#197 Data Challenges Facing The Finance Function with with Adam Rakich, Author “The Business User’s Guide to Data Integration”

GrowCFO Show

#197 Data Challenges Facing The Finance Function with Adam Rakich

https://open.spotify.com/episode/0MX8X2ihqTsMURRfQPBBiS

Adam Rakich, the esteemed author of “The Business User’s Guide to Data Integration,” joins us for a deep dive into the pressing issues surrounding data integration in the finance sector.

Adam is Senior Director, Strategic Alliances at DataBlend, a finance-focused integration platform as a service. Most of his career has been in technology companies serving the office of finance, in budgeting and forecasting, financial consolidation and reporting.

His experiences with the data challenges facing the finance function led him to write The Business User’s Guide to Data Integration (available on Amazon Kindle), a guide designed to help non-technical people understand their options for data integration, questions to ask, things to think about – and ultimately feel confident that they can solve their data problems.

In this episode, Adam brings his extensive expertise to the table, discussing the common challenges finance professionals face when it comes to integrating data across various platforms and tools. He sheds light on the necessity of a comprehensive approach to data integration, emphasizing how crucial it is for businesses to employ effective integration tools and platforms to streamline their operations.

Adam and Kevin also explore the transformative benefits of automating manual data processing in accounting. They discuss how automation can lead to significant time savings and improved efficiency, allowing finance professionals to focus on more strategic tasks. Additionally, the conversation covers the critical aspects of understanding the costs and potential risks associated with custom integration solutions, alongside the imperative need for accuracy and transparency in integration flows.

Key topics covered include:

• Data integration challenges in finance, particularly for accounting and reporting
• Automating manual accounting tasks to save time and reduce errors
• Automating data integration for timely reporting
• Custom vs. built-in integrations for software systems
• Integration flow best practices for data accuracy and synchronization
• Data integration challenges and strategies for business users
• Recommendation of Adam Rakich’s book “The Business User’s Guide to Data Integration”

https://www.youtube.com/watch?v=Lqoi9NhVdZM

Links

• Adam Rakich on LinkedIn
• Kevin Appleby on LinkedIn
• GrowCFO Mentoring

Timestamps

• 0:00 – 0:35 Introduction and background of Adam Rakich
• 0:35 – 1:30 Data integration challenges in finance
• 1:30 – 3:15 Automating manual accounting tasks
• 3:15 – 6:30 Automating data integration for timely reporting
• 6:30 – 11:00 Custom vs. built-in integrations
• 11:00 – 15:00 Integration flow best practices
• 15:00 – 20:00 Data integration challenges and strategies for business users
• 20:00 – 21:00 Recommendation of Adam Rakich’s book “The Business User’s Guide to Data Integration”

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