Chapter 2. Applying Analytics Automation in Finance
Chapter 1 established the challenges modern CFOs face within their organizations. Increased demands from stakeholders require changes to traditional methods of data gathering, analyzing, and reporting. Companies require faster and more reliable information to enable data-informed decisions and remain competitive in the market. However, how does a CFO translate these demands into a digital transformation? How does the CFO overcome technical, financial, and cultural barriers to implement a system that will improve analytic performance and allow a company to compete in a dynamic and challenging market space?
Chapter 2 will provide examples of where analytics automation can best serve the needs of finance professionals. It will explore how CFO involvement can foster better data quality, data governance, and cross-department collaboration to ensure that analytics automation is more readily accepted and adopted. This chapter will also examine the impact analytics automation can have on individual departments within finance, while providing examples of how these changes have benefited other companies. The end goal is to provide a template for a strategic, coordinated approach to implementing analytics automation within an organization.
Financial Accounting and Control
Financial accounting and control teams have traditionally faced immense pressure to rapidly and accurately close the books and generate financial statements. Despite ...
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