Whether you choose to make a list of resolutions at the beginning of the new year or not, most CFOs do have a priority list that they plan to stick to throughout the year. So, what does the modern CFO want? Corporate performance management tops the list for 2017, but it doesn’t stand alone. Here are the top 4 must-haves are for a successful year!
- Corporate performance management. Many CFOs strive for overall corporate performance management, and often the easiest way to achieve this is by changing up your one-time annual budgeting process to one that is done on a regular basis. It also helps to incorporate ongoing monitoring of budget vs. actuals, analysis of variances and report back to users the current situation. Ultimately you move to a process of constant review and updating of your plan. By doing so, you will find that your organization has become much more agile and can change direction more quickly as market forces dictate.
- The ability to meet regulatory compliance. As regulations get tighter every year, this continually makes its presence known on a list of CFO wants. One of the most important remains security, and as new forms of data-breaches emerge, companies are being forced to realign their processes to ensure greater security across the board. This is especially true with regard to data. A system that allows for the creation of a security access hierarchy minimizes your risk and helps to meet regulations.
- Keeping up with new technologies. We’re only as strong as our weakest link – and if we are not keeping up with the newest trends in technology we’re not as strong as we could be. Leveraging new technology to increase agility is always a must. Trends suggest that the adoption of cloud-based ERP and EPM solutions will continue to accelerate in 2017 as will innovation set to improve balancing risk with profitability.
- The growth of business. It is probably fair to say that this is on every CFO’s priority list – who doesn’t want business to grow. The above 3 markers can help make marker 4 a reality, not only increasing productivity and efficiency, but saving time and money as well.
At True Sky, we understand what you’re looking for, especially when it comes to corporate performance management. Our tools can help you meet – and exceed – your 2017 goals. Get in touch today to find out more and get started: www.truesky.com.