A new modern finance delivery model is emerging that is fully equipped for high performance and success in the digital age. Modern finance teams have fully embraced a new operating model for finance that is responsive and change-ready, embracing digital technologies to proactively automate traditional transactional work.
Employing a new operating model for modern finance that consists of three primary attributes enables CFOs and their teams to drive greater business agility:
#1 Cross-functional, integrated teams must be centralized in shared services. Empowered by artificial intelligence and machine learning, finance teams are driving highly significant business improvement and finance management.
#2 Employing modern tools, financial analysts are able to increase the role of Financial Planning & Analysis beyond recognition, into generating insights an organization needs to develop innovative strategies and achieve performance targets.
#3 New tools that generate insights pertaining to statistics, data analysis, data visualization, and business partnering support rapid decision-making and performance management. This not only eases the process of decision making but also facilitates better finance management.
Almost every business agrees that organizations must be agile in order to compete in the digital age, but the process toward complete agility is not always easy.
If you want to find some answers to the question of how agile finance leaders ensure their teams are the most advanced in this model of transformation, click the link below for more information.