Weathering the Storm Part 12: Data Analytics & AI: Machine Learning

  |  June 4, 2020

two people looking over data

In this post on Data Analytics & AI, we introduce the use of machine learning (ML) in forecasting. Traditionally, forecasting techniques like linear regression, moving average and trends have been used to understand and predict business performance using limited sets of (primarily) internal business metrics which are often based on lagging indicators. However, today’s climate... Read More

Weathering the Storm Part 11: Data Analytics & AI – Automation

  |  June 4, 2020

image of two people reviewing documents with data

In part 2 of our series on Data Analytics & AI, we dive deeper into a technology known as robotic process automation (RPA) – it is disrupting Internal Audit, Finance and Accounting. RPA is a form of business process automation that uses software “bots” to automate high-volume, repetitive tasks enabling heightened productivity by streamlining lower... Read More

Weathering the Storm Part 10: Data Analytics & AI: An Introduction

  |  June 4, 2020

image of a hand holding a pen and reviewing a page with graphs on it

The scale of business disruption caused by COVID-19is unprecedented. But adversity often acts as a catalyst and accelerator for change. The adoption of software tools to access data and theuse of AI by businesses is already well underway—in a survey conducted by The Economist, 75% of executives said “AI will be ‘actively implemented’ in companies... Read More

Weathering the Storm Part 9: Detailed Cash Availability Actions Steps

  |  June 4, 2020

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The Covid19 pandemic has introduced a variety of challenges across corporate organizations. Crisis-mode has hit many small and mid-sized businesses. Active management of every invoice, sales order, and payroll must take place to ensure liquidity and maintain viability. Cash-impacting actions should be a part of the daily routine in today’s “new normal” including: Cut non-critical... Read More

Weathering the Storm Part 8: Lease Considerations

  |  June 4, 2020

image of a five-story office building

One area that has been heavily impacted by the crisis is the ability of companies to make lease payments. Here are some tips: Concessions – Companies may see concessions in their leases in the form of payment deferrals, change in the lease term or full or partial payment forgiveness. Companies should evaluate the lease contract as well... Read More

Weathering the Storm Part 7: Accounting & Reporting for the Quarter

  |  June 3, 2020

As companies navigate this crisis during their current reporting quarter, here are some accounting and disclosure topics to keep in mind: Impairment: consider any trigger events for impairment affecting assumptions in your FV models related to long-lived assets, goodwill and other intangible assets Revenue: consider updating estimates for changes in variable consideration & collectability Insurance... Read More