The previous generation of fixed-function technology constrains solutions to vertical slices, each dedicated to a single business function and serving a narrow user group.
- Each vertical application manages its own data, creating a data silo into which other applications can't see, limiting data visibility across the firm.
- Internally, there is little or no separation of business-specific elements from other elements that are present for engineering reasons, making it difficult to adapt to specific needs within the firm, and evolving regulatory practice.
- Vertical applications copy data among themselves, leading to internal reconciliation and uncertainty about the golden copy.
- Assumptions about business workflow are built into the applications and mandated by the limits of their internal dataflows, inhibiting the workflow changes that are often forced by new regulation.
Previous-generation solutions perpetuate limitations from the 1990s that no longer make sense in a faster-paced world.
- large, expensive, risky implementation projects
- systems that aren't nimble enough to accommodate the accelerating pace of change
- many business areas under-supported with IT because of limited resources
- the need to integrate many disparate systems to create a full solution
- siloed solutions dividing visibility by business function
- data flow between systems forcing business work flow to match it
- integration costs rising combinatorially as systems are added
- backward-looking T+1 accounting practices dominate
- everything hard-wired, limited and difficult to change
Spreadsheets are still in use because they reflect the present-day necessity of flexibility, even if they do create their own risks and stifle workflow.
Technology improvements let us re-evaluate present day needs to create a new generation of finance technology.
- separate core concepts from business-specifics
- use spreadsheet formulas to describe information, relationships and processing, avoiding the IT bottleneck and enabling rapid, high-quality bespoke solutions
- execute formulas on a robust business transaction processing engine
- store data in a next-generation database that supports historical views, audit trails and other advanced features the whole platform can benefit from
- cross-cut business silos, bringing them onto a shared platform for instant, secure, shared visibility
- add rich timeseries support for forward-looking projections of whatever numbers matter to you
- capture, store and report on whatever data makes sense for you
- model assets physical, cash, exposure and other behaviours to whatever level of detail you need using formulas
Our technology innovations
Lighter-weight, faster, more adaptable core technology, with spreadsheet formula-based business rules and an ecosystem of add-on products.Learn more