Part II of our series, Supply Chain Management: Corporate Vision, describes where SCM is today and how it’s leveraging technology to extend its value creating potential into the extended enterprise.
Finance teams across industries have seen a significant change with the advent of multiple payment options and automation. First, the size, complexity, and importance of data is growing at a breakneck pace because ever increasing numbers of transactions are moving to digital mode. As a result, the manual approach of managing finance operations using spreadsheets is proving insufficient for finance teams. Second, finance teams are in need for solutions and consequently are utilising automation software products. The technology around automation products is rapidly revolutionising finance processes by providing faster, cheaper, more accurate options. Automation software products utilise a combination of rules engine, machine learning algorithms, and artificial intelligence to automate business operations. This can include data processing, multi-party reconciliation, reporting, monitoring, auditing, and even compliance.
In this CFO Talk CFO.University Contributor, Gary Cokins describes,
1.The forces that are forcing CFOs to implement Enterprise Performance Management (EPM) methods.
2. How rapid prototyping solves key problems frequently faced in EPM implementations.
3. Why operations trained staff understand costing better than accountants. (yep, you read that right) .
4. Lessons from his past EPM successes.
Enjoy the CFO Talk with Gary and visit his library on CFO.University, https://cfo.university/library/contributor/gary-cokins
In business an enterprise is an open system composed of interconnected subsystems that work and integrate together to achieve a common objective. This system is composed of four principal subsystems:
In this CFO Talk Anders highlights ’ the latest and greatest within business partnering’
He notes that CFOs realize they need their teams to have a business partner mindset but acknowledge they are struggling with how to develop those skills and instill that mindset.
