Imagine you’re at a restaurant with friends. You order a small salad, while your companions choose the most expensive items. You would probably ask for separate checks, since splitting the bill evenly would be an inaccurate way to allocate expenses. The same goes for your corporate accounting. You can’t simply… [READ MORE]
In the first part of this blog, we looked at the impact of automation and machine learning on the CFO function. In this article, we take a deeper look at specific use cases across finance, and what they mean for traditional, day-to-day finance activities. Improving Financial Planning and Analysis (FP&A) If you… [READ MORE]
Here’s how more advanced methods of automation, including machine learning, can help CFOs transform the finance function to be more of a strategic advisor to the business. In a recent McKinsey survey, only 13 percent of CFOs and other senior business executives polled said their finance organizations use automation technologies, such as… [READ MORE]
Business leaders know that people are usually the biggest expense in any organization, accounting for 70-80 percent of a given employer’s spending. And, in today’s fast-paced and fluid employment environment, HR teams are facing increased pressure to optimize the value of their organization’s people investments. This takes insights into people… [READ MORE]
If you ask someone why they still carry a flip phone, push a lawn mower, or use a computer from 1997, they might say upgrading is too much of a hassle. After all, if it ain’t broke, don’t fix it. Take spreadsheets. You might spend time every month fixing broken… [READ MORE]
For FP&A, financial reporting is a tricky balancing act. If you share too many reports, business leaders may give up reading them all together. They are saturated. In a study by the American Institute of CPAs and the Chartered Institute of Management Accountants, 32% of C-level executives said more data has made… [READ MORE]
CFOs know better than anyone that time is money. So why do they waste so much of it in meetings? More than half of finance teams average nine or more hours each week in meetings, according to a survey of CFOs, and 25% sit through a whopping 13+ hours. The wrong… [READ MORE]
As just about any finance professional knows, there’s a huge need for FP&A teams to become more strategic partners to the business. When we surveyed more than 300 CFOs for a report on how FP&A can play a broader role in guiding corporate planning and performance, 75% said they wanted their… [READ MORE]
Late nights. Working over the weekend. Learning the names of every barista within a quarter-mile radius of the office. If you’re in charge of creating financial reports, you don’t need me to tell you how much work it takes to keep information updated and accurate. That’s because you’re likely logging… [READ MORE]
I write often about change. I note frequently how it is not just inevitable, but accelerating. I do this because change is the defining force in business today, and it’s a force that creates both challenges and opportunities. Though for the 75% of finance executives who say their organizations aren’t… [READ MORE]
