Here are four reasons why Jedox is trusted by more than 2,500 organisations globally.
Performance management across the value chain
The purpose of classic Financial Planning and Analysis (FP&A) solutions is to support controlling processes in the finance department. Typical areas are the mapping of the P&L, balance sheet and cash flow statement as well as the monetary linking of adjacent processes, for example, sales and cost planning as well as investment and financing.
In a global business environment, however, corporate controlling solely from the financial perspective is no longer sufficient. In order to be able to act quickly, financial changes or impacts must be able to be linked to the underlying operational processes and drivers in order to understand, measure and control the long term success of the organisation. More recently, this evolution from financial planning and analysis to any number of departments across the organisation has become known as xP&A.
Jedox is an ideal xP&A platform due to its unique flexibility and scalability. While numerous planning solutions on the market achieve only the integration of operational and financial data by linking less flexible, ready-made solutions with platform products that can be modelled, Jedox avoids this rigidity. This enables a seamless mapping of operational processes and their financial implications in a unified process.
For users, this means:
- faster access to relevant information;
- less complexity;
- more consistency; and
- improved holistic management of the company.
AI help for corporate management
Digital transformation and artificial intelligence are the buzzwords of an entire generation, and for good reason. Within Enterprise Performance Management there is no shortage of studies, whitepapers, pilot projects, and concepts. But when you leave the research lab and seek out tested and effective AI-supported solutions, a few things become clear. Jedox is one of the few EPM solutions on the market where AI and machine learning are already integrated into the performance management platform in a way that is both approachable and suitable for business users.
Jedox AIssisted™ Planning supports, among other things, in better preparing your data for analysis in making more accurate forecasts (e.g. identification of value drivers and development of driver-based planning models), or in identifying unique customer trends for greater performance optimisation. And all of this is done without needing specialised Data Scientists to support your enterprise performance management.
Step-by-step with measurable benefits
The day-to-day reality for organisations and the technical possibilities of modern Enterprise Performance Management solutions are often worlds apart. In many organisations the handling of manual, error-prone and often Excel-based planning and forecasting processes is still prevalent. On the other hand, there is the vision of fully integrated, AI-based performance management solutions that help finance departments to better fulfil their role as business partners who can optimise value creation.
The problem is often how to get there: While numerous, often heavily prefabricated FP&A solutions offer quick success in eliminating spreadsheet chaos, these systems often reach their limits when you leave the prefabricated solution environment. There are also highly functional performance management suites. Often these have grown together over many years through the integration of various specialty tools into more complex solutions. Their implementation is usually lengthy, complex and expensive.
With the Jedox solution you get the best of both worlds:
- The lightweight solution architecture enables you to achieve success in days instead of weeks;
- Old Excel solutions can often be easily converted into automated FP&A solutions;
- The unrivalled flexibility of Jedox allows you to easily expand to integrated xP&A; and
- The AIssisted Planning functionalities support the step-by-step expansion to continuous performance management.
Minimising disadvantages of Excel
For more than 20 years, numerous industry experts and analysts have been predicting that Excel will be replaced by performance management solutions as a planning tool for organisations. But reality has proven different: Studies confirm again and again that approximately 80 per cent of organisations are still reliant on Excel for their budgeting, planning, and forecasting.
The reasons for this are simple: Excel remains the de facto standard for self-service performance management: users can quickly, cost effectively and independently conduct their budgeting, planning, and forecasting, and, if necessary, adapt just as easily and quickly to changes. At the same time, however, the disadvantages of Excel are unavoidable: prone to errors, time-consuming, do not meet modern data security and compliance standards, and often become simply unmaintainable over time.
The Excel+ philosophy has guided Jedox since its foundation: To eliminate the disadvantages without losing the advantages. The Jedox solution offers a powerful native Excel integration in addition to the Jedox Web and mobile applications. But the compatibility goes much further: Existing Excel solutions can easily be transferred to Jedox Web and mobile applications. The functional scope of Jedox is designed so that business users can still work in an Excel environment if they desire and avoid the problems.
Here are some examples:
- With the in-memory database, local data storage can be avoided – redundancies, data security and compliance are no longer a problem;
- Rigid columns and row structures in Excel sheets can be optimised to let the data lead the way; and
- Calculation formulas do not have to be defined in countless cells, but only once centrally at the database level.
The Jedox solution allows users across the organisation to work in Excel effortlessly if they prefer and design their own custom, sophisticated performance management solutions with minimal learning time if that option best suits their organisation. The FP&A of yesterday fully evolves to xP&A to support optimising value creation with unrivalled flexibility.
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