While new challenges are constantly emerging, the finance department is reinventing itself to meet the challenges of tomorrow. With technological revolutions, organizational changes and human progress, CFOs must be able to rely on efficient tools. Business Intelligence is thus becoming an essential solution to face the future with confidence.
What do tomorrow’s finance departments look like?
Performance management, development strategy and cash flow monitoring: these are the main priorities for CFOs in the future.
At the same time, the finance department as a whole is about to undergo profound changes, in a context marked by digitalization:
- The creation of financial reports is becoming faster and more efficient.
- Data is always more reliable and usable.
- Closing times are getting shorter.
- The budget process is considerably simplified.
- Data compilation becomes easier to implement.
- Finance jobs are changing.
Business Intelligence: an essential tool to face the challenges of the finance department
In order to prepare for the future with confidence, the finance department must be able to rely on appropriate tools to better manage performance, generate reliable indicators and create more effective reports. In the face of these major challenges, Business Intelligence is an essential solution.
It offers in particular:
- Better monitoring of key performance indicators, thanks to the creation of financial dashboards.
- More efficient, smarter and more interactive reporting.
- The implementation of a data governance policy to guarantee the quality, security, and transparency of data.
