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Oct 05, 2013

CFO’s top technology priorities highlight Business Intelligence

Author: Alexandra Stanculescu

As a recent Gartner study shows, Business Intelligence and analytics investment will address many technology gaps for the CFO in 2014. Surprisingly (or not), the study also revealed that the CFO prioritizes business applications higher than the CIO does. The same study reveals the financial industry’s journey to the maturity that enables it to address business intelligence solutions with a much more comprehensive perspective than ever before. Understanding BI’s significant impact and insight, CFO have shifted focus from the here-and-now drawbacks of the investment itself, to the many long-term advantages of improving decision-making and performance management:

  • 59% of financial executives surveyed identified a need for improved technology that will facilitate analysis and decision-making
  • Performance measurement/scorecards/dashboards have become a top priority in the area of corporate performance management
  • 84% of financial executives believe half their transactions will be delivered through SaaS

Traditionally, the Chief Financial Officers have their interests limited to the hands-on money-side of the business. Now, their influence is expanding to cover more and more sides of the daily decision-making process, reaching debates more subtly related to finance. CFOs are taking a lead role in a company’s strategic decision-making process.

If you’re interested in finding out more about how the financial industry and CFO can employ business intelligence to drive growth for their business, keep in touch through our RSS feed. We’ll be exploring this topic in more detail with future articles.

In the meantime, tell us about what you’d like us to cover with our next issues: are there any related unresolved doubts or challenges within your company? Feel free to share them with us in the comment section below, or join us for a private e-mail talk.

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