Article Paul Rothwell, Partner Financa Transformation KPMG
In this series, KPMG’s leading Finance Transformation specialists discuss some recent examples and leading practices on what other financial institutions are doing to successfully modernize their finance function, balancing the need for control, compliance, efficiency and impact.
In this article, we explore the future state IT architecture for the finance function and what considerations can be made when new technology is deployed in order to maintain compliance with regulatory requirements and initiatives.
Building an integrated Finance data and IT systems architecture is a core capability needed to deliver quality financial reporting faster, better and cheaper. It is also a key enabler for Finance to become more agile to respond to new reporting needs and requirements, as well as to improve and maintain control. A leading-class end-state architecture will consider integrating data flows, harmonizing data sourcing and aligning calculation modules with centralized data storage for downstream use.
