It’s no accident that Enterprise Performance Management (EPM) ranks at the top of nearly every survey that evaluates CFOs’ priorities. The role of the CFO has been expanding for years with acknowledgement that the business needs a strategic partner in every decision that is being made across the enterprise. More often than not, corporate decisions are evaluated on the basis of impact to profitability. It’s widely accepted that the more sophisticated (based on detailed data, organizationally comprehensive, and market relevant timeliness) the analysis that can be provided to influence the quality of how decisions are made, the better. Sophisticated analysis when making decisions requires sophisticated solutions (technology, skills, and processes). But how does a CFO start to improve this capability in their organization?
If a problem with the outputs of the process is suspected, savvy CFOs will reach out to trusted advisers, peers, and vendors to see what offerings may be appropriate to help yield an improved process. But this is, in my opinion, where the problems start.