{"id":34146,"date":"2018-03-08T10:00:29","date_gmt":"2018-03-08T09:00:29","guid":{"rendered":"http:\/\/e3mag.com\/?p=34146"},"modified":"2022-05-01T09:38:59","modified_gmt":"2022-05-01T07:38:59","slug":"agility-and-the-new-role-of-the-cfo","status":"publish","type":"post","link":"https:\/\/e3mag.com\/en\/agility-and-the-new-role-of-the-cfo\/","title":{"rendered":"Agility and the new role of the CFO"},"content":{"rendered":"

Every company has the goal of growing. The pressure to drive this growth is strong. The digital transformation also requires finance departments to rethink their approach.<\/p>\n

At the same time, transaction volumes are increasing, the operating business brings with it global requirements and new or additional regulations make the already complex bookkeeping and accounting even more complex.<\/p>

\"\"<\/a><\/div>\n

Especially around the financial close, accountants often still do a lot of extra work to complete all tasks. Decentralized manual processes and inconsistent workflows lead to these overtime hours and lengthy financial closes that often lack transparency, predictability and accuracy.<\/p>\n

This is mainly due to manual and error-prone processes such as the use of spreadsheets.<\/p>\n

Cloud-based financial software<\/h3>\n

However, modern technology helps CFOs to maintain an overview, make decisions based on current figures and always know the company's financial situation. CFOs quickly learn that they can play a more active role in shaping the company with the right strategy and the use of modern software.<\/p>\n

One example of how software can support them in this is shown in the financial closing processes: Cloud-based software solutions for Enhanced Finance Controls and Automation (EFCA) and Financial Corporate Performance Management (FCPM) with a connection to the respective ERP system help to establish and simplify standardized and automated processes for the settlement and processing of every transaction across countries - in real time.<\/p>\n

Automation and standardization are the most effective way to avoid repetitive, time-consuming tasks and minimize manual processes. This gives accountants the opportunity to focus on value-adding activities.<\/p>\n

CFOs are also in a position to take on a new, active role in shaping strategy and corporate management. One of the most important drivers in the introduction of modern financial software is real-time access to an increasing amount of detailed data, which can then be analyzed to provide valuable information.<\/p>\n

This allows the finance department to work more actively with the data and thus create added value for the entire company management.<\/p>\n

According to Gartner, global IT spending will reach 3.7 trillion US dollars in 2018. Investments in technology are at the top of CFOs' list of priorities.<\/p>\n

Financial automation is a catalyst for growth and process improvement. Many companies are also driving digitalization processes forward. This does not stop at the finance function.<\/p>\n

However, this also means that finance departments need a responsive, agile strategy in order to be able to implement changes effectively and successfully. This is exactly what technology supports.<\/p>\n

Relief from routine tasks<\/h3>\n

Creating an agile strategy keeps the finance department moving forward to achieve big goals while enabling it to benefit from new technologies. Successful CEOs are forward-thinking and leading the way by establishing modern solutions, freeing employees from routine tasks and benefiting from new technologies.<\/p>\n

This enables them to provide their colleagues on the Management Board with up-to-date financial data at any time in order to make reliable business decisions quickly. The position of CFO thus takes on a new, more active role in strategy and corporate management.\"https:\/\/e3mag.com\/partners\/blackline\/\"<\/a><\/p>\n

 <\/p>","protected":false},"excerpt":{"rendered":"

In complex companies, CFOs need more technology to make decisions effectively, in addition to a functioning strategy. This gives CFOs a more active role in shaping strategy and corporate governance. <\/p>","protected":false},"author":1415,"featured_media":36685,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"pmpro_default_level":"","footnotes":""},"categories":[20393,7,20719],"tags":[1114,882,478],"coauthors":[21835],"class_list":["post-34146","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cfo-kolumne","category-meinung","category-mag-1803","tag-cfo","tag-echtzeit","tag-technologie","pmpro-has-access"],"acf":[],"featured_image_urls_v2":{"full":["https:\/\/e3mag.com\/wp-content\/uploads\/2018\/04\/header_cfo_kolumne_NEU.jpg",1200,540,false],"thumbnail":["https:\/\/e3mag.com\/wp-content\/uploads\/2018\/04\/header_cfo_kolumne_NEU-80x80.jpg",80,80,true],"medium":["https:\/\/e3mag.com\/wp-content\/uploads\/2018\/04\/header_cfo_kolumne_NEU.jpg",400,180,false],"medium_large":["https:\/\/e3mag.com\/wp-content\/uploads\/2018\/04\/header_cfo_kolumne_NEU-768x346.jpg",768,346,true],"large":["https:\/\/e3mag.com\/wp-content\/uploads\/2018\/04\/header_cfo_kolumne_NEU-1030x464.jpg",1030,464,true],"image-100":["https:\/\/e3mag.com\/wp-content\/uploads\/2018\/04\/header_cfo_kolumne_NEU-100x45.jpg",100,45,true],"image-480":["https:\/\/e3mag.com\/wp-content\/uploads\/2018\/04\/header_cfo_kolumne_NEU-480x216.jpg",480,216,true],"image-640":["https:\/\/e3mag.com\/wp-content\/uploads\/2018\/04\/header_cfo_kolumne_NEU-640x288.jpg",640,288,true],"image-720":["https:\/\/e3mag.com\/wp-content\/uploads\/2018\/04\/header_cfo_kolumne_NEU-720x324.jpg",720,324,true],"image-960":["https:\/\/e3mag.com\/wp-content\/uploads\/2018\/04\/header_cfo_kolumne_NEU-960x432.jpg",960,432,true],"image-1168":["https:\/\/e3mag.com\/wp-content\/uploads\/2018\/04\/header_cfo_kolumne_NEU-1168x526.jpg",1168,526,true],"image-1440":["https:\/\/e3mag.com\/wp-content\/uploads\/2018\/04\/header_cfo_kolumne_NEU.jpg",1200,540,false],"image-1920":["https:\/\/e3mag.com\/wp-content\/uploads\/2018\/04\/header_cfo_kolumne_NEU.jpg",1200,540,false],"1536x1536":["https:\/\/e3mag.com\/wp-content\/uploads\/2018\/04\/header_cfo_kolumne_NEU.jpg",1200,540,false],"2048x2048":["https:\/\/e3mag.com\/wp-content\/uploads\/2018\/04\/header_cfo_kolumne_NEU.jpg",1200,540,false],"trp-custom-language-flag":["https:\/\/e3mag.com\/wp-content\/uploads\/2018\/04\/header_cfo_kolumne_NEU.jpg",18,8,false],"bricks_large_16x9":["https:\/\/e3mag.com\/wp-content\/uploads\/2018\/04\/header_cfo_kolumne_NEU.jpg",1200,540,false],"bricks_large":["https:\/\/e3mag.com\/wp-content\/uploads\/2018\/04\/header_cfo_kolumne_NEU.jpg",1200,540,false],"bricks_large_square":["https:\/\/e3mag.com\/wp-content\/uploads\/2018\/04\/header_cfo_kolumne_NEU.jpg",1200,540,false],"bricks_medium":["https:\/\/e3mag.com\/wp-content\/uploads\/2018\/04\/header_cfo_kolumne_NEU.jpg",600,270,false],"bricks_medium_square":["https:\/\/e3mag.com\/wp-content\/uploads\/2018\/04\/header_cfo_kolumne_NEU.jpg",600,270,false],"profile_24":["https:\/\/e3mag.com\/wp-content\/uploads\/2018\/04\/header_cfo_kolumne_NEU-24x24.jpg",24,24,true],"profile_48":["https:\/\/e3mag.com\/wp-content\/uploads\/2018\/04\/header_cfo_kolumne_NEU-48x48.jpg",48,48,true],"profile_96":["https:\/\/e3mag.com\/wp-content\/uploads\/2018\/04\/header_cfo_kolumne_NEU-96x96.jpg",96,96,true],"profile_150":["https:\/\/e3mag.com\/wp-content\/uploads\/2018\/04\/header_cfo_kolumne_NEU-150x150.jpg",150,150,true],"profile_300":["https:\/\/e3mag.com\/wp-content\/uploads\/2018\/04\/header_cfo_kolumne_NEU-300x300.jpg",300,300,true]},"post_excerpt_stackable_v2":"

In komplexen Unternehmen ben\u00f6tigen CFOs neben einer funktionierenden Strategie auch ein Mehr an Technologie, um Entscheidungen effektiv treffen zu k\u00f6nnen. Das gibt CFOs eine aktivere Gestaltungsrolle bei Strategie und Unternehmensf\u00fchrung. <\/p>\n","category_list_v2":"CFO - Kolumne<\/a>, Die Meinung der SAP-Community<\/a>, MAG 18-03<\/a>","author_info_v2":{"name":"Dr. Ulrich M\u00fcller, BlackLine","url":"https:\/\/e3mag.com\/en\/author\/ulrich-mueller\/"},"comments_num_v2":"0 comments","_links":{"self":[{"href":"https:\/\/e3mag.com\/en\/wp-json\/wp\/v2\/posts\/34146","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/e3mag.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/e3mag.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/e3mag.com\/en\/wp-json\/wp\/v2\/users\/1415"}],"replies":[{"embeddable":true,"href":"https:\/\/e3mag.com\/en\/wp-json\/wp\/v2\/comments?post=34146"}],"version-history":[{"count":0,"href":"https:\/\/e3mag.com\/en\/wp-json\/wp\/v2\/posts\/34146\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/e3mag.com\/en\/wp-json\/wp\/v2\/media\/36685"}],"wp:attachment":[{"href":"https:\/\/e3mag.com\/en\/wp-json\/wp\/v2\/media?parent=34146"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/e3mag.com\/en\/wp-json\/wp\/v2\/categories?post=34146"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/e3mag.com\/en\/wp-json\/wp\/v2\/tags?post=34146"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/e3mag.com\/en\/wp-json\/wp\/v2\/coauthors?post=34146"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}