Top Business Trends Every CFO Should Know
Did you know that global spending on digital transformation efforts is projected to reach $2 trillion by 2022?
To thrive in today’s business environment, in a world with growing complexity, organizations are increasingly relying upon the technological and strategic prowess of their financial leaders, who must navigate a range of new challenges and responsibilities, reporting on the past, managing the present, and creating the future.
So, let’s explore the top business trends that every CFO should know about the future of finance so that they can better evaluate and manage risk, build innovative corporate strategies, and grow their businesses.
Unified data, intelligence everywhere
Through advancements in cloud processing, as well as better business processes and governance, businesses are finally starting to tear down data silos and realize the potential of a fully connected business, one where all of an organization’s data is aggregated into a central database, which both receives and sends data across the organization, in real-time, wherever it is needed.
To be the best they can be, finance leaders need real-time visibility into operations and performance to make informed decisions. From cloud-based data solutions on Azure to intelligent analytics tools in Dynamics 365, we can help finance leaders turn data into actionable insights so they can optimize operations and make more strategic business decisions.
The CFO’s role and workforce evolve
CFOs are taking greater responsibility for strategy and planning, IT, and enterprise risk management moving them from number crunchers to strategic leaders. To make this transition, finance teams must work faster and smarter. At Microsoft, we are empowering finance professionals to do more with tools that streamline processes, provide greater visibility into operations, and deliver
Transitioning to strategic work requires that finance professionals spend less time on routine accounting tasks. From productivity tools, like Office 365, to workflow automation capabilities in Dynamics 365, we can help finance teams get more done, freeing them up so they can spend more time on high-value strategic
Customer experience becomes a top priority
As customer expectations rise, finance leaders are turning to technology to help their businesses deliver the personal experiences that help build lasting customer relationships. To that point, modern businesses must work with greater precision and agility to meet today’s rapidly changing demands. By connecting data from across the value chain, Microsoft Azure and Dynamics 365 help organizations improve communication, predict and respond more quickly to trends, and better manage changes on the fly.
Business models get redefined
As the business landscape changes, finance leaders are transforming their organizations to grow and engage with customers in new and meaningful ways. Many companies have discovered that they can better serve their customers’ needs— and create the type of relationships that endure long after the sale—by using the cloud to transform their products into licensing-based services, while others are turning to new types of partnerships and geographies to expand their footprint.
These changes are not mere derivatives of their existing offerings but represent a more fundamental reimagining of their business models and how they serve their customers, allowing them to differentiate their offerings and gain a competitive edge in a rapidly changing business environment.
Dynamics 365 can help you maximize financial visibility and profitability as well as integrate and automate your core business processes to maximize user productivity. It’s time to see how Dynamics 365 can help you make data-driven decisions and take your business growth to the next level!