Other priorities – all equally ranked at 70%
- Enhanced data analytics
- Routine reporting and closing activities
- Process Improvement
- Challenges with regulations
- Transaction planning and readiness
- Changing demands and expectations of internal customers
CFOs can address many of these issues with the many tools and technologies SAP provides including S/4HANA, SAP Analytics Cloud and SAP BTP for AI/ML capabilities that can help CFO’s address many of the priorities listed in the graphic and the list above.
The Impact of Inﬂation
Other highly rated concerns highlight the importance for organisations to prepare for the future and to ensure that appropriate planning tools are in place to help the enterprise become future-ready and contend with soaring inﬂation and rising interest rates.
It also is imperative for organisations to rethink and establish more accurate proﬁtability analysis. Planning and analysis need to be well aligned to allow quick and better decision-making capabilities.
As organisations weigh the impact of rising costs of goods and capital, it will be key to maintain focus on the various levers available to help navigate the changing circumstances. These actions coupled with the right data and analytics and planning strategies can help to drive better results and agility through the challenges organisations will likely face in the coming months.
Automation and process improvement
A majority of CFOs and VPs of Finance – 70% – rank automation and process improvement as a top priority for the ﬁnance organisation over the next 12 months. Automation clearly is top of mind for the CFO as the role expands beyond the purview of traditional ﬁnance activities into areas such as ESG, talent management and supply chain, among many others. Due to this shifting of responsibilities, it is becoming imperative for CFOs to commit to ongoing transformation and the implementation of advanced automation and emerging technologies. CFO’s can leverage tools available from their SAP system to enable both automation and process improvement including SAP S/4HANA's inherent Process Automation, robotic process automation (RPA), built-in artiﬁcial intelligence (AI), and machine learning (ML). For example, SAP’s SAC Planning tool can enable transformation for ﬁnancial planning and analysis (FP&A) processes by integrating sales and operations forecasting, providing comprehensive variance analysis capabilities and integrating management and consolidated reporting across the organisation.