Finance Analytics

Dienst

Finance Analytics

Leverage the power of analytics and improve day-to-day decision-making

Data is a catalyst for change and can help Finance reach far beyond its traditional responsibilities and core capabilities. It is no longer sufficient to simply analyse numbers from a spreadsheet or standard BI tool. To understand and effectively utilize big volumes of data, it is necessary to identify patterns in data and answer questions such as; what is the data telling you, what can data do for your organization and what role does the finance function have to fulfil in this setting?

Through our extensive Finance Analytics offering, we help Finance reach far beyond the traditional responsibilities and core capabilities. We enable Finance to transform into an effective business partner and “enabler of analytics” that provides decision support throughout all business areas. Financial data from your ERP-system can be used for more than simply running mandatory reports. Deep-grained insights of your organization are necessary to maintain your competitive position. They provide a starting point for improving a wide range of business processes. However, this does require knowledge on how to analyse the data.

Why Deloitte?

At Deloitte, we help Finance Functions leverage the power of analytics and deliver much more than accurate financial statements and reports. We help our clients to deliver forward-looking, predictive insights that help shape the business strategy and improve day-to-day decision-making in real time.
By applying analytics to large volumes of data, we help you to improve your financial management. Not only do we know where to find the required data and how to analyse it, we are also aware of what is going on in your industry to be able to identify the relevant figures. We present results in a clear and effective dashboard that helps you to elevate the impact of your business drivers on your overall enterprise value.
We can provide added value through employing analytics for:

  • Monitoring performance consistent with business strategy and processes; obtaining detailed insights in costs and benefits
  • Managing and combining insights from your financial and non-financial data better and gain insights from your master data
  • Combining your own proprietary data with public data to determine your position in the economic landscape
  • Identification of the most valuable clients/customers and effectively retaining and expanding them
  • Simulating future changes in your sector to investigate the impact on your organization
  • Employment of satellite images to identify potential sales leads
  • Employment of data analytics to identify potential exposure to risks and pro-actively respond

What value does it bring?

Finance analytics provides access to better insights: plans, budgets and predictions will become more accurate as they are based on a large amount of financial and non-financial data. Thanks to thorough analysis of your finances, you improve your competitive position and you can anticipate on the results of your periodic reports.

Furthermore, finance analytics can bring many benefits, including:

  • Turn mountains of data into nuggets of insights
  • Provide forward-looking and predictive insights to shape the business strategy
  • Reduce bias and gut-instinct decision-making by supporting the fact based discussion making process
  • Increase Finance effectiveness
  • Turn the Finance function into a strategic partner for the business

How we helped other clients

Our numerous engagements in the Netherlands and across the globe resulted in a large number of Finance Analytics solutions that are now made available as accelerators to our clients to build upon and tailor to their specific needs. Our extensive Finance Analytics offering includes analytics for forecasting, expenditure and vendor management, financial processes, risk management, profitability, working capital optimization, and (CFO) management reporting.

  • Deloitte enabled a global beverage company to significantly improve their Working Capital position through dashboarding and custom-made analytics tooling, providing both actionable information on the largest improvement areas as well as drill-down functionality towards granular insights on transactional level covering individual markets, customers, suppliers, and even invoices. Combining advanced Finance analytics with our Working Capital methodology unleashed a powerful mix of levers to ensure a structural significant reduction in Working Capital levels.
  • Deloitte designed and developed a Digital Cockpit to help CFOs and Finance Executives visualize and assess financial performance through a set of dashboards that address specific questions in the areas of: profitability, operational expenditures, accounts receivables and capital expenditures.
  • Deloitte was engaged by a client to improve the forecast accuracy and transform the monthly financial status reports. As part of the scope, Deloitte applied data visualizations to summarize the financial status and predictive modelling to predict and reshape the forecast. The designed solution enabled the Finance Function to become a business partner, provide strategic advice to their internal clients, and transform how they interact with their clients through leveraging dynamic and interactive dashboards.

Deloitte Analytics Services

Interested?

Do you want to improve your financial management by using the numerous opportunities of finance analytics? Feel free to contact us

Contact

Marco van Ackooij

Marco van Ackooij

Partner

Als consultancy partner heb ik een brede advies track-record. Specifiek adviseer ik financiële instellingen op het gebied van Finance & Risk transformaties en ben ik een entrusted business advisor voo... Meer

Frank Geelen

Frank Geelen

Partner

Frank Geelen is Deloitte EMEA Lead Partner Finance Transformation & CFO Program Lead Deloitte The Netherlands. He supports CFOs with the development of their finance strategy, improving the finance fu... Meer

Jorg Schalekamp

Jorg Schalekamp

Partner

Jorg is a Partner within Deloitte Consulting. He has over 17 years of experience in advising clients on how to leverage the value of Data, Analytics, Digital and IT and has extensive experience in man... Meer