Global IDs can help Chief Financial Officers meet the following objectives.

1. Create trust in financial data and reporting

Financial consolidation and reporting in many companies is often a manual process prone to human errors. Much of the home-grown accounting and consolidation software involves poorly understood and undocumented application logic that can lead to misleading or wrong information.

We can improve the accuracy of the financial reporting by making the consolidation process transparent, and provide a reporting mechanism where all the underlying processes can be easily audited and validated.

2. Build Repositories of Business Performance Metrics

Most companies find it valuable to monitor their business activities by creating a repository of business metrics. Many large companies have had impressive successes by implementing Six Sigma, Balanced Scorecard or EVA metrics repositories.

Global IDs can create enterprise level business performance metrics repositories, allowing CEOs to view the performance of their company at a granular level.

3. Understand business profitability at a customer/product level

Most companies have a high-level understanding of profitability and EBITDA, but a detail level understanding of profitability is absent. Such companies would like to see all the factors that impact profitability at a customer/product level.

Global IDs can help companies integrate enterprise data and measure profitability at a customer product level.