Finance executives have the opportunity to guide company strategy if they can easily tap into accurate up-to-date financial, project, and operational data. But according to the 2010 Global CFO Study, a large percentage of midmarket CFOs don’t have the time or tools to do it. Financial metrics are often produced manually; finance departments spend over 50 percent of their time on transactional activities, and nearly 60 percent are not satisfied with their financial forecasting and analytical capability.
Efficient information analysis, reporting, and budgeting are critical to business success. ERP
- Monitor Performance – The right software enables you to track activities and projects. You can drill down as needed as well as gain a big picture view of organizational performance. You can set key performance indicators (KPIs) and be alerted when performance boundaries are crossed.
- Analyze Data – Next, you can use information gathered during monitoring to develop forward-thinking knowledge. The right software gives you robust analytic tools to gain insight needed to change the direction of negative trends and capitalize on positive trends.
- Plan for the Future – Finally, monitoring and analysis leads to smart planning. The right software helps you compare budgets, forecasts, and plans to actual performance and make appropriate adjustments for the future on the basis of new data and analyses.
To make strategic planning effective and drive growth, an integrated
By Synergy Business Solutions, a West Coast