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Elevate your Finance Team with Business Process Simulation

Finance teams can use a Business Process Simulation (BPS) based Digital Twin to develop a competitive advantage by reacting to volatile environments and other changes quicker, more accurately, and more strategically than competitors.

With a finance twin, companies can take the first step towards creating
a Digital Twin of the Enterprise (DTE) while deriving immediate benefits. Digital Twins allow finance teams to forecast and analyse, for example, revenues, costs, and margins as part of flexible, rolling, and ad-hoc budgeting exercises and strategic performance management initiatives.

They help optimise pricing and contracting, make or buy, target market, and product portfolio decisions.

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What are the Benefits of using Silico for your Finance Team?

With a Digital Twin of your financials, your team can generate actionable insights that drive business outcomes. Take advantage of emerging opportunities and mitigate the impact of adverse environmental changes as quickly as possible.

Generate actionable insights:

Optimise decisions at the lowest level, like pricing towards individual customers, to maximise organisation- wide outcomes.

Align your organisation:

Overcome organisational silos and integrate purchasing, production, sales and more to connect your entire organisation with a single source of truth and purpose.

React instantaneously to new situations:

Allow decision makers to monitor and optimise financial decisions using insightful, interactive, real-time dashboards

Free-up time for value-adding activities:

Let your analysts spend their time on developing valuable recommendations and insights rather than collecting data and creating new models.

How to get started with Business Pro- cess Simulation for your Finance team?

Silico can develop a BPS model of your finances in as little as four weeks with:

Information about the relevant parts of your organisation, like products, materials, and customers, and their relationship from, for example, existing spreadsheets or discussions with your team.

An understanding of what inputs, outcomes, and problems decisions makers want to simulate and evaluate virtually.

A data sample to develop, test, and parameterise the BPS twin.

A full Digital Twin of your finances also requires:

Realistic values for relevant variables such as processing times and available resources.

An understanding of decisions and problems of your operational decision makers.

Let’s take a look at how a Finance simulation model works with Silico:

Build the Digital Twin:

Develop a causal model of your finances that reflects how inputs such as order volumes and material prices affect outcomes such as revenues and margins.

Connect to real-time data:

Integrate the Silico twin into existing systems, such as customer relationships management (CRM) and enterprise resource management (ERP) systems.

Gain FutureSight:

Test decisions virtually and identify optimal courses of action for, for example, pricing, make or buy, and product mix decisions.

Monitor and Control:

Forecast your financials, such as your margin, in varying circumstances and scenarios, including fluctuating commodity prices and inflation, and get alerted to developments ahead of time.

Grow towards a DTE:

Expand the financial twin to other parts of the organisation to develop a full DTE at minimum risk, time, and cost to generate value in new areas and improve the initial finance twin itself.

Build the Digital Twin:

Develop a causal model of your finances that reflects how inputs such as order volumes and material prices affect outcomes such as revenues and margins.

Connect to real-time data:

Integrate the Silico twin into existing systems, such as customer relationships management (CRM) and enterprise resource management (ERP) systems.

Gain FutureSight:

Test decisions virtually and identify optimal courses of action for, for example, pricing, make or buy, and product mix decisions.

Monitor and Control:

Forecast your financials, such as your margin, in varying circumstances and scenarios, including fluctuating commodity prices and inflation, and get alerted to developments ahead of time.

Grow towards a DTE:

Expand the financial twin to other parts of the organisation to develop a full DTE at minimum risk, time, and cost to generate value in new areas and improve the initial finance twin itself.

Make Finance work for everyone.

How can different roles interact with Silico?

CFOs

While some people may view the role of CFO as primarily financial, it is also important to have a strategic vision for the company. This is where a Business Process Simulation (BPS) based Digital Twin can be extremely helpful.

Pricing & Contracting

Pricing & Contracting is a critical function for any company, but it can be particularly challenging in fast-paced, volatile environments. A Business Process Simulation (BPS) based Digital Twin can help companies develop a competitive advantage by reacting to changes quicker, more accurately, and more strategically than competitors.

Sales

Sales teams can use a Business Process Simulation (BPS) based Digital Twin to develop a competitive advantage by reacting to volatile environments and other changes quicker, more accurately, and more strategically than competitors.

Production

Digital Twins can be used to support a wide range of business decisions, from long-term strategic planning to real-time operational decisions. By understanding how changes will impact business performance, organizations can make more informed decisions that can lead to a competitive advantage.

Procurement

BPS provides a complete view of an organization's procure-to-pay process and can be used to optimize that process by identifying inefficiencies and opportunities for improvement. Additionally, BPS can be used to simulate different scenarios in order to find the optimal solution for a given situation.

Download our Business Process Simulation Guide

Are you looking to learn more about Business Process Simulation and how it can help you to build a digital twin of the enterprise? Download our free guide to get up to speed:

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