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Peter Wagner

Recent Posts by Peter Wagner:

How Artificial Intelligence Could Help Manage Contracts

Managing contracts is already a painful process. When the new revenue recognition rules outlined in ASC 606 go into full effect, the process will become even harder.

Beginning in December 2018 all companies will need to report revenue from all contracts in a new way. The goal is to make revenue recognition simple and more standardized across industries. But to achieve that, companies must follow new rules and adopt different practices.

Topics: Revenue Recognition Artificial Intelligence RPA ASC 606

The State of Robotic Process Automation (RPA) – Key Takeaways

Robotic process automation (RPA) is a complex sounding name for a fairly simple concept. Anytime a process is performed by a robot or automation rather than a human it is an example of RPA. That includes everything from the robots that build cars to sophisticated systems that handle big data analysis.

Topics: Robotic Process Automation RPA

How Did the Recent Market Dip Affect SaaS Companies?

After years of rising fortunes and relative stability, the stock market went on a wild ride through the start of 2018. More than $5 trillion drained out of global equity markets over the first 10 days of February, and halfway through the Dow shed almost 1,600 points in one day – the largest single-day decline in history.

Now that the volatility has largely leveled off, investors and industry insiders are understandably eager to figure out exactly what this turbulence means for the future of markets. Looking at the stocks that plunged is important, but the stocks that made it through February relatively unscathed are just as instructive.

Topics: SaaS Cloud Computing / SaaS

Talent: The Elusive Ingredient in Your Big Data Strategy

Data is a priority for every organization these days. That could mean a full-blown big data initiative designed to capture all available data and analyze it as deeply as possible. Or it could mean a more modest effort simply aimed at organizing and leveraging data effectively. Either way, experience and expertise with data is invaluable.

With that in mind, recently released figures from the employment website Glassdoor make a lot of sense. Consider these eye-opening stats:

Topics: Business Intelligence / Analytics Adaptive Insights Big Data

4 Necessary Skills for Today's CFO

The role of the CFO is growing and changing rapidly. CFOs are still tasked with leadership and oversight. But they are now also responsible for developing strategy and making key decisions. In order to excel at that responsibility, today's CFOs need the following skills:

Topics: CFO

How New Technology Provides Stability and Certainty

Depending on whom you ask, we are living in a time of either disruption or innovation. Legacy brands, traditional channels, and long-standing consumer expectations are all falling by the wayside. And while some companies are faltering, others are surging.

What separates companies on the rise compared with those on the decline is not their size, industry, or orientation. It's their agility in the face of uncertain circumstances. Regardless of your evaluation of the present moment, the one undeniable truth is that things are changing fast.

Topics: accounting software technology risk mitigation

Data Science: The Foundation of Future Accounting

Data science has a high-tech connotation, yet it's a discipline that has slowly and subtly become central to the practice of accounting. It began in the biggest accounting firms, but now several midmarket players are relying on solutions or planning to implement them soon.

In the same way that other types of scientists study human cells or ancient bones, data scientists study information and information systems. Their goal is to identify patterns, trends, anomalies, and deviations. And in the process, they work to make accessing data more intuitive and flexible for all.

Topics: Accounting CPA Data Science

Enterprise Software Buyers Should be Cautiously Optimistic

Brian Sommer has made a career out of analyzing the enterprise software space, and his evaluation of the industry in 2017 is mixed at best.

He talks about some of the themes we have been reporting on for months, including the rise of big data in accounting and new revenue recognition rules. He also talks about cloud ERP reaching maturity and becoming the standard for multiple industries.

His outlook is not entirely positive or even neutral, however. Sommer calls attention to vendors struggling with growing pains and passing on costs to customers. Enterprise HR draws particular ire as companies continue to seek solutions for training and culture on a large-scale. The explosion of overlapping "platforms" is also creating confusion for enterprise software buyers.

Topics: ERP Diginomica Sage Intacct

Artificial Intelligence Will Prove How Necessary People Are

As artificial intelligence (AI) grows in maturity and ubiquity, it's hard not to imagine a "rise of the robots" scenario. But whether you expect the future to be more like the Jetsons or more like Terminator, it's likely to be less robotic than any of us predict.

Topics: Accounting CPA Artificial Intelligence

The More Active the CFO the More Stable the Company

Data-driven technologies are revolutionizing finance in ways that are both exciting and unexpected. Just consider the fintech startup Prattle. The company uses machine learning and analytics to determine whether earnings calls will have a positive or negative impact on markets.

The technologies analyze word choices, speech patterns, length, and other variables of earnings calls. Then the technologies compare those variables against past speeches. The goal is to spot patterns, trends, and indicators that lie below the surface of the statements.

Exploring Prattle's approach is fascinating because it uncovers market oddities that had previously been intuitive but not obvious. For instance, Prattle's data shows that when CFOs talk more than CEOs the company's stock experiences less short-term volatility.

Topics: CFO