Most people think that business involves decisions around selling more stuff or spending less money, and accountants would typically record the results of these types of activity in a profit and loss or net income statement, but is this enough to ensure enterprises achieve sustained profitable growth?
Consider the following questions…
1. Is the way you compute and measure product and service costs and profitability affecting your organization’s ability to make informed decisions?
2. Do you know exactly what employees are actually doing to create and improve value?
Steve describes how the three As - Analytics, Automation and AI improve decision making, create efficiencies and even grow new revenue streams.
People think by comparisons. So let me give you an analogy. I am a big fan of movies – old black and white ones, new ones with special effects, and most types in between. I especially like musicals. One of my favorite musical films is West Side Story, released in 1961. A few years ago Stephen Spielberg directed an updated version of the movie.
The rate of change impacting many of our enterprises and industries continues to escalate. Of the many jobs within our organisations, one in particular has become much more demanding. It’s the role of the CFO. The person responsible for ensuring the organisation they serve is growing both sustainably and profitably.
So then, how do CFOs decide who to hire into their finance organisations to meet and overcome these challenges?
