The Ledger
Curated content foranalytical business leaders
Rethinking Finance Processes With Advanced Analytics
June 14, 2018
Most CFOs are locked in a battle of trying to get away from a past of data in silos, single-perspective spreadsheets, limited insights, and multiple versions of data in order to steadily rebuild the foundation to strengthen its credibility with actionable intelligence across the business. Finance leaders are realizing that transparent, limitless, and thorough data is always a highly valued asset, but this data alone cannot deliver the level of intelligence CFOs want. The finance organization needs to weed out data assets and practices that may be getting in the way of the advanced analytics capability and noise-resistant information required to drive more intelligent decisions with reliable data.
Read More at The Digitalist by SAP >
Traditional Data Analysis Won’t Cut It Anymore
June 13, 2018
Donald Allan, CFO of Fortune 500 toolmaker Stanley Black & Decker, discusses his thoughts on the increased use of advanced analytics in the manufacturing industry in a recent CFO Magazine article. Traditional data analysis is still often used, but finance professionals need to add analytics into the mix for there to be any real value extracted from the analysis process. It requires looking at competitor pricing, costs, and at manufacturing-cost alternatives from vendors and things like that. With that data, using artificial intelligence and machine learning algorithms, insights can easily be developed for evaluating your business model.
The Long-Awaited Benefits of AI Are Finally Being Realized
June 12, 2018
“After years of hope and promise, 2018 may be the year when artificial intelligence (AI) gains meaningful traction within Fortune 1000 corporations. This is a key finding of NewVantage Partners’ annual executive survey, first published in 2012. The 2018 survey, published on January 8, represented nearly 60 Fortune 1000 or industry-leading companies, with 93.1% of survey respondents identifying themselves as C-level executive decision-makers. The main finding of the 2018 survey is that an overwhelming 97.2% of executives report that their companies are investing in building or launching big data and AI initiatives.”
Read More at The Sloan Review >
The Role of the CFO is Ever-Evolving
June 11, 2018
With new technologies and AI evolving the finance world, the role of the CFO is evolving along with it. These days, the position calls for a “purpose-driven” CFO. This means that the C-suite needs to understand what motivates them, and how that will benefit the overall company. This focus on responsibility is a good thing, especially for CFOs. But it also has a flip-side where the tendency is to think primarily about meeting the organization’s goals, and within that context, meeting one’s personal goals. A focus on purpose helps broaden the perspective.
Read More at The Digitalist by SAP >
