The finance function—once focused mostly on reporting, compliance, and control—is in a promising position to lead future enterprise growth. By training finance’s analytical insights on the future, business enterprises stand to make significant improvement in their business performance, through data-driven strategy, performance management, operational excellence, and digital transformation.
However, in many finance functions, the digital future remains a long way off. More than three-quarters of respondents to a Harvard Business Review Analytic Services pulse survey say they’re still relying to a large extent on labor-intensive manual processes to collect and use all the data that is needed in a decision-ready format.
On July 13, in a live, interactive webinar, Alex Clemente of HBR-AS shared some results of this survey about finance’s role in building the data-driven enterprise. He then joined three experts to explore how the finance function can become more data-driven: John Hugo, Vice President of Financial Products at Workday, Matt Schwenderman, Emerging ERP Solutions Finance Transformation Leader at Deloitte, and Frank Di Liso, Vice President of Finance & Admin, TMX Group Limited (Toronto Stock Exchange). They shared their perspectives on the evolved role of finance on the data and analytics maturity curve and discussed:
- How clearly defined data and analytics strategy can create a decision-ready organization
- How finance can accelerate its data and analytics maturity journey
- How leading organizations are moving the finance function to a data-centric future
- The investments in technology, skills, process mapping and cultural changes needed to create a data-ready organization
CEOs and boards are increasingly looking to the office of the CFO to guide their digital transformation strategies. Is your finance function up to the task?