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
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
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
As the year-end looms, CFOs in corner offices around the globe are poring over 2017 budget proposals, allocating resources and approving 12-month plans based on data they know will be out of date even before the Christmas trees have been recycled. This might suffice for another year or two, but nimble disruptors are appearing in every sector, … Continued
For more than a decade businesses have been talking enthusiastically about the need to put the customer at the centre of what they do. But subtle changes in the digital economy, particularly the shift from selling goods to selling ‘Everything-as-a-Service’ is profoundly changing business models, organisational models and information systems. It’s a transformation for which many … Continued
Modern finance should be automating for insight as well as productivity. The ability to do this is within our gift but many finance professionals fail to deliver on the promise because they have not joined up their ‘front office’ (customer-facing systems) and their core financial systems in the back office. Front-to-back office integration really matters … Continued
CFOs must first examine themselves to see if they have the right skills to take the finance function into a more strategic future, and then ensure that the rest of the finance team can support and drive this new direction. The finance function is in a state of flux. Technology is having a profound impact … Continued
The decision has been made and the ‘die is cast’. Whatever camp you were in last night we all have to deal with the consequences of the UK vote to leave Europe today. So what should CFOs be doing this morning? These are monumental events but I don’t think we should be too distracted by … Continued
The requirements of a modern CFO are as wide as they are deep. Constrained by financial governance, limited by ageing technology, swamped by demands to broaden their financial stewardship into business partnering, technology and strategy, CFOs can’t do it all. At least, not all at once. Time is the crucial factor holding CFOs back. Despite … Continued