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Today’s CFOs work hard to understand what is happening and why within their organizations.
Rather than reactively analyzing historical data and presenting reports about the past, modern finance functions provide proactive guidance on what actions to take to support broader business objectives.
Still too many companies rely on outdated data for key decision-making. And while there has been great progress in delivering insightful analytics to the business, tomorrow’s finance function will have to be far more automated and efficient.
The finance function of the future will be a radically different entity from that of the past with the support of the IT department.
Led by a new breed of CFO who is working closely with the CIO, tomorrow’s function will put greater emphasis on taking a forward-looking approach to the rest of the business, and driving the growth agenda through sharper insights from data, which are increasingly provided on a near-real-time basis.
It will find new ways to collaborate with the rest of the organization as a strategic business partner, while taking a far more service-oriented approach in its efforts.
Modern finance is committed to operational excellence across all service dimensions, the foundation of which is a common finance language that relies on standardized, globalized business processes and real-time data.