Finance Leaders Are Ready for Modern Data Strategies

In the not-too-distant past, the primary role of the Chief Financial Officer was to create financial plans at the beginning of the year and to report on the progress of those plans in order to understand cash flow and liquidity. This would slow down or green light key strategic spend. This careful tracking of metrics was, in many respects, how business intelligence was born. It was the dawn of balanced scorecards, financial metrics, and the careful tracking of plan versus actuals.

Faced with a world of faster business speed, increasing market risk, and accelerating digital transformation, forward-thinking companies are now asking more of CFOs. Today’s CFOs are transitioning from keepers of the balance sheet to strategic partners on the business growth journey. Increasingly, this partnership revolves around analytics. CFOs are asked to predict market conditions and currency risks, improve real-time credit modeling and provide much more real-time feedback as to the effectiveness of corporate strategies. A lot has been put on their plate, which requires a transition from the batch-oriented data warehouse world to something much more modern and nimbler.

If CFOs are to rise above the challenges of the current climate, they need modern strategies and solutions that leverage real-time data and analytics to fuel more timely and…