Why smart CFOs are turning to unified performance management

FSN Executive Briefing

Gary Simon is Group Publisher of FSN Publishing Limited and Managing Editor of FSN Newswire. He is a graduate of London University, a Fellow of the Institute of Chartered Accountants in England and Wales and a Fellow of the British Computer Society with more than 27 years’ experience of implementing management and financial reporting systems.

He is the author of four books, many product reviews and whitepapers and as a leading authority on the financial systems market is a popular and independent speaker on market developments. Formerly a partner in Deloitte for more than 16 years, he has led some of the most complex information management assignments for global enterprises in the private and public sector.

Introduction

The popular image of the CFO as custodian of corporate assets, financial steward, and manager of financial transaction and reporting processes has given way in recent years to a much broader advisory role. In addition to the historic position, CFOs are increasingly relied upon for strategic guidance and ensuring that enterprise-wide performance is strategically aligned, i.e. that decision making at all levels of the organisation are value-adding and contribute to the overall strategy.

It is a tall order when set against an environment in which CFOs are subject to frequent reporting changes, vulnerable to the whims of multiple stakeholders and having to respond to unexpected events in the most volatile and uncertain trading conditions for more than two generations. So what are the enabling technologies that allow CFOs to keep their ‘finger on the pulse’, ensure profitable growth and maximise the opportunity for competitive advantage?