June 3, 2016
Every two weeks we will share some of the best articles we’ve found that cover the most pressing topics in business, finance, tech and more. Follow along on a daily basis with our Twitter account @Vendavo and on our LinkedIn company page.
For sports fans, it’s a packed time of year. From the NBA Finals to the Stanley Cup Finals to the French Open to Copa America, Euro 2016 and the upcoming Olympics in Rio, there is no escaping sports-related headlines. Luckily for you, we’ve found a few that provide insight into some recent changes in finance.
Synopsis: For decades, the CFO was seen almost exclusively as the gatekeeper of the company’s finances. This is changing quickly with the increased speed of business operations and data analysis. In the modern business marketplace, CFOs must adopt new skills that make them versatile, flexible, and better prepared for the lightning fast changes that come on a daily basis.
Key Quote: “No other function is able to provide more immediate value in improved decision-making to address today’s challenges than finance.”
Synopsis: The quantity of data available to companies is presenting a challenge to all departments, but most notable is the pressure felt by finance and CFOs. To ensure, profitability, efficiency, and operational success, CFOs and other financial leaders must embrace data analytics and integrate them into the organization’s priorities, strategies, and tactics.
Key Quote: “After setting an organization’s strategic objectives, it is crucial that CFOs and finance leaders engage with the rest of the organization to ensure data analytics become engrained in routine decision-making.”
Synopsis: A recent survey of CFOs and finance executives found the relationship between Sales and Finance could be a key factor in a company’s profitability. Strong communication between the departments ensures profitability drivers are understood by everyone and the organization’s objectives are aligned across departmental lines.
Key Quote: “If your company is looking to positively…impact its profitability…a swift change in direction from the traditional profit growth strategies to a data-based collaboration between finance and sales improves overall performance and protects your business from dips in profitability.”
For a look at previous editions of the Social Roundup click here and be sure to check back in two weeks for more updates!