The length of time it takes from the kick-off to the budgeting process to final approval reflects the efficiency of the Budget process and, as we all know, time is money. A faster Budget cycle puts less strain on human resources, systems and operating units giving them more time to focus on growing and improving the business instead of debating the measure at which their performance will be judged.

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The Evolution from Hunch to Hypothesis

Excerpt from Deep Finance: Corporate Finance in the Information Age

Embracing digitization to increase efficiency and data availability is crucial to shifting the old school finance mindset. Historically, CFOs have stayed away from technological developments in operations, but letting this separation occur in the age of analytics can slow a company down more than a member of the finance team using paper ledgers or old-school calculators.

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Getting timely, accurate, forecasted financial information allows a Company to make educated decisions that drive and sustain long-term value. Which is why Financial forecasting continues to be a high priority for many CFOs. In this context, Financial Forecast does not refer to a budget but a financial iteration or scenario. For example, a budget could be set once a year and take anywhere from 30 days to 6-months to finalize. A Financial Forecast may leverage the data within the budget but makes assumptions regarding future performance that is modeled over a predetermined time period and used to drive management decision making including the identification of new opportunities, mitigation of risk and the matching of revenue and expenses.

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​Kevyn and Steve discuss how a strong relationship between finance and human resources is value creating for our businesses.

Kevyn encourages leaders to develop a strategic view of talent centered on professional development where success is measured in terms of quantifiable performance improvement. An added bonus, recruiting and retention are also enhanced through strong professional development programs.

Enjoy the CFO Talk.

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Seven Benefits of Finance Automation + One bonus perk that may prove to be the most valuable of all

The benefits of finance automation are manifold and include improved efficiency, accelerated productivity, reduced costs and increased profits, improved scalability, increased employee value, higher employee satisfaction and better data. But there is another benefit that goes beyond the income statement and direct to your company’s balance sheet: automation can increase the value of your business.

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