Screen Shot 2016-07-27 at 1.01.33 PMThis year Protivity conducted a study on the Financial Executives Research Foundation to figure out what their biggest priorities for 2016 are. By January of 2016, they found the top priority for CFOs, VPs of Finance and other finance managers, is Earnings Performance & Cash Flow. Maybe this isn’t surprising to you because 82% of people surveyed had this response. “CFOs ranked cash forecasting at one of the highest priority levels since this survey’s inception. This likely reflects acknowledgement that the process of forecasting cash is more complex than ever. Either way, the old adage is still relevant, “cash is king.”
If you are like us, here at 9DOTS, then the end of the July feels like the end of the year is right around the corner. As a leader ofyour organization, your performance goals are in line with your top priorities and solving your greatest concerns. In order to stay ahead for 2017, focus on the worries of 2016. Managing, monitoring and improving the cash flow process as well as increasing revenue keeps us, as business managers, up at night! How do we do it best? How do we grow our revenue numbers and maintain competitive advantage?
Another survey results by Accenture stated 70% of finance executives use Excel spreadsheets as their business budgeting & financial planning tool. But the number one concern of Excel is that it is error prone. Through this study, as the leader of your organization, you have insight into the top challenges to overcome as a finance executive and regain competitive advantage. There are tools that will better your organization, maintain the comfort of Excel, AND stop the errors while increasing revenue and monitoring Cash Flow. Read our blog post here for more information on staying in Excel, but eliminating the errors that come with it–making it the most powerful financial tool there is.