CFOs & Business Intelligence - How today’s CFOs can be more involved than ever before!
Once upon a time, people believed that CFOs were only for larger businesses, that Senior Finance positions were costly and useful only for maintaining a company’s financial information. Those days are long gone!
In today’s world, your role as a CFO is evolving. With new tools and skills at your fingertips, CFOs are now essential for any aspiring business. We have new methods for companies to outsource affordable CFOs, who not only work flexibly but are also using Business Intelligence to become formidable assets within any company.
Here at Accountancy Cloud, we have the information and solutions you need to improve, including:
- What's a CFO, to a CEO?
- Why should a CFO be involved in Business Intelligence?
- How do companies intelligently outsource a CFO?
What is a CFO, to a CEO?
For a CEO a Chief Financial Officer (CFO) is possibly one of their greatest assets. As businesses grow, companies often discover that strategising financial growth by themselves is a strain.
That’s where you, the CFO, comes in. CFOs are traditionally dedicated to maintaining clear records, managing budgets, and maintaining capital. However, for startups and companies, the benefits of hiring a CFO today are far greater than ever before. For a dedicated CFO, the potential contribution to the business is endless! As to why, and how can a CFO help businesses, that relies on one huge factor - Business Intelligence.
Why should CFOs be involved with Business Intelligence?
Business Intelligence is important to any company, but when the CFO gets involved, they can raise businesses a whole new level. This is why a modern-day CFO’s role in Business Intelligence is essential.
Business Intelligence is now your CFO’s Swiss Army Knife. It’s an umbrella term for so many different facets. It’s not just Business Analytics, it’s also Reporting, Querying, Data Mining, and so much more. Pooling data from a vast array of sources, transforming and organising it, preparing it to be used in ever more practical methods. The plethora of information at your fingertips can make the difference between you being an average CFO, or being the CFO that is critical to the company.
Gone are the days when CFOs would simply manage budgets, and log information onto a bland Excel spreadsheet. These stagnant stores of information would simply sit there, with little usage in the foreseeable future. Now, a CFO’s role in business intelligence is expected to be so much more. By incorporating Business Intelligence, you can become a formidable weapon in any CEO’s arsenal.
To become a modern CFO, you must use Business Intelligence in a variety of ways. You can:
- Collect vast ranges of data more efficiently
- Use visual analytics to make informed decisions
- Identify trends within the company
- Spot weaknesses immediately
The CFO’s value to the company is multiplied when you understand how to use Business Intelligence. No longer are you just involved in accounting, but you are reliable Strategic Advisors! Being able to understand and process all the information at your disposal, you can now provide a complete overview of the entire business.
Outsourcing a CFO
At Accountancy Cloud, we understand that many start-ups struggle to find themselves in a position for Senior Financial Hires. Essential and beneficial as they may be, it is exceedingly difficult. That’s why, as of January 15th 2021, we’re providing an easy solution, both for companies and CFOs.
Companies are now now longer asking ‘Should I hire a CFO?’. They are asking ‘How should I hire a CFO?’
We have entered into a partnership with Juggle Jobs. Their flexible hiring, Accountancy Cloud’s personalised services, in conjunction with our sophisticated and intelligent AI software, means that companies no longer have to pay sky-high prices for professional services. Outsourcing a CFO also provides many other advantages.
We see the potential in our customer’s businesses, and now Juggle’s network of over 45,000 flexible professionals are available to work alongside companies for a fraction of the normal in-house cost, with the Accountancy Cloud Certified badge, of course. Juggle even provides businesses with an in-depth guide on intelligently outsourcing a CFO.
We believe that start-ups have as great a need as larger companies in accessing the most important resources. Without easy access to professionals that can help companies grow, businesses can and do struggle every day. That’s why we can proudly fulfill our clients' needs, and understand that together, we can help each and every business succeed.