Revolutionizing Finance: A Fresh Perspective from Deloitte and the Promise of Finray

In a recent illuminating article by Deloitte’s Financial Services Finance Transformation team, a common challenge within the finance sector was brought into focus: the convoluted layers of technology and data processing that separate source systems from finance teams. Deloitte suggests a streamlined approach using a clean financial product sub-ledger as an effective alternative.

Imagine a world where the finance department, not the IT department, takes the lead. Envision an application designed by finance professionals for finance professionals, which facilitates the extraction of data directly from its source. This application would empower business users to onboard data effortlessly, establish necessary rules and processes, and generate accountant-grade reports. Furthermore, it seamlessly integrates with other critical finance systems such as general ledgers and regulatory reporting tools.

Finray embodies this vision. A cutting-edge platform built by accountants with over a century of collective experience in banking and capital markets, Finray not only simplifies financial data management but also incorporates robust reporting and dashboarding capabilities. This enables teams to rapidly respond to inquiries and derive insights, enhancing decision-making processes across the board.

The business case for adopting Finray is compelling. By reducing the layers of technology, Finray facilitates more straightforward, transparent data flows, which significantly decreases the risk of errors and increases the efficiency of financial reporting.