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“Our solution mines the complete information even from the lowest level transactions and presents it through a single pane of glass,” says David Schmidtknecht, Principal of cBEYONData. The CFO Control Tower has pre-built systems integration routines that extract data from internal and public source systems. These routines cleanse and store data for external regulatory requirements such as GTAS and DATA Act reporting and eliminate manual assumption-based work. The solution includes multiple packages of data extraction tools for ERP, Procurement, Time, and Travel systems, and external public data stored in FPDSNG, and USA Spending. The aggregated data aids in notification generation and delivery, as the CFO Control Tower sends alerts and notifications of crucial tasks to be done or when a pre-defined threshold has been breached. For example, if an organization has invoices that are not paid and interest will be due soon, the solution sends alerts automatically to the concerned person or department.
“The CFO Control Tower helps clients automate cumbersome processes and comply with the regulatory requirements,” states Schmidtknecht.
Our philosophy is simple: deploy quality business intelligence and big data solutions that work
Mr. Schmidtknecht cites a success story where the CFO Control Tower enabled a major transformation for a Federal agency. “The client was unable to mine information from their old accounting system that had to be integrated with the new financial system. To aid in the data process, cBEYONData implemented the CFO Control Tower which helped the client to extract the crucial information, build reports, comply with external regulations, and ensure audit readiness. Since the data was aggregated and reconciled, the client maintained transactional consistency across the two different systems. Real time data access was also a significant benefit for the client”, Mr. Schmidtknecht added.
The team of data and financial experts at cBEYONData harness the power of analytics and anticipate the challenges for the clients, keeping them ahead of upcoming regulations. Where can the CFO Control Tower take you? Future possibilities for the tool are endless. cBEYONData is excited about being able to solve financial data puzzles for Federal and state governments, making real time data sharing and usage a reality.