Have you ever watched an orchestra before they perform a concert? You will see an interesting ritual where musicians individually warm up their instruments as the audience arrives to find their seats. Next, without a visible external cue – and before the conductor steps on stage, the musicians begin their tuning process. The principal violinist (also known as the concertmaster) will play a tuning note. Fellow violinists seated next […]
Management Consulting
How the 3 Rules of Paramedicine Apply to Business
Being a paramedic during the formative years of my working life, I’ve been surprised at how many of the lessons that I learned on the job have translated to the business world. Paramedics have a notoriously dark sense of humor. It’s a natural coping mechanism that helps to manage the stresses of the job. […]
Financial Statements and Disclosures under CECL
Entities must first include the new CECL disclosures in their financial statements and regulatory reports (e.g., the quarterly call report), commencing with the aforementioned effective dates. There is no separate filing requirement for CECL. The structure and granularity of an entity’s income statement and balance sheet does not to change, as the details of the […]
Evaluating the Maturity of Key Supply Chain Components
To successfully address supply chain trends, it is critical that the foundational aspects of your existing supply chain are operating effectively. We recommend evaluating the maturity of the following key supply chain components before attempting to use the latest technologies. SUPPLY CHAIN DATA GOVERNANCE (BLOCKCHAIN, ADVANCED ANALYTICS) Data integrity is the key to supporting transformational […]
Establish Formal Data Contracts Between Data Owners and Consumers
A final capability that is emerging is the establishment of formal data contracts between data owners and data consumers and integrates each of the key capabilities described in our previous blogs. A data contract is an agreement that specifies data owner accountability regarding data delivery acceptability levels, as well as the consequences and expectations for […]
CECL Model Alternatives
CECL requires loss estimates to include relevant information about past events, current condition and reasonable and supportable forecasts using both internal and external information, including a range of qualitative and quantitative factors. Estimates of expected credit losses must consider information related to the borrower’s creditworthiness, the issuer’s underwriting practices, and the current and forecasted direction […]
The New CECL Accounting Standard
CECL, or current expected credit loss, is a new accounting standard that will change how financial institutions account for expected credit losses. Complying with the new CECL standard will have a major impact on an institutions’ operations, accounting/finance, IT, credit, and risk processes and systems. Under current US GAAP (generally accepted accounting principles), an “incurred […]
What’s Next in Supply Chain?
While it’s impossible to know for certain what the future holds, trends can be a reliable predictor of what’s on the horizon. Our extensive work with supply chain has revealed several trends that we believe will be impacting supply chain in the near future. These include: Blockchain: Create immutable end-to-end data visibility into all aspects of […]
Driving Better Decisions with Data Governance
The business capabilities presented in our new guide demonstrates how forward-thinking financial services companies are leveraging data governance to create value for the enterprise. Accurate and timely information continues to be a key driver of enabling better decision making. Capabilities such as data principles and strategy, data architecture, organizational roles, authoritative sources, data lineage, data […]
[Guide] Six Trends for Optimizing Supply Chain Operations
Establishing the best supply chain possible is paramount to teams and leaders responsible for meeting the product and service needs of their internal and external customers. Fortunately, the supply chain world is constantly evolving and challenging leaders to reevaluate their place within the ecosystem. As innovations in process and technology are introduced, the speed of […]
Why Aren’t Any Business Intelligence Apps Using Graph Data
Business intelligence isn’t always about the facts. Don’t get me wrong, there will always be a place for dashboards and BI reports. Making business decisions without them is unimaginable so we all appreciate SQL based business intelligence systems with star schemas that point to meaningful fact values. One of the many lessons learned from the […]
The Salesforce Rap Battle! Config D vs. Custom JZ
To Object or Not Object, That Is The Question We’ve all been there as Salesforce Consultants or Solution Architects; a client is thrilled about the Service Cloud rollout and the amazing adoption rate by jadded SMEs when suddenly someone on the client side blurts out, “Wow, wouldn’t it be nice if we could do X, […]