“The tech revolution that is transforming business is not just about technology. It is about the humans behind the technology, and their ability to leverage these new and exciting tools in ways that add value to the business.”
There are better ways to plan your business finance strategy than on a spreadsheet with old data!
““I’m afraid a lot of firms today do their forecasting on the back of an envelope,” Keating said. “The use of predictive analytics is a very important way to compete.””
“The differentiators that make for an effective CFO take place in a far wider arena: for example, the ability to provide strategic business advice, communicate effectively in new ways and to more audiences, and deploy the latest technologies for maximum efficiency and minimal risk.”
What are your business’ drivers?
How frequently are you measuring the potential impact that external drivers, like inventory constraints and labor disruption, will have?
““We’re increasing the frequency of discussing and evaluating our strategy and goals,” Grinwis said. “Each month we do pulse checks to evaluate if changes are needed to our planning based on a number of drivers, including the overall macro environment—COVID-related shutdowns, competitor trends, market demand—as well as company-specific challenges—inventory constraints, labor disruption.”
The pandemic has made it very clear that yearly or quarterly reporting won’t cut it. Planful embraced a continuous-planning approach that allows the finance team to be more agile and adaptable.”