- LLM = ANALYSIS - PARALYSIS?
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- In today’s AI (Artificial Intelligence) landscape, finance and business leaders rely on data more than ever to make strategic decisions and boost business performance. A large language model (LLM) like ChatGPT, CoPilot, and Gemini is an AI solution that can generate insights from data easily and quickly. In recent months, many enterprises are harnessing LLM tools for generating insights, and Gartner predicts that by 2026, over 80% of enterprises will have used LLM models [1].
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- Group Purchasing Organization Plans (GPOs) have gained a lot of popularity lately. Most organizations have joined a GPO to combine their purchasing spend with other GPO members to get better pricing and streamline supplier spending. In many cases, GPOs deliver a valuable service. Not all GPOs are created equal and it is important to find right fit for your organization. In some cases, direct supplier negotiation is a viable alternative to GPO.
- Using the Business Value of IT Calculator
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- The Business Value of IT Calculator (BVIT) is a very simple and intuitive approach that any executive team can use to understand where the company stands on its utilization of IT. Almost all business functions use IT to some degree. Therefore all functional business executives should have a view of how well IT is serving their needs as well the overall business needs. The BVIT uses a very intuitive survey approach to ask 10 questions of the executive team and aggregates results to get an aggregated composite rating of value from IT.
Governance & Controls – structure and controls.
Transaction Recording – systems, transaction processing and closing the books.
Reporting - efficient, timely and accurate information for decision making and meeting compliance requirements.
Accounting
Business Planning - provide the financial roadmap for the company with supporting analytics.
Financial Forecasting - integrate the company’s current performance relative to budget with the real-time business environment.
Investment Analysis - the framework to analyze new opportunities as they present themselves.
Finance
Cash Management - the discipline to ensure cash is available to operate the business normally.
Funding - Planning for and raising funds to meet the needs of the business.
Risk Management – Identification and mitigation of key business risks.
Treasury
Self-Awareness - Internal.
Team Building - External.
Strategy & Culture – Motivate people to follow you.
Leadership
Four Pillars of Executive Expertise
CFO.University is built around the Four Pillars of CFO Success. These Pillars are supported with Core Competencies. Our framework allows you to master your role as a senior financial officer. The Four Pillars are made up of:
Accounting – Governance & Controls, Transaction Recording and Reporting
Finance – Business Planning, Financial Forecasting and Investment Analysis
Treasury – Cash Management, Funding (Capital Raising) and Risk Management
Leadership – Self Awareness, Team Building and Strategy & Culture
