Fast and clean. These two words define the ideal financial close process. This standard is held up as a measure of a finance or accounting department’s effectiveness. Companies are expected to get the financial close process done within a standard business week. This demonstrates competence, resource efficiency, and good management. An efficient financial consolidation and close process does two vital things.
Much of the hype around big data and analytics focuses on business value and bottom-line impacts. Those are enormously important in the private and public sectors alike. But for government agencies, there is a greater mission: improving people’s lives. Data makes the most ambitious and even idealistic goals—like making the world a better place—possible.
Across the globe, cloud concentration risk is coming under greater scrutiny. The UK HM Treasury department recently issued a policy paper “Critical Third Parties to the Finance Sector.” The paper is a proposal to enable oversight of third parties providing critical services to the UK financial system.
In order to better serve their customers and users, digital applications and platforms continue to store and use sensitive data such as Personally Identifiable Information (PII), genetic and biometric information, and credit card information. Many organizations that provide data for analytics use cases face evolving regulatory and privacy mandates, ongoing risks from data breaches and data leakage, and a growing need to control data access.
Indonesia’s largest hyperlocal company, Gojek has evolved from a motorcycle ride-hailing service into an on-demand mobile platform, providing a range of services that include transportation, logistics, food delivery, and payments. A total of 2 million driver-partners collectively cover an average distance of 16.5 million kilometers each day, making Gojek Indonesia’s de-facto transportation partner.
