Why is a Usage Data Platform Critical for CFO's!
CFO's and C Level executives have a constant common denominator:
A.-How to Reduce Operational Cost
B.-Increase Cash Flow
C.-Find and Introduce New Revenue Streams
These are constantly in the back of their minds and impacts their day to day decision making process.
CFO's however love it when their CCO's or CSO's colleagues are so superb at their jobs that their forecasting accuracy never varies up and down max 3-10% because what they love most is predictability!
They don't like headaches and let's face it who does?
One more thing they hate is receiving angry calls from the Managing Directors or CEO's of their local subsidiaries rightfully complaining about the high cost of IT and infrastructure.
Many multinational companies are unable to accurately do Usage Chargebacks based on accurate consumption down to its lower common denominator:
Below is an example of the Managing Director of a subsidiary in South America of a Global Company.
"Why should I pay the same cost out of my P&L for IT and infrastructure here in Paraguay as they do in Brazil?" Cleary they are a much larger subsidiary and consume more"
The CFO's dilemma is not having the capabilities to breakdown the exact cost and allocate it accordingly
Having the capabilities to breakdown and perform a Usage Chargeback for exactly what is used will provide a 100% accurate view of everything consumed, printing, software usage, infrastructure services, connectivity, network bandwidth, Etc.
No more complaints and headaches, the CFO will be as happy as a pig in mud!
A Usage Data Platforms and the ability to perform true Business Model Innovation will also make the lives of the CCO / CSO much better and they will look like heroes to their CEO and CFO, they will be able to offer services and introduce price plans with millions or even billions of events / chargeable items, bill them accurately and efficiently not having to rely on spreadsheets which handicap their ability to introduce new price plans which can take weeks, with a Usage Data Platform they can do that in minutes, thus enhancing their creativity and flexibility, loved by their clients.
No more meetings where everyone asks who has the latest spreadsheet?
IoT is making matters more complicated for companies but also bringing new business opportunities and possibilities to reduce cost and improve customer satisfaction.
Imagine a company that rents gas cylinders for hospitals, manufacturing, industrial welding, oxygen for airlines, Etc.
Normally each client orders every month and when the cylinders are consumed they place a new order which not only takes time but they run the risk of running out.
IoT devices can accurately monitor the usage of the gas and rather than the client placing an order the vendor can accurately plan when gas needs to be replaced, this level of Entitlement and usage granularity not only improves customer satisfaction but eliminates human error and dramatically reduces costs in both sides, the client does not have to bother ordering new supplies, and or risk forgetting to do so, but the vendor can properly plan the deliverable routes to make them more efficient and reduce costs.
Yet another benefit of a Usage Data Platform is being able to track Assets and allocate values, after all since accounting rules state that you can't show items as Asset in the Balance Sheet if you don't' know where they are located, With IoT sensors the UDP can tag and allocate the value and location of a particular asset making the CFO even happier!
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