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 […]
Management Consulting
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, […]
Marriage of DevOps and ITIL
DevOps is more of a philosophy or way of working than it is a formal framework or standard. Nevertheless, the approach deserves merit, as it goes to the core of tension in most IT organizations—the need to be responsive to business change while maintaining a stable, highly available IT infrastructure, and delivering quality services that […]
Tools to Calibrate the Need for Organizational Change Management
While digital transformation started gradually over 25 years ago, this new wave of data driven innovation has steadily gained momentum. Today, digital transformation includes a wide umbrella of technologies – including the cloud, Big Data, analytics, artificial intelligence, mobile/mobility, and IoT. For me, the digital transformation revolution gives us an incredible number of tools to improve how we […]
Build a Perpetual Beta Mindset to Speed Organizational Change
Nearly every day, I can scan the headlines on my news feeds and read a report on the dramatic ways that artificial intelligence (AI) is changing the way we work. While the field of AI is wide and evolving, I like the definition given by Nils J. Nilsson, a founding AI researcher at Stanford University: Artificial intelligence is that activity devoted to making machines intelligent, and intelligence […]
Four Steps to Successful Improvement through Customer Feedback
The old adage “the customer is always right” may frustrate some companies, but getting to the heart of the customer voice through robust data aggregation and analysis tools has never been easier. Social media has now given everyone a feedback channel that customer service organizations can harness to improve offerings and stay competitive. Perficient recommends […]
Your “Back of the Napkin” Formula for Leading Change
When was the last time you gave an impromptu update over lunch on the back of a napkin to explain that big change project you are leading? Did you run out of space on the napkin or were you able to succinctly capture and explain where and why the project was – or was not – on target? […]