It’s no coincidence that the Chief Financial Officer’s (CFO’s) expanding role as a strategic business leader has coincided with the expanding role of digital technologies and data-driven decision making within the corporation. In companies that have successfully navigated the economic turbulence of recent years, CFOs have emerged as key leaders by helping their companies leverage mounting stores of data to address competitive challenges, such as managing risk and working capital, sustaining growth and charting a long-term path forward towards growth.
In working with companies throughout the world, Dun & Bradstreet, a global leader with 250 million business records on businesses large and small, public and private, has found five key foundational elements for collecting, analyzing and, ultimately, leveraging data that helps CFOs as they develop their tactical and strategic plans to deliver growth. These key elements include:
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- The need for cloud capability that enables efficient access to and sharing of data.
- A robust data cleansing and enrichment program that is accurate, complete, and always up-to-date.
- Powerful analytics that rapidly generate insight and answers from your data so CFOs can find opportunities for growth and identify risks.
- Automated processes that facilitate collaboration among departments.
- Dashboards and tools that are easy to use and present insights on key financial measurements in a digestible way for decision makers.
With this foundation in place, CFOs and their finance teams will spend less time performing routine tasks and more time contributing to enterprise growth.
For more insights download one of Dun & Bradstreet’s premium whitepapers, provided here exclusively complimentary. For more information on Dun & Bradstreet please visit www.dnb.com.