Chief financial officers are being challenged now more than ever to become efficient in processes and drive value. Wading through the myriad of technologies can be daunting.
“Some key priorities CFOs have … are reducing any expenses that don’t contribute to growth or profitability, ensuring the company has the resources to execute on its top operational priorities and focusing on liquidity and cleaning up the capital structure,” says Andrew Steinberg, CFO at Honor Technology.
“It’s going to be really important to look at a few things,” he says. “First, data governance and management are fundamental.” “When creating end-to-end process and financial strategies, CFOs need to make certain that these tools complement one another to build a cohesive and integrated digital ecosystem that works across the board,” he says.
Sehgal says CFOs should be asking questions including, how do we create a futuristic vision for finance? Should short-term gains override longer-term benefits? And how do we fund digital transformation with the current pressures?