In the year 2019, no one will feel the effects of financial transformation more than the Chief Financial Officer.
Indeed, as new systems are implemented and available data increases, your whole Finance Department will move from the back office to front line, taking on a role that’s financial with significantly more strategy.
Soon, you and your department will have access to more company, performance and operational data than ever before. And that means that, as a 2019 CFO, you’ll find you become more responsible for your business’s performance and direction…and other things. Welcome to the 2019 CFO era after an ERP Implementation!
Build the right team
With so much data now under your day-to-day responsibility, you’ll need a few different skills on board. So your next hires might well be specialists and focus on things such as analysts and data scientists rather than traditional accountancy roles.
Google ‘predictive analytics’
Of course, you’ll need to have an idea of what your new people do – so make sure you’re familiar with all the relevant terms.
Be ready to answer questions
With all the data and analysis to hand, your department will suddenly become the insight engine of your business, the key source of quality data for decision-making. That means your company will look to you for opinions and answers beyond AP & AR…so best brush up on your reporting and presentation skills!
Know your IT from your FT!
At the core of your changing role is the latest, cloud-based ERP technology. Compared with traditional accounting tools, it makes sure your data is more accurate, more secure and more easily manipulated – all in real time.
To make the most of it, you’ll need to get to grips with the fantastic range of tools it offers you to help make your data clearly understandable to everyone. But that’s easy – just talk to the team at Trustantial by calling 844-TXCLOUD or by emailing firstname.lastname@example.org, and we’ll happy to assist you on every aspect of the 2019 financial transformation!