Read part two of the CFO Strategy Playbook, covering context, objectives and governance and why they are important to set the stage for a functional, finance strategy which creates impact.
Technology has always impact our businesses, externally and internally, and tech budgets tended to go on front end, business facing technology first Now attention has turned inward and is permeating to finance and all departments, as digital operations and the harnessing of data for insight and analytics drives change.
So what technology driven change do you expect to see, and what is your company planning to do in the next few years?
I love a 2×2 matrix or four box grid, as it is such a simple way to communicate a host of data against two variables, from what to work on (Eisenhower Grid) to what suppliers to work with (Kraljic Matrix).
Here is another one, which focuses on BI tool user satisfaction and BI tool market presence.
I like this matrix because the user’s voice counts more than any other metric (and not the IT consultants view on ease of implementation/execution, for example, or the vendors make believe roadmap that may or may not be relevant to the user. Sorry Gartner!)
User satisfaction suggests buyers needs are being met or exceeded which is critical in tool selection, and market presence indicate not only a mature, tired and tested product, but more importantly, a user community that is feeding back and making suggestions and demand to tool owners to make them better.
The result, a list of leading BI tools users want to use, that’s you! And for you techies, I have also added a note on Gartner’s 2×2 BI tools matrix, Feb 2018 (Ability to execute x Completeness of vision) to highlight the cream of the crop.
BI tool Leaders ordered by Satisfaction, with Gartner reference.
Tableau (Gartner Leader)
Power BI (Gartner Leader)
Board – also positioned as Corporate Performance Management software
Qlik (Gartner Leader)
MicroStrategy (Gartner Challenger)
So depending on your requirements, and how niche they are, I would consider all of the above, and as a general starter I would review Tableau, Power BI, Qlik and Board (due to its CPM/EPM/FP&A positioning).