Every finance department is facing the same challenge, no matter their size, expertise or industry. New technologies are entering the workplace, changing the way we work and completely upending business models. Nowadays, consumers are ‘always on,’ demanding rapid service and communications. People want to subscribe to products, rather than buy them. Even investors are asking a lot, for example insisting companies precisely predict demand to keep the bottom line lean.
Chief financial officers’ talents are too often lost to mundane, routine tasks that do not add much value to their important positions as their CEOs’ main advisers. Fortunately, technological innovations are removing much of the burden, freeing CFOs to fulfill their roles as prime movers and shakers, guiding their companies to new heights. Cloud technology, enterprise resource planning and artificial intelligence are proving to be time-saviors for today’s busy CFOs.