Changing regulations, trade conflicts, the risk of cyber attacks and the geopolitical context are all obstacles that CFOs will have to overcome to keep their companies competitive in 2020, according to the Pwc* barometer.
What weapons does the CFO have at his disposal to overcome these obstacles?
The challenges facing the CFO
According to the barometer, 44% of organizations surveyed have set up a dedicated risk management team. Among those who have done so, 66% feel that this organization has enabled them to achieve their growth objectives.
Performance management
Data is an essential element in controlling business performance. That’s why 53% of CFOs would like to get their production reports faster, and 62% want to optimize forecasting processes.
Added to this, 64% of CFOs spend too much time producing data rather than analyzing it. Nevertheless, we’d like to point out that 75% of CFOs with analytical tools spend more time analyzing than producing. (see chart below)
Optimizing processes
To achieve his growth objective, the CFO will have to harmonize his internal processes to reduce costs and make them more efficient. Automation is a conceivable solution, and one that they themselves are considering. Several tasks have been identified as being potentially automatable: management reporting, invoicing, budgeting/forecasting, business analysis and payroll management are among them.
Indeed, 65% of CFOs would like to see their processes evolve with digital tools to support their growth.
Automation: a strategic challenge
According to the netwrix** survey, digital transformation is a priority for 88% of French companies. Indeed, French companies are increasingly turning to technology to support their growth. (see chart below)
These tools are springboards for achieving corporate objectives in a tough competitive environment.
ERP for process automation
Among the many tools available, ERP is an effective way of centralizing data and producing reports to enable strategic thinking.
VSA is an ERP dedicated to the Service and Consulting professions, which gives you access to all the data linked to your company’s activity, for comprehensive reporting (cross-tabulations and business-oriented graphs).
The tool’s rich functionality offers you many advantages:
Manage
VSA’s functionalities enable you to manage your customers and your staff with visibility over all your activities, and to act in real time in your processes: invoicing, contract management, absence management, etc.
Improve
You’ll appreciate the sharp reduction in the volume of your time-consuming tasks, so you can concentrate on those with high added value. You’ll notice an increase in your sales force’s efficiency. You’ll be reassured by the improvement and fluidity of your HR processes.
Control and analysis
Get reporting with true, controlled and consolidated data, so you can make the best strategic decisions. You’ll have an overview of your sales and profitability, and you can even go one step further by activating business alerts for even greater proactivity.
Discover VSA’s features at https://vsactivity.com/fonctionnalites/
*Pwc barometer: 2020 CFO priorities
** Netwrix study: IT trends 2020
