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.
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
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?
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?
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
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
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.
We’re here to help you optimize your spending so you can come out stronger. Stay up to date with the latest insights on business strategy, company culture, and finance.