What kind of role changes do CFOs face in 2017’s age of innovation?


innovationAs a modern finance leader you need to monitor the pulse of your business with a holistic view of all important information in a single place. You need to collect data from across various sources like Excel spreadsheets, web analytics, and databases and bring that data to life in seconds through personalized dashboards, workspaces and reports that can help you make the right data-driven decisions with your key business metrics. Microsoft Dynamics GP helps you gain deeper business and risk insight from internal and external data. A more comprehensive approach improves the accuracy and integrity of insight that you can gain with actuarial, financial, and operational risk.

So, customer-centric thinking has not typically been the domain of finance executives, who tend to be more comfortable with spreadsheets. But to evaluate the investment allocations that underlie the transformation into an innovation-driven enterprise, finance leaders need to understand how customers are changing.

Successful finance executives understand innovation from the inside out. They’ve had to reinvent themselves in recent years, emerging as strategic decision-makers, rather than keepers of quarterly reports. A host of organizational shifts, ranging from the elimination of chief operating officer title to the availability of advanced analytics tools, has required finance leaders to take on some of the responsibility for helping the business transform.

By demonstrating their own creative thinking, finance executives can become the embodiment of what needs to happen – namely that innovative ideas expand beyond any single function, such as product development, and permeate the entire business. It’s now part of the finance function’s mission to monitor the organization’s innovation efforts, making sure that the company has access to the resources it needs. At a time when innovative ideas – almost as much as capital – serve as the fuel that energizes corporate expansion, it falls to finance executives to make sure those resources are managed effectively.

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