CFO Dive: CFOs to Combat Downturn with More Automation

“Automating part of their teams’ workload is one step CFOs can take to cut costs and improve efficiency in the face of an economic dip. When it comes to financial departments, automation can be applied to categorize expense reports in real time, for example, making previously manual and time-consuming processes more accurate and efficient.”

Read More at CFO Dive >

CFO Insights: Are You Ready to Make the Switch to Lights Out Finance?

“Shifting from automated to autonomous allows the finance function to achieve an exponential level of efficiency, reduce costs, and become more agile—while digital technologies autonomously execute processes end to end. Human intervention is the exception, freeing up finance professionals to shift their efforts to higher-value strategic activities and to generating more significant insights for the business.”

Read More at Deloitte >

CFO Dive: Splurge on Automation Before Recession Hits, Says Former ‘Serial CFO’

“Automation in areas such as FP&A can go further than simply reducing the need to hire new staff or cost-cutting measures, Ross said — it can also help to strengthen business outcomes, allowing finance teams to collect data more swiftly and to better consolidate their future strategies.”

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FP&A Trends: Automation in FP&A: If You Want to Go Far, Go Together

“Automation will allow organisations to have:

• A single source of truth
• Automated reporting and analytics
• Seamless collaboration between teams
• Easy Scenario Planning and rework
• Permissions and audit trail
• Time for analysis and recommendations”

Read More at FP&A Trends >

CFO Journal: Automated Financial Forecasting Built on a Foundation of Data

“The effort requires CFOs to take an end-to-end approach to data management, process design, and talent—at the same time. Integration across all three is critical to really enabling automated, real-time financial forecasting. The prize is the ability to produce forecasts on-demand, leaving behind an environment where it takes so long to build quarterly forecasts and annual plans that key drivers may shift, impacting the forecast.”

Read More at The Wall Street Journal >

CFO Magazine: Data Integration Drives Successful Mergers

“It’s far too easy for a deal to fail without a data integration game plan because of disparate data and disconnected systems. However, choosing the right approach to data integration depends on several variables, including available resources, timelines, and complexity, to name just a few.”

Read More at CFO Magazine >

CFO Magazine: Using Automation to Supercharge FP&A Teams

“How do you know if your company actually needs or stands to benefit from automation? If your team is over-reliant on spreadsheets, spends hours manually entering data, and has trouble processing and disseminating that data to decision-makers, you could be a prime candidate.”

Read More at CFO Magazine >

SF Magazine: CFOs’ Evolving Views of Tech

“Pandemic-induced changes exposed the inefficiencies of some finance teams that relied on manual processes and outdated systems to complete their activities each month.”

Read More at SF Magazine >

The End for Manual Accounting Processes

“Manual processes present too high a cost for accounting teams, CFOs, the broader business, and investor confidence. They sap time and resources, elevate risk, place a shadow over audit and compliance processes, and burn out talent. But more than that, in today’s fast-moving landscape—where companies are rolling out new business models, conducting mergers and acquisitions, and looking to direct more resources into planning and analysis—they can stymie business performance.”

Read more at Strategic Finance magazine >