News

According to a survey by McKinsey, about 60 % of CFOs spend most of their time on traditional financial process and not enough time providing strategic and analytical insights

For the first time in decades, the role of the finance organization is undergoing a disruptive change. The pandemic put a new light on the role of the CFO. They are not only responsible to maintain the financial health of the organization through unprecedented disruption, but to drive business continuity and become more efficient in the repetitive, rule-based processes that are critical to the business.

A new mandate

CFOs today are expected to use disruptive technologies, data and innovation to improve the performance of their team and to have more influence on driving strategic change and transformation efforts for the business. According to a survey by McKinsey, about 60 percent of CFOs spend most of their time on traditional financial process and not enough time providing strategic and analytical insights.

To free up time for strategic and transformational efforts while improving speed and agility, they need to center their focus around automation, integration, and analytics such as digitization of Monthly/Quarterly Close and reconciliation efforts.