In finance and accounting, we are witnessing the impact of artificial intelligence (AI) and automation in improving connections between customers and employees.
Today's finance departments germany email list have technology that allows them to function as perfectly coordinated machines capable of collecting vast amounts of current and past data at any given time.
The evolution of accounting and finance comes hand in hand with the transformation of the role of the financial director .
The first CFOs 1.0 were historians of sorts. Then came CFOs 2.0, real-time analysts who detected problems immediately thanks to continuously updated dashboards.
Now is the time to become a CFO 3.0 , a forward-thinking business leader.
You're probably used to looking back to provide business insights, looking at the past while trying to move forward. With insights and predictive analytics, you'll now be able to make sense of the data to focus on the future.
CFO 3.0. Digital transformation beyond financial management
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Key trends driving digitalization of the financial sector.
How the role of the CFO 3.0 is changing.
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The role of digital transformation
Driven by new technologies such as cloud or automation, along with an increase in customer expectations, your business needs an adequate technological foundation to carry out digital transformation , in which technology is integrated and coordinated throughout the business ecosystem.
In growing businesses, the first investments are often dedicated to financial management to provide the technology you will need in your job as a manager.
However, that also means that the business needs you to be both front and center when it comes to leading change through digital transformation.
This puts you in the ideal position to move from being CFO 1.0 and 2.0 to CFO 3.0.
You can implement everything you need to leave your traditional profile behind and take your business to new horizons; you may even be able to make your business transformation go beyond the financial sphere.
Forward-thinking CFOs 3.0
Even if you're still focused on the past and present today, tomorrow you'll need to tap into the vast amounts of data available in our digitalized world . This will help you predict the future of your business, uncover hidden opportunities, and fill information gaps.
According to a new study from Sage in which we surveyed 500 senior financial decision makers, that shift is already happening.
The report, titled “CFO 3.0: Digital Transformation Beyond Finance ,” found that more than two-thirds of CFOs (70%) say they are fully responsible for digital transformation.
How are finance departments changing?
In a digital world like ours, e-commerce is key to integrating external and internal processes. Our research indicated that 65% of financial leaders believe that e-commerce is the only way to maintain control in the face of digitalization.
Just look at the state of retail today and the impact that online shopping has had on retailers, both old and new.
To achieve top-level visibility into business performance, your finance teams need to have the right digital tools and the flexibility to use them. Only then can you align with other teams and collaborate to achieve growth.