GAUGING THE MARKET picture of the business , from one moment to the next , allowing them to orchestrate change within their department and also across the business .
Indeed , it is often because of inadequate tools that the CFO delays making rapid decisions and is sometimes seen as a blocker rather than an agent of change . Without data , the dichotomy between fast decision-making , and accurate decisionmaking is very real . After all , it is the CFO ’ s role to query expenditure and explore how each pound will perform . Moving to a datadriven environment , where automation and analytics are spoken fluently can quickly help to change this perception .
Thankfully , many of today ’ s complex accounting problems have been solved . Cloud solutions have been designed to allow the CFO to analyse carefully considered reports , rather than embark on a scavenger hunt to tie disparate data together into a coherent story . This undeniably gives the CFO scope to develop the more strategic aspects of the role : to use the insights gained from the financial data to provide more nuanced input into business decisions , to be able to advise on growth strategies or report in more detail on project initiatives , providing the unique insight delivered by reporting to enhance the experience learned from poring through the raw numbers .
Adopting a modern mindset to technology
But benefiting from the technology requires the correct mindset . Because the finance team is now no longer tied up with mundane and repetitive tasks , no longer required to spend weeks on data entry and can now use one-click consolidation , progressive CFOs can now begin thinking about how to redeploy their teams to capitalise on their talents and qualities . Individuals no longer employed in routine and mundane work can provide a valuable resource to assist other departments , in particular providing agency services to colleagues in the supply chain , sales and acquisitions departments and by providing better , faster and more accurate
There are many business considerations that only the CFO is in a position to offer the CEO .
management reporting that can improve business outcomes .
Only when CFOs can tame the reporting and accounting processes will they be able to really deliver on the promise of adding strategic value to the business . There are many business considerations that only the CFO is in a position to offer the CEO . But this requires having the correct tools in place . Once they are , increased responsibilities no longer seem like a burden , but rather an opportunity . � www . intelligentfin . tech
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