In my previous blog I discussed the four critical components needed to develop effective business forecasting and planning. When it comes to these components, and how effectively organisations are using these, I have seen three consistent scenarios within organisations.
How good would it be if, from a business and finance perspective, you were able plan with greater confidence?
Clean data is good data. There is no doubt about that. Every executive worth their salt knows better decisions stem from accurate and timely information. When information isn’t current, relevant and precise then the decisions arising are either lucky or bad.
The National Disability Insurance Scheme (NDIS) scheme is here and it is rolling out in pilots across early adopter community services organisations. The NDIS introduces patient-based revenue model has implications for your performance management.
The role of the finance department and, in particular, the CFO is changing fast. Against a backdrop of rapidly evolving technology, business leaders are expecting more from their finance executives.
In a recent gathering of CFOs one brave individual shared their pain. It was a familiar theme I have seen played out many times. The issue they faced was the relentless number of requests for a business forecast.
Across all areas of business, finance professionals are among the most sophisticated users of IT tools. The applications they build perform highly sophisticated data extraction and modelling as well as highly aggregated dashboard views; all using Excel!
The word transformational is being used a lot lately in the business world. I spoke at the recent CFO Symposium which was themed The Transformational CFO. It’s made me think about what it really means in the context of a business. What does it look like?