The role of the CFO is rapidly changing – to succeed from here on, CFO’s will need to shift their focus from simply crunching numbers to analytics; people management; disruptive technologies and several other crucial and newly forming variables. This can be done using Corporate Performance Management (CPM) solutions.
CPM is a process, methodology and software designed to help companies achieve financial goals by linking strategies to plans and execution, whilst being compliant and maintaining the required level of insight and trust into data.
Great companies with great CFO’s use CPM solutions, methodologies and practices to get the guidance, control and visibility they require in their numbers. These solutions and practices allow for trust, auditability and good governance.
To be successful in the future, CFO’s need these skills:
- CFO’s must become analytics wizards
- CFO’s must manage an increasing amount of risk
- CFO’s must adapt to new technology
- CFO’s must become better at managing people
- CFO’s must guide decisions in a politically charged atmosphere
- CFO’s must manage big data as a large part of operations
- CFO’s will make effective decisions with analytics from outside of the enterprise
- CFO’s need to understand business drivers and the underlying non-financial information that drives the financials of their company and hiring decisions will become a major part of the job for future CFO’s
- Understand the present state with performance measurement and analysis
- See into the future with planning, budgeting, and forecasting including the rolling forecasts
- Document the past with financial reporting, consolidation, and disclosure
Some of the above skills can be assisted by having the right Corporate Performance Management systems and processes in place. CPM guides you along a journey by providing a navigation system to plot where you are going, a steering mechanism to stay on the right path, as well as analysis and reporting tools to provide a rear-view record of where you have been, all in one place.
Utilising the latest in disruptive cloud-based CPM software and management practices, Karabina can assist you with the following in order to gain the insight you require to trust your numbers:
- Map your CPM strategy
- Collect meaningful information by asking the right questions
- Ensure strategic alignment
- Create a positive learning culture supported by analytics
- Automate appropriately
At Karabina we help companies to achieve financial goals by linking strategies to plans and execution, whilst being compliant and maintaining the required level of insight and trust into data. We provide CPM solutions and advisory with faster time to value at a significantly reduced total cost of ownership, and with improvements into the core business processes a top priority.
Our solutions are:
- Easy to use allowing for increased user adoption and various use cases
- Easy to scale allowing you to grow at your own pace and streamline your implementation