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In recent years the historical risk factors that have impacted the midstream oil and gas sector – e.g., commodity price volatility, geopolitics, increased competitive intensity, etc.— have grown exponentially more complex. While once tethered to physical supply and demand, the price of crude oil is now tied closer to macroeconomic influences that make turning a...
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The upstream oil and gas industry has always held a certain level uncertainty within its revenue stream. Like early wildcatters[1] drilling exploratory oil wells in the hopes of striking it rich, today’s upstream industry can often struggle to remain profitable in the face of issues beyond their control. Issues such as: Advances in non-fossil fuel...
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For the past ten years, the role of the CFO — in addition to their accounting team’s function — has rapidly evolved. The CFO is no longer regarded as simply a number cruncher but is now required to step into the role of financial strategist, and an interesting EY study, The Changing Role of the...
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When was the last time you looked at the structure of your intercompany process? If you’re like most organizations, the intercompany accounting process is generally a difficult and disorganized process due to an inherent lack of visibility. Fortunately, to date, most finance departments have adapted to its complexities and developed at least some way of...
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I started in 2015 as an intern, the first on our team. Very soon after I completed my initial training, I jumped right to work. I helped the IT team with laptop encryption, deploying laptops and anything else they needed. After my internship, I came to work full-time for the Cloud team, and after I’d done some additional training for a few months, I was assigned to cover the APAC (Asia Pacific) shift. I worked nights for a year and a half and learned a lot rather quickly having that responsibility.
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Ever since Artificial Intelligence (AI) was introduced, there has been a strong focus on the disadvantages of utilizing this new technology, especially in finance organizations. One of the most circulated ideas is the belief that AI is out for jobs— to displace the need for accountants. However, The Global Treasurer recently published an article critiquing that common misconception. AI is not a job replacer....
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During this chilly season in Texas, two Trintechers are lacing up their skates and taking to the ice to raise money for the inaugural charity event of the Dallas Stars Foundation – The Stars Big Heart Celebrity Challenge.
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