Business managers at companies today are expecting more from the chief financial officers and their finance teams, and more from the close process. These general managers are facing challenges from all sides: profit margin pressures, new competitors, disruptive technologies, changing consumer tastes, and even threats from private equity companies. That means closing the books, delivering the numbers faster, providing additional insights, and getting the information out in easily digestible formats are all critically important tasks for today’s CFOs.
William Marchionni, senior director with the Hackett Group, recently spoke during a CFO webcast, “The CFO Playbook on Strategy: How to Overcome New Challenges of Streamlining the Financial Close,” providing some insights for CFOs. In the webcast, sponsored by Workday, Marchionni gave advice on the recent tax legislation and other close-related issues that CFOs are currently grappling with. A former CFO, Marchionni advises CFOs, comptrollers, and other finance leaders on financial and management reporting, revenue and cost management, capital management, process reengineering, and strategic planning.
Download this white paper to learn about seven areas related to the financial close that CFOs should be thinking about.