New research from the American Institute of CPAs (AICPA) and Oracle has uncovered the traits of agile finance organizations, and how they are leading the charge towards digital within their own companies.
The report, Agile Finance Revealed: The New Operating Model for Modern Finance, surveyed 480 senior finance professionals in North America. The researchers found that agile finance functions focus on improving the delivery of services and strategic guidance to the business in three main areas:
Agile finance functions have high-performing teams that are responsive and flexible, embrace digital technologies, automate many end-to-end finance processes, and invest in analytic and strategic skill sets. The research found that agile finance leaders are more effective at delivering forward-looking analyses that identify new business opportunities.
The study also found that companies with agile finance teams are more successful at launching a new product or service, and are more likely to report positive revenue growth.
Unfortunately, only about 30 percent of the finance leaders surveyed felt that their own teams were operationally agile.
In this two-part webcast series, AICPA and Oracle take a closer look at the new operating model for modern finance—one that supports digital business models and new ways of working.
In Part I, we shared the key traits of agile finance organizations. We looked at how agile teams are automating back office processes using cloud-based ERP and EPM solutions—as well as digital accelerators such as robotics process automation, machine learning, and artificial intelligence—to achieve best-in-class measures of operational efficiency.
In Part II of the webcast series, we will dive deeper into the attributes of the new operating model that enable CFOs and their teams to drive better outcomes for the business. With better information to predict the future, finance departments are able to harness cloud and digital technologies to improve the efficiency and responsiveness of their management reporting, decision support, and business partnering activities.
Speakers for this webcast include:
Attendance at this webcast qualifies as one Certified Public Accountant (CPA) credit, one Continuing Professional Development (CPD) credit, and one Certified Management Accountant (CMA) credit.