FINANCE AT A CROSSROADS: THE RISK OF STANDING STILL
“Historically, our most frequent response to the threat of business or IT change is ‘Don’t just do something, stand there.’ We’d rather wait to make a late investment than rush and make a worse investment. That will not work in today’s business.”
– CFO, $20M US-based printing concern
According to research from business IT consulting and advisory firm Saugatuck Technology (an ISG business), nearly 90% of businesses of all types and sizes are applying some types of Cloud-based and Cloud-related technologies to change, improve, innovate, and accelerate how they do business. Our data indicate that more than 75% of those taking advantage of these technologies are in market-facing organizations such as Sales, Marketing, and Customer Support.
If the old ways are now less effective, then what ideas and technologies are replacing them? Industry leading finance teams are using the following three approaches for achieving a timelier, higher quality analysis and reporting paradigm. Let’s explore each of the three new approaches. #1 Close Faster to Enable Real-Time Reporting The faster close has
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