The right accounting and financial management software affects more than just the accountants. With advanced integrations, reporting, and insights, a financial management platform can help more than just the CFO improve his or her role as a leader in the organization. Today, we’d like to share with you how, with the right help, the entire C-Suite can benefit from selection, implementation, and support.
With the CIO quickly becoming a top position of conversation within organizations—both good (more CIOs than ever are jumping to CEO) and bad (data breaches ruining careers)—the CIO is now more than a back-office entity. Cloud computing is creating both opportunities and challenges, making the Chief Information Officer a strategic decision maker who has become a trusted advisor to the CEO.
According to EY, the wide-ranging CIO role is broken into three key categories: Execution, Enablement, and Development:
- Execution:All CIOs are involved in the execution of the basics – keeping systems up and running, while keeping close tabs on the organization’s overall IT spend.
- Enablement:This is where a more operational focus starts to give way to something more strategic in nature – from improving business decisions by acting as an information broker to proactively enhancing business processes.
- Development:At the highest level, CIOs are called upon to help develop the business further. From delivering transformation through to introducing business model innovation, this can be the most rewarding part of the job – but is only open to those who truly consider the rest of the C-suite as equal peers and the least often pursued
To meet the needs of the CIO, the right financial management software should be able to offer:
- A constantly running system (99.8% uptime promises)
- Reduce spending in either labor, capital costs, or the like
- Enhance business processes by automating time-consuming manual operations
Even the CMO can benefit from financial management software. With the right financial information available in understandable yet comprehensive reports, the CMO can see improvements to marketing, sales, and even PR departments.
In developing the modern CFO, the right financial application can provide strategic improvements to both the role and the impact of the Chief Financial Officer. We’ve shared some of these resources, and welcome you to learn more:
- In CFOs joining the Cloud Accounting Revolution, we shared that 21% of organizations are moving financials to the cloud within the next two years for three simple reasons: Efficiency, Choice, and Flexibility.
- In Modern Accounting Systems for Today’s CFO, we shared the importance of cloud financials in fast-moving organizations.
- In the Evolving CFO, we shared four roles that CFOs must embrace for growth, allowing the position to evolve from bookkeeping to strategic decision maker.
It should go without saying that the right financial applications can appease a CFO. For instance, Intacct focused a major part of their 2014 conference, Intacct Advantage, to the improvement of CFOs.
What CEO (or any other department—legal, procurement, supply chain, HR) wouldn’t want to see his or her business run more efficiently, more cost effectively, with improved communication, and even better security?
The right financial management makes everyone look better, but also can work well with other platforms vital to the organization, such as CRM, BI, T&E, and much, much more.
Brittenford Systems provides Intacct Financial Management Platform, built for agile organizations looking to make the most of the cloud. Built to integrate, it ensures that every business unit can get not only what it wants, but also what it needs.
Contact us today to see how we can help you appease your entire organization with the right financial management platform.