Acterys’ esteemed Italian partner, Bi Factory, recently hosted the “Next Generation FP&A” workshop on April 11, 2024. This event was specifically arranged for Italian organizations aiming to refine their planning and analytics processes. Featuring profound insights from industry experts at Bi Factory, including Franco Perduca (CEO and CTO), Sara Bozzo (CEO and Team Lead), and Walter Gabetta (Head of Global Business Relationship), the workshop attracted numerous companies and professionals eager to explore advanced FP&A solutions powered by Acterys.
Walter Gabetta set the tone in his opening remarks: “‘Better planning and forecasting’ is the ambition of every company, and in the era of the Data Digital Economy, it’s an increasingly complex challenge. However, with the right paradigms and resources, it can be addressed with increasingly interesting results.”
FP&A software has become essential in Enterprise Performance Management (EPM), gaining traction not only in large corporations but also among SMEs and micro-enterprises.
Sara Bozzo emphasized, “The familiarity of the tools is a key factor for real adoption in a short time; a factor that can make the difference between the success and failure of an EPM project.”
Throughout the workshop, our partners illuminated the transformative potential of Acterys technology, particularly for Italian SMEs that form the backbone of our industrial landscape.
Here are five key takeaways from the workshop:
In many companies, Microsoft Excel remains the primary tool for financial planning and analysis. Renowned for its versatility, Excel has become a staple in business operations, mastered by many to conduct complex data manipulations. However, this widespread reliance on Excel often results in financial data being stored in numerous files, shared via email, and updated asynchronously—leading to disparate versions that can be challenging to reconcile.
Additionally, businesses frequently integrate static data sources into Excel by manually extracting and updating key data periodically. These data sources effectively become isolated silos that are difficult to synchronize and communicate with each other.
The drawbacks of this method are clear: reporting becomes a cumbersome and error-prone process, aptly dubbed “Excel Hell” by industry experts. Modern FP&A software solutions like Acterys address these challenges by serving as an intermediary layer that eliminates the key gaps in Excel. It provides write-back capabilities supported by the best backend database on the market (Microsoft Azure), coupled with data governance and AI.
This setup not only facilitates visualization, sharing, and analysis through tools like Power BI dashboards and reports but also enables real-time connectivity with data sources. This ensures that the latest information is always accessible and allows for the seamless integration of multiple data streams into a unified dashboard or report.
Acterys is firmly embedded in the Microsoft ecosystem, leveraging familiar tools like Excel and Power BI. This integration provides a smooth transition for users, promoting easier adoption among professionals accustomed to these platforms.
Another significant advancement in modern FP&A solutions, beyond those traditionally reliant on Excel, is the granular control over data access and visibility. These systems allow for precise management of who can view, add, modify, or delete data. Such control is highly valued by IT and legal teams, as it facilitates strict adherence to regulations like GDPR, particularly crucial during inter-departmental data exchanges.
Previously, the focus on these aspects was minimal, but today, the landscape has changed dramatically. There is a growing frequency of reports regarding fines levied on companies for negligence concerning data accuracy, circulation, and visibility.
The detailed and intentional control of access and sharing, coupled with an advanced tracking (log) system, provides a robust safeguard. This not only offers users peace of mind but also streamlines responses during audits, whether they are routine or unexpected.
One of the most valued features of modern FP&A software solutions, like those offered by Acterys, is their capability for advanced automation, including the creation of automated workflows. These systems enable the execution of numerous tasks, which traditionally required significant human intervention, with minimal effort.
This automation saves time and ensures that actions are consistently performed following predefined rules and traceable events. Such efficiency provides a substantial competitive edge to companies that effectively leverage these tools and distinguishes them from those that do not.
Moreover, automating routine and easily automatable tasks liberates staff to focus on more strategic activities, enhancing the overall quality of the work experience. This shift removes the stress associated with time-sensitive tasks that, although seemingly minor, can lead to significant consequences if not executed correctly and promptly.
During the workshop, Franco Perduca highlighted the unique aspects of Italian companies and stressed the importance of providing solutions that can effectively capture and enhance their distinct characteristics. Acterys, known for its flexibility, is ideally suited to serve as the cornerstone for a sophisticated FP&A platform that can drive business growth.
For such implementations, it is crucial to define clear objectives, key stakeholders, roles, and responsibilities. These solutions can rapidly enhance workplace efficiency and deliver noticeable results, sometimes within just a few weeks. To demonstrate the capabilities and benefits of this approach, Bi Factory has developed a “Proof of Value” experience. This tool is designed to showcase the practical advantages of the Acterys platform and is detailed on the dedicated Acterys page on their website.
The speed and flexibility of Acterys are exemplified by its ability to seamlessly connect with over 600 data sources in just a few clicks. This rapid connectivity is mirrored in its dashboard creation capabilities. With a plethora of templates ready for immediate use, Acterys also provides an extremely user-friendly dashboard and report design environment, enabling teams to craft precisely what they need without undue complexity.
Once the hurdle of accessing and manipulating data easily is overcome, the advantages of Acterys become even more apparent. The platform allows for the creation of multiple hypothetical scenarios, a critical feature for forecasting potential changes and bolstering organizational resilience.
Moreover, Acterys enables direct interaction with data sources, facilitating scenario simulations and the ability to write back to data sources directly from the dashboards. This functionality ensures data integrity and accuracy in accordance with predefined rules.
The Acterys FP&A software is constantly expanding its capabilities and now integrates with a number of generative AI technologies, including ChatGPT. These advancements offer innovative ways to access data and generate reports, paving the way for identifying practical applications where AI can enhance the efficiency of FP&A professionals daily.
Watch the full workshop to learn how Acterys can help improve your FP&A processes.
FP&A activities, along with their broader application across entire organizations through XP&A, significantly benefit from sophisticated software solutions like those offered by Acterys. These tools have demonstrated their ability to enhance work experiences and outcomes, as evidenced by the success stories of Italian companies supported by Bi Factory.
The challenges of navigating complex regulations and dynamic markets continue to grow. However, the advanced tools available today, paradoxically, are becoming more user-friendly and easier to implement. This evolution is critical as businesses seek to harness these technologies to gain a competitive edge.
Bi Factory, as Acterys’ partner for Italy, provides comprehensive FP&A and xP&A solutions that integrate well-known tools such as Power BI and Excel. This synergy facilitates the swift and effective extraction of value from business data, supported further by cutting-edge AI technologies.
Acterys is available for both on-premise and cloud deployment and is empowering over 700 companies globally, with Bi Factory spearheading customized and efficient EPM solutions in Italy. This partnership underscores a commitment to transforming business data into actionable insights, propelling companies toward greater efficiency and success.
Want to try out Acterys and see how it can transform your FP&A processes? Start a free trial today.
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