What are the barriers to finance process innovation?

According to a recent survey, 34% of finance functions are actively pursuing finance process innovation.  But that still leaves 66% mired in legacy systems and unable to break out of the pack.  The FSN “Innovation in the Finance Function” study, harvested the views of more that 1,000 senior finance professionals globally as it sought to … Continued

What does innovation mean to the finance professional?

Despite the huge interest in innovation and the thousands of column inches written in the media every day, innovation is one of those terms that defies precise definition. So rather than attempt to define it, FSN’s 2018 Innovation in the Finance Function research invited the global finance community to offer examples of what it thought … Continued

Is the secret of success in financial management based on the ability to master data?

A recent FSN study, “Innovation in Financial Reporting” shows that finance functions that have mastered their data outperform their peers in terms of the speed of forecasting, accuracy of forecasting, and time needed to close the books. The report defines four categories of finance function, namely; the “Data Overloaded” who are overwhelmed by too many … Continued

Underinvestment in finance – The business risk and the absence of rewards

Finance functions have suffered chronic underinvestment for many years. Compared to the front-facing customer functions, finance, and the back office that facilitates sales, are under increasing pressure as businesses grow and change. Putting finance investment on the backburner isn’t just an unnecessary business risk, it also means missing out on the substantial rewards of an … Continued