6Oct-Nov 2017Copyright © 2017 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.OCT-NOV, 2017Mailing AddressValleyMedia, Inc.44790 S. Grimmer Blvd Suite 202, Fremont, CA 94538T:510 230 0396, F:510-894-8405 Oct-Nov, 2017, volume 03 - 06 Published by ValleyMedia, Inc. To subscribe to CFO Tech OutlookVisit www.cfotechoutlook.com Managing EditorSarah DawsonEditorial StaffSalesAaron Pierce Russell Thomas Sarah Fernandes Ava GarciaJoshua ParkerJustin SmithVisualizerAsher BlakeFINANCIAL REPORTING SPECIALCatherine Paulcatherine@cfotechoutlook.comEditor's NoteSarah DawsonManaging Editoreditor@cfotechoutlook.comConsuming information critical to the business from reams of paper and hundreds of spreadsheets containing balance sheets, income statements, and equity information--the very statement is self-explanatory of the inefficiencies involved in the traditional process. Conventionally, the financial reporting process has been viewed as a traditional process from start to end, right from the aggregation of data from multiple sources of truth by the finance and accounts departments, all the way to the hours spent examining a myriad of numbers by executives.As is with any significant breakthrough, necessity has incubated invention. Today, with a wide range of technologies such as cloud, big data, and analytics made ubiquitous to enterprises worldwide, the face of financial reporting has changed.The use of efficient data processing engines has profound benefits to the summary process at many levels--conversion of unstructured to structured data, examination of statements at granular detail as opposed to the aggregate numbers, easy digestion of overall information, and the ability to pick out financial and business trends for critical decision-making.Intuitive dashboards and smart UI allow the user to view data in various formats and levels of detail, making strategic information available at the fingertips of executives, not only during annual meets, but in real-time throughout the fiscal year. Developments in open architecture and application programming interface (API) allow financial reporting systems integrate with various other systems such as Accounts Payable (AP), ERPs, CRMs, billing software, and so on. Essentially, this allows the user to aggregate data from multiple sources of truth onto a single reporting platform.In, a bid to uncover the latest developments in financial reporting and the prevailing challenges they tackle, we have identified the disruptions in this field.Let us know your thoughts.Moving Beyond Numbers*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staff
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