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.