According to the latest High-Performance Finance report from Accenture Strategy, digital technologies such as the Cloud, SaaS, Big Data, Mobility and Social Media, are having profound impact on the finance function’s performance.
CFOs are driving businesses to invest in digital technologies: now the CFO has a leader role in the adoption of these new technologies.
The Accenture study highlights five essential points:
1) The finance function has become very performant over the past five years, thanks to the adoption of new technologies and the improvement of financial processes.
2) Business complexity is the biggest challenge today for CFOs: legislative rules, investor demands, complicated process and procedures, economic and social risks, etc…
This challenge represents an opportunity for CFOs to streamline and simplify the organization by optimizing processes and operating models.
3) The main objective of financial functions is to boost growth through investment, rather than cost control.
The CFO’s position has evolved in the core business: Their influence has become more important in strategic decisions. Also, companies turn to the CFO for guidance about Digital and technology investments.
4) Digital technologies have a considerable impact on financial performance: the CFO has a unique role which combines finance, technology and strategy.
5) Financial managers who implemented an efficient model, have gained in influence in the highly strategic activities of the business.
Shortways helps financial functions become more efficient, through:
– the adoption of new technologies such as EPM (SAP FC, SAP BPC, Oracle Hyperion, Oracle Planning, IBM TM1, etc…) as well as new processes, procedures and operating methods.
– the good-quality of data typed-in by users.
For more information, you can contact us info@shortways.com or at +33 (0)2 43 53 18 81.
You can see Accenture the infographic here:
Sources:
– Accenture 2014 High Performance Finance Study—The Rise of Digital on the CFO Agenda—Infographic
– The CFO as Architect of Business Value: Delivering Growth and Managing Complexity