This episode features an interview with Andrew Dailey, Managing Director with MGI Research.
In this episode, Andrew shares why real change only happens when an organization has strong leaders, the importance of data quality and the timeliness of data, and how inflation is impacting organizations today. Andrew also speaks into why he believes critical thinking is king and how he’s actively working to help companies evolve well in a time of constant and fast paced change.
Key Takeaways:
- Prospect to disclosure isn’t a linear process, it's a cycle: The concept of order to cash was seen as a linear process in the 80's when systems were different. Now, they’re outdated.
- Agile monetization: rethinking or recasting how organizations monetize and all the systems and processes involved. Currently, this is where a lot of companies are investing and where change is happening. It’s at the core of every company.
- Data cleanliness and quality are key: No one owns data cleanliness or quality and yet it’s very difficult to generate profitability analysis without these elements. Clean up your data, utilize it, and make it better.
- Evolving monolithic ERP systems: In order to evolve, first, you have to understand your business by asking questions like - What industry are you in? What’s the maturity of your company? What’s the art of the possible vs the theoretical?
- Change is a muscle that must be built: Adopting and adapting on a frequent basis allows companies to future proof their company’s stability in the market. It’s time for companies to embrace innovation when it comes to packaging, pricing and the journey into automating processes to create a frictionless experience internally and externally. Constant change is the new normal and the pace of change is accelerating. To keep up, automation must be part of your company’s strategy.
Segment Timestamps:
*(03:00) - Off the Ledger
*(20:25) - General Ledger
*(29:50) - The Future of Revenue Accounting
Links:
Sponsor:
Zuora’s Modern Accounting Summit: If you are an accounting or finance leader looking to learn from the best and elevate your role in the organization, this virtual Summit is for you!
Join us live to hear from modern CAOs and controllers, as well as the top experts from EY, PwC, and Deloitte. Together, we’ll explore what modern accounting looks like today and where it’s headed in the future. If you are unable to attend live, you can watch the event on-demand using the link below.
When: September 12 2023 at 09:00 AM – 11:00 AM PDT
Where: Learn more, register, or watch on-demand here.
Check out additional resources for this episode:
>> Connect with Em Daigle on LinkedIn
