Roadmap to Success: How a Financial Advisory can Support CFO Decision-making

As companies emerge into the new post-COVID reality, Chief Financial Officers (CFOs) are being tasked with finding innovative opportunities to facilitate growth and value creation while mitigating risk. In the face of increased market volatility, changes in customer behaviour, and a hybrid work environment, rapid digitalisation is required in order to stay competitive and streamline business processes.

Digital transformation is a key area CFOs are advised to prioritise for success in 2022. Engagement with new technologies across the finance function comes with many benefits, from task automation to enhanced performance management and reporting strategies. However, Fortune recently reported that less than 20% of CFOs are confident that their finance team can support company growth over the next five years, or be able to find candidates with the right technological skills to push forward with digital transformation.

To fill these gaps in knowledge and make informed decisions regarding digitalisation, more CFOs are choosing to consult financial advisories – experts in optimising financial processes, creating strategic roadmaps, technology selection, and data management. A financial advisory works directly with the office of the CFO, bringing extensive industry experience to the table in order to implement lasting change. So, what specific challenges can advisories help finance departments overcome, and what should you consider when selecting a financial advisory? Our advisory team offers some clarity on the matter:

When should CFOs consult a professional financial advisory?

More than ever before, it is vital for companies to have an efficient finance department which can inform and support decision-making across the organisation. As a CFO, you may be aware of how useful task automation, forecasting and reporting tools, and smart analytics can be in improving business outcomes, but unsure of how exactly these changes can be quickly and effectively implemented.

Financial advisories are adept at both identifying potential improvements, and providing a tailored technology roadmap to help achieve your goals.

An advisory team can also assist you in restarting a stalled digital transformation, evolve the skillsets of your team to leverage new cloud-based and AI technology, and offer clarity on digitalisation to overcome organisational or cultural resistance to change which can delay wider technology adoption.

What advisory services do expert consultants like Bluetree provide?

We’re in the unique position of being both a finance and technology advisory, meaning that we support our clients to achieve their strategic initiatives from initial planning stages right through to execution. To that end, we offer a range of advisory and implementation services including performance management and reporting strategies, roadmap development, technology selection, data management, process improvements, rapid prototyping and custom-built solutions.

At Bluetree, we believe that all corporate planning, reporting, and analytic functions must be deeply rooted in an organisation’s strategy and objectives to ensure success, while carefully incorporating stakeholders, existing business processes, timing, and available technologies. Once you have decided on a particular tool or to make improvements to an existing solution, our functional & technology experts and certified project managers are in the perfect position to execute any implementation project for you. Our status as an SAP Gold Partner provides you with additional reassurance that you are in good hands.

What should CFOs look for when choosing a financial advisory?

The ultimate goal of any financial advisory is to help their clients achieve financial and business success. In the case of CFOs, we aim to empower you and your entire finance department with the ability to rapidly evaluate opportunities and accurately predict outcomes in order to achieve company growth, value creation, and measurable positive change.

When researching financial advisories, look for evidence that the team understands the challenges of contemporary CFOs, and has a comprehensive understanding of leading practices and trends which could benefit your business. This evidence could come in the form of industry publications, a partnership with a leading technology solution provider, or an impressive client list. Approaching a large, well-known advisory might not be the best choice – smaller teams are often more agile and focused on creating long-term relationships with their clients. Also, selecting a financial advisory which offers both advisory services and technology implementation can help you save money in the long run.

Looking to transform your finance organisation for future success? Contact Bluetree to learn more about our financial advisory and implementation service today.

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