Friday May 02, 2014

Empowering Modern Finance: The CFO as Technology Evangelist

Guest post by Karen dela Torre, Vice President, Oracle Corporation

We are observing a tangible shift in the finance function. Modern technologies like cloud, mobile, and big data are helping to accelerate the current transformation of the role of finance. In order to gauge exactly where the finance function currently stands and what the future holds, we recently partnered with Accenture on a global research study, “Empowering Modern Finance: The CFO as Technology Evangelist.”

As eWEEK summarized, the study highlights the opportunity for CFOs and other finance executives to be technology evangelists. I recapped this in my previous post, noting the ambition to be a tech evangelist is there, but a gap remains between aspiration and reality.

ZDNet explored this significant opportunity for CFOs. While there is consensus around the finance function leading business transformation, only a small majority is actually leading the way. However, steps are being taken. Baseline emphasized that finance professionals are now bolstering their technical skills while integrating analytical tools and modern applications.

But that’s not all. As Financial Executive discussed, the study also highlighted how the finance function is leveraging modern technologies, like mobile and cloud, to get real-time insights and to drive business transformation forward. In fact, 28 percent of respondents are already using the cloud to support budgeting, planning, and forecasting, and another 34 percent plan to move those areas into the cloud within the next year. That’s a lot of CFO love for the cloud, but I’m not surprised!

As evidenced by the study, the finance function is driving change and taking on the role of technology evangelist in organizations. I think this shift in finance will continue and CFOs will embrace modern technology to gain a competitive advantage and positively impact the bottom line. 

Thursday Sep 13, 2012

The 2012 Gartner-FEI CFO Technology Survey -- Reviewed by Jeff Henley, Oracle Chairman

Jeff Henley and Oracle Business Analytics VP Rich Clayton break down the findings of the 2012 Gartner-FEI CFO Technology Survey.  The survey produced by Gartner gathers CFOs perceptions about technology, trends and planned improvements to operations.  Financial executives and IT professionals can use these findings to align spending and organizational priorities and understand how technology should support corporate performance. 

 

Listen to the webcast with Jeff Henley and Rich Clayton - Watch Now »

Download the full report for all the details -   Read the Report » 

     

Key Findings

  • ·        Despite slow economic growth, CFOs expect conservative, steady IT spending.
  • ·        The CFOs role in IT investment has increased again in 2012.
  • ·        The 45% of IT leaders that report to the CFO are more than report to any other executive, and represent an increase of 3%.
  • ·        Business analytics needs technology improvement.
  • ·        CFOs are focused on business analytics and business applications more than on technology.
  • ·        Information, social, cloud and mobile technology trends are on CFOs' radar.
  • ·        Focusing on corporate performance management (CPM) projects, 63% of CFOs plan to upgrade business intelligence (BI), analytics and performance management in 2012.
  • ·        Despite advancements in strategy management technologies, CFOs still focus on lagging key performance indicators (KPIs) only.
  • ·        A pace-layered strategy for applications is needed (92% of CFOs believe IT doesn't provide transformation/differentiation).
  • ·        New applications in financial governance rank high on improving compliance and efficiency.
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Focusing on solutions for the Office of Finance, this blog will highlight key financial management market trends, events and other news of interest.

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