Financial data management: three strategic benefits for scaling groups
Finance teams faces more demands from the entire organization and management, faster turnarounds, and higher expectations, all with the same resources to get it done.
This is especially true for groups who are experiencing, or expecting, fast growth.
But how can you stay flexible when data volumes increase, and information is spread across multiple local systems and formats?
That’s what agility means today: delivering more with the same resources, while maintaining control and accuracy.
Every CFO knows the challenge isn’t just doing more; it’s doing it better, protecting trust in the numbers, supporting the team, and keeping focus on the bigger picture. By centralizing your data, you get clear vision of the bigger picture in your finance function – what we call efficient data management.
Achieving efficient data management with a centralized platform
With a data management solution, you can collect, synchronize, and store all your group’s financial data. It creates flexibility, enabling you to get consolidated reports across multiple entities, drill down into transactional details, and combine information from any source in the group, exactly how you need it for analysis or decision-making.
There are three primary benefits that provide scalability in your finance processes:
1. Flexibility with multiple ERP systems
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What if we said you don’t have to force each subsidiary into the same ERP system? Using multiple ERP systems across different parts of your groups allows each entity to work in the ERP best suited to its needs. This makes day-to-day operations smoother and avoids forcing subsidiaries into systems that don’t fit them.
This flexibility is especially valuable during mergers and acquisitions, where bringing new entities into one ERP system can be slow, costly, and disruptive. With a financial data management solution, you can integrate data directly from each ERP system and harmonize it centrally.
The result is fast onboarding of new companies, minimal disruption, and full visibility across the group, regardless of which ERP system each subsidiary uses.
2. Single source of truth: consistent data for all purposes
When you use a data management solution, your group’s financial data is synchronized and centralized, creating a single source of truth. This automation reduces manual errors and improves the accuracy of your reports, giving management confidence in the decisions they make.
The benefit is immediate: finance teams get accurate, reliable, and consistent reports they can trust. Management can make informed decisions faster, and compliance requirements are easier to meet, all without depending on IT or other departments. Because the data belongs to finance and is not locked inside a CPM system, it can be used flexibly across reporting, analysis, and strategic planning.
Everyone works from the same, trusted version of the truth, no matter the purpose.
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3. Implement now, save time later
Timing is critical for finance teams. Waiting for IT or for broader group data warehouse projects can slow down reporting, analysis, and decision-making. By prioritizing the implementation of a data management solution now, finance can take ownership of its own data and gain direct access across the group.
This early adoption means that downstream processes, from consolidation to management reporting, become faster and more efficient. You avoid bottlenecks, reduce manual work, and free up resources for more strategic tasks. Implementing now ensures that as the group grows, finance is already equipped to handle complex tasks without delay.
Conclusion
Adopting a flexible and scalable data management strategy empowers finance teams to navigate complex challenges with agility. By leveraging the advantages of multiple ERP systems, ensuring data consistency through a single source of truth, and initiating small, focused projects, groups can enhance efficiency, reduce risks, and position themselves for sustainable growth.