Business Reporter: How Can CFOs Navigate a Digital Finance Transformation?
LONDON, March 23, 2020 /PRNewswire/ -- Finance departments can take these clear steps to drive a successful digital finance transformation and reap the resulting benefits, says Aptitude Software.
Chief financial officers are in a powerful position to guide their organisations, but to move successfully into the future, CFOs must embrace a move to digital finance.
This is required to help CFOs shift their time away from backward-looking reporting to forward-looking insight generation to inform future decision-making.
How can CFOs enhance business productivity through digitisation? Here is some key advice from financial management software provider, Aptitude Software:
1. Data is the foundation of digital finance
Chris Roberts, Global Product Owner, Accounting Hub at Aptitude Software, emphasizes the importance of having quality data in a common location and at the appropriate level of granularity. Trusted, consumable data is the foundation of any digital finance programme.
When business leaders don't trust the accuracy of data provided to them, the analytics that follow offer limited benefits.
2. Take a strategic approach to regulatory compliance changes
According to Alan Berkley ACMA CGMA, Senior Finance Specialist at Aptitude Software, CFOs should use regulatory change as an opportunity to make their finance department more digital.
By using available budget dollars to improve architectures while achieving compliance, finance functions can revamp their systems and add business value.
3. Embrace the cloud
Businesses that adopt advanced technology tend to be higher performing, more resilient, more agile and more responsible, says Chris Wade, Chief Product Officer at Aptitude Software.
The cloud can enable finance departments to have a much more modern finance system at the core of their operation.
"No organisation is truly digital without digitising its finance department," says Wade. Businesses can increase efficiency and growth by investing in digital finance transformation. It is time for organisations to take advantage of the opportunities offered by the digital age.
To learn more about how CFOs can navigate digital finance transformation, read the full article or watch the video here.
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About Aptitude Software
Aptitude Software provides software solutions that enable finance professionals to run their global businesses, forecast decision outcomes, and comply with complex regulations. Uniquely combining deep finance expertise and IP rich technology, Aptitude gives finance leaders the tools they need to transform their business and achieve their ambitions.
Aptitude is proud to have served the offices of finance for over 20 years, delivering financial control and insight to create a world of financial confidence for our global clients. Aptitude Software supports businesses with combined revenues approaching $1 trillion and over 500 million end customers. Headquartered in London, Aptitude Software is an operating company of Aptitude Software Group plc. For further information, email us at info@aptitudesoftware.com or contact us:
https://www.aptitudesoftware.com
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SOURCE Business Reporter
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