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Re-inventing finance for a digital world

Good morning! Most forward-thinking finance leaders are looking to transform the finance function fro
Own Your Close
Re-inventing finance for a digital world
By FloQast • Issue #105 • View online
Good morning!
Most forward-thinking finance leaders are looking to transform the finance function from a cost center to a value center.
That’s according to a report by the Association of International Certified Professional Accountants, Re-inventing finance for a digital world, which also reported that “…finance and accounting professionals are spending more than half (64%) of their time gathering information and analyzing it for insights and only a third (36%) of their time communicating these insights to influence decision-making and guiding actions that create value for the enterprise.”
The good news is, technology is enabling us to spend less time on number crunching, giving us more time back for higher-value activities. And, thankfully, business investment in software has finally caught up with our digital aspirations. In the first quarter of 2019, for the first time, American companies spent more on software than on IT infrastructure. Cloud is winning!
Meanwhile, the accountant unemployment rate was just 1.8 percent in the same quarter, making it all the more important to be leveraging software solutions to make our teams more productive and eliminate tribal knowledge, since employees probably won’t stick around as long as they used to.
My takeaway: If you’re looking to make the case for purchasing close management software to your controller, CFO, or CEO, there’s never been a better time!
For these stories and more of the best links I’ve clicked on recently, keep on scrolling.

Future of the profession
Cloud computing is past the tipping point
If the Economy Booms, Thank Software
Accountants at nearly full employment
Quarterly earnings
Quarterly earnings have outlived their usefulness
Lease accounting
WeWork's CEO says the way it rents out office space makes companies' financials look better. Some experts aren't sure how legitimate the pitch is.
Fraud
Scammers Target ACH Transactions
CPA versus CMA
The gender pay gap
For Management Accountants, Gender Pay Gap Is Closing
Remote work
According to research by ADP, the most engaged employees work remotely 4-5 days per week.
According to research by ADP, the most engaged employees work remotely 4-5 days per week.
What's new with FloQast
FloQast Celebrates Its First-Ever User Conference in San Francisco
Thanks for reading, and have a great week! Want to connect with me online? Look me up on LinkedIn.
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FloQast
By FloQast

A newsletter for accountants, controllers, and providers of outsourced accounting services. Subscribe and stay up-to-date with the latest in accounting technology, new regulations, and management tips. For additional resources for management accountants, visit https://floqast.com/resources/. FloQast (where I work) is close management software built by accountants for accountants to help them close faster and more accurately.

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