The era of the bean-counting finance silo is disappearing. In organisations across the world today, there’s a groundswell of change around the CFOs role. Instead, Chief finance officers are being asked to provide more strategic support, and step into the role of business partner to other departments and operational executives. But the new role comes … Continued
Prophix’s US user conference challenged delegates to “Reframe the Usual”, take a different perspective of familiar business practices and to reach for higher planes. It’s a clarion call that resonated perfectly with FSN’s research around innovation in the finance function. The study found that 11% of finance functions rarely, if ever, discuss innovation and a … Continued
For many CFOs, the term “ERP” portends a bloated and unwieldy set of manufacturing applications developed in the 1990’s for a burgeoning global economy. Indeed, FSN’s research, “The Innovation in the Finance Function”, highlights that 52% of finance professionals spent too much time managing and resolving basic transaction processing. But a new era of ERP, … Continued
The boardroom is the nucleus of an organisation where senior executives make (hopefully profitable) strategic decisions. But as technology has spawned disruptors and new, agile business models, the competitive landscape has changed. These days boardrooms need different information to make critical decisions. Senior executives need breadth of data, from market analysis to operational scrutiny, but … Continued
1.Set aside more time for finance process innovation Few finance functions plan for innovation and process improvement or set aside funding, time and resources. 11% of finance functions never discuss innovation and a further 54% say they would “if only they could spare the time”. Given this data, it is perhaps not surprising that only 12% … Continued
Balanced investment in both customer-facing and finance systems drives the best overall performance across a business, but most innovative investment is still concentrated at the front end. So how can companies rebalance this top-heavy approach? The technological revolution has been a boon for customers, from online shopping to product recommendations, targeted advertising to precise delivery … Continued
In business, start-ups are envied and feared in equal measure. Incumbents watch as these nimble disruptors tear up traditional business models and steal their customers with ruthless efficiency. The start-up mentality has become a by-word for innovation, agility, focus and intensity. So how can CFOs tip the balance in favour of innovation? 1 Understanding the … Continued
There is no doubt that the union of Adaptive Insights and Workday is a good deal for both entities. Both are respected organisations and as many have said there is a good cultural fit. Both companies have an open and welcoming culture. But what are the deeper motivations and wider market implications of the deal? … Continued
Innovation is constantly on the lips of business leaders. We live in an environment where costs have been cut to the bone, price control is slipping from everyone’s grasp and growth rates are in low single digits. Against this backdrop, innovation offers a way of breaking out of the pack, delivering superior returns and gaining market … Continued
Around 70% of CFOs say that there forecasting process is “respected”, “inclusive” and “strategically aligned”, but only 40% say that the outcome is “insightful”, i.e. reveals unexpected insights and pathways to better performance. Despite the huge effort expended in the forecasting process it seems that it often fails to live up to expectations. So, the obvious question … Continued