This new episode in our ongoing series on the Digital Solutions Economy (DSE) provides an overview of how DSE is impacting Oil & Gas industries and the overall energy sector. Click here to read episodes on DSE in the Utilities Industry, and DSE in the Medical Devices Industry.

In past blog posts, this series on the Digital Solutions Economy (DSE) has discussed Entitlement Management, Integrating FP&A with DSE, Implementing Anything-as-a-Service (XaaS), DSE and RevRec Compliance, DSE Data Volume, Velocity, Density and Complexity, Embedded Analytics for DSE, and much more.

This new episode moves into focusing on how various industries are being impacted by the overall shift to subscription-based DSE offerings - starting with a look at the utilities segment.

Do you know where your data is?  Actually, it is everywhere.

According to Statista, the total amount of data created, captured, copied and consumed globally is projected to grow to more than 180 zettabytes by 2025, from the 64 zettabytes in 2020.

There has been a lot of focus recently on supply chain issues because of the global challenges from the pandemic, conflict in Ukraine, and economic uncertainties.  However, the supply chain is only a part of the overall picture that companies need to consider for fueling sustainable business success.  This blog post zooms out for a more holistic view of the entire Value Chain, which encompasses the full gamut of enterprise-wide processes.

One important side effect of the ongoing trend toward globalization is the need to comply with a range of different accounting principles as well as with disparate reporting and compliance mandates.  For example, a company with branches doing business in the United States and the European Union will need to comply with both GAAP and IFRS accounting principles.  They also likely will face different taxation structures for specific countries or even local jurisdictions.

Furthermore, these challenges are not a "one-off" proposition because the need to serve disparate accounting and reporting requirements repeats itself for every periodic closing process including monthly, quarterly and annual reporting.

This new installment in our ongoing series on the Digital Solutions Economy (DSE) focuses specifically on the importance of Entitlement Management.

In too many instances, as CIOs and CFOs implement new software to improve finance processes, the expediency of getting systems up and running quickly can create isolated silos of inefficiency across the enterprise-wide technology landscape.  

The resulting build up of patchwork software systems is sometimes referred to as "Digital Debt".  As with real world debt, Digital Debt must be serviced with high on-going costs; primarily in the form of low productivity, time-consuming data reconciliation,  lack of end-to-end visibility and continuous maintenance updates.

As detailed in numerous previous blog posts in this series, the Digital Solutions Economy™ (DSE) is creating sweeping change and new opportunities for companies in a wide range of markets.

This episode focuses on how DSE business models present new challenges with regard to Financial Planning & Analysis (FP&A) processes, which require enhanced agility, scalability and end-to-end integration to handle DSE's inherently dynamic requirements.

During the past few years, supply chain challenges have surged to the front-of-mind for an increasingly wide number of people.  Supply issues that used to be of concern mostly to behind-the-scenes experts in logistics, transportation and inventory management have now become catch phrases for the mainstream media, retail shoppers and virtually anyone who is faced with empty store shelves or long delivery times.

Supply chain transformation was previously identified as one of the Five Key Trends to Watch in 2022 and, if anything, it has become even more crucial in the first few months of the new year.

This important issue was previously explored last year in Are You Ready for "Carbon Accounting" Compliance? and also identified as one the Five Key Trends to Watch in 2022.  A subsequent blog post specifically addressed How Can Carbon Accounting Impact the Value of M&A Deals?