In the upcoming weeks, Paluma will release a series of weekly LinkedIn posts to answer this vital question. Each post will address a specific challenge CFOs face nowadays and how it can be turned into an opportunity to improve their businesses.

CFOs are facing changes in the business environment at an ever-increasing rate. Today, the exceptional situation created by COVID 19 is speeding this process further. The use of enterprise technology is crucial to support CFOs efforts to keep the pace and to make the best of use of their resources in a changing world.

A landscape where connectivity, automation, digitalisation, big data and cloud are now common lexicon is a landscape where CFOs can no longer survive relying on the traditional practices only. The fast increase of technologic capabilities is driving change in companies worldwide and it is shaping the role of CFO into more diversified responsibilities.

These challenges must be addressed not just as risks but especially as opportunities to better serve the different stakeholders and make the best, most effective use of data and potentiate analytical capabilities.

We identified four challenges CFOs face nowadays and we will address each of them separately:

1. Leverage the use of existing data
2. Influence the effectiveness and monitoring of strategic goal
3. Improve reporting process, auditability and traceability
4. Reduce burden to adapt to a new regulation

Please stay connected to access the first of the four topics “Leverage the use of existing data” next week.

We at Paluma have an extensive track record working with CFOs and supporting organisations in Europe successfully digitalise finance functions, leverage analytics and ensure compliance with new accounting standards. Therefore, we can advise your business with the best solutions to fulfil your goals.

By André Almeida