The Ledger
Curated content foranalytical business leaders
Four Reasons to Adopt Modern Business Planning ASAP
Finance is maturing from a traditionally siloed department of number-crunchers to a strategic and respected adviser to the business. To get there, however, finance needs to leave their manual processes and spreadsheets behind and put modern technology to strategic use. According to recent Adaptive Insights research, 77% of CFOs report that they’ve delayed major business decisions because they lack access to timely data. In today’s fast paced business climate, success could depend on how hard finance leaders work to automate time-consuming manual tasks; move to cloud technologies; and employ better reporting, analytics, and dashboarding technologies. Business speed and agility can now make the difference for a business to be successful or not, and this shift is becoming more prevalent. Innovative finance teams are abandoning spreadsheets in favor of automated, modern solutions that are attainable and accessible.
How Agile Technology Drives Supply Chain Innovation
Change and uncertainty are inevitable in manufacturing. While effective production planning can support manufacturing processes, there will always be uncontrollable factors that are difficult to manage. Manufacturers are dealing with an increased pressure to meet customer demands quicker and more cost-effectively. Visibility of where manufacturers are within the production process is a key driver and control for an organization. Companies that have a detailed overview of every step of the production process are enabling machine integration with business applications. Without this integration, there is potential for reduced machine utilization, less effective enterprise resource planning, reduced consistency in product quality, and failures in many business performance fundamentals. The right technology enables agile and responsive supply chain management.
Read More at The Digitalist by SAP >
Cost Management: The Key to Sustainable Profitability
“Companies that achieve “efficient growth” focus on building scale, not scope, into their cost structures.”
Controlling costs is not a new priority for modern CFOs, but today’s competitive pressures have finance leaders determined to translate their long-term growth plans to sustainable profitability. Finance leaders today distinguish themselves by the cost management practices they implement in their organization, because those decisions can have a tangible impact on shareholder returns and build the foundation for profitable growth. However, most CFOs are struggling to create the conditions for efficient growth due to widespread missteps in their cost management practices. Companies that successfully grow their top line while reducing costs focus on building and reinforcing the necessary scale in the cost structure to secure long-term profitable growth.
Read More at Smarter with Gartner >
Three Ways CFOs Can Be a Catalyst For Change
Largely driven by advancements in technology, today’s corporate finance leaders are expected to work more collaboratively with functional areas in their companies and are well-positioned to positively support enterprise-wide performance and strategy. In order to influence business outcomes, CFOs need to be a catalyst for change by playing a much bigger role in shaping corporate strategy, implementing key initiatives, and providing data, guidance and insight. Modern finance leaders are driving performance in three areas – operations, technology, and talent – and can impact all areas of the business as they continue evolving from finance and accounting managers to strategic business partners.