Category: Performance Management

New Report on Finance Transformation From AICPA & CIMA and KPMG

In the past years, finance has been undergoing significant changes in order to streamline its operations and free up more time to partner with the business and support key decision-making processes that drive enterprise performance. Sadly, not all finance transformation initiatives are achieving the expected outcomes or return on investment outlined in their business cases. […]

Finance and Enterprise Performance Improvement

In the past several years, the role of finance in business has significantly transformed from being a back office, desk-bound, number cruncher into a more broader, stakeholder-engaging and advisory role responsible for influencing strategic and operational decision making and improving enterprise performance. Thanks to new innovative digital technologies and business operating models, CFOs and their […]

Plan Continuation Bias and Decision Making

Businesses of all shapes and sizes often operate in a system with the different parts of the system interacting with one another to produce effects or outcomes that are anticipated or not. Some systems are linear with easily predictable outcomes. Other systems are more complex, more like a spider web, with many of their parts […]

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 […]

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 […]

Finance Value Creation Goes Beyond Running the Financial Side of the Business

Advances in technology are helping the finance function reduce operational costs, streamline processes and improve productivity. Thanks to automation, tasks that used to take months to complete are being completed in weeks and those that took weeks to accomplish are getting done in days. For instance, advanced analytics and robotic process automation are shortening the […]

Rethinking The Use of KPIs In The Digital Era

Most companies do not deploy Key Performance Indicators (KPIs) rigorously for review or as drivers of change. This is the overall finding from a recent survey report, Leading With Next Generation Key Performance Indicators, published by MIT Sloan Management Review. The report is biased towards Sales and Marketing functions. Changes in the business environment such […]

FP&A Leaders are Failing to Deliver Higher Strategic Value

Last month, Prophix Software released its findings from the survey, Defining the Evolution of FP&A: Benchmarks, Challenges & Opportunities. The survey which was carried out between Q2 and Q3 of 2017 received feedback from over 300 FP&A leaders from all companies of all sizes across the globe. The survey was conducted to establish the maturity […]

Intelligent Automation: The Next Frontier in Finance Transformation

Advancements in technologies and the exponential growth of data are presenting massive opportunities for the finance function to embrace intelligent automation, aggregate and analyze data from disparate sources and ease reporting and analysis. Today, we are witnessing technology evolve at different rates, providing a spectrum of capabilities ranging from simple, rules-based and deterministic process automation […]

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