The need to innovate in the finance function can no longer be ignored. As the new FSN research unequivocally shows, there is a strong link between innovation in the finance function and performance.
Innovative CFOs and senior finance professionals:
- close their books faster
- produce more accurate financial forecasts
- are less tied to legacy systems and traditional ways of working
Successful innovation requires three main ingredients: people, process and technology. Those organisations that are early adopters of technology or invest in innovation in a balanced way across the enterprise outperform organizations that are diffident, less structured in their investment approach and risk averse. Although 'innovation' means different things to different organisations, depending on where they are on their journey to the finance function of the future, senior finance executives must find the time, cultural imperative and success measures to embrace change and stay competitive.
Key takeaways
Discover how high-performing finance functions are taking advantage of the technological revolution to
- link strategic and financial planning and analysis with day-to-day operations
- drive better insights about the business
- augment their decision-making processes