By: Ciopages Staff Writer
Updated on: Feb 25, 2023
Talking with Global 2000 CFOs and other business/technology leaders about transforming the finance organization, here are the typical finance transformation outcomes enterprises are striving towards. There is nothing highfalutin there, but the simple finance transformation outcomes sought by finance leaders is a testament to the current state of affairs where even a basic process is complex, cumbersome, costly, and at times inaccurate. So, while the current state-of-the-art may be possible, the aspirations are much more grounded in reality.
“Forget the wishful thinking of a daily close. If we can do our financial close and report within a month, we’d be happy. Right now it takes an army of augmented staff and herculean efforts to complete this nightmare,” said a flustered CFO of a giant corporation with grew out of unwieldy acquisitions over the years.
These are the finance transformation outcomes that are typical to a Global 2000 CFO. Are you considering a finance transformation of your own? And if so, what are the outcomes you desire and how are you planning on achieving them? Please check out CIOPages.com Finance Transformation Framework.