Most organizations use a variety of different tools to manage their back office processes. These may include ERP, CRM, HR, Payroll, Billing, and more. All of these systems, in one way or another, act as repositories for financial transactions and other valuable business data, and most organizations do not have any integration between these systems.

Technology that does not work together can cause a number of problems, such as:

• Siloed data
• Time wasted via duplicate data entry between systems
• Complex offline data manipulation to facilitate export/import integration
• Lack of ability to consistently reconcile data between systems

As organizations grow and management reporting requirements become more sophisticated, the finance department will need ways to become more efficient. Furthermore, regulatory changes are requiring finance teams to take a more holistic view of financial results in the context of operational data.