INSIGHTS
COMMUNITY ARTICLE
How Finance Can Build a Data Foundation to Fuel Frictionless Finance
Global organisations across industries are looking to accelerate their digital transformation efforts. With that in mind, data will be a significant focus for Finance leaders and is likely to remain a key priority for the next three years. In this report, Criticaleye Partner, Workday, reveal the results of their CFO survey into the biggest gaps organisations have experienced in the past year.
Key takeaways include:
- The biggest gap 49 percent of CFOs saw over the past year was the ability to execute with accurate, timely data that drives quick, informed decisions.
- Data management and analysis are 49 percent of CFOs’ top priorities for the next 3 years.
- Nearly two thirds of CFOs (60 percent) are investing in reimagining Finance operations in the cloud and deploying artificial intelligence/machine learning solutions.
- Predictive analytics is the most sought-after automation capability for 50 percent of CFOs.
- Delayed product launches and missed financial forecasts were the result of not having the necessary data to make critical business decisions, according to 52 percent of CFOs.
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