There is a burning need for FP&A teams to become more strategic partners to business. When we surveyed more than 300 finance leaders for the Adaptive Insights CFO Indicator Q2 2016 report, 75% said they wanted their teams to have a significant and strong impact on their organization—but only 46% believed they could have that kind of impact by 2017. What was the disconnect? The chief reason cited was a lack of time for strategic planning.
With 2017 now underway, it’s clear that visionary finance leaders need to reimagine the very ways that FP&A teams function and collaborate—and usher in a new shift in culture. Kerman Lau, vice president of finance at Adaptive Insights, and Hitesh Peshavaria, a partner and advisory leader at Deloitte, recently discussed this in a webinar. They offered practical steps that FP&A leaders can take to realize a culture of analytics—where FP&A spends less time on manual and transactional tasks, and more time on analysis and generating strategic insights.
Love them or hate them, KPIs are the backbone of your business.
KPIs, or key performance indicators, can help you understand if your company is on the right track for success—and if it’s not, where to focus your attention. No matter what it measures, the aim of any KPI is to bring about improvement.
In addition, today’s finance leaders want to spend more time thinking about frameworks for measuring results in the form of KPIs and using these KPIs to guide course correction to drive business performance.
The business world has changed, and the CFO role is evolving too, as Adaptive Insights Founder and Chairman (and veteran CFO) Robert S. Hull often shares. In fact, perhaps no CXO role has changed more within this new business landscape than that of the CFO. On top of the traditional responsibilities of closing the books and producing financial reports, today’s CFOs are increasingly called upon to provide deeper analytical insight into the business. This new charter means finance needs new tools and a new focus to not only view, but also efficiently gather and analyze data from across the company—at a faster clip.
In this new world, CFOs:
Spend less time looking in the rear view mirror and more time looking toward the future
Drive their organizations toward a single source of truth to reduce data debates
Engage their formidable analytical skills to support business decisions in real time
Each New Year marks the inevitable onset of new trends, jump-starting the unofficial task of establishing a new set of do’s and don’ts. In 2014, some projections focused on the impact of skyrocketing mobile usage on businesses, Bitcoin’s volatile but consistent growth, and how user-driven marketplaces would continue to flourish as venture potential. Others concentrated on predicting the growth rate of the overall cloud market, the changing role of cloud service providers, and how much companies would spend on big data analytics.
And as is the nature of trends, the idea of what will be impactful in 2015 most definitely differs from what was considered influential in 2014. In a Fortune Magazine column last week, Sergio Monsalve of Norwest Venture Partners, an Adaptive Investor, offered his predictions as to which technology megatrends will define 2015. Adaptive Insights Senior Director Paul Turner also weighed-in with his 2015 cloud industry forecasts.
Here’s what we think are the five of their most interesting trends to track throughout 2015. You can find the full set of predictions from Paul and Sergio in the Adaptive News Section.
Every successful entrepreneur has at least one best practice in common: They’re resourceful. They learn quickly that it is absolutely critical to maximize scare resources and to appropriately allocate capital and employees to focus on business projects that will generate the highest return.
The challenge is to be resourceful without stifling growth. The most successful entrepreneurs are able to stay within the boundaries of limited resources and still create that foundation that allows the business to effectively scale. Fortunately, you are running your business in an age of incredible technological advances that can help you to accomplish these competing goals. Cloud applications, mobile accessibility, and a wealth of valuable data bring together the best of both worlds for your business.
Things keep getting faster – markets morph and accelerate, acquisitions spring up, divisions multiply, and geographies shift. Somehow, you and your team have to keep up. You must improve your monthly close and speed up your financial consolidation and reporting. You need to feel confident that the numbers you’re submitting to the board or SEC are actually accurate. But how can you do this?
Many companies try to fix the problem by adding more spreadsheets, more big software, or more people. But guess what? None of these solutions are viable. Here are three reasons why.
Here in San Francisco, during Day 1 of Dreamforce ’13, there’s a large focus on how businesses can and should use cloud-based services to gather more accurate insight out of their data analytics. It’s one of the biggest issues facing today’s fastest-growing businesses. That’s why Adaptive Planning and Salesforce are working together to address this issue, from a financial planning, budgeting, and forecasting perspective.
So if you find yourself struggling to set quotas, create sales budgets, or conduct accurate sales planning when using Excel spreadsheets, or spending too much time managing files and not enough time actually analyzing key metrics, you’re not alone. Many companies are still in Excel hell, buried under multiple spreadsheets for sales forecasting and business data analytics. You’re trying to marry the information from your CRM system with your forecast. But because they’re in different places, it’s difficult to adapt and be responsive to business change. Reps aren’t accountable for their numbers and there is little visibility into the pipeline, so the forecast just isn’t accurate. Adaptive Planning is here to help. Here are three tips that can help you to improve your financial processes and see real results.
Click on the banner above to find out how Adaptive Planning providers sales forecasting, quota planning, data analytics, and reporting, completely unified with Salesforce. The result is a higher level of productivity, improved accuracy within financial forecasts, and accelerated quota planning. Adaptive Planning and Salesforce can help you standardize your sales forecasting process and visualize key sales metrics throughout your organization.
We’re keeping it short and direct in today’s post. We’ll stay focused on one word that will tell cloud solution customers almost everything they need to know about the maturity of their solution provider.
And that maturity level is every bit associated with the provider’s ability to continuously deliver both availability and performance in the cloud. That one word is…Transparency.