The role of the chief financial officer (CFO) has been in an evolutionary phase in the last six months and they now understand the positive impact that digital technology can have on enterprise margins and growth, according to corporate performance management company, Adaptive Insights.
The company’s A/NZ area vice-president, Fintan Diviney, speaking at its recent annual roadshow, said CFOs are no longer dealing with number crunches but are challenging their role and taking on a more pivotal position in organisations to strategically influence the business direction and achieve greater growth through data driven decision making.
Diviney claimed CFOs are now tying tech to business growth and removing outdated legacy systems to accelerate finance transformation and Adaptive Insights aims to help these businesses achieve successful finance transformation.
“We want to take a lot of the manual activities out of the office of finance. With the combination of people, software and process changes, we’re looking to free up time so people can concentrate on their jobs as opposed to being caught up in modifying legacy systems and such,” he said.
Diviney said finance should move from being tactical to being strategic. And he claimed the company has been actively educating the channel on some of the process improvements and technologies in the market that can help them get there quickly and at an affordable cost.
“In A/NZ, the channel is absolutely critical to us. 95 per cent of our project implementations are done via the channel and 80 per cent of our sales are sourced through channel leads. So they need the market education.”
In addition, Diviney said it will be increasing its focus on the mid-market and enterprise spaces.
“We want to dominate the mid-market space and push up into the enterprise space. There is a lot of white space in mid-market and within the enterprise space, a lot of organisations have some type of a legacy system and solution that needs replacing,” he indicated.
This will be done through a focused channel strategy of particular partners focusing on industry segments where they’ve got strengths.
“Partner A might focus on financial services, partner B on government, the next one on not for profits or retail and distribution so it’s getting focused on the vertical.”
Moving forward, the company will be looking to focus on specific solutions and pre-packaging some of its technologies including the profit and loss cash flow balance sheet and personnel planning. Diviney added that it will also increase its investments into partner enablement.
“We’ve just released a new partner portal over the past few weeks. We want to help our partners more on running marketing and sales events as well as core branding on collateral and case studies,” he said.