What is to Come This Year for CFOs?
“In the U.S., growth in 2018 is expected to be supported by more robust consumer spending and business investment, followed by stronger pay and lower wage inflation, meaning Americans’ dollars will go further. Yet when it comes to the impact of fiscal easing and regulatory reform on the U.S. economy, it’s anybody’s guess—although, domestically, businesses are reportedly very optimistic.”
Adapting to Digital for Success
“The digital revolution has changed the way we all do business, but it also changes how we live our lives on a daily basis, including how we buy our goods and spend our time. For financial executives, this influences the way their businesses operate and their daily activities in performing their own professional services. And for those financial executives who are slow to update their skills and knowledge or are slow to change company financial structure and systems, the coming changes will likely cause great harm to their careers and their companies’ success.”
Why You Need More Than a Spreadsheet For Your Finances
Over 1 billion people use Excel for their finance activities. For decades, spreadsheet software has offered a fairly simple, very flexible approach for gathering and analyzing data. That doesn’t work so well these days with the enormous amounts of data that companies have access to. Excel lacks the flexibility and environment to manage all of this data and to give the visibility needed to make strategic decisions. Excel can be an excellent tool for simple productivity, but it becomes an issue when it becomes a financial tool. This is why it is important to find an enterprise cost and profitability system that has the capabilities to enhance your business, instead hindering its success.
Achieving Sustainable and Profitable Growth with the Right Focus
Today’s organizations are laser-focused on sustainable, profitable growth. Unfortunately, it is much easier said than done. To accomplish this growth, companies need to focus on planning, budgeting and forecasting costs. That puts CFOs in the hot seat, as finance and accounting are now expected to deliver strong competencies in financial planning and analysis, while facing intense pressure to work ever faster and more efficiently. To work smarter and deliver better-quality information to support organizational strategies, you need to find the time to benchmark. In finance, the key performance indicators to examine fall under three main categories: costs, staff productivity, and process efficiency.
Better Decisions with Data Visualization
“The best data visualization tools expose something new about the underlying patterns and relationships contained within the data. Understanding those relationships, and being able to observe them, is key to making better decisions. With data visualization, FP&A practitioners have accessible tools for data discovery, which is converted into information, and further transformed into knowledge (insights and foresights).”