Finance and Accounting Professionals are the New Corporate Superheroes | Part Two

Finance and Accounting Professionals are the New Corporate Superheroes – Part Two

— You, as a finance and accounting professional, should likewise be preparing for a dramatic evolution of your role. Take a moment to think about what is currently on your responsibility list … AR/AP; payroll; reporting, month-end close, etc. Perhaps you manage these areas, analyze data or are the CFO over finance and accounting departments. What do you spend the bulk of your time doing each day? What we hear from so many people in your roles is that they are still primarily task-oriented, struggling each day just to meet deadlines and get their basic jobs done. This is true even at the highest levels, where CFOs and their immediate staff are kept busy with the clutter of everyday tasks.

We are beginning to see, however, that as more and more finance and accounting tasks are automated with cloud software, which also improves data accuracy and reduces the need for re-work, less time is required to get these day-to-day responsibilities accomplished within deadlines. So, this situation begs the question … what is everybody now doing with all that spare time? How should professionals in these roles think differently about their jobs to advance their own careers, as well as the scope of their contribution to their companies?

Strategic Business Analytics – Nobody is Better At It Than You

We once heard someone say, “It’s such a shame that all our data is aggregated, all in one place, with great reports and dashboards, but no one is actually DOING anything with the information.” What can be learned from the trends your company’s data is revealing? What business are you losing by not paying attention to your data? Which departments are lagging in meeting deadlines and work accuracy? Evolve your role to ask the hard questions that will make a huge impact on your company’s strategic goals and enable a quantum leap in business growth.

Financial and accounting mavens possess a deep understanding of the way businesses function and how companies are valued. This knowledge gives you keen insight into what future possibilities exist for strategies, products, expansions and diversifications. You can lead the way in bringing a collaborative and unified mindset to your organization so that all departments “think with one brain” to solve the really big strategic problems. You’ll need to take a disciplined approach, however, to wisely use the time now available to you as a result of task automation. Don’t get left behind because you’ve grown accustomed to working tactically for so long. Being freed from the constraints of mounds of tactical work and unreasonable deadlines can open your mind to contribute to paradigm shifts for your company.

Want to learn more about being a finance and accounting superhero? Contact InnoVergent at info@innovergent.com.

Next: By illustrating the benefits you’ve reaped by better managing your financial data and streamlining tasks, you’ll shine the spotlight on your own best practices that can then be replicated throughout your company.

Did you miss part one of the Corporate Superheroes blog series? Click here!

2018-10-03T14:43:57+00:00

About the Author:

Director of Technical Services at InnoVergent

Is your business leaning on Excel spreadsheets for budget and forecasting?