Increasingly, companies are striving to be data-driven. Decisions are not only informed by data but are made precisely because of data. This enables companies to make more prudent and productive decisions which can help them discover and leverage their competitive advantages.
Financial data has emerged as one of the most important sources of such crucial insights. Financial business intelligence (BI) is a vital component in the C-level decision-making process. Correct and sound financial data helps companies understand their profit margins, costs, cash flows and other business-critical metrics. Since it falls into a CFO’s responsibilities, this role needs to be reconsidered in line with the new business requirements of today.
Author: Sophia Brooke