White Paper: Gravity Software
Company leaders are increasingly looking to CFOs for strategic direction, not just the latest financial reports
EY Germany’s Dr. Marcus Gantzkow noted that CFOs are gradually taking on the role of “Chief Value Officer.”
“CFOs today are expected, from an internal management perspective, to provide real-time insights from data of all types, also increasing beyond the scope of purely financial insights,” EY says.
This is due in large part to the decreased cost and increased accessibility of technologies such as cloud-based systems and instruments for data analytics, as well as “greater clarity about key analytical areas.” In an economy marred by uncertainty – rampant inflation, unpredictable supply chains, an evertightening labor market and fluctuating consumer demand – it’s imperative that business leaders stay a step ahead of whatever crisis may be coming next.
Business intelligence tools can help companies in many ways, including:
• Strengthening competitive advantage
• Driving innovation
• Improving collaboration among departments
• Uncovering opportunities for growth and improvement
• Reducing risk exposure
This is especially true for multi-entity organizations, which often have several silos of information but no single source of truth