Accounting & Tax

The Hidden Costs of Static Planning that CFOs Need to Know Now

As modern CFOs move beyond accounting to become business performance leaders, the awareness of missed opportunities caused by static planning processes has escalated. CFOs who fail to guide their companies with active planning processes are seeing negative impacts on their organizations’ ability to capture profit and grow.

Reliance on spreadsheets and legacy on-premises applications constrain the organization to static planning. These legacy planning environments are inflexible and brittle, limit collaboration, and fail to deliver insights to drive decision making.

Often, CFOs are not even aware of how manual processes such as the gathering and consolidating of data, repetitive, cumbersome email-based communication, and complex report creation put a drain on finance resources, one that keeps much of the finance team’s time locked in low-value tasks.

 

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