By The Center Team on November 30, 2020

Posted in Reading List

News and insights to keep you up to date and on track: the future of the finance function, spreadsheet warriors, using AI to manage compliance risk, and more.

The CFO of 2030

Hal Polley for CFO | @cfo

A panel of CFOs discusses their evolving roles and the importance of driving technology transformation and data management, now and in the future.

"Historically, CFOs have reported on results. That’s still going to be critical and not going away. But, we need to produce forward-looking metrics and share those metrics [with] additional stakeholders within the business. That’s the future of the CFO function."

More on how new tools can help finance increase strategic impact: Is Your Finance Team Under Pressure? Eight Ways Center Can Help

 

Meet the Excel Warriors Saving the World from Spreadsheet Disaster

Nicole Kobie for Wired UK  | @WiredUK

Even Excel power users make mistakes. A group of Excel auditors has emerged with the goal of identifying common and potentially costly errors in spreadsheets and fixing them for their mystified clients.

"Research suggests more than 90 per cent of spreadsheets have errors, and half of spreadsheet models used in large businesses have 'material defects.'”

Some simple fixes for the most pervasive problems with spreadsheets: Are Spreadsheets Something to Celebrate?

 

3 Strategies to Define Your Company's Culture

Mattson Newell for Inc. | @Inc

As a company grows, its culture should also grow with it. Here are tips on how to manage your organization’s culture as you scale.

"Culture impacts results. We know results are top of mind for every leader, and there are plenty of strategies designed every day to answer how to achieve, measure, and grow results. How to scale culture still defies many leaders struggling to build a sustainable culture."

Fiscal culture is company culture. What’s yours? 

 

Tech Should Enable Change, Not Drive It

Dan Higgins and Nicola Morini Bianzino for Harvard Business Review| @HarvardBiz

The pandemic has not only illustrated the importance of technology for business, but shown that people are a company’s greatest asset. 

"Technology should remove friction and allow people to do their jobs, while enabling speed and agility. This means ensuring a culture of connectivity where there is trust, free-flowing ideation, and the ability to collaborate seamlessly."

How Center helps finance teams work smarter: Doing More With Less: Rethinking Expense Management Now

 

The Impact of COVID-19 on the Finance Function

Raef Lawson for Strategic Finance| @SFMagazineIMA

Companies have faced a variety of challenges in the current economic climate, and this global study examines the effect of COVID-19 on finance functions in particular.

“The current economic environment is presenting challenges to finance functions on several levels. It’s necessitating a shift in priorities, with increased emphasis on risk management and cash forecasting and management.”

More insights from Center CEO Naveen Singh: The Pandemic Forced Finance Teams to Finally Fix Inefficient Processes

 

Meet Modern Compliance: Using AI and Data to Manage Business Risk Better

Kim David Greenwood, Sean Torcasi, and Matt Kral for strategy + business | @stratandbiz

New government guidelines mean increased responsibility for businesses managing compliance. Technology is essential for reducing risk.

“Strong, tech-enabled, third-party risk management capabilities can strengthen corporate governance, which will in turn enhance reputation and build trust. In essence, compliance should no longer be seen simply as a backroom cost center.”

Center is one core digital transformation project you can start and finish in days, not weeks or months: Does Your Expense Automation Stop at the Back Office? It Doesn't Have To.

 

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