Finance Teams have been sitting through their toughest stress test in recent years and those without the ability to pivot their business quickly have been found wanting.
The global pandemic, geopolitical conflicts, and trade disputes are
disrupting businesses in complex and ambiguous ways. Forecasts and
plans made just weeks prior can become remarkably out of touch, very
quickly. In such a climate, CFOs must be poised to act quickly and be
ready to re-evaluate everything from cash and liquidity positions to their
entire businesses.
Published in partnership with Profit&, The CFO’s “Future of Forecasting”
survey of more than 100 financial directors and CFOs shows that 85% of
firms do not have a dedicated financial planning platform. These firms
tend to rely heavily on traditional centrally-controlled processes that have
not fundamentally changed since the 1990s, and spreadsheets are used
for a lot of financial planning, budgeting, analysis, and reporting.
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