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The Data-Driven CFO
Leveraging data and analytic insights to drive outcomes
The financial landscape continues to evolve, but with the right information, today’s CFO can extract a significant amount of enterprise value from data, gaining meaningful insights and positive results from more meaningful actions. Ultimately, in order to compete in today’s digital economy, CFOs must be able to effectively harness their data as an enterprise asset to derive insight from information.
The data-driven CFO is RSM’s term for insightful financial leadership. With the role of the modern CFO becoming magnified and expanding with the digital economy transformation, financial leaders must increase their organization’s data literacy to remain competitive. However, many CFOs continue to struggle with one key issue: their organization’s data is neither reliable nor complete enough to drive consistent results.
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Create a complete data landscape
In order to advance their strategic data program, CFOs must take several steps to achieve a more authoritative information systems environment in order to create a foundation of data of higher integrity and accelerate transformational change. These steps include:
- Identifying and addressing critical challenges in harnessing data
- Becoming a data-empowered CFO, enhancing the overall data-literate culture of the organization
- Implementing data leadership for the modern competitive landscape
As trusted leaders whose insights drive enterprise change, data-driven CFOs balance quantitative analysis with qualitative judgement. Armed with the proper solutions to address data challenges in a rapidly evolving environment, CFOs can produce data and analytic results that provide the basis to form business-changing insights and actions.