For CFOs, the lure of the destination — genuine data-driven decision-making that drives enterprise-wide innovation — is worth the difficulty of the journey.
A CFO who can accurately report on the financial position of his or her organization with great detail and insight — and on a timely basis — is empowered both immediately and in the future. For today, that accurate financial snapshot clarifies competitive positioning; for tomorrow, it enables planning that is actionable, constant, and fluid.
For most CFOs, unfortunately, assembling a financial snapshot that contains “great detail and insight” can be a slog. They don’t have the technology or processes to paint an accurate portrait of the business or, if they do, they can’t generate it quickly enough for it to be of great use. What is needed at these companies? Nothing less than a transformation of the way finance handles and uses the data the organization generates.