CFOs and finance professionals are being pressured to deliver value-added services while lowering their budgets, yet may not be working with the systems they should be. Relying on outdated IT software and processes is not providing them the higher value analysis and insights they need. Accurate information stemming from a “data-driven” approach is what will lead them to profitable decision making. Here are six articles to help CFOs and their finance teams overcome the complexities of data-management to identify opportunities and save money.
A Manual for the Data-Driven Finance Chief
The quicker CFOs can uncover insights, the quicker they can make insight-driven decisions and take actions that can improve their company’s performance. But while technology is getting faster (and cheaper), some companies are struggling to move their organizations at an equivalent pace. Read more.
Mastering Predictive Analytics
CFOs are know for having analytical minds. But how do they apply that trait to capitalize on the vast amounts of customer and performance data now at their fingertips? Mastering “predictive analytics” — the practice of organizations extracting information from existing data sets in order to determine patterns and predict future outcomes and trends — is not easy. Read more.
Why CFOs Should ‘Own’ Analytics
As an organization you should use analytics to understand who prices well and why, what practice areas have stronger margins than others, and linkages between talent assessment and contributions to performance. Analytics has also provided valuable insight for understanding clients, creating market differentiation, and identifying new services and revenue streams. Read more.
The Data Management Imperative
Who’s responsible for the data you need in order to give your organization an accurate snapshot of where it is and how it’s performing, as well as actionable insight that will help it achieve its goals? This question, and its answer, are critical in today’s increasingly data-rich business environment — and according to Accenture managing director Paul Boulanger, there is only one right answer. Read more.
Time to Clean Up Your Master Data
Businesses have always needed to create and maintain accurate and complete records of their operations and finances. Accurate, complete, and up-to-date information has become an essential foundation for business operations. Over the past two decades, businesses in the developed economies probably invested well over $500 billion in information systems that both manage and depend on this data. So why do we still have so many issues with trusting the results? Read more.
Five Ways to Tie IT Spending to Business Growth
There are indications that the economic malaise that has been hanging over Europe for the past six years is beginning to lift. CFOs across the continent are feeling more buoyant about growth prospects. They are also aware that information technology is essential to driving business transformation and bottom-line success. Currently, just 30 percent of IT spending is focused on improving the businesses. Read more.