Finance Feature Assessment
When it comes to the CFO’s job description, automation is an important feature to consider. According to a recent study, finance teams spend 20 percent of their time manually combining data. The latest versions of FP&A Platforms include features that automate these processes. These tools help users view and manage specific metrics and forecast budgets, cash positions, and customer payments.
One of the most important features of finance is the ability to plan ahead. This means evaluating the available resources and seeking out investment opportunities. Investing money creates wealth and profits and many opportunities are available in the market today. Some examples of investment opportunities are purchasing real estate, buying stocks, and other financial instruments. In each case, the expected return on the investment will vary depending on the market and the economy.
A modern finance function is integral to an organization’s long-term success. It must be fit-for-purpose, and it must address the needs of the business. This finance feature assessment tool helps management teams and boards determine what areas need to be addressed. The results of the tool will identify priority areas for improvement, and it can be used in conjunction with two other reports to define the future of the CFO and the role of accountants in the business.