CFOs Plan to Increase Investments in Finance Technology
The majority of CFOs said they plan to take on more strategic leadership roles and cite a culture of analytics as a key competitive advantage.Finance is at the center of business and well-positioned to help guide strategic, data-driven decisions across a company, according to a global survey of more than 325 chief financial officers by cloud corporate performance management (CPM) specialist Adaptive Insights. The majority of CFOs said they plan to take on more strategic leadership roles (69 percent) and cite a culture of analytics as a key competitive advantage in today's business climate (56 percent). In today's fast-paced world, speed is paramount, but CFOs cite a lack of time for data analysis (63 percent) and complex legacy technology systems (40 percent) as primary speed bumps to being strategic leaders. "Today's cloud-based CPM solutions offer a full range of options for integrating data from across the enterprise, including data from ERP systems as well as operational applications such as CRM and HR systems, whether located on-premises or in the cloud," Rob Hull, founder and chairman of Adaptive Insights, told eWEEK. "Combining data from multiple transactional systems into one CPM environment provides a CFO and their team with a holistic view of the past performance of the business and provides the data needed to see historical trends and derive key operational and financial drivers that can be used to create improved forecasts."
The majority of CFOs (59 percent) have high confidence in their regional economy, but confidence dips to 37 percent when global factors are considered.