Why mobile finance is a game-changer
Stephen Hambling talks openly on Kybos Diary of a CFO about mobile-finance and why is a game-changer.
It’s not just about creating an accurate forecast; there are still distinct differences between the tools. The key now is engaging the end user and capturing their attention. One reason I chose to work with Jedox is its mobile app. Engaging with end users, especially non-finance users, requires a web presence, but a mobile app is crucial. It allows them to use and interact with the tool wherever and whenever they choose.
Forecasting 2.0
I call this Forecasting 2.0, which is now the minimum standard for forecasting tools. The world has evolved significantly from five years ago, and a new generation of tools, like Jedox, leads the way. Producing a decent model should be a given, though not all tools achieve this. The baseline has shifted from what was once the goal to now focusing on usability and engaging non-finance users. This is what truly sets tools apart. People prefer visually appealing presentations over lines of numbers.
Data must be immediately clear
While finance professionals may handle data in spreadsheet format, management teams need graphs and data presented differently. It must be immediately clear, and the screen should be tailored to the user’s needs, offering different views for different functions. You need to provide the necessary information, whether it’s forecasts, actuals, or variance, in a visually engaging way. If sugar prices are crucial, include a graph for that, or real-time stock tickers, weather updates, or marketing statistics. All these elements should be integrated into a single, customised screen for the user.
Discover the Jedox mobile app
Jedox features a mobile app that creates a unified look and feel, tailored to user needs, and accessible on mobile devices, ensuring engagement. Building forecasts is still important, but the ability to engage users is the future of forecasting in the CFO world. That’s the challenge we need to tackle.
About Stephen Hambling,
CEO and Founder of Kybos, a UK based Jedox partner.
I provide simple, clear, commercial forward looking financial support to founders, entrepreneurs and CFO’s of Small and Medium sized companies. Typically I’m the special projects guy, commercial troubleshooting, systems help, M&A or cashflow & turnarounds. I’ve implemented several hundred finance systems. Implementations are not a core skill set for the average finance team, so it’s easy for a project to go off track. Clear simple guidance before, during and after an implementation can make the world of difference.
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Aout Kybos
Kybos is a dedicated UK Jedox gold partner. We build planning and analysis solutions that deliver value fast using accountancy qualified consultants. Whether you want a fully customised application or to build upon an existing solution, Kybos consultants are here to help.