Empowering Finance Team

With Data Analytics

What is it all about?
The value of data analytics is derived mainly from
having the ability to speed up the intelligent decision
making process towards meeting critical business
objectives and mitigating emerging risks.

Managements desire for much faster, reliable, and
value-added information has never been more
important today with the changing dynamics of
modern business.

Preparing this value-added analysis to assess the
effectiveness of the business remains a
fundamental challenge for the Finance Teams.
Only about 23% of Finances time is
being spent on providing value-added
analysis to the business American Productivity
and Quality Centre 2012

How can you benefit from it?
Given the challenging economic conditions Data
Analytics can provide your Company with a
competitive edge.
High performing Companies are 50%
more likely to use analytical information
strategically - Competing on Analytics, Thomas
Davenport

For the Finance Team this could mean:
A highly motivated team being able to add
value to the business; put a stop to low
morale and self-esteem knowing that all the
relevant reports are just one click away; and on
time and without errors.

Increased performance by having the ability
to better manage voluminous transactions;
eliminate redundant and time-consuming data
processing.

Improved work life balance by having more
time for yourself and your family; say good
bye to never ending overtime work and
sleepless nights, particularly during month-end
annual closing activities.
What are the common data
analytics tools out there?
Based on the recent survey by the Institute of
Internal Auditors, Microsoft Excel was identified
as one of the most popular data analytics tools.
However, from the experience working with our
Clients, Excels enormous processing
capabilities are rarely explored and utilised.
Other third party Data Analytics software also
includes ACL and IDEA.

The accelerating power of data analytics proved
to be very useful in successfully completing
some of our challenging projects, to include the
following:

Financial and management reporting
We have developed a comprehensive
financial and management reporting
package which can be replicated every
month within an hour instead of several
days as traditionally required.

Procurement fraud We were able to spot
red flags and direct the focus of our fraud
investigation to highly questionable
transactions. In one week, we completed
the preliminary analytics for more than 12
million records covering 10 years of
procurement transactions.

What do you do now?
Enrol in our Data Analytics seminar!
Grant Thornton Vietnam offers a 2-day seminar
on Data Analytics using Microsoft Excel.
Participants can learn the 10 basic functionalities
commonly used in performing powerful data
analytics.

Contact us

Ms. Le Thao Vi, Advisory Services Analyst
T +84 83910 9108
E Vi.Le@vn.gt.com


2013 Grant Thornton (Vietnam) Ltd. All rights reserved.