“Finance leaders who are slow to leverage technology simply cannot rise to the same level as those who are fortified by it.”
Dr. Vijay Jog, President – CRGroup
Strategic Financial Management for Today’s Finance Leaders
Few senior executive positions have been or will be subject to as much change as that of the CFO. Gone are the days when compliance, number-crunching and sign-off on budgets were enough.
A CFO must now contribute strategically to business growth.
Today’s CFO is expected to streamline all aspects of traditional finance as well as work dynamically by using data and intelligence to influence decision-making and create more value for the company.
The Path to Becoming a Model CFO
1. Automate Traditional Finance Functions
Using modern technology systems, today’s CFO is expected to free-up the time and resources needed to contribute strategically to business growth. This includes automating enterprise resource planning (ERP), budgeting, planning, forecasting, consolidation and reporting.
2. Track Your Customer’s Journey
Having the right information on who the business attracts, what is being sold to whom, customer touchpoints and opportunities for retention or up-selling is critical to business success.
This requires investments in demand-planning or customer relationship management (CRM) technology to track business sales, marketing, account touchpoints and the entire customer journey, as well as reporting and business intelligence systems to uncover trends and insights.
3. Define KPIs that Will Drive Your Company’s Growth
The easiest way to do this is by asking: “How would you know your business is successful and creating value if I were to take away your profit and loss (P&L) statement and balance sheets?”
If a CFO presents business performance in just dollars and percentages but is unable to provide insights about the business origin of that variance and what can be done about closing the gap, they are missing the opportunity to add strategic value.
Creating a Footprint for High Performance:
You Are Invited! CFO Virtual Bootcamp
May 26 | June 3 | 1:30 – 2:30 PM
For CFOs and financial leaders looking to become more strategic in their role, we invite you to join Dr. Jog for a complimentary two-part live webinar session on May 26 and June 3 . Registration is limited.
Explore Leading Technology Systems to Help You Become a Model CFO
For over 30 years, CRGroup has been helping companies in Ottawa and around the world transform how they operate. We Partner with leading finance solutions, and offer leading consulting expertise to guide CFO’s and leaders to success. Book a free consultation today!
"Working with our trusted business partner Corporate Renaissance Group, we deployed a new system that delivers advanced analytics and business intelligence including Cubes, which greatly enhances reporting and vastly improves strategic planning." Read the case study...
Jeffrey Puncher, Director of Finance – Thales Canada,
"We have been working with Corporate Renaissance Group for 15 years strategically planning and implementing changes to Microsoft Dynamics GP and other software to make us more efficient. They have always provided professional and timely responses to our needs no matter how complex or how simple the issue. Whenever we have a need they will find a solution for us. They are a great partner to have in these changing times."
Chris Allen, Director of Finance – The Ottawa-Carleton Association for Persons with Developmental Disabilities (OCAPDD),
"Over the past 5 years we have presented CRGroup with some very unique and complex requests to meet our Dynamics GP and reporting infrastructure requirements; from incorporating multiple 3rd party add-ons and real time automated web based reporting to customized AA budgeting and import tools. We continually exceed our clients expectations with our leading edge systems because CRGroup continually exceeds our expectations."
Julie Williams, Director, Finance – Inside Edge Properties Ltd.,
"I love CRGroup because, as a small customer, they always have a solution to meet my budget and they always make it feel like you're working with a friend. I've been working with CRGroup for over 20 years and hopefully it will be 20 more!"