The Ledger

Modern CFOs Are Leading the Charge to Improve Cost Management Outcomes

“CFOs can improve savings programs with the right architecture and information systems in place.”

In the past, the focus of cost management strategies has been on saving and cost-cutting to fund growth and profitability. Traditional approaches to cost management were streamlining business processes, reducing external spend, improving policy compliance and integrating organizational structure. Although relying on tactical improvements to achieve strategic-level cost targets is likely the primary reason many cost programs haven’t been successful, there are other significant barriers as well. Deloitte’s 2019 Global Cost Survey found that many cost management programs fail because they lack the proper architecture― outdated ERP systems, disparate legacy tools and poorly structured cost management programs. Armed with intelligent technologies and a forward-thinking mindset, leading CFOs are shifting their focus to fund the digital transformation needed to develop the agile business models that position companies to grow in digitally disrupted markets.

Read More at The Wall Street Journal >

Navigating the Cost Stages of Your Business

“Transformative companies know that having access to accurate cost information is more than just a novel exercise, but the insights can drive real competitive advantages.”

In business and in life, every single decision comes at a cost. Fully understanding each cost associated with a choice is a critical activity for any company looking to compete and grow. Cost stages in a business are like life stages – as you grow, you must refine each step in the process to thrive. Each stage requires different tools and capabilities designed to handle everything from minor bumps and bruises to major interventions. To make better business decisions, finance leaders must first improve the way they leverage their cost data to propel long-term, sustainable growth.

Read More on LinkedIn >

How Consumer Products Companies Can Thrive in Digital Transformation

Consumer products organizations are embracing robust technologies to enable their digital transformation goals and to gain greater operational efficiencies and competitive advantages. These tools integrate disparate systems to support a single environment for robust analytics that provide meaning business insights and can ultimately be the difference between success and failure. To be successful, growing consumer products companies should adopt a standardized solution flexible enough to work across multiple organizations to alleviate the struggle of integrating newly acquired businesses. And beyond the ability to integrate new businesses, consumer products companies want to increase their speed to benefit of acquisition integration and implementation.

Read More at The Digitalist by SAP >

Data-Driven Decision-Making is Fueling a Competitive Advantage

Many companies have adapted to a “data-driven” approach for operational decision-making. Data can improve decisions, but it requires the right platform to get the most from it. The rapid adoption of intelligent technologies in today’s marketplace has completely turned decision-making practices on their heads. Traditionally, businesses depend on everyone’s opinion before making big decisions. However, it comes with the risk of slowing down the decision-making process in a hyper-competitive environment. Modern organizations have employed big data technology in their operations to help them analyze the consistently generated data. By having access to real-time accurate data insights, decision makers can make meaningful and strategic decisions faster.

Read More at Forbes Magazine >