{"id":9162,"date":"2017-03-14T14:47:32","date_gmt":"2017-03-14T14:47:32","guid":{"rendered":"https:\/\/ca.syspro.com\/blog\/cfo-role-changing-in-the-digital-age\/"},"modified":"2021-03-04T14:49:38","modified_gmt":"2021-03-04T14:49:38","slug":"cfo-role-changing-in-the-digital-age","status":"publish","type":"post","link":"https:\/\/ca.syspro.com\/blog\/erp-for-manufacturing\/cfo-role-changing-in-the-digital-age\/","title":{"rendered":"CFO Role Changing in the Digital Age"},"content":{"rendered":"<p>Remember that old Bob Dylan song from the Sixties? \u201cOh the times they are a-changing\u201d? The song has rarely been truer than now as technology reshapes traditional roles into new ones.<!--more--><\/p>\n<p>For example as evolving technology outpaces traditional static reporting, real value is being realized by using real-time and predictive analysis to assist finance professionals in making quick, fact-based decisions.<\/p>\n<p>Sound investment and selection of the right enterprise resource planning (ERP) solution is a game changer for this new brand of strategic CFO, providing that person with a powerful way to gain quicker insights that drive both the company\u2019s growth and bottom-line strategy.<\/p>\n<p>Finance will be integral to decision making \u2013 working even closer with wider teams in the business. The changing role and key attributes of the strategic CFO include:<\/p>\n<ul>\n<li><strong>The Deliverer of Financial Insights Tied to Corporate Vision \u2013 <\/strong>Whereas the CEO has the top responsibility for the business vision and culture, it is the role of the CFO to identify and recognize key actions and the financial ramifications that can help to make that vision a reality. Gone are the days when CFOs simply reported past financial performance and predicted the next quarter based on someone else\u2019s data.<\/li>\n<li><strong>Support for Boardroom-Level Decision Making \u2013 <\/strong>For years, siloed data has prevented management teams and boards from being able to act as quickly as they would like in areas such as expansion plans, mergers\/acquisitions, resource adjustments, plant consolidations, etc.\u00a0 By ensuring that the ERP choice can quickly consolidate and deliver this information, the CFO increases their value exponentially to Boards.<\/li>\n<li><strong>The Analyzer of the Long Term Impacts of IT\/ERP Choices \u2013 <\/strong>Too often, ERP vendors push their solutions from self-serving premises. A great example here would be on technologies that limit choice\/customization, deployment options, provide limited integration capabilities and\/or require extensive training or fat maintenance contracts.\u00a0 Informed, strategic CFOs make it their business to ask the \u201cwhat if\u201d questions that can have major top and bottom-line impact financially, and in turn this consideration would require agility from their ERP solution.<\/li>\n<li><strong>Compliance Gatekeeper \u2013<\/strong> Perhaps the greatest unknown to today\u2019s modern strategic CFO is what regulatory\/accounting\/tax mandates could totally shift the company\u2019s business model. Insisting that flexibility is a relatively low-cost component of any new ERP solution being evaluated may make the difference between a company that is in business today or one that is out of business following a major legal change.<\/li>\n<\/ul>\n<p>Above all, the strategic CFO\u2019s role in manufacturing and distribution organizations is to help their organizations find IT solutions with capabilities that save time, money, resources, and that scale cost-effectively. The CFO\u2018s role will continue to evolve in this digital age and have a dramatic impact on the ERP solution selected by business owners moving forward.<\/p>\n<p>The times they <strong>ARE<\/strong> a-changing&#8230; Are you?<\/p>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 2<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span>Remember that old Bob Dylan song from the Sixties? \u201cOh the times they are a-changing\u201d? The song has rarely been truer than now as technology reshapes traditional roles into new ones.<\/p>\n","protected":false},"author":147,"featured_media":6845,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[21],"tags":[91,7,88],"class_list":["post-9162","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-erp-for-manufacturing","tag-erp-and-financial-management","tag-erp-implementation","tag-selecting-erp"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>CFO Role Changing in the Digital Age<\/title>\n<meta name=\"description\" content=\"CFO\u2019s role is changing in the digital age. 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Using ERP to provide real-time analysis assists CFO\u2019s in making quick, fact-based decisions.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ca.syspro.com\/blog\/erp-for-manufacturing\/cfo-role-changing-in-the-digital-age\/\" \/>\n<meta property=\"og:site_name\" content=\"SYSPRO Blog\" \/>\n<meta property=\"article:published_time\" content=\"2017-03-14T14:47:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-03-04T14:49:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ca.syspro.com\/blog\/wp-content\/uploads\/2020\/12\/jp_cfo_digital_age.png\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"410\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"JP van Loggerenberg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"JP van Loggerenberg\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ca.syspro.com\/blog\/erp-for-manufacturing\/cfo-role-changing-in-the-digital-age\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/ca.syspro.com\/blog\/erp-for-manufacturing\/cfo-role-changing-in-the-digital-age\/\"},\"author\":{\"name\":\"JP van Loggerenberg\",\"@id\":\"https:\/\/ca.syspro.com\/blog\/#\/schema\/person\/11a5f4e353951bb6a5798f0c43ff3783\"},\"headline\":\"CFO Role Changing in the Digital Age\",\"datePublished\":\"2017-03-14T14:47:32+00:00\",\"dateModified\":\"2021-03-04T14:49:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ca.syspro.com\/blog\/erp-for-manufacturing\/cfo-role-changing-in-the-digital-age\/\"},\"wordCount\":480,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ca.syspro.com\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/ca.syspro.com\/blog\/erp-for-manufacturing\/cfo-role-changing-in-the-digital-age\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ca.syspro.com\/blog\/wp-content\/uploads\/2020\/12\/jp_cfo_digital_age.png\",\"keywords\":[\"ERP and Financial Management\",\"ERP Implementation\",\"Selecting ERP\"],\"articleSection\":[\"ERP for Manufacturing\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ca.syspro.com\/blog\/erp-for-manufacturing\/cfo-role-changing-in-the-digital-age\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ca.syspro.com\/blog\/erp-for-manufacturing\/cfo-role-changing-in-the-digital-age\/\",\"url\":\"https:\/\/ca.syspro.com\/blog\/erp-for-manufacturing\/cfo-role-changing-in-the-digital-age\/\",\"name\":\"CFO Role Changing in the Digital Age\",\"isPartOf\":{\"@id\":\"https:\/\/ca.syspro.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/ca.syspro.com\/blog\/erp-for-manufacturing\/cfo-role-changing-in-the-digital-age\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/ca.syspro.com\/blog\/erp-for-manufacturing\/cfo-role-changing-in-the-digital-age\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ca.syspro.com\/blog\/wp-content\/uploads\/2020\/12\/jp_cfo_digital_age.png\",\"datePublished\":\"2017-03-14T14:47:32+00:00\",\"dateModified\":\"2021-03-04T14:49:38+00:00\",\"description\":\"CFO\u2019s role is changing in the digital age. 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