Talking About the Risks of AI and Cognitive Technologies

According to the recently published PwC’s 22nd Annual Global CEO Survey, 85% of the surveyed CEOs overwhelmingly agree artificial intelligence (AI) will have a significant impact on their business within the next five years. For this reason, they have plans to pursue AI investments. This is despite the fact that the information gap between the […]

More Data Doesn’t Always Lead to Better Decisions

Thanks to advancements in technology, our digital lives are producing expansive amounts of data on a daily basis. In addition to this enormous amount of data that is produced each day, the diversity of data types and data sources, and the speed with which data is generated, analyzed and reprocessed has increasingly become unwieldy. With […]

Reimagining Business Processes in an Era of Cognitive Technologies

For years, the focus of many organizations has been on standardizing and automating existing business processes to achieve significant gains in efficiencies. Within the office of finance, mundane transactional processes such as order-to-cash, procure-to-pay and record-to-report have been the epitome of standardization and automation. As a result, a number of finance and accounting professionals have […]

Thinking About The Upside of Risk

Making intelligent and informed decisions is intrinsic to effective risk management. Many at times risk management decisions are centered around loss events and the negative consequences that might eventuate. The positive aspects of risk taking are hardly noticeable. Let’s take as an example, a decision by local-based company to build a sales and distribution presence […]

Challenge of Finance Best Practices and What CFOs Should Do About It

The modern CFO is touted as the right hand man of the CEO, providing strategic and operational decision support. No longer is the CFO only responsible for preparing and interpreting financial statements based on historical accounting data, but also for taking a holistic view of business performance and helping the organization move forward. Thanks to […]

Finance as the Custodian of Enterprise Performance Management

The days of having CFOs responsible for only preparing the statutory financial reports of the business and play the role of the bookkeeper are long gone. Today, finance leaders are expected to play the role of the strategic advisor to senior management and the board,and help drive operational and strategic performance across the enterprise. That […]

Finance Needs To Do More Than Prepare Reports

There is an ongoing discussion about the evolving role of finance and the function’s contribution towards enterprise performance improvement. Thanks to new operating models and emerging technologies, finance has been presented with an opportunity to step up and shine. That is, focus more effort on providing effective decision support that drives organizational success and less […]

Third-Party Risk: What You Don’t Know Can Hurt Your Business

Thanks to globalization and advanced technologies, the world economy is increasingly interconnected and a borderless market. Businesses are no longer depending on their own resources and self-developed capabilities in order to achieve operational excellence, fuel growth and drive strategic success. For example, a retailer headquartered in Toronto, Canada, doesn’t necessarily need to rely on local […]

Human or Machine Intelligence? Augmentation Key to Better Forecasting

Forecasting is an invaluable process for any business. A forecast can play a significant role in driving company success or failure. For example, high forecast accuracy helps a business anticipate changes in the market, identify growth opportunities, reduce risks, analyze¬† root causes of performance and proactively respond. On the other hand, forecasts that are poorly […]

Applying Design Thinking to Finance

I recently finished reading The Design of Business: Why Design Thinking is the Next Competitive Advantage by Roger L. Martin. It’s well worth reading. Even though the book was published almost a decade ago, the ideas and principles espoused by the author are still relevant and applicable in today’s business environment. Design thinking is a […]

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