CAN FINANCE LEADERS BE THE RESURGENT DRIVERS FOR TRANSFORMATION?
The Resurgent Finance Leader research conducted on behalf
of Board (Board is the world’s #1 Decision-Making Platform) by independent research organization Vanson Bourne surveyed 600 senior finance decision-makers from APAC, EMEA and the USA, across organisations in Financial Services, Retail, Distribution & Transport, Manufacturing & Production, Public Sector, Media Leisure & Entertainment, Energy, Oil/ Gas & Utilities, Business & Professional Services, IT, Construction & Property, Consumer Services, plus other commercial sector industries.
As with so many aspects of business, the role of the finance function is changing as digital transformation permeates the entire organisation. Companies as a whole want to move faster, make more accurate decisions and see quicker returns in order to compete with agile competitors for ever more discerning customers.
That means these enterprises need all their departments, from front to back office, operating in a similar fashion. For finance, that demands a shift from scorekeeper to performance driver. It means aligning finance with operations, not to cut costs, but to identify efficiencies to reduce resource wastage (including the time it takes for ideas to become actions). It means integrating financial planning and analysis so that business decision-makers know they have access to the appropriate data and insights. It means having the ability to identify, model and work out responses to multiple unknown future scenarios – a critical trait in a world riven with unpredictability. It means combining planning, analytics and business intelligence in digital tools that accelerate decision-making by giving finance leaders the data they need to make the right choices.
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of finance leaders believe real-time scenario planning tools are important.
Being able to integrate with other functions, and with other teams across the office of finance, is critical if finance is to realise its opportunity as the home of strategic data.