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GDPR: What are the priorities for the IT department?

Antony Reynolds - Mon, 2018-05-21 05:46

All too often it is assumed that GDPR compliance is ‘IT’s problem’ because having your personal data and technology in order are such vital parts of it. But compliance must be an organisation-wide commitment. No individual or single department can make an organisation compliant. However, in planning discussions around GDPR compliance, there are clear areas where IT can add significant value.

 

1. Be a data champion

The potential value of data to organisations is increasing all the time, but many departments, business units and even board members may not realise how much data they have access to, where it resides, how it is created, how it could be used and how it is protected. The IT department can play a clear role in helping organisations understand why data, and by extension GDPR, is so important in order to realise the value of such data and how to use and protect it.

 

2. Ensure data security

GDPR considers protection of personal data a fundamental human right. Organisations need to ensure they understand what personal data they have access to and put in place appropriate protective measures. IT has a role to play in working with the organisation to assess security risks and ensure that appropriate protective measures, such as encryption, access controls, attack prevention and detection are in place.

 

3. Help the organisation be responsive

GDPR requires organisations to not only protect personal data but also respond to requests from individuals who, among others, want to amend or delete data held on them. That means that the personal data must be collected, collated and structured in a way that enables effective and reliable control over all personal data. This means breaking down internal silos and ensuring an organisation has a clear view of its processing activities with regard to personal data.

 

4. Identify the best tools for the job

GDPR compliance is as much about process, culture and planning as it is about technology. However, there are products available which can help organisations with key elements of GDPR compliance, such as data management, security and the automated enforcement of security measures. Advances in automation and artificial intelligence mean many tools offer a level of proactivity and scalability which don’t lessen the responsibility upon people within the organisation, but can reduce the workload and put in place an approach which can evolve with changing compliance requirements.

 

5. See the potential

An improved approach to security and compliance management, fit for the digital economy, can give organisations the confidence to unlock the full potential of their data. If data is more secure, better ordered and easier to make sense of, it stands to reason an organisation can do more with it. It may be tempting to see GDPR as an unwelcome chore. It should however be borne in mind that it is also an opportunity to seek differentiation and greater value, to build new data-driven business models, confident in the knowledge that the data is being used in a compliant way.  Giving consumers the confidence to share their data is also good for businesses.

 

The IT department will know better than most how the full value of data can be unlocked and can help businesses pull away from seeing GDPR as a cost of doing business and start seeing it as an opportunity to do business better.

GDPR: What are the priorities for the IT department?

Antonio Romero - Mon, 2018-05-21 05:46

All too often it is assumed that GDPR compliance is ‘IT’s problem’ because having your personal data and technology in order are such vital parts of it. But compliance must be an organisation-wide commitment. No individual or single department can make an organisation compliant. However, in planning discussions around GDPR compliance, there are clear areas where IT can add significant value.

 

1. Be a data champion

The potential value of data to organisations is increasing all the time, but many departments, business units and even board members may not realise how much data they have access to, where it resides, how it is created, how it could be used and how it is protected. The IT department can play a clear role in helping organisations understand why data, and by extension GDPR, is so important in order to realise the value of such data and how to use and protect it.

 

2. Ensure data security

GDPR considers protection of personal data a fundamental human right. Organisations need to ensure they understand what personal data they have access to and put in place appropriate protective measures. IT has a role to play in working with the organisation to assess security risks and ensure that appropriate protective measures, such as encryption, access controls, attack prevention and detection are in place.

 

3. Help the organisation be responsive

GDPR requires organisations to not only protect personal data but also respond to requests from individuals who, among others, want to amend or delete data held on them. That means that the personal data must be collected, collated and structured in a way that enables effective and reliable control over all personal data. This means breaking down internal silos and ensuring an organisation has a clear view of its processing activities with regard to personal data.

 

4. Identify the best tools for the job

GDPR compliance is as much about process, culture and planning as it is about technology. However, there are products available which can help organisations with key elements of GDPR compliance, such as data management, security and the automated enforcement of security measures. Advances in automation and artificial intelligence mean many tools offer a level of proactivity and scalability which don’t lessen the responsibility upon people within the organisation, but can reduce the workload and put in place an approach which can evolve with changing compliance requirements.

 

5. See the potential

An improved approach to security and compliance management, fit for the digital economy, can give organisations the confidence to unlock the full potential of their data. If data is more secure, better ordered and easier to make sense of, it stands to reason an organisation can do more with it. It may be tempting to see GDPR as an unwelcome chore. It should however be borne in mind that it is also an opportunity to seek differentiation and greater value, to build new data-driven business models, confident in the knowledge that the data is being used in a compliant way.  Giving consumers the confidence to share their data is also good for businesses.

 

The IT department will know better than most how the full value of data can be unlocked and can help businesses pull away from seeing GDPR as a cost of doing business and start seeing it as an opportunity to do business better.

GDPR: What are the priorities for the IT department?

Anthony Shorten - Mon, 2018-05-21 05:46

All too often it is assumed that GDPR compliance is ‘IT’s problem’ because having your personal data and technology in order are such vital parts of it. But compliance must be an organisation-wide commitment. No individual or single department can make an organisation compliant. However, in planning discussions around GDPR compliance, there are clear areas where IT can add significant value.

 

1. Be a data champion

The potential value of data to organisations is increasing all the time, but many departments, business units and even board members may not realise how much data they have access to, where it resides, how it is created, how it could be used and how it is protected. The IT department can play a clear role in helping organisations understand why data, and by extension GDPR, is so important in order to realise the value of such data and how to use and protect it.

 

2. Ensure data security

GDPR considers protection of personal data a fundamental human right. Organisations need to ensure they understand what personal data they have access to and put in place appropriate protective measures. IT has a role to play in working with the organisation to assess security risks and ensure that appropriate protective measures, such as encryption, access controls, attack prevention and detection are in place.

 

3. Help the organisation be responsive

GDPR requires organisations to not only protect personal data but also respond to requests from individuals who, among others, want to amend or delete data held on them. That means that the personal data must be collected, collated and structured in a way that enables effective and reliable control over all personal data. This means breaking down internal silos and ensuring an organisation has a clear view of its processing activities with regard to personal data.

 

4. Identify the best tools for the job

GDPR compliance is as much about process, culture and planning as it is about technology. However, there are products available which can help organisations with key elements of GDPR compliance, such as data management, security and the automated enforcement of security measures. Advances in automation and artificial intelligence mean many tools offer a level of proactivity and scalability which don’t lessen the responsibility upon people within the organisation, but can reduce the workload and put in place an approach which can evolve with changing compliance requirements.

 

5. See the potential

An improved approach to security and compliance management, fit for the digital economy, can give organisations the confidence to unlock the full potential of their data. If data is more secure, better ordered and easier to make sense of, it stands to reason an organisation can do more with it. It may be tempting to see GDPR as an unwelcome chore. It should however be borne in mind that it is also an opportunity to seek differentiation and greater value, to build new data-driven business models, confident in the knowledge that the data is being used in a compliant way.  Giving consumers the confidence to share their data is also good for businesses.

 

The IT department will know better than most how the full value of data can be unlocked and can help businesses pull away from seeing GDPR as a cost of doing business and start seeing it as an opportunity to do business better.

GDPR: What are the priorities for the IT department?

Anshu Sharma - Mon, 2018-05-21 05:46

All too often it is assumed that GDPR compliance is ‘IT’s problem’ because having your personal data and technology in order are such vital parts of it. But compliance must be an organisation-wide commitment. No individual or single department can make an organisation compliant. However, in planning discussions around GDPR compliance, there are clear areas where IT can add significant value.

 

1. Be a data champion

The potential value of data to organisations is increasing all the time, but many departments, business units and even board members may not realise how much data they have access to, where it resides, how it is created, how it could be used and how it is protected. The IT department can play a clear role in helping organisations understand why data, and by extension GDPR, is so important in order to realise the value of such data and how to use and protect it.

 

2. Ensure data security

GDPR considers protection of personal data a fundamental human right. Organisations need to ensure they understand what personal data they have access to and put in place appropriate protective measures. IT has a role to play in working with the organisation to assess security risks and ensure that appropriate protective measures, such as encryption, access controls, attack prevention and detection are in place.

 

3. Help the organisation be responsive

GDPR requires organisations to not only protect personal data but also respond to requests from individuals who, among others, want to amend or delete data held on them. That means that the personal data must be collected, collated and structured in a way that enables effective and reliable control over all personal data. This means breaking down internal silos and ensuring an organisation has a clear view of its processing activities with regard to personal data.

 

4. Identify the best tools for the job

GDPR compliance is as much about process, culture and planning as it is about technology. However, there are products available which can help organisations with key elements of GDPR compliance, such as data management, security and the automated enforcement of security measures. Advances in automation and artificial intelligence mean many tools offer a level of proactivity and scalability which don’t lessen the responsibility upon people within the organisation, but can reduce the workload and put in place an approach which can evolve with changing compliance requirements.

 

5. See the potential

An improved approach to security and compliance management, fit for the digital economy, can give organisations the confidence to unlock the full potential of their data. If data is more secure, better ordered and easier to make sense of, it stands to reason an organisation can do more with it. It may be tempting to see GDPR as an unwelcome chore. It should however be borne in mind that it is also an opportunity to seek differentiation and greater value, to build new data-driven business models, confident in the knowledge that the data is being used in a compliant way.  Giving consumers the confidence to share their data is also good for businesses.

 

The IT department will know better than most how the full value of data can be unlocked and can help businesses pull away from seeing GDPR as a cost of doing business and start seeing it as an opportunity to do business better.

GDPR: What are the priorities for the IT department?

Angelo Santagata - Mon, 2018-05-21 05:46

All too often it is assumed that GDPR compliance is ‘IT’s problem’ because having your personal data and technology in order are such vital parts of it. But compliance must be an organisation-wide commitment. No individual or single department can make an organisation compliant. However, in planning discussions around GDPR compliance, there are clear areas where IT can add significant value.

 

1. Be a data champion

The potential value of data to organisations is increasing all the time, but many departments, business units and even board members may not realise how much data they have access to, where it resides, how it is created, how it could be used and how it is protected. The IT department can play a clear role in helping organisations understand why data, and by extension GDPR, is so important in order to realise the value of such data and how to use and protect it.

 

2. Ensure data security

GDPR considers protection of personal data a fundamental human right. Organisations need to ensure they understand what personal data they have access to and put in place appropriate protective measures. IT has a role to play in working with the organisation to assess security risks and ensure that appropriate protective measures, such as encryption, access controls, attack prevention and detection are in place.

 

3. Help the organisation be responsive

GDPR requires organisations to not only protect personal data but also respond to requests from individuals who, among others, want to amend or delete data held on them. That means that the personal data must be collected, collated and structured in a way that enables effective and reliable control over all personal data. This means breaking down internal silos and ensuring an organisation has a clear view of its processing activities with regard to personal data.

 

4. Identify the best tools for the job

GDPR compliance is as much about process, culture and planning as it is about technology. However, there are products available which can help organisations with key elements of GDPR compliance, such as data management, security and the automated enforcement of security measures. Advances in automation and artificial intelligence mean many tools offer a level of proactivity and scalability which don’t lessen the responsibility upon people within the organisation, but can reduce the workload and put in place an approach which can evolve with changing compliance requirements.

 

5. See the potential

An improved approach to security and compliance management, fit for the digital economy, can give organisations the confidence to unlock the full potential of their data. If data is more secure, better ordered and easier to make sense of, it stands to reason an organisation can do more with it. It may be tempting to see GDPR as an unwelcome chore. It should however be borne in mind that it is also an opportunity to seek differentiation and greater value, to build new data-driven business models, confident in the knowledge that the data is being used in a compliant way.  Giving consumers the confidence to share their data is also good for businesses.

 

The IT department will know better than most how the full value of data can be unlocked and can help businesses pull away from seeing GDPR as a cost of doing business and start seeing it as an opportunity to do business better.

Autonomous: A New Lens for Analytics

Christopher Jones - Mon, 2018-05-21 05:45

Welcome to the era of intelligent, self-driving software. Just as self-driving vehicles are set to transform motoring, self-driving software promises to transform our productivity, and strengthen our analytical abilities.

Perhaps you drive an automatic car today—how much are you looking forward to the day your car will automatically drive you? And how much more preferable would smoother, less time-consuming journeys be—always via the best route, with fewer hold-ups, and automatically avoiding unexpected road congestion—where you only have to input your destination? The technology is almost here, and similar advances are driving modern business applications.

AI and machine learning are finally coming of age thanks to the recent advances in big data that created—for the first time—data sets that were large enough for computers to draw inferences and learn from. That, along with years of SaaS application development in cloud computing environments, means that autonomous technology—harnessing both AI and business intelligence—is now fuelling self-driving software… for both cars and cloud applications.

 

Autonomy—beyond automation

Automation has, of course, been around for years. But autonomy—running on AI and machine learning—takes it to new levels. Today’s software is truly self-driving—it eliminates the need for humans to provision, secure, monitor, back-up, recover, troubleshoot or tune. It upgrades and patches itself, and automatically applies security updates, all while running normally. Indeed, an autonomous data warehouse, for example, can reduce administration overheads by up to 80%.

 

Intelligent thinking

But the greatest value is perhaps in what AI enables you to discover from your data. When applied to analytics, it can identify patterns in huge data sets that might otherwise go unnoticed. So, for example, you could apply AI to sales data to identify trends—who bought what, where, when and why?—and apply those to improve the accuracy of your future forecasts.

Alternatively, if you were looking for a vibrant location for new business premises, you might use AI to search for an area with a strong social media buzz around its restaurants and bars. You could teach the software to look for specific words or phrases, and harness machine learning to improve results over time.

AI technology is already widely used in HR to take the slog out of sifting through huge numbers of job applications. As well as being faster and requiring less manpower, it’s able to remove both human bias—critical in the highly subjective area of recruitment—and also identify the best candidates based on factors such as the kind of language they use.

 

Knowledge and power for everyone

These technologies are coming online now—today—for everyone. In the past, most database reporting was typically run by data analysts or scientists to update pre-existing dashboards and reports. Nowadays there are many more business users who are demanding access to such insights, which is being made possible by tools that are far easier to use.

Anyone can experiment with large samples of different data sets, combining multiple data formats—structured and unstructured—and discovering new trends. They can get answers in context, at the right time, and convert them into simple-to-understand insights, enabling decisions to be made more quickly for competitive advantages.

 

Smarter and smarter…

Yet it’s the strength of those insights that’s really compelling. As one commentator observed: ‘Machine intelligence can give you answers to questions that you haven’t even thought of.’ The quality of those answers—and their underlying questions—will only improve over time. That’s why it’s becoming a competitive imperative to embrace the power of intelligent analytics to ensure you can keep pace with market leaders.

 

Discover how…

In my last blog, I shared how organisations can profit from data warehouses and data marts, and how Oracle’s self-driving, self-securing, and self-repairing Autonomous Data Warehouse saves resources on maintenance allowing investment in data analytics.

 

Autonomous: A New Lens for Analytics

Chris Warticki - Mon, 2018-05-21 05:45

Welcome to the era of intelligent, self-driving software. Just as self-driving vehicles are set to transform motoring, self-driving software promises to transform our productivity, and strengthen our analytical abilities.

Perhaps you drive an automatic car today—how much are you looking forward to the day your car will automatically drive you? And how much more preferable would smoother, less time-consuming journeys be—always via the best route, with fewer hold-ups, and automatically avoiding unexpected road congestion—where you only have to input your destination? The technology is almost here, and similar advances are driving modern business applications.

AI and machine learning are finally coming of age thanks to the recent advances in big data that created—for the first time—data sets that were large enough for computers to draw inferences and learn from. That, along with years of SaaS application development in cloud computing environments, means that autonomous technology—harnessing both AI and business intelligence—is now fuelling self-driving software… for both cars and cloud applications.

 

Autonomy—beyond automation

Automation has, of course, been around for years. But autonomy—running on AI and machine learning—takes it to new levels. Today’s software is truly self-driving—it eliminates the need for humans to provision, secure, monitor, back-up, recover, troubleshoot or tune. It upgrades and patches itself, and automatically applies security updates, all while running normally. Indeed, an autonomous data warehouse, for example, can reduce administration overheads by up to 80%.

 

Intelligent thinking

But the greatest value is perhaps in what AI enables you to discover from your data. When applied to analytics, it can identify patterns in huge data sets that might otherwise go unnoticed. So, for example, you could apply AI to sales data to identify trends—who bought what, where, when and why?—and apply those to improve the accuracy of your future forecasts.

Alternatively, if you were looking for a vibrant location for new business premises, you might use AI to search for an area with a strong social media buzz around its restaurants and bars. You could teach the software to look for specific words or phrases, and harness machine learning to improve results over time.

AI technology is already widely used in HR to take the slog out of sifting through huge numbers of job applications. As well as being faster and requiring less manpower, it’s able to remove both human bias—critical in the highly subjective area of recruitment—and also identify the best candidates based on factors such as the kind of language they use.

 

Knowledge and power for everyone

These technologies are coming online now—today—for everyone. In the past, most database reporting was typically run by data analysts or scientists to update pre-existing dashboards and reports. Nowadays there are many more business users who are demanding access to such insights, which is being made possible by tools that are far easier to use.

Anyone can experiment with large samples of different data sets, combining multiple data formats—structured and unstructured—and discovering new trends. They can get answers in context, at the right time, and convert them into simple-to-understand insights, enabling decisions to be made more quickly for competitive advantages.

 

Smarter and smarter…

Yet it’s the strength of those insights that’s really compelling. As one commentator observed: ‘Machine intelligence can give you answers to questions that you haven’t even thought of.’ The quality of those answers—and their underlying questions—will only improve over time. That’s why it’s becoming a competitive imperative to embrace the power of intelligent analytics to ensure you can keep pace with market leaders.

 

Discover how…

In my last blog, I shared how organisations can profit from data warehouses and data marts, and how Oracle’s self-driving, self-securing, and self-repairing Autonomous Data Warehouse saves resources on maintenance allowing investment in data analytics.

 

Autonomous: A New Lens for Analytics

Antony Reynolds - Mon, 2018-05-21 05:45

Welcome to the era of intelligent, self-driving software. Just as self-driving vehicles are set to transform motoring, self-driving software promises to transform our productivity, and strengthen our analytical abilities.

Perhaps you drive an automatic car today—how much are you looking forward to the day your car will automatically drive you? And how much more preferable would smoother, less time-consuming journeys be—always via the best route, with fewer hold-ups, and automatically avoiding unexpected road congestion—where you only have to input your destination? The technology is almost here, and similar advances are driving modern business applications.

AI and machine learning are finally coming of age thanks to the recent advances in big data that created—for the first time—data sets that were large enough for computers to draw inferences and learn from. That, along with years of SaaS application development in cloud computing environments, means that autonomous technology—harnessing both AI and business intelligence—is now fuelling self-driving software… for both cars and cloud applications.

 

Autonomy—beyond automation

Automation has, of course, been around for years. But autonomy—running on AI and machine learning—takes it to new levels. Today’s software is truly self-driving—it eliminates the need for humans to provision, secure, monitor, back-up, recover, troubleshoot or tune. It upgrades and patches itself, and automatically applies security updates, all while running normally. Indeed, an autonomous data warehouse, for example, can reduce administration overheads by up to 80%.

 

Intelligent thinking

But the greatest value is perhaps in what AI enables you to discover from your data. When applied to analytics, it can identify patterns in huge data sets that might otherwise go unnoticed. So, for example, you could apply AI to sales data to identify trends—who bought what, where, when and why?—and apply those to improve the accuracy of your future forecasts.

Alternatively, if you were looking for a vibrant location for new business premises, you might use AI to search for an area with a strong social media buzz around its restaurants and bars. You could teach the software to look for specific words or phrases, and harness machine learning to improve results over time.

AI technology is already widely used in HR to take the slog out of sifting through huge numbers of job applications. As well as being faster and requiring less manpower, it’s able to remove both human bias—critical in the highly subjective area of recruitment—and also identify the best candidates based on factors such as the kind of language they use.

 

Knowledge and power for everyone

These technologies are coming online now—today—for everyone. In the past, most database reporting was typically run by data analysts or scientists to update pre-existing dashboards and reports. Nowadays there are many more business users who are demanding access to such insights, which is being made possible by tools that are far easier to use.

Anyone can experiment with large samples of different data sets, combining multiple data formats—structured and unstructured—and discovering new trends. They can get answers in context, at the right time, and convert them into simple-to-understand insights, enabling decisions to be made more quickly for competitive advantages.

 

Smarter and smarter…

Yet it’s the strength of those insights that’s really compelling. As one commentator observed: ‘Machine intelligence can give you answers to questions that you haven’t even thought of.’ The quality of those answers—and their underlying questions—will only improve over time. That’s why it’s becoming a competitive imperative to embrace the power of intelligent analytics to ensure you can keep pace with market leaders.

 

Discover how…

In my last blog, I shared how organisations can profit from data warehouses and data marts, and how Oracle’s self-driving, self-securing, and self-repairing Autonomous Data Warehouse saves resources on maintenance allowing investment in data analytics.

 

Autonomous: A New Lens for Analytics

Antonio Romero - Mon, 2018-05-21 05:45

Welcome to the era of intelligent, self-driving software. Just as self-driving vehicles are set to transform motoring, self-driving software promises to transform our productivity, and strengthen our analytical abilities.

Perhaps you drive an automatic car today—how much are you looking forward to the day your car will automatically drive you? And how much more preferable would smoother, less time-consuming journeys be—always via the best route, with fewer hold-ups, and automatically avoiding unexpected road congestion—where you only have to input your destination? The technology is almost here, and similar advances are driving modern business applications.

AI and machine learning are finally coming of age thanks to the recent advances in big data that created—for the first time—data sets that were large enough for computers to draw inferences and learn from. That, along with years of SaaS application development in cloud computing environments, means that autonomous technology—harnessing both AI and business intelligence—is now fuelling self-driving software… for both cars and cloud applications.

 

Autonomy—beyond automation

Automation has, of course, been around for years. But autonomy—running on AI and machine learning—takes it to new levels. Today’s software is truly self-driving—it eliminates the need for humans to provision, secure, monitor, back-up, recover, troubleshoot or tune. It upgrades and patches itself, and automatically applies security updates, all while running normally. Indeed, an autonomous data warehouse, for example, can reduce administration overheads by up to 80%.

 

Intelligent thinking

But the greatest value is perhaps in what AI enables you to discover from your data. When applied to analytics, it can identify patterns in huge data sets that might otherwise go unnoticed. So, for example, you could apply AI to sales data to identify trends—who bought what, where, when and why?—and apply those to improve the accuracy of your future forecasts.

Alternatively, if you were looking for a vibrant location for new business premises, you might use AI to search for an area with a strong social media buzz around its restaurants and bars. You could teach the software to look for specific words or phrases, and harness machine learning to improve results over time.

AI technology is already widely used in HR to take the slog out of sifting through huge numbers of job applications. As well as being faster and requiring less manpower, it’s able to remove both human bias—critical in the highly subjective area of recruitment—and also identify the best candidates based on factors such as the kind of language they use.

 

Knowledge and power for everyone

These technologies are coming online now—today—for everyone. In the past, most database reporting was typically run by data analysts or scientists to update pre-existing dashboards and reports. Nowadays there are many more business users who are demanding access to such insights, which is being made possible by tools that are far easier to use.

Anyone can experiment with large samples of different data sets, combining multiple data formats—structured and unstructured—and discovering new trends. They can get answers in context, at the right time, and convert them into simple-to-understand insights, enabling decisions to be made more quickly for competitive advantages.

 

Smarter and smarter…

Yet it’s the strength of those insights that’s really compelling. As one commentator observed: ‘Machine intelligence can give you answers to questions that you haven’t even thought of.’ The quality of those answers—and their underlying questions—will only improve over time. That’s why it’s becoming a competitive imperative to embrace the power of intelligent analytics to ensure you can keep pace with market leaders.

 

Discover how…

In my last blog, I shared how organisations can profit from data warehouses and data marts, and how Oracle’s self-driving, self-securing, and self-repairing Autonomous Data Warehouse saves resources on maintenance allowing investment in data analytics.

 

Autonomous: A New Lens for Analytics

Anthony Shorten - Mon, 2018-05-21 05:45

Welcome to the era of intelligent, self-driving software. Just as self-driving vehicles are set to transform motoring, self-driving software promises to transform our productivity, and strengthen our analytical abilities.

Perhaps you drive an automatic car today—how much are you looking forward to the day your car will automatically drive you? And how much more preferable would smoother, less time-consuming journeys be—always via the best route, with fewer hold-ups, and automatically avoiding unexpected road congestion—where you only have to input your destination? The technology is almost here, and similar advances are driving modern business applications.

AI and machine learning are finally coming of age thanks to the recent advances in big data that created—for the first time—data sets that were large enough for computers to draw inferences and learn from. That, along with years of SaaS application development in cloud computing environments, means that autonomous technology—harnessing both AI and business intelligence—is now fuelling self-driving software… for both cars and cloud applications.

 

Autonomy—beyond automation

Automation has, of course, been around for years. But autonomy—running on AI and machine learning—takes it to new levels. Today’s software is truly self-driving—it eliminates the need for humans to provision, secure, monitor, back-up, recover, troubleshoot or tune. It upgrades and patches itself, and automatically applies security updates, all while running normally. Indeed, an autonomous data warehouse, for example, can reduce administration overheads by up to 80%.

 

Intelligent thinking

But the greatest value is perhaps in what AI enables you to discover from your data. When applied to analytics, it can identify patterns in huge data sets that might otherwise go unnoticed. So, for example, you could apply AI to sales data to identify trends—who bought what, where, when and why?—and apply those to improve the accuracy of your future forecasts.

Alternatively, if you were looking for a vibrant location for new business premises, you might use AI to search for an area with a strong social media buzz around its restaurants and bars. You could teach the software to look for specific words or phrases, and harness machine learning to improve results over time.

AI technology is already widely used in HR to take the slog out of sifting through huge numbers of job applications. As well as being faster and requiring less manpower, it’s able to remove both human bias—critical in the highly subjective area of recruitment—and also identify the best candidates based on factors such as the kind of language they use.

 

Knowledge and power for everyone

These technologies are coming online now—today—for everyone. In the past, most database reporting was typically run by data analysts or scientists to update pre-existing dashboards and reports. Nowadays there are many more business users who are demanding access to such insights, which is being made possible by tools that are far easier to use.

Anyone can experiment with large samples of different data sets, combining multiple data formats—structured and unstructured—and discovering new trends. They can get answers in context, at the right time, and convert them into simple-to-understand insights, enabling decisions to be made more quickly for competitive advantages.

 

Smarter and smarter…

Yet it’s the strength of those insights that’s really compelling. As one commentator observed: ‘Machine intelligence can give you answers to questions that you haven’t even thought of.’ The quality of those answers—and their underlying questions—will only improve over time. That’s why it’s becoming a competitive imperative to embrace the power of intelligent analytics to ensure you can keep pace with market leaders.

 

Discover how…

In my last blog, I shared how organisations can profit from data warehouses and data marts, and how Oracle’s self-driving, self-securing, and self-repairing Autonomous Data Warehouse saves resources on maintenance allowing investment in data analytics.

 

Autonomous: A New Lens for Analytics

Anshu Sharma - Mon, 2018-05-21 05:45

Welcome to the era of intelligent, self-driving software. Just as self-driving vehicles are set to transform motoring, self-driving software promises to transform our productivity, and strengthen our analytical abilities.

Perhaps you drive an automatic car today—how much are you looking forward to the day your car will automatically drive you? And how much more preferable would smoother, less time-consuming journeys be—always via the best route, with fewer hold-ups, and automatically avoiding unexpected road congestion—where you only have to input your destination? The technology is almost here, and similar advances are driving modern business applications.

AI and machine learning are finally coming of age thanks to the recent advances in big data that created—for the first time—data sets that were large enough for computers to draw inferences and learn from. That, along with years of SaaS application development in cloud computing environments, means that autonomous technology—harnessing both AI and business intelligence—is now fuelling self-driving software… for both cars and cloud applications.

 

Autonomy—beyond automation

Automation has, of course, been around for years. But autonomy—running on AI and machine learning—takes it to new levels. Today’s software is truly self-driving—it eliminates the need for humans to provision, secure, monitor, back-up, recover, troubleshoot or tune. It upgrades and patches itself, and automatically applies security updates, all while running normally. Indeed, an autonomous data warehouse, for example, can reduce administration overheads by up to 80%.

 

Intelligent thinking

But the greatest value is perhaps in what AI enables you to discover from your data. When applied to analytics, it can identify patterns in huge data sets that might otherwise go unnoticed. So, for example, you could apply AI to sales data to identify trends—who bought what, where, when and why?—and apply those to improve the accuracy of your future forecasts.

Alternatively, if you were looking for a vibrant location for new business premises, you might use AI to search for an area with a strong social media buzz around its restaurants and bars. You could teach the software to look for specific words or phrases, and harness machine learning to improve results over time.

AI technology is already widely used in HR to take the slog out of sifting through huge numbers of job applications. As well as being faster and requiring less manpower, it’s able to remove both human bias—critical in the highly subjective area of recruitment—and also identify the best candidates based on factors such as the kind of language they use.

 

Knowledge and power for everyone

These technologies are coming online now—today—for everyone. In the past, most database reporting was typically run by data analysts or scientists to update pre-existing dashboards and reports. Nowadays there are many more business users who are demanding access to such insights, which is being made possible by tools that are far easier to use.

Anyone can experiment with large samples of different data sets, combining multiple data formats—structured and unstructured—and discovering new trends. They can get answers in context, at the right time, and convert them into simple-to-understand insights, enabling decisions to be made more quickly for competitive advantages.

 

Smarter and smarter…

Yet it’s the strength of those insights that’s really compelling. As one commentator observed: ‘Machine intelligence can give you answers to questions that you haven’t even thought of.’ The quality of those answers—and their underlying questions—will only improve over time. That’s why it’s becoming a competitive imperative to embrace the power of intelligent analytics to ensure you can keep pace with market leaders.

 

Discover how…

In my last blog, I shared how organisations can profit from data warehouses and data marts, and how Oracle’s self-driving, self-securing, and self-repairing Autonomous Data Warehouse saves resources on maintenance allowing investment in data analytics.

 

Autonomous: A New Lens for Analytics

Angelo Santagata - Mon, 2018-05-21 05:45

Welcome to the era of intelligent, self-driving software. Just as self-driving vehicles are set to transform motoring, self-driving software promises to transform our productivity, and strengthen our analytical abilities.

Perhaps you drive an automatic car today—how much are you looking forward to the day your car will automatically drive you? And how much more preferable would smoother, less time-consuming journeys be—always via the best route, with fewer hold-ups, and automatically avoiding unexpected road congestion—where you only have to input your destination? The technology is almost here, and similar advances are driving modern business applications.

AI and machine learning are finally coming of age thanks to the recent advances in big data that created—for the first time—data sets that were large enough for computers to draw inferences and learn from. That, along with years of SaaS application development in cloud computing environments, means that autonomous technology—harnessing both AI and business intelligence—is now fuelling self-driving software… for both cars and cloud applications.

 

Autonomy—beyond automation

Automation has, of course, been around for years. But autonomy—running on AI and machine learning—takes it to new levels. Today’s software is truly self-driving—it eliminates the need for humans to provision, secure, monitor, back-up, recover, troubleshoot or tune. It upgrades and patches itself, and automatically applies security updates, all while running normally. Indeed, an autonomous data warehouse, for example, can reduce administration overheads by up to 80%.

 

Intelligent thinking

But the greatest value is perhaps in what AI enables you to discover from your data. When applied to analytics, it can identify patterns in huge data sets that might otherwise go unnoticed. So, for example, you could apply AI to sales data to identify trends—who bought what, where, when and why?—and apply those to improve the accuracy of your future forecasts.

Alternatively, if you were looking for a vibrant location for new business premises, you might use AI to search for an area with a strong social media buzz around its restaurants and bars. You could teach the software to look for specific words or phrases, and harness machine learning to improve results over time.

AI technology is already widely used in HR to take the slog out of sifting through huge numbers of job applications. As well as being faster and requiring less manpower, it’s able to remove both human bias—critical in the highly subjective area of recruitment—and also identify the best candidates based on factors such as the kind of language they use.

 

Knowledge and power for everyone

These technologies are coming online now—today—for everyone. In the past, most database reporting was typically run by data analysts or scientists to update pre-existing dashboards and reports. Nowadays there are many more business users who are demanding access to such insights, which is being made possible by tools that are far easier to use.

Anyone can experiment with large samples of different data sets, combining multiple data formats—structured and unstructured—and discovering new trends. They can get answers in context, at the right time, and convert them into simple-to-understand insights, enabling decisions to be made more quickly for competitive advantages.

 

Smarter and smarter…

Yet it’s the strength of those insights that’s really compelling. As one commentator observed: ‘Machine intelligence can give you answers to questions that you haven’t even thought of.’ The quality of those answers—and their underlying questions—will only improve over time. That’s why it’s becoming a competitive imperative to embrace the power of intelligent analytics to ensure you can keep pace with market leaders.

 

Discover how…

In my last blog, I shared how organisations can profit from data warehouses and data marts, and how Oracle’s self-driving, self-securing, and self-repairing Autonomous Data Warehouse saves resources on maintenance allowing investment in data analytics.

 

CPQ is an Auditor’s Best Friend

Christopher Jones - Mon, 2018-05-21 03:00

By Andy Pieroux, Founder and Managing Director of Walpole Partnership Ltd.  

One of the reasons many companies invest in a Configure, Price and Quote (CPQ) system is to provide a robust audit trail for their pricing decisions. Let’s take a look at why, and how CPQ can help.


First, apologies if you are an auditor. I’ve always been on the business side - either in sales, sales management, or as a pricing manager. I can appreciate your view may be different from the other side of the controls. Perhaps by the end of this article our points of view may become closer?

If your business has the potential to get audited, I know that I can speak on your behalf to say we all just love being audited. We love the time taken away from our day jobs. We love the stress of feeling that something may be unearthed that exposes us or gets us in trouble, even if we’ve never knowingly done anything wrong. We love the thought of our practices being exposed as 'in need of improvement' and relish the chance to dig through old documents and folders to try and piece together the story of why we did what we did… especially when it was several years ago. Yes sir, bring on the audit.

The reason we love it so much is that in our heart of hearts, we know audits are needed for our organization to prosper in the future. We dread the thought that our company might be caught up in a scandal like the mis-selling of pensions, or PPI (payment protection insurance), or serious accounting frauds like Enron.

It was scandals like Enron in the early 2000s that gave rise to stricter audit requirements and Sarbanes-Oxley (SOX).  This set a high standard required for internal controls, and much tougher penalties for board members who fail to ensure that financial statements are accurate. The role of pricing decisions (e.g. who authorized what and when), and the accuracy of revenue reporting becomes paramount when evidencing compliance with audit arrangements such as this.

At this point, a CPQ system can be the simple answer to your audit needs. All requests for discount, and the way revenue is allocated across products and services is documented. All approvals can be; attributed to an individual, time stamped, and with reasons captured at the time of approval. More importantly, the ability to show an auditor the entire history of a decision and to follow the breadcrumbs from a signed deal all the way to reported revenue at the click of a button means you have nothing to hide, and a clear understanding of the decisions. This is music to an auditor’s ears. It builds trust and confidence in the process and means any anomalies can be quickly analyzed.

When you have all this information securely stored in the cloud, under controlled access to only those who need it, and a tamper-proof process, that means it is designed with integrity in mind, and makes the process of passing an audit so much easier. All the anxiety and pain mentioned above disappears. Auditors are no longer the enemy. You will find they can help advise on improvements to the rules in your system to make future audits even more enjoyable. Yes - that’s right…. I said it. Enjoyable Audits!

So, CPQ is an auditor’s friend, and an auditee’s friend too. It doesn’t just apply to the big-scale audit requirements like SOX, but any organization that is auditable. Whether you’re a telecommunications company affected by IFRS 15, an organization impacted by GDPR, or any one of a thousand other guidelines, rules or quality policies that get checked - having data and decisions stored in a CPQ system will make you love audits too.

 

 

CPQ is an Auditor’s Best Friend

Chris Warticki - Mon, 2018-05-21 03:00

By Andy Pieroux, Founder and Managing Director of Walpole Partnership Ltd.  

One of the reasons many companies invest in a Configure, Price and Quote (CPQ) system is to provide a robust audit trail for their pricing decisions. Let’s take a look at why, and how CPQ can help.


First, apologies if you are an auditor. I’ve always been on the business side - either in sales, sales management, or as a pricing manager. I can appreciate your view may be different from the other side of the controls. Perhaps by the end of this article our points of view may become closer?

If your business has the potential to get audited, I know that I can speak on your behalf to say we all just love being audited. We love the time taken away from our day jobs. We love the stress of feeling that something may be unearthed that exposes us or gets us in trouble, even if we’ve never knowingly done anything wrong. We love the thought of our practices being exposed as 'in need of improvement' and relish the chance to dig through old documents and folders to try and piece together the story of why we did what we did… especially when it was several years ago. Yes sir, bring on the audit.

The reason we love it so much is that in our heart of hearts, we know audits are needed for our organization to prosper in the future. We dread the thought that our company might be caught up in a scandal like the mis-selling of pensions, or PPI (payment protection insurance), or serious accounting frauds like Enron.

It was scandals like Enron in the early 2000s that gave rise to stricter audit requirements and Sarbanes-Oxley (SOX).  This set a high standard required for internal controls, and much tougher penalties for board members who fail to ensure that financial statements are accurate. The role of pricing decisions (e.g. who authorized what and when), and the accuracy of revenue reporting becomes paramount when evidencing compliance with audit arrangements such as this.

At this point, a CPQ system can be the simple answer to your audit needs. All requests for discount, and the way revenue is allocated across products and services is documented. All approvals can be; attributed to an individual, time stamped, and with reasons captured at the time of approval. More importantly, the ability to show an auditor the entire history of a decision and to follow the breadcrumbs from a signed deal all the way to reported revenue at the click of a button means you have nothing to hide, and a clear understanding of the decisions. This is music to an auditor’s ears. It builds trust and confidence in the process and means any anomalies can be quickly analyzed.

When you have all this information securely stored in the cloud, under controlled access to only those who need it, and a tamper-proof process, that means it is designed with integrity in mind, and makes the process of passing an audit so much easier. All the anxiety and pain mentioned above disappears. Auditors are no longer the enemy. You will find they can help advise on improvements to the rules in your system to make future audits even more enjoyable. Yes - that’s right…. I said it. Enjoyable Audits!

So, CPQ is an auditor’s friend, and an auditee’s friend too. It doesn’t just apply to the big-scale audit requirements like SOX, but any organization that is auditable. Whether you’re a telecommunications company affected by IFRS 15, an organization impacted by GDPR, or any one of a thousand other guidelines, rules or quality policies that get checked - having data and decisions stored in a CPQ system will make you love audits too.

 

 

CPQ is an Auditor’s Best Friend

Antony Reynolds - Mon, 2018-05-21 03:00

By Andy Pieroux, Founder and Managing Director of Walpole Partnership Ltd.  

One of the reasons many companies invest in a Configure, Price and Quote (CPQ) system is to provide a robust audit trail for their pricing decisions. Let’s take a look at why, and how CPQ can help.


First, apologies if you are an auditor. I’ve always been on the business side - either in sales, sales management, or as a pricing manager. I can appreciate your view may be different from the other side of the controls. Perhaps by the end of this article our points of view may become closer?

If your business has the potential to get audited, I know that I can speak on your behalf to say we all just love being audited. We love the time taken away from our day jobs. We love the stress of feeling that something may be unearthed that exposes us or gets us in trouble, even if we’ve never knowingly done anything wrong. We love the thought of our practices being exposed as 'in need of improvement' and relish the chance to dig through old documents and folders to try and piece together the story of why we did what we did… especially when it was several years ago. Yes sir, bring on the audit.

The reason we love it so much is that in our heart of hearts, we know audits are needed for our organization to prosper in the future. We dread the thought that our company might be caught up in a scandal like the mis-selling of pensions, or PPI (payment protection insurance), or serious accounting frauds like Enron.

It was scandals like Enron in the early 2000s that gave rise to stricter audit requirements and Sarbanes-Oxley (SOX).  This set a high standard required for internal controls, and much tougher penalties for board members who fail to ensure that financial statements are accurate. The role of pricing decisions (e.g. who authorized what and when), and the accuracy of revenue reporting becomes paramount when evidencing compliance with audit arrangements such as this.

At this point, a CPQ system can be the simple answer to your audit needs. All requests for discount, and the way revenue is allocated across products and services is documented. All approvals can be; attributed to an individual, time stamped, and with reasons captured at the time of approval. More importantly, the ability to show an auditor the entire history of a decision and to follow the breadcrumbs from a signed deal all the way to reported revenue at the click of a button means you have nothing to hide, and a clear understanding of the decisions. This is music to an auditor’s ears. It builds trust and confidence in the process and means any anomalies can be quickly analyzed.

When you have all this information securely stored in the cloud, under controlled access to only those who need it, and a tamper-proof process, that means it is designed with integrity in mind, and makes the process of passing an audit so much easier. All the anxiety and pain mentioned above disappears. Auditors are no longer the enemy. You will find they can help advise on improvements to the rules in your system to make future audits even more enjoyable. Yes - that’s right…. I said it. Enjoyable Audits!

So, CPQ is an auditor’s friend, and an auditee’s friend too. It doesn’t just apply to the big-scale audit requirements like SOX, but any organization that is auditable. Whether you’re a telecommunications company affected by IFRS 15, an organization impacted by GDPR, or any one of a thousand other guidelines, rules or quality policies that get checked - having data and decisions stored in a CPQ system will make you love audits too.

 

 

CPQ is an Auditor’s Best Friend

Antonio Romero - Mon, 2018-05-21 03:00

By Andy Pieroux, Founder and Managing Director of Walpole Partnership Ltd.  

One of the reasons many companies invest in a Configure, Price and Quote (CPQ) system is to provide a robust audit trail for their pricing decisions. Let’s take a look at why, and how CPQ can help.


First, apologies if you are an auditor. I’ve always been on the business side - either in sales, sales management, or as a pricing manager. I can appreciate your view may be different from the other side of the controls. Perhaps by the end of this article our points of view may become closer?

If your business has the potential to get audited, I know that I can speak on your behalf to say we all just love being audited. We love the time taken away from our day jobs. We love the stress of feeling that something may be unearthed that exposes us or gets us in trouble, even if we’ve never knowingly done anything wrong. We love the thought of our practices being exposed as 'in need of improvement' and relish the chance to dig through old documents and folders to try and piece together the story of why we did what we did… especially when it was several years ago. Yes sir, bring on the audit.

The reason we love it so much is that in our heart of hearts, we know audits are needed for our organization to prosper in the future. We dread the thought that our company might be caught up in a scandal like the mis-selling of pensions, or PPI (payment protection insurance), or serious accounting frauds like Enron.

It was scandals like Enron in the early 2000s that gave rise to stricter audit requirements and Sarbanes-Oxley (SOX).  This set a high standard required for internal controls, and much tougher penalties for board members who fail to ensure that financial statements are accurate. The role of pricing decisions (e.g. who authorized what and when), and the accuracy of revenue reporting becomes paramount when evidencing compliance with audit arrangements such as this.

At this point, a CPQ system can be the simple answer to your audit needs. All requests for discount, and the way revenue is allocated across products and services is documented. All approvals can be; attributed to an individual, time stamped, and with reasons captured at the time of approval. More importantly, the ability to show an auditor the entire history of a decision and to follow the breadcrumbs from a signed deal all the way to reported revenue at the click of a button means you have nothing to hide, and a clear understanding of the decisions. This is music to an auditor’s ears. It builds trust and confidence in the process and means any anomalies can be quickly analyzed.

When you have all this information securely stored in the cloud, under controlled access to only those who need it, and a tamper-proof process, that means it is designed with integrity in mind, and makes the process of passing an audit so much easier. All the anxiety and pain mentioned above disappears. Auditors are no longer the enemy. You will find they can help advise on improvements to the rules in your system to make future audits even more enjoyable. Yes - that’s right…. I said it. Enjoyable Audits!

So, CPQ is an auditor’s friend, and an auditee’s friend too. It doesn’t just apply to the big-scale audit requirements like SOX, but any organization that is auditable. Whether you’re a telecommunications company affected by IFRS 15, an organization impacted by GDPR, or any one of a thousand other guidelines, rules or quality policies that get checked - having data and decisions stored in a CPQ system will make you love audits too.

 

 

CPQ is an Auditor’s Best Friend

Anthony Shorten - Mon, 2018-05-21 03:00

By Andy Pieroux, Founder and Managing Director of Walpole Partnership Ltd.  

One of the reasons many companies invest in a Configure, Price and Quote (CPQ) system is to provide a robust audit trail for their pricing decisions. Let’s take a look at why, and how CPQ can help.


First, apologies if you are an auditor. I’ve always been on the business side - either in sales, sales management, or as a pricing manager. I can appreciate your view may be different from the other side of the controls. Perhaps by the end of this article our points of view may become closer?

If your business has the potential to get audited, I know that I can speak on your behalf to say we all just love being audited. We love the time taken away from our day jobs. We love the stress of feeling that something may be unearthed that exposes us or gets us in trouble, even if we’ve never knowingly done anything wrong. We love the thought of our practices being exposed as 'in need of improvement' and relish the chance to dig through old documents and folders to try and piece together the story of why we did what we did… especially when it was several years ago. Yes sir, bring on the audit.

The reason we love it so much is that in our heart of hearts, we know audits are needed for our organization to prosper in the future. We dread the thought that our company might be caught up in a scandal like the mis-selling of pensions, or PPI (payment protection insurance), or serious accounting frauds like Enron.

It was scandals like Enron in the early 2000s that gave rise to stricter audit requirements and Sarbanes-Oxley (SOX).  This set a high standard required for internal controls, and much tougher penalties for board members who fail to ensure that financial statements are accurate. The role of pricing decisions (e.g. who authorized what and when), and the accuracy of revenue reporting becomes paramount when evidencing compliance with audit arrangements such as this.

At this point, a CPQ system can be the simple answer to your audit needs. All requests for discount, and the way revenue is allocated across products and services is documented. All approvals can be; attributed to an individual, time stamped, and with reasons captured at the time of approval. More importantly, the ability to show an auditor the entire history of a decision and to follow the breadcrumbs from a signed deal all the way to reported revenue at the click of a button means you have nothing to hide, and a clear understanding of the decisions. This is music to an auditor’s ears. It builds trust and confidence in the process and means any anomalies can be quickly analyzed.

When you have all this information securely stored in the cloud, under controlled access to only those who need it, and a tamper-proof process, that means it is designed with integrity in mind, and makes the process of passing an audit so much easier. All the anxiety and pain mentioned above disappears. Auditors are no longer the enemy. You will find they can help advise on improvements to the rules in your system to make future audits even more enjoyable. Yes - that’s right…. I said it. Enjoyable Audits!

So, CPQ is an auditor’s friend, and an auditee’s friend too. It doesn’t just apply to the big-scale audit requirements like SOX, but any organization that is auditable. Whether you’re a telecommunications company affected by IFRS 15, an organization impacted by GDPR, or any one of a thousand other guidelines, rules or quality policies that get checked - having data and decisions stored in a CPQ system will make you love audits too.

 

 

CPQ is an Auditor’s Best Friend

Anshu Sharma - Mon, 2018-05-21 03:00

By Andy Pieroux, Founder and Managing Director of Walpole Partnership Ltd.  

One of the reasons many companies invest in a Configure, Price and Quote (CPQ) system is to provide a robust audit trail for their pricing decisions. Let’s take a look at why, and how CPQ can help.


First, apologies if you are an auditor. I’ve always been on the business side - either in sales, sales management, or as a pricing manager. I can appreciate your view may be different from the other side of the controls. Perhaps by the end of this article our points of view may become closer?

If your business has the potential to get audited, I know that I can speak on your behalf to say we all just love being audited. We love the time taken away from our day jobs. We love the stress of feeling that something may be unearthed that exposes us or gets us in trouble, even if we’ve never knowingly done anything wrong. We love the thought of our practices being exposed as 'in need of improvement' and relish the chance to dig through old documents and folders to try and piece together the story of why we did what we did… especially when it was several years ago. Yes sir, bring on the audit.

The reason we love it so much is that in our heart of hearts, we know audits are needed for our organization to prosper in the future. We dread the thought that our company might be caught up in a scandal like the mis-selling of pensions, or PPI (payment protection insurance), or serious accounting frauds like Enron.

It was scandals like Enron in the early 2000s that gave rise to stricter audit requirements and Sarbanes-Oxley (SOX).  This set a high standard required for internal controls, and much tougher penalties for board members who fail to ensure that financial statements are accurate. The role of pricing decisions (e.g. who authorized what and when), and the accuracy of revenue reporting becomes paramount when evidencing compliance with audit arrangements such as this.

At this point, a CPQ system can be the simple answer to your audit needs. All requests for discount, and the way revenue is allocated across products and services is documented. All approvals can be; attributed to an individual, time stamped, and with reasons captured at the time of approval. More importantly, the ability to show an auditor the entire history of a decision and to follow the breadcrumbs from a signed deal all the way to reported revenue at the click of a button means you have nothing to hide, and a clear understanding of the decisions. This is music to an auditor’s ears. It builds trust and confidence in the process and means any anomalies can be quickly analyzed.

When you have all this information securely stored in the cloud, under controlled access to only those who need it, and a tamper-proof process, that means it is designed with integrity in mind, and makes the process of passing an audit so much easier. All the anxiety and pain mentioned above disappears. Auditors are no longer the enemy. You will find they can help advise on improvements to the rules in your system to make future audits even more enjoyable. Yes - that’s right…. I said it. Enjoyable Audits!

So, CPQ is an auditor’s friend, and an auditee’s friend too. It doesn’t just apply to the big-scale audit requirements like SOX, but any organization that is auditable. Whether you’re a telecommunications company affected by IFRS 15, an organization impacted by GDPR, or any one of a thousand other guidelines, rules or quality policies that get checked - having data and decisions stored in a CPQ system will make you love audits too.

 

 

CPQ is an Auditor’s Best Friend

Angelo Santagata - Mon, 2018-05-21 03:00

By Andy Pieroux, Founder and Managing Director of Walpole Partnership Ltd.  

One of the reasons many companies invest in a Configure, Price and Quote (CPQ) system is to provide a robust audit trail for their pricing decisions. Let’s take a look at why, and how CPQ can help.


First, apologies if you are an auditor. I’ve always been on the business side - either in sales, sales management, or as a pricing manager. I can appreciate your view may be different from the other side of the controls. Perhaps by the end of this article our points of view may become closer?

If your business has the potential to get audited, I know that I can speak on your behalf to say we all just love being audited. We love the time taken away from our day jobs. We love the stress of feeling that something may be unearthed that exposes us or gets us in trouble, even if we’ve never knowingly done anything wrong. We love the thought of our practices being exposed as 'in need of improvement' and relish the chance to dig through old documents and folders to try and piece together the story of why we did what we did… especially when it was several years ago. Yes sir, bring on the audit.

The reason we love it so much is that in our heart of hearts, we know audits are needed for our organization to prosper in the future. We dread the thought that our company might be caught up in a scandal like the mis-selling of pensions, or PPI (payment protection insurance), or serious accounting frauds like Enron.

It was scandals like Enron in the early 2000s that gave rise to stricter audit requirements and Sarbanes-Oxley (SOX).  This set a high standard required for internal controls, and much tougher penalties for board members who fail to ensure that financial statements are accurate. The role of pricing decisions (e.g. who authorized what and when), and the accuracy of revenue reporting becomes paramount when evidencing compliance with audit arrangements such as this.

At this point, a CPQ system can be the simple answer to your audit needs. All requests for discount, and the way revenue is allocated across products and services is documented. All approvals can be; attributed to an individual, time stamped, and with reasons captured at the time of approval. More importantly, the ability to show an auditor the entire history of a decision and to follow the breadcrumbs from a signed deal all the way to reported revenue at the click of a button means you have nothing to hide, and a clear understanding of the decisions. This is music to an auditor’s ears. It builds trust and confidence in the process and means any anomalies can be quickly analyzed.

When you have all this information securely stored in the cloud, under controlled access to only those who need it, and a tamper-proof process, that means it is designed with integrity in mind, and makes the process of passing an audit so much easier. All the anxiety and pain mentioned above disappears. Auditors are no longer the enemy. You will find they can help advise on improvements to the rules in your system to make future audits even more enjoyable. Yes - that’s right…. I said it. Enjoyable Audits!

So, CPQ is an auditor’s friend, and an auditee’s friend too. It doesn’t just apply to the big-scale audit requirements like SOX, but any organization that is auditable. Whether you’re a telecommunications company affected by IFRS 15, an organization impacted by GDPR, or any one of a thousand other guidelines, rules or quality policies that get checked - having data and decisions stored in a CPQ system will make you love audits too.

 

 

Announcing July/August Australian Dates: “Oracle Indexing Internals and Best Practices” Seminar

Richard Foote - Mon, 2018-05-21 02:58
I’m very excited to announce new Australian dates for my highly acclaimed “Oracle Indexing Internals and Best Practices” seminar. This is a must attend seminar of benefit to not only DBAs, but also to Developers, Solution Architects and anyone else interested in designing, developing or maintaining high performance Oracle-based applications. It’s a fun, but intense, […]
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