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Advice and Information for Finance Professionals

How Agile is Your Finance Organization? Find Out Now

Lynne Sampson
Managing Editor

When it comes to finance, are you a leader or a laggard?

Oracle recently partnered with the American Institute of CPAs (AICPA) to investigate the traits of the most successful finance organizations. We found that the best finance teams are agile: more efficient and automated, able to shift gears based on better, more reliable information, with more time to strategize and influence the direction of the business.

What’s more, businesses with agile finance teams were, overall, more successful than their competitors with more traditional finance functions.

What separates the leaders from the laggards?

Centralized Centers of Excellence

[Click here to enlarge the infographic]

Agile finance leaders are typically far ahead of their peers when it comes to implementing financial planning & analysis (FP&A) centers of excellence, deploying cloud services such as enterprise performance management (EPM), and introducing a raft of other innovations such as robotic process automation.

Broad Skill Sets

Agile finance leaders are far more likely than others to rate the skill level of their finance teams as “excellent,” especially in non-traditional skills such as:

  • Data visualization (60% vs. 24% of others)
  • Big data (60% vs. 21% of others)
  • Influencing skills (55% vs. 23% of others)

Standardized Processes in the Cloud

45 percent of agile finance teams have standardized their finance processes on cloud ERP, versus only 17% of laggards. And there are more traits that set the leaders apart from the laggards.

To take a closer look at the results, including industry-specific comparisons, view the full-sized infographic or get the interactive report.

Learn what makes a finance leader. View the infographic.

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