Championing transformation within and without
Data and analytics are integral to a CFO's ability to unlock business growth and respond to demand. As CFOs act more like analytics leaders, we're seeing an accelerating trend across finance-related job descriptions requiring that candidates have skills in data and analysis.
The benefits of prioritizing these skills go beyond the enterprise, with future-facing finance functions able to harness their analytics capabilities to drive transformation outside the business too. A consumer goods company is performing root-cause analysis on any incorrect invoices it receives from suppliers, for example. By sharing this insight with suppliers, the invoices it receives are now accurate and can process touchlessly, helping to get suppliers paid on time and improving relationships across the supply chain.
Looking ahead, enterprises will work with external partners, suppliers, and competitors more closely as they innovate and grow together. New technologies like blockchain, for instance, are allowing companies to share data securely, creating the potential for open-source insight platforms, enabling an entire ecosystem to solve challenges beyond the capabilities of one enterprise.
As businesses tap into growth opportunities, finance functions with access to critical analytics skills and insights are creating tomorrow's successful enterprises.
Learn more about the macrotrends affecting finance teams and their businesses and the role of an instinctive enterprise in our report: CFOs Empowering Enterprises in the Age of Instinct.