For the first time in a long time, most of the best finance technology tools used in the Fortune 500 have a reasonable and capable alternative for the middle market. Your leadership team expects fast, reliable financial results, reports they can easily understand, and forecasting and planning capabilities to see what may happen in the future. They want to cost of finance to be low and for there to be transparency for everyone on the management team for the metrics that help them understand how to drive their own results.
This sounds like a heavy ask, but it’s very doable for most middle market companies. The capabilities your company needs to have deep financial data and analytics, highly automated transactional processing, and a fast and reliable close are all available. You may simply need to paint the picture for why the investments in these tools is needed.
Especially now, most executive teams have a desire to start accessing these capabilities immediately. Although immediate is not practical for most companies, there are steps that can be implemented to start the process.
Missed the previous post? Click here to read Part 3: Finance Operations.
Re-Building Finance for a Post-COVID World: In this visual guide, Strategy and Business Transformation Practice Leader Steve Ronan, shares how the finance function has changed as a result of the pandemic, how to define finance excellence, what finance executives are (or should be) prioritizing now, the importance of compatible finance technologies, and how you can start improving the finance function for your business. Click here to learn more.
Missed our July webinar on Building a Finance Function for a Post-COVID World? Click here to watch the recording.
Finance Transformation Roadmap: Download our complimentary whitepaper to learn how you can use process engineering and digital technology to close your books faster. Click here to learn more.