This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Artificial intelligence (AI) is changing financialplanning and how industries operate. According to NVIDIA, 91% of financial companies are already using or testing AI. AI automates tasks such as data entry and modeling, enabling finance teams to focus on analysis and strategy. What is AI in FinancialPlanning?
Understand Your Teams Starting Point Before planning for growth, its essential to know where your team currently stands. This understanding helps you identify training needs and create tailored development plans. If someone struggles with presenting financialdata, offer tips, resources, or even a mentor to help them improve.
Giselle Arellano-Geronimo For instance, integrating cloud-based systems allows for greater flexibility and accessibility of financialdata, enabling finance teams to collaborate more effectively. This involves investing in technology that automates routine tasks and provides valuable insights that can drive competitive advantage.
Now, picture the opposite: instant access to real-time financial insights, automated compliance checks, and AI-driven forecasts guiding your next move. This is the power of Financial Information Systems (FIS). This shift allows businesses to move from reactive decision-making to proactive planning.
Assisting FinancialPlanning Finance AI chatbots are excellent tools for budgeting and financialplanning. They analyze spending habits and recommend adjustments to help individuals or businesses achieve their financial goals. Free plan with basic features. Cons Advanced features may require premium plans.
Here’s what modern cash management systems typically offer: Real-Time Bank Account Integration - The ability to link various bank accounts into a single platform allows businesses to view all their financialdata in one place, reducing manual work and improving accuracy.
Did you know that 35% of organizations identify data quality and timeliness as significant barriers to effective financialplanning and analysis (FP&A)? Bad data, inaccessible information, and outdated processes make FP&A more difficult. Gain Approval - Present the plan to management with expected benefits.
To present a consolidated view, this often requires the integration of data from multiple sources, such as ERP systems, forecast and planning processes, and even local-entity-level global finance team members. This interconnectedness ensures accurate, real-time financial insights. Connectivity goes beyond data aggregation.
No longer confined to traditional financial management, CFOs now play a pivotal role in safeguarding their organizations against increasingly sophisticated cyber threats. As stewards of financialdata, CFOs must prioritize cybersecurity measures to ensure the security of sensitive information and maintain client trust.
How to Create Accurate Budgets for Business Units Budgeting is one of the most important things a business can do to stay financially healthy. A good budget helps a company plan its spending, control costs, and make smart decisions. Understanding Business Unit Budgets A business unit budget is like a financial roadmap.
Did you know that 47% of businesses still rely on spreadsheets for financialplanning, despite the risks of errors and inefficiencies? Workday Adaptive Planning aims to solve this problem by offering a cloud-based FinancialPlanning & Analysis (FP&A) solution with AI-powered forecasting, budgeting, and workforce planning tools.
These insights empower owners to make data-driven decisions that support long-term growth. Leverage Financial Insights in Hospitality In the hospitality industry, leveraging financial insights is essential to remain competitive. The post The Pivotal Role of the CFO in Hospitality Growth appeared first on CFO PLANS | Blog.
Discover how to transform your financial reports into investment magnets by aligning them with investor expectations. Clear, precise, and comprehensive financial reports that meet investor expectations are indispensable. Emphasizing robust financial performance and growth prospects is key.
For example, we can use visualization to guide SME customers on cashflow management, combining different datasets that we have within the bank and merging these with customers financialdata to produce valuable insights for customers. That is on the horizon for us in 2025. Global Finance: Is Generative AI really the answer?
Did you know that 96% of finance teams still rely on spreadsheets for planning and 93% rely on them for reporting? If youre stuck in a vicious cycle of manual updates and outdated insights, its time to rethink your approach to planning and financial reporting. Centralize FinancialDataData silos are the enemy of efficiency.
This is forcing finance leaders to integrate ESG considerations into their financialplanning, reporting, and investment decisions. The ability to analyse data, identify insights, and communicate those insights effectively is highly valued.
Review existing data: Look at your company’s historical trends, current financialdata, and market research. Even if the data isn’t perfect, it can give you a starting point. What’s your plan in each case? What’s important is to show that you have a plan. Ask questions: What information do you have now?
Every decision is crucial to the overall results and endpoint of each and every plan and initiative, that is why it is necessary that finance leaders have a clear view of the road they have to take. Wong Jyh Juan , chief financial officer at Malaysia-based real estate developer Perdana Parkcity Sdn. “I
Critically, CFOs must move beyond siloed financialdata and begin synthesising a broader spectrum of intelligence. A new cloud ERP, an AI-powered planning tool, or a clever dashboard only deliver value if they help the business make better decisions faster. But more importantly, it enables proactive mitigation.
The CFO is not just the gatekeeper of financialdata. They are the driver of strategy, the guardian of governance, and the voice of reason when the business wants to leap without a plan. They surface them early and plan around them. Before You Forecast the Future, Figure Out Who You Are!
I was particularly impressed with how organised and meticulous the Chinese are in their planning and how they receive their guests. Learning to analyse financialdata with a strategic lens, understanding broader business impacts, and identifying potential risks are essential skills for any future CFO.
However, as the company grew, it faced mounting challenges in managing financialplanning through manual spreadsheets. This method proved both time-consuming and prone to errors, leaving the organisation with a fragmented view of its financial health due to siloed IT systems.
This includes how data security is viewed as a top concern for 44% of Asian enterprises, exceeding the global average and how AI model accuracy is just 32% on average, with only 30% of data is structured, revealing messy data foundations.
Other areas like financialplanning, reporting, and cash flow management are also great to outsource. Make sure you understand your reports and always have access to your financial records. Your financialdata is sensitive. And then theres not thinking about security.
Improved Decision-Making : Department heads equipped with financialdata can align spending with strategic goals, ensuring every dollar is used effectively to further the mission. Improved Succession Planning : The world doesnt collapse if a key team member needs to take a short or longer leave of absence.
A dedicated incubator is planned for this program, along with a physical space to test prototype bank solutions. Working with the Ozone API open banking company, Bancolombia is building the type of open application programming interface (API) infrastructure essential for secure data sharing. million (about $1.9 million).
Yet, many PE-backed companies struggle with financialplanning and analysis (FP&A), which creates barriers to achieving growth targets, cash flow clarity, and operational alignment. Executives rely on FP&A for backward-looking analysis rather than proactive scenario planning. Use operational KPIs (e.g.,
Strategic Thinking Begins at Ground Level CFOs are expected to contribute to strategic decisions, from capital investment and resource planning to risk management and growth strategy. They become fluent in operational language and can convert financial information into actionable business insights.
To drive growth, improve profitability, and enhance decision-making, companies can leverage the power of refined operational disciplines – Forecasting, Planning, and Analytics (our take on FP&A). Creating a ‘Single Source of Truth’ for Financial and Operational Data Accurate and reliable financial information is essential.
Generational Disparities in Financial Literacy A r ecent survey from Xero highlights that 60% of Gen Z and 59% of Millennials experience financial challenges due to limited financial literacy, compared to only 22% of Baby Boomers. A gap in financial confidence leads to fear or avoidance of financial management.
To make sure everything aligns: Set up strong internal processes Have a clear system in place for collecting and verifying financialdata. Some useful tools include: ERP (Enterprise Resource Planning) systems These systems (such as SAP, Oracle, or Sage) help track financial transactions and automate reporting.
It allows businesses and organisations to predict future income, expenses, and cash flow, ensuring that they remain financially stable and prepared for challenges. However, forecasting is not just about guessing numbersit is a structured process that relies on analysing past data, considering present trends, and planning.
Structure Alone Will Not Fix the Business Whether the organisation is centralised or decentralised, it must be built on reliable financialdata, clear accountability, and aligned goals. A decentralised structure only works when business units are financially literate and understand how their actions affect the bigger picture.
As our access to financialdata and tools has improved, I added a short course on statistics , again with the narrow objective of providing the basic tools of data analysis. I do believe that to value businesses, you need to understand how to run them, making corporate finance a good lead in.
I like to start my day early, using those fresh morning hours to review client matters, think through strategies, and plan ahead with a clear mind. Its a real-world chess game where every move matters, and every piece - financialdata, legal contracts, operational substance - must align under intense scrutiny and huge pressure.
Cloud computing is having a significant impact on organizations and especially the CFO, where its allowing for real-time access to financialdata, says Craig Stephenson, global head of Tech, Ops, Data/AI, and InfoSec Officers Practice at Korn Ferry.
The real value lies not in reporting the past but in questioning, interpreting, and challenging financialdata to drive better decisions for the future. Financial reports are produced the same way they have always been. Financial professionals must develop strong analytical skills to extract meaningful insights from data.
Political shifts, rising inflation, and unpredictable market trends are forcing businesses to rethink their financialplanning strategies. Prophix aims to address these challenges by offering advanced, cloud-native financialplanning solutions. Investment Planning Evaluate potential investments through dynamic modeling.
Guillenwho led the automakers push for production scale and supply chain agilitybelieved a different path could better serve the company, but needed someone with operational and financialdata at her fingertips. Read More Lets go talk to himjust you and me, Guillen said.
Then I will look at emails and plan so by 8am the day is ready to go. Technological Proficiency Staying abreast of technological advancements in finance, such as financial software, data analytics, and cybersecurity, is critical. Prefer workout in the evenings What sparked your interest in finance?
Whether you’re a CEO or a department manager, a good grasp of financial principles helps you advocate for your goals, plan strategically, and stay on course when the unexpected happens. Let’s take a look at 5 reasons to accelerate your financial learning curve. For business leaders, this question is central to long-term success.
Whether it is poor post-close planning, misjudged synergy estimates, or ineffective communication across teams, failure tends to follow patterns. More often, they fall apart in execution when integration plans lack structure, teams are misaligned, and critical dependencies are overlooked.
The next frontier of artificial intelligence that is accelerating in 2025 is agentic AI, which uses sophisticated reasoning and iterative planning to autonomously solve complex, multi-step problems. The SAP green ledger offers bottom-up, audit-ready sustainability metrics that are managed with the same accuracy as corporate financialdata.
Plan for Seasonal Fluctuations : Map out expected income and expenses by month to anticipate and prepare for lean periods. Engage Department Heads : Involve program managers and department heads in the budgeting process to give them ownership over their areas financialplanning.
We organize all of the trending information in your field so you don't have to. Join 39,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content