Correlating the impact the CIO or CTO can have on achieving an Intelligent Enterprise-level operation is not hard to achieve. Given that these roles have innovation and technology in their names, It’s clear to see how they go together. When it comes to finance though, many raise eyebrows in astonishment that the role of the Chief Financial Officer is being used in the same sentence as a technology-based approach. Taking a closer look, it’s actually a no-brainer how the role of a CFO can set an SME on its course to Intelligent Enterprise status, or if neglected, can completely derail the initiative’s reach.
Finance is often an overlooked department when it comes to innovative hubs within a business. There are so many departments that rely on communication with other areas of the business, but no other more so than finance. Budget allocations, analyses, forecasting, and more, finance fosters the growth of every department and does so much work behind the scenes that it’s easy to understand why it’s often forgotten about when looking for innovative fronts of the business. Let’s see how the finance leadership can have an effect on a company’s trajectory towards an Intelligent Enterprise operation.
What is the best news for finance leaders right now? They don’t have to do all the work themselves. In fact, the hottest trend in finance processes at the moment is automation. When companies have their employees completing a lot of repetitive tasks, it becomes a moral vacuum where talents and skillsets that could be much more productive in other areas are wasted. By innovating and undergoing a digital transformation, businesses can leverage the power of automation by letting the machines do all the rule-based tasks on their own (at a hybrid level with minimal need for human input beyond the algorithms). They’re able to manage their human capital in a smarter way that helps the team to focus on things that computers can’t do, ultimately resulting in a higher sense of purpose and job fulfillment for everyone involved.
CFOs that are still dealing with outdated systems that are not integrated will miss out on analyses and the latest technologies available. They are simply not going to push their businesses in the right direction, it’s a simple case of “the blind leading the blind.” CFOs, regardless of industry, must be able to determine what products or services are performing the best in order to improve and increase the offering, and halt any line item that is not yielding profitable margins for the company.
By way of technology, the modern financial leader is a gateway to unlocking the full power of the intelligent enterprise for the business. CFOs are charged with the enormous responsibility of steadily tracking results and making the right changes or doubling down on certain initiatives when needed, and they can’t do their jobs if they don’t have the best technology available that provides all the insights in real time. At Sapphire Systems we’ve seen the difference that the right software solution can do for companies, and we are ready to help ensure that all leaders are equipped with the right tools to take their businesses to the next level. If you’d like to see what it would look like to have a holistic view of the business and allow your company to thrive and excel sustainably for years to come, contact us. Our team of experts can show you how to make the most out of your investment and see it return on itself many times over.
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