The role of the CFO is evolving from its accounting roots to one of strategic business partner. Senior finance executives still take the lead when it comes to budgeting and financial reporting, but they are also collaborating with the C-suite and other stakeholders to hone future business plans and forecasts.
The transformative nature of the CFO job — and a more inclusive planning and forecasting process — requires broader visibility into corporate performance management systems to provide a clear view of where the company stands and where it is likely headed.
The ability to bring finance and operational data together is critical for accurate budgeting and forecasting that result in more agile business models. In many organizations, the challenge is operational silos. One set of systems — ERP, GL, CRM, HR — generate and store the company’s data. A separate group of applications, which are often Excel-based, analyze and model the financial data in the form of reports, graphs, and input templates.
There are also gaps in the skills sets needed to modernize the finance function. The finance team is comfortable with spreadsheets, so there may be resistance to learning new tools. In order to broaden access to corporate performance analytics, modern organizations demand planning solutions that work in Excel, on the Web, and on mobile devices.
This eBook explores how CFOs can lead the digital transformation efforts necessary to move the business forward and maximize the impact of corporate performance analytics. Topics include:
- The pain points for realizing business processes improvement, including the cumbersome budgeting and planning process that make it difficult to blend financial and operational data
- The importance of a finance-led corporate performance management strategy that supports redesigned workflows and collaborative planning across multiple departments
- The best strategies for ensuring an ROI on a CPM implementation and developing data dashboards that maximize the investment and “democratize” data
- The role of emerging technologies such as AI and machine learning in analyzing and forecasting corporate performance management
Download now to learn more.