LEADERSHIP
FOR EVERY BUSINESS , the role of the finance team is critical — ensuring the business understands its financial past and present , as well as its next steps moving forward .
In the age of digital disruption and increasingly competitive markets , the role of the finance team extends well beyond the books . Organisations are demanding that CFOs evolve to become strategic leaders who are at the centre of critical and new business decisions .
In order to make this transition , CFOs must harness the power of actionable data and the more sophisticated analytics tools that are now available . Taking advantage of technology that aims to modernise and streamline functions is crucial .
By building a good technology infrastructure , finance executives can help company executives make better decisions . According to the Q3 2015 CFO Indicator Report from Adaptive Insights , 69 per cent of CFOs believe keeping data siloed is the biggest financial mistake a business can make .
The global survey of 435 CFOs also showed that while financial data is their domain , CFOs are increasingly being asked for non-financial data
— namely human resources and sales data — by their CEOs . Combining data across the organisation can create a holistic view of the business , which is a vision that is no longer a ‘ nice to have ’ but a ‘ need to have ’ for CFOs across the globe .
Here are four ways CFOs can draw on technology to secure their place in setting the strategic vision of the
8 February 2016