Finance Indaba 2016: Stay ahead of the curve with Profectus Africa
"It is clear that the techniques for detecting trends, and better predictions using Big Data, haven't as yet been mastered," says Chris Kamffer, director of Profectus Africa, a gold partner at the Finance Indaba Africa 2016 on 13 and 14 October 2016 at the Sandton Convention Centre in Johannesburg.
In the coming weeks and months, we will be chatting to all the Indaba partners, asking them why they are joining the event and what their most important message for finance professionals is.
Do you want to hear more about how Profectus Africa can help you utilise Big Data to its full capability? Do you want to be informed about the latest and greatest in finance? Then don't miss the Finance Indaba Africa 2016.
Why did you choose to partner with the Finance Indaba?
"The Finance Indaba is a world-class event, giving our partners, our clients and ourselves the opportunity to network with the cream of South African finance professionals and decision-makers in South Africa."
What will you be showcasing at the event?
"The event affords Profectus Africa the opportunity to showcase our new and unique range of rebate deal management services and software, contract compliance software, accounts payable and VAT review services. These services are unmatched in the South African market."
What can you help South African finance professionals and firms with in 2016?
"Increasing emphasis is being placed on compliance and transactional certainty in the current climate. Profectus Africa delivers on these fronts by looking at historical data, analysing and collecting monies due to clients, and can assist in deploying software solutions to prevent similar errors in future.
"In doing so, long-term shareholder value is enhanced by the recovery and prevention of financial leakage.
"What is absolutely clear is that the popular desktop software tools, including spreadsheets, are no match for the challenges posed by Big Data and that more robust and innovative solutions are required.
How are South African companies dealing with the influx of Big Data?
"In our view, Big Data is not nearly being utilised to its full capability. Stock outages, obsolete stock, the wrong-sized trousers on the racks It is clear that the techniques for detecting trends, and better predictions using Big Data, haven't as yet been mastered.
How important is R&D and innovation to Profectus?
"R&D is a core part of our business. Being a technology company that also renders an accounting service, we have to keep investing in R&D to stay ahead of the curve."
"Every time we find a new way to discover an error, we add an algorithm to look for similar patterns in the future." Has this mode of development proven successful over time?
This mode of development - both in terms of our rebate service offering and software - is vital in the services industry. Client systems change, the commercial environment becomes more complex, tight deadlines, and the sheer volume of data, has forced us to constantly look at new ways of tackling huge problems.
Profectus operates in various territories. Are there any challenges unique to your SA division?
"In our experience, errors and process inefficiencies, occur in all parts of the world. South African companies are no better or worse than, say, their Australian counterparts. Profectus's services and technologies can be applied to every company in the world!
"Our challenge is to keep up with the demand for our services. Over the past 16 years, we have designed solutions to meet market needs and our timing to deliver these services, on the Africa continent, is spot-on."