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Machine Learning In Finance: 4 Ways CFOs Can Unlock Value

Richard McLean

Machine learning is shaping up to be the next major evolution in the transformation of finance. While the algorithms that enable machine learning have been around for decades, today’s increased computing power is pushing machine learning to the forefront. How can you prepare for what comes next? Here are four ways to guide the evolution and unlock the value machine learning has to offer.

1. Identify areas of machine-induced improvement

Businesses must continually make choices about how they allocate resources. There’s always internal competition for funding to pursue new business opportunities. An investment in one area requires savings in another. Machine learning enables increased savings by taking automation to a much higher level than previously possible.

In finance, the benefits of machine learning can be significant. For many companies, a high percentage of staff still perform transactional tasks that can be automated through machine learning. By letting self-learning algorithms find patterns and solutions in data instead of following preprogrammed rules, transactional tasks can be completed exponentially faster and with fewer people. Back-office processes like procure-to-pay, order-to-cash, and record-to-report can be radically automated as business networks eliminate manual work. If 20% of your staff is focused on general accounting tasks, then machine learning offers a real opportunity to free up funds for investment in innovation and growth and to free your people for more rewarding and higher-value work.

2. Create a learning culture

The real value in machine learning is about gaining control and using analytics to drive the business forward, which is a fundamental job of finance. It can support your efforts to transform your finance organization to be a more strategic partner to the business. At the same time, you need to think about how to train, develop, and future-proof the careers of your staff.

I firmly believe that machine learning and creating a learning culture go hand-in-hand. By cultivating an engaged workforce, your organization and its people can be more agile and adaptive to change.

I wrote about this topic extensively in Future-Proofing Finance: Building An Award-Winning Talent Management Program. In this article, I outlined a set of talent assessment, recruitment, and development processes that have helped me align the career aspirations of my team to the changing needs of the business. By investing in the talent of your team, you can expose them to new challenges to ensure that you have a strong talent pool to lead the organization and embrace the opportunities presented by the digital age.

3. Keep finance in your organization’s digital strategy

Truly unlocking the value of machine learning in finance is tied to your organization’s overall digital strategy. Where does finance fit into this strategy? If it doesn’t, then finance needs to claim a seat at the table.

CFOs need to start taking part in, and perhaps even drive, the organization’s discussions about digital transformation. Being part of this broader conversation helps generate momentum and reduce resistance to change. For some companies, there’s a lot of talk in public about the pursuit of a digital journey. But is your organization saying the same things behind closed doors? When it comes to internal conversations within a company and the need to invest in innovation, the digital journey can lose some attractiveness. CFOs need to help solidify the organization’s digital strategy so that when a business case is up for review, you’re well-informed and can make the right decisions.

4. Understand the importance of a digital core

An organization’s digital strategy sets a course for how the enterprise uses technology to enable competitive advantage in the digital economy. Machine learning has become a key component of an effective digital strategy.

Machine learning is dependent upon live, integrated business data. Therefore, to fully embrace machine learning, enterprises need to run on a digital core that is connected, intelligent, responsive, and predictive. This infrastructure needs to bring together live data, software solutions, and business processes in a way that enables instant clarity and unprecedented agility to improve all aspects of business performance.

By establishing a digital core, you can extend the benefits of machine learning throughout the larger enterprise. And by preparing your workforce to embrace it, you and your team can look optimistically to what comes next.

Machine learning and the larger world of artificial intelligence are no longer the stuff of science fiction. Learn more about machine learning.

Follow SAP Finance online: @SAPFinance (Twitter)  | LinkedIn | FacebookYouTube

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Richard McLean

About Richard McLean

Richard McLean, regional CFO for SAP Asia Pacific Japan, oversees all key finance and administrative functions for field and regional headquarters, supporting more than 16,000 employees. He has more than 20 years of experience in senior finance roles with leading global companies across a range of industries, including financial services, investment banking, automotive, and IT. He joined SAP in 2008.

How Continuous Accounting Can Transform Your Business

Elizabeth Milne

Last month I wrote a blog post, “What Is Continuous Accounting?”, which shared information on a webinar on the topic (watch the replay). Today, I’d like to share a research paper about continuous accounting. We worked with Ventana Research to develop this fantastic five-page paper.

Here’s a snippet: “The continuous accounting approach integrates people, processes, information, and technology to achieve a transformation of the finance function and its corporate role. Continuous accounting is based on three principles:

  • Use technology to distribute departmental workloads continuously across account of periods.
  • Support continuous, end-to-end process management to enhance efficiency and increase data integrity.
  • Adopt a continuous improvement approach to overcome inertia and the ‘we’ve always done it this way’ mindset to which finance staffs are particularly prone.”

The paper examines each of these key principles in further detail.

Continuous accounting: transformative for finance

The concept and implementation of continuous accounting is transformational for accounting and the finance department. The ability to truly harness technology to enable an “always-on” approach will change the processes and traditional approaches. As you examine existing processes and evaluate how technology can improve them, you’ll understand how the traditional approaches we designed were based on the technologies that existed at the time.

Computers and accounting aren’t usually considered to be exciting, sexy, sizzling topics. But for me, the thought of what is possible is really exciting. Transformation of accounting processes and period-end closing and the production of financial reports is very refreshing. As a colleague once told me, accountants aren’t boring people; they just get excited about boring things.

Continuous accounting: critical for the business

The concept of continuous improvement is also intriguing. For accountants, doing the same thing period after period can be tedious, but transformation can be inspiring. Providing financial information is critical for any business, being able to access that information sooner allows organizations to make better decisions. A closer relationship between the accounting and operational departments fosters collaboration and the ability to provide the information that is most relevant.

Improving these processes also enables people to work smarter, not harder. This can help with work/life balance since it can reduce the number of hours worked at period end by distributing tasks throughout the period.

After all, the period-end close and reporting is required, speeding that close is desired, and continuous accounting is inspired and admired.

What do you think—would continuous accounting be transformative for your business? Connect with me here or on Twitter: @ElizabethEMilne.

Learn more

Read the free research paper here.

This article originally appeared on the SAP BusinessObjects Analytics blog and has been republished with permission.

Follow SAP Finance online: @SAPFinance (Twitter)  | LinkedIn | FacebookYouTube

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Elizabeth Milne

About Elizabeth Milne

Elizabeth Milne has over 20 years of experience improving the software solutions for multi-national, multi-billion dollar organizations. Her finance career began working at Walt Disney, then Warner Bros. in the areas of financial consolidation, budgeting, and financial reporting. She subsequently moved to the software industry and has held positions including implementation consultant and manager, account executive, pre-sales consultant, solution management team at SAP, Business Objects and Cartesis. She graduated with an Executive MBA from Northwestern University’s Kellogg Graduate School of Management. In 2014 she published her first book “Accelerated Financial Closing with SAP.” She currently manages the accounting and financial close portfolio for SAP Product Marketing. You can follow her on twitter @ElizabethEMilne

Preparing For The Next Generation Of Corporate Real Estate Regulation

Thack Brown

Corporate real estate represents the second-largest expense for organizations today, but many financial leaders still lack the tools and techniques to manage leased space efficiently. In today’s digital era, all organizations are facing an increasing amount of data, and archaic manual processes that rely on spreadsheets are falling short in providing a holistic view of real estate assets.

Within organizations, any location used to support primary business goals, including offices, factories, and warehouses, falls under the umbrella of corporate real estate. While many organizations typically have a global facilities manager responsible for maintaining these spaces, often the CFO or other finance executives are tasked with efficiently allocating and managing corporate real estate assets to generate ROI, while also making sure that their organization is abiding by current industry regulations. In the face of upcoming changes in leasing regulations under IFRS 16 and U.S.-GAAP ASC 842 set to take effect in 2019, financial managers are facing more pressure than ever to streamline processes and improve efficiency when it comes to corporate real estate. For CFOs and other finance executives, there are three critical steps that must be taken to ensure that they are prepared to face new challenges on the horizon.

Ditch the spreadsheet

Maintaining a holistic view of all the data aggregated around a company’s corporate real estate portfolio, including lease terms and service agreements, can be a major challenge for finance teams who have yet to embrace digital tools. This is especially difficult for global organizations that operate across multiple properties, making it is physically impossible for the CFO to see every site that the company maintains. By moving beyond the traditional spreadsheet model, CFOs can develop a clear vision of the company’s real estate assets to understand the costs and investments accrued through every lease that the company holds. By embracing cloud technologies and automation tools for managing real estate assets, finance and corporate real estate teams can drive agility within their organization and ensure that they are keeping track of the real-time value of all global real estate assets in a way that keeps up with the speed of business today.

Leverage machine learning and automation technologies to prepare for regulation changes

Under today’s lease accounting standards, organizations are required to recognize lease assets and liabilities on the balance sheet for assets managed under capital leases, but not operating leases. However, a 2005 report from the U.S. Securities and Exchange Commission found that a lack of lease accounting requirements led to $1.25tn of off-balance sheet operating lease commitments in the U.S. This discrepancy led to the Financial Accounting Standards Board’s (FASB) issuance of an Accounting Standards Update (ASU) in February 2016, which will require companies to recognize assets for operating leases on their balance sheet. Effective January 1, 2019, this update will require CFOs to generate and manage significantly more financial postings for all real estate assets – creating a major shift for financial organizations. CFOs will now be tasked with managing an entire portfolio of operating leases and calculating valuations in interest, depreciation, and liability on a monthly basis for each lease.

This is an area where new advanced technologies, such as machine learning, can play a huge role in automating many of these previously manual processes. One example of an area where machine learning capabilities could be especially useful is for global organizations, where leases must be translated before being inputted into the system. Machine learning can remove this additional step, directly pulling information from leases and contracts regardless of the source language. Moving beyond spreadsheets, these technologies can save financial managers countless hours in generating the financial data needed to keep up with these new regulations, while also reducing reporting errors caused by manual reviews.

Take advantage of IoT and VR technologies to make the most of your space

Studies have shown that up to 40% of internal space within companies is not being utilized efficiently. Wasted space is particularly prominent in large corporations, where the CFO cannot physically see every site within the company’s real estate portfolio – making it difficult to grasp where inefficiencies lie and costs can be reduced. Internet of Things (IoT) and virtual reality (VR) technologies can mitigate some of these challenges by providing a comprehensive picture of company assets. For example, VR technology can be used to provide online and mobile tours of space to provide greater insight to a certain real estate entity without the need for the executive to be physically present. Additionally, IoT sensors can help monitor energy usage or building occupancy to inform corporate real estate managers and finance executives how property funds are being allocated.

For corporate real estate managers and finance executives – including the CFO – the challenges of managing corporate leases are rapidly evolving in the face of new regulation and technology advancements. If finance teams are stuck chasing spreadsheets and cannot efficiently allocate and manage real estate assets at the speed of the digital workplace, businesses serve to lose out on critical real estate investments. By taking advantage of the latest lease management technologies, these executives can effectively manage their real estate portfolio, optimize assets on a global scale, and ensure compliance with the latest regulatory requirements.

This article, originally titled “How advanced technologies can help finance executives prepare for the next generation of corporate real estate regulation,” originally appeared in FinancialDirector. It is republished by permission.

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Thack Brown

About Thack Brown

Thack Brown is general manager and global head for SAP’s Line of Business Finance. In this capacity, he is responsible for the full suite of SAP solutions for the Office of the CFO.

How Emotionally Aware Computing Can Bring Happiness to Your Organization

Christopher Koch


Do you feel me?

Just as once-novel voice recognition technology is now a ubiquitous part of human–machine relationships, so too could mood recognition technology (aka “affective computing”) soon pervade digital interactions.

Through the application of machine learning, Big Data inputs, image recognition, sensors, and in some cases robotics, artificially intelligent systems hunt for affective clues: widened eyes, quickened speech, and crossed arms, as well as heart rate or skin changes.




Emotions are big business

The global affective computing market is estimated to grow from just over US$9.3 billion a year in 2015 to more than $42.5 billion by 2020.

Source: “Affective Computing Market 2015 – Technology, Software, Hardware, Vertical, & Regional Forecasts to 2020 for the $42 Billion Industry” (Research and Markets, 2015)

Customer experience is the sweet spot

Forrester found that emotion was the number-one factor in determining customer loyalty in 17 out of the 18 industries it surveyed – far more important than the ease or effectiveness of customers’ interactions with a company.


Source: “You Can’t Afford to Overlook Your Customers’ Emotional Experience” (Forrester, 2015)


Humana gets an emotional clue

Source: “Artificial Intelligence Helps Humana Avoid Call Center Meltdowns” (The Wall Street Journal, October 27, 2016)

Insurer Humana uses artificial intelligence software that can detect conversational cues to guide call-center workers through difficult customer calls. The system recognizes that a steady rise in the pitch of a customer’s voice or instances of agent and customer talking over one another are causes for concern.

The system has led to hard results: Humana says it has seen an 28% improvement in customer satisfaction, a 63% improvement in agent engagement, and a 6% improvement in first-contact resolution.


Spread happiness across the organization

Source: “Happiness and Productivity” (University of Warwick, February 10, 2014)

Employers could monitor employee moods to make organizational adjustments that increase productivity, effectiveness, and satisfaction. Happy employees are around 12% more productive.




Walking on emotional eggshells

Whether customers and employees will be comfortable having their emotions logged and broadcast by companies is an open question. Customers may find some uses of affective computing creepy or, worse, predatory. Be sure to get their permission.


Other limiting factors

The availability of the data required to infer a person’s emotional state is still limited. Further, it can be difficult to capture all the physical cues that may be relevant to an interaction, such as facial expression, tone of voice, or posture.



Get a head start


Discover the data

Companies should determine what inferences about mental states they want the system to make and how accurately those inferences can be made using the inputs available.


Work with IT

Involve IT and engineering groups to figure out the challenges of integrating with existing systems for collecting, assimilating, and analyzing large volumes of emotional data.


Consider the complexity

Some emotions may be more difficult to discern or respond to. Context is also key. An emotionally aware machine would need to respond differently to frustration in a user in an educational setting than to frustration in a user in a vehicle.

 


 

download arrowTo learn more about how affective computing can help your organization, read the feature story Empathy: The Killer App for Artificial Intelligence.


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Christopher Koch

About Christopher Koch

Christopher Koch is the Editorial Director of the SAP Center for Business Insight. He is an experienced publishing professional, researcher, editor, and writer in business, technology, and B2B marketing. Share your thoughts with Chris on Twitter @Ckochster.

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Donuts, Content Management and Information Governance

Ina Felsheim

I was on vacation for two weeks, which was awesome, and my girls mainly wanted to do two things:

I had my own list of projects, too. The big one was installing glass tile on the kitchen backsplash. (Grout everywhere. That’s all I’m saying.)

After two weeks of glorious holiday, I sat down to take stock. The old technical writer in me came creeping out, and I began to count how many sets of instructions we followed over the course of the two weeks—more than 15, definitely. And the amazing thing? They were all right. Every. Last. One. From proper application of fabric paint to proper frying temperature for homemade donuts, to putting together a shoe rack that came in 20 pieces.

I’m pretty sure this wouldn’t have happened five years ago. The difference comes from an increased awareness in the importance of great user assistance. Without successful “use,” who’s going to evangelize your product?

Information Governance: Part of a Larger Food Pyramid

In EIM, we have a well-seasoned group of information developers. They apply information governance principles every day:

  • Create a single source of master information (in this case, product step-by-step instructions)
  • Manage versioning of master information (as product updates happen)
  • Survey end-users of the information to gauge quality, freshness, and applicability of master information
  • Establish master information Responsible, Accountable, Consulted, or Informed (RACI) models for owners, reviewers, and informed stakeholders.

Sometimes, we group this knowledge management work into other categories, like content management. However, information governance needs to also be inclusive of these activities; otherwise, how can we be successful? No one can live on donuts alone!

Does your information governance program include content management? Do you have comments about the quality of EIM user assistance (online help, PDFs, printed documentation, etc.)?

Comments

David Trites

About David Trites

David Trites is a Director of SAP Global Marketing. He is responsible for producing interesting and compelling customer stories that will humanize the SAP brand, support sales and marketing teams across SAP, and increase the awareness of SAP in key markets.

Tags:

awareness

Donuts, Content Management and Information Governance

Ina Felsheim

I was on vacation for two weeks, which was awesome, and my girls mainly wanted to do two things:

I had my own list of projects, too. The big one was installing glass tile on the kitchen backsplash. (Grout everywhere. That’s all I’m saying.)

After two weeks of glorious holiday, I sat down to take stock. The old technical writer in me came creeping out, and I began to count how many sets of instructions we followed over the course of the two weeks—more than 15, definitely. And the amazing thing? They were all right. Every. Last. One. From proper application of fabric paint to proper frying temperature for homemade donuts, to putting together a shoe rack that came in 20 pieces.

I’m pretty sure this wouldn’t have happened five years ago. The difference comes from an increased awareness in the importance of great user assistance. Without successful “use,” who’s going to evangelize your product?

Information Governance: Part of a Larger Food Pyramid

In EIM, we have a well-seasoned group of information developers. They apply information governance principles every day:

  • Create a single source of master information (in this case, product step-by-step instructions)
  • Manage versioning of master information (as product updates happen)
  • Survey end-users of the information to gauge quality, freshness, and applicability of master information
  • Establish master information Responsible, Accountable, Consulted, or Informed (RACI) models for owners, reviewers, and informed stakeholders.

Sometimes, we group this knowledge management work into other categories, like content management. However, information governance needs to also be inclusive of these activities; otherwise, how can we be successful? No one can live on donuts alone!

Does your information governance program include content management? Do you have comments about the quality of EIM user assistance (online help, PDFs, printed documentation, etc.)?

Comments

Harin Nanayakkaara

About Harin Nanayakkaara

Harin Nanayakkaara is part of attune’s leadership team and heads the global marketing, branding and communication efforts. He is passionate about technology and its role in shaping the fashion landscape, and has worked closely on delivering business value to clients such as Crocs and Brooks Brothers.

Tags:

awareness

Donuts, Content Management and Information Governance

Ina Felsheim

I was on vacation for two weeks, which was awesome, and my girls mainly wanted to do two things:

I had my own list of projects, too. The big one was installing glass tile on the kitchen backsplash. (Grout everywhere. That’s all I’m saying.)

After two weeks of glorious holiday, I sat down to take stock. The old technical writer in me came creeping out, and I began to count how many sets of instructions we followed over the course of the two weeks—more than 15, definitely. And the amazing thing? They were all right. Every. Last. One. From proper application of fabric paint to proper frying temperature for homemade donuts, to putting together a shoe rack that came in 20 pieces.

I’m pretty sure this wouldn’t have happened five years ago. The difference comes from an increased awareness in the importance of great user assistance. Without successful “use,” who’s going to evangelize your product?

Information Governance: Part of a Larger Food Pyramid

In EIM, we have a well-seasoned group of information developers. They apply information governance principles every day:

  • Create a single source of master information (in this case, product step-by-step instructions)
  • Manage versioning of master information (as product updates happen)
  • Survey end-users of the information to gauge quality, freshness, and applicability of master information
  • Establish master information Responsible, Accountable, Consulted, or Informed (RACI) models for owners, reviewers, and informed stakeholders.

Sometimes, we group this knowledge management work into other categories, like content management. However, information governance needs to also be inclusive of these activities; otherwise, how can we be successful? No one can live on donuts alone!

Does your information governance program include content management? Do you have comments about the quality of EIM user assistance (online help, PDFs, printed documentation, etc.)?

Comments

Brian Wasson

About Brian Wasson

Brian Wasson is the Director of Global Marketing & Communications at SAP. His specialties include strategic and hands-on experience in social media, website and intranet management, sustainability and CSR communications, public relations/media relations, employee (internal) communications, publication editing and management, and direct marketing.

Tags:

awareness

Donuts, Content Management and Information Governance

Ina Felsheim

I was on vacation for two weeks, which was awesome, and my girls mainly wanted to do two things:

I had my own list of projects, too. The big one was installing glass tile on the kitchen backsplash. (Grout everywhere. That’s all I’m saying.)

After two weeks of glorious holiday, I sat down to take stock. The old technical writer in me came creeping out, and I began to count how many sets of instructions we followed over the course of the two weeks—more than 15, definitely. And the amazing thing? They were all right. Every. Last. One. From proper application of fabric paint to proper frying temperature for homemade donuts, to putting together a shoe rack that came in 20 pieces.

I’m pretty sure this wouldn’t have happened five years ago. The difference comes from an increased awareness in the importance of great user assistance. Without successful “use,” who’s going to evangelize your product?

Information Governance: Part of a Larger Food Pyramid

In EIM, we have a well-seasoned group of information developers. They apply information governance principles every day:

  • Create a single source of master information (in this case, product step-by-step instructions)
  • Manage versioning of master information (as product updates happen)
  • Survey end-users of the information to gauge quality, freshness, and applicability of master information
  • Establish master information Responsible, Accountable, Consulted, or Informed (RACI) models for owners, reviewers, and informed stakeholders.

Sometimes, we group this knowledge management work into other categories, like content management. However, information governance needs to also be inclusive of these activities; otherwise, how can we be successful? No one can live on donuts alone!

Does your information governance program include content management? Do you have comments about the quality of EIM user assistance (online help, PDFs, printed documentation, etc.)?

Comments

Tiffany Rowe

About Tiffany Rowe

Tiffany Rowe is a marketing administrator who assists in contributing resourceful content. Tiffany prides herself in her ability to provide high-quality content that readers will find valuable.

Tags:

awareness

Donuts, Content Management and Information Governance

Ina Felsheim

I was on vacation for two weeks, which was awesome, and my girls mainly wanted to do two things:

I had my own list of projects, too. The big one was installing glass tile on the kitchen backsplash. (Grout everywhere. That’s all I’m saying.)

After two weeks of glorious holiday, I sat down to take stock. The old technical writer in me came creeping out, and I began to count how many sets of instructions we followed over the course of the two weeks—more than 15, definitely. And the amazing thing? They were all right. Every. Last. One. From proper application of fabric paint to proper frying temperature for homemade donuts, to putting together a shoe rack that came in 20 pieces.

I’m pretty sure this wouldn’t have happened five years ago. The difference comes from an increased awareness in the importance of great user assistance. Without successful “use,” who’s going to evangelize your product?

Information Governance: Part of a Larger Food Pyramid

In EIM, we have a well-seasoned group of information developers. They apply information governance principles every day:

  • Create a single source of master information (in this case, product step-by-step instructions)
  • Manage versioning of master information (as product updates happen)
  • Survey end-users of the information to gauge quality, freshness, and applicability of master information
  • Establish master information Responsible, Accountable, Consulted, or Informed (RACI) models for owners, reviewers, and informed stakeholders.

Sometimes, we group this knowledge management work into other categories, like content management. However, information governance needs to also be inclusive of these activities; otherwise, how can we be successful? No one can live on donuts alone!

Does your information governance program include content management? Do you have comments about the quality of EIM user assistance (online help, PDFs, printed documentation, etc.)?

Comments

Tracy Vides

About Tracy Vides

Tracy is a content marketer and social media consultant who works with small businesses and startups to increase their visibility. Although new to the digital marketing scene, Tracy has started off well by building a good reputation for herself, with posts featured on Steamfeed, Business 2 Community and elsewhere. Hit her up @TracyVides on Twitter.

Tags:

awareness

Donuts, Content Management and Information Governance

Ina Felsheim

I was on vacation for two weeks, which was awesome, and my girls mainly wanted to do two things:

I had my own list of projects, too. The big one was installing glass tile on the kitchen backsplash. (Grout everywhere. That’s all I’m saying.)

After two weeks of glorious holiday, I sat down to take stock. The old technical writer in me came creeping out, and I began to count how many sets of instructions we followed over the course of the two weeks—more than 15, definitely. And the amazing thing? They were all right. Every. Last. One. From proper application of fabric paint to proper frying temperature for homemade donuts, to putting together a shoe rack that came in 20 pieces.

I’m pretty sure this wouldn’t have happened five years ago. The difference comes from an increased awareness in the importance of great user assistance. Without successful “use,” who’s going to evangelize your product?

Information Governance: Part of a Larger Food Pyramid

In EIM, we have a well-seasoned group of information developers. They apply information governance principles every day:

  • Create a single source of master information (in this case, product step-by-step instructions)
  • Manage versioning of master information (as product updates happen)
  • Survey end-users of the information to gauge quality, freshness, and applicability of master information
  • Establish master information Responsible, Accountable, Consulted, or Informed (RACI) models for owners, reviewers, and informed stakeholders.

Sometimes, we group this knowledge management work into other categories, like content management. However, information governance needs to also be inclusive of these activities; otherwise, how can we be successful? No one can live on donuts alone!

Does your information governance program include content management? Do you have comments about the quality of EIM user assistance (online help, PDFs, printed documentation, etc.)?

Comments

Michael Brenner

About Michael Brenner

Michael Brenner is a globally-recognized keynote speaker, author of  The Content Formula and the CEO of Marketing Insider GroupHe has worked in leadership positions in sales and marketing for global brands like SAP and Nielsen, as well as for thriving startups. Today, Michael shares his passion on leadership and marketing strategies that deliver customer value and business impact. He is recognized by the Huffington Post as a Top Business Keynote Speaker and   a top  CMO influencer by Forbes.

Tags:

awareness

Donuts, Content Management and Information Governance

Ina Felsheim

I was on vacation for two weeks, which was awesome, and my girls mainly wanted to do two things:

I had my own list of projects, too. The big one was installing glass tile on the kitchen backsplash. (Grout everywhere. That’s all I’m saying.)

After two weeks of glorious holiday, I sat down to take stock. The old technical writer in me came creeping out, and I began to count how many sets of instructions we followed over the course of the two weeks—more than 15, definitely. And the amazing thing? They were all right. Every. Last. One. From proper application of fabric paint to proper frying temperature for homemade donuts, to putting together a shoe rack that came in 20 pieces.

I’m pretty sure this wouldn’t have happened five years ago. The difference comes from an increased awareness in the importance of great user assistance. Without successful “use,” who’s going to evangelize your product?

Information Governance: Part of a Larger Food Pyramid

In EIM, we have a well-seasoned group of information developers. They apply information governance principles every day:

  • Create a single source of master information (in this case, product step-by-step instructions)
  • Manage versioning of master information (as product updates happen)
  • Survey end-users of the information to gauge quality, freshness, and applicability of master information
  • Establish master information Responsible, Accountable, Consulted, or Informed (RACI) models for owners, reviewers, and informed stakeholders.

Sometimes, we group this knowledge management work into other categories, like content management. However, information governance needs to also be inclusive of these activities; otherwise, how can we be successful? No one can live on donuts alone!

Does your information governance program include content management? Do you have comments about the quality of EIM user assistance (online help, PDFs, printed documentation, etc.)?

Comments

Jim Cook

About Jim Cook

Jim Cook is the Industry Advisor for consumer industries in South East Asia, with over 20 years’ experience of IT and business consulting. He has held various roles from solution architect, project and program management, business development as well as managing an SAP partner organisation. Jim is passionate about transformation within consumer driven organisations. Jim is particular interested in customer engagement solutions and the value that can be achieved from end to end SAP deployments.

Tags:

awareness

Donuts, Content Management and Information Governance

Ina Felsheim

I was on vacation for two weeks, which was awesome, and my girls mainly wanted to do two things:

I had my own list of projects, too. The big one was installing glass tile on the kitchen backsplash. (Grout everywhere. That’s all I’m saying.)

After two weeks of glorious holiday, I sat down to take stock. The old technical writer in me came creeping out, and I began to count how many sets of instructions we followed over the course of the two weeks—more than 15, definitely. And the amazing thing? They were all right. Every. Last. One. From proper application of fabric paint to proper frying temperature for homemade donuts, to putting together a shoe rack that came in 20 pieces.

I’m pretty sure this wouldn’t have happened five years ago. The difference comes from an increased awareness in the importance of great user assistance. Without successful “use,” who’s going to evangelize your product?

Information Governance: Part of a Larger Food Pyramid

In EIM, we have a well-seasoned group of information developers. They apply information governance principles every day:

  • Create a single source of master information (in this case, product step-by-step instructions)
  • Manage versioning of master information (as product updates happen)
  • Survey end-users of the information to gauge quality, freshness, and applicability of master information
  • Establish master information Responsible, Accountable, Consulted, or Informed (RACI) models for owners, reviewers, and informed stakeholders.

Sometimes, we group this knowledge management work into other categories, like content management. However, information governance needs to also be inclusive of these activities; otherwise, how can we be successful? No one can live on donuts alone!

Does your information governance program include content management? Do you have comments about the quality of EIM user assistance (online help, PDFs, printed documentation, etc.)?

Comments

Elizabeth Milne

About Elizabeth Milne

Elizabeth Milne has over 20 years of experience improving the software solutions for multi-national, multi-billion dollar organizations. Her finance career began working at Walt Disney, then Warner Bros. in the areas of financial consolidation, budgeting, and financial reporting. She subsequently moved to the software industry and has held positions including implementation consultant and manager, account executive, pre-sales consultant, solution management team at SAP, Business Objects and Cartesis. She graduated with an Executive MBA from Northwestern University’s Kellogg Graduate School of Management. In 2014 she published her first book “Accelerated Financial Closing with SAP.” She currently manages the accounting and financial close portfolio for SAP Product Marketing. You can follow her on twitter @ElizabethEMilne

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awareness

Donuts, Content Management and Information Governance

Ina Felsheim

I was on vacation for two weeks, which was awesome, and my girls mainly wanted to do two things:

I had my own list of projects, too. The big one was installing glass tile on the kitchen backsplash. (Grout everywhere. That’s all I’m saying.)

After two weeks of glorious holiday, I sat down to take stock. The old technical writer in me came creeping out, and I began to count how many sets of instructions we followed over the course of the two weeks—more than 15, definitely. And the amazing thing? They were all right. Every. Last. One. From proper application of fabric paint to proper frying temperature for homemade donuts, to putting together a shoe rack that came in 20 pieces.

I’m pretty sure this wouldn’t have happened five years ago. The difference comes from an increased awareness in the importance of great user assistance. Without successful “use,” who’s going to evangelize your product?

Information Governance: Part of a Larger Food Pyramid

In EIM, we have a well-seasoned group of information developers. They apply information governance principles every day:

  • Create a single source of master information (in this case, product step-by-step instructions)
  • Manage versioning of master information (as product updates happen)
  • Survey end-users of the information to gauge quality, freshness, and applicability of master information
  • Establish master information Responsible, Accountable, Consulted, or Informed (RACI) models for owners, reviewers, and informed stakeholders.

Sometimes, we group this knowledge management work into other categories, like content management. However, information governance needs to also be inclusive of these activities; otherwise, how can we be successful? No one can live on donuts alone!

Does your information governance program include content management? Do you have comments about the quality of EIM user assistance (online help, PDFs, printed documentation, etc.)?

Comments

Tags:

awareness

Donuts, Content Management and Information Governance

Ina Felsheim

I was on vacation for two weeks, which was awesome, and my girls mainly wanted to do two things:

I had my own list of projects, too. The big one was installing glass tile on the kitchen backsplash. (Grout everywhere. That’s all I’m saying.)

After two weeks of glorious holiday, I sat down to take stock. The old technical writer in me came creeping out, and I began to count how many sets of instructions we followed over the course of the two weeks—more than 15, definitely. And the amazing thing? They were all right. Every. Last. One. From proper application of fabric paint to proper frying temperature for homemade donuts, to putting together a shoe rack that came in 20 pieces.

I’m pretty sure this wouldn’t have happened five years ago. The difference comes from an increased awareness in the importance of great user assistance. Without successful “use,” who’s going to evangelize your product?

Information Governance: Part of a Larger Food Pyramid

In EIM, we have a well-seasoned group of information developers. They apply information governance principles every day:

  • Create a single source of master information (in this case, product step-by-step instructions)
  • Manage versioning of master information (as product updates happen)
  • Survey end-users of the information to gauge quality, freshness, and applicability of master information
  • Establish master information Responsible, Accountable, Consulted, or Informed (RACI) models for owners, reviewers, and informed stakeholders.

Sometimes, we group this knowledge management work into other categories, like content management. However, information governance needs to also be inclusive of these activities; otherwise, how can we be successful? No one can live on donuts alone!

Does your information governance program include content management? Do you have comments about the quality of EIM user assistance (online help, PDFs, printed documentation, etc.)?

Comments

Tags:

awareness