Real-time and predictive analytics are changing how CFOs manage their company’s finances. With SYSPRO ERP, data can be used to create strategies for growth, profitable capital management, and improved cash flow.
The Right ERP System Makes All the Difference
CFOs today do more than managing cash flows. They are strategic decision makers, charged with helping chart the company’s course through business cycles that can be rough going. With the right ERP system, the data that’s needed to analyze, predict, and respond to the changing demand cycles in the manufacturing business is available upon demand.
SYSPRO ERP offers a scalable, flexible ERP system that provides the right data to your CFO and everyone in the company. With tools including financial management, strategic decisions are easier. Real-time reporting and predictive analytics make the CFO’s job much easier with SYSPRO ERP.
The Strategic CFO
How has the CFO’s role changed? The new strategic role for the CFO encompasses several important distinctions. These include:
- Tying financial insights to KPIs: The CFO can recognize where business goals, KPIs, and finances align. Identifying the key steps to take and the potential financial ramifications of decisions can help the CEO and others make smart decisions. Instead of reactively reporting numbers, CFOs can help shape and guide the company’s actions to achieve milestones and goals.
- Integrated data: Integrated data provides a better foundation for decision making. Before the advent of ERP systems such as SYSPRO ERP, data existed in silos. This made it impossible for management teams to share it easily with board members. If it was shared at all, it was after the quarter was completed. Now, real-time data can help management teams and boards act quickly in areas such as resource adjustments, plant consolidations, mergers/acquisitions, expansions, and more.
- Answer “what if” questions: Predicting next quarter’s sales and expenses can be difficult. Software such as SYSPRO ERP makes it much easier to make accurate predictions by tying data together from multiple sources in real time. The strategic CFO can analyze long-term impacts and build “what if” scenarios that can help the company plan better for the future. An agile, flexible ERP system like SYSPRO ERP makes it possible.
- Respond to mandates and changes: The biggest unknown in any manufacturing business is the changing landscape of regulations including accounting and tax mandates that can shift the company’s business model. A flexible ERP system can help you track and maintain compliance with any changes that can impact your manufacturing business.
- Proactive strategies: CFOs can use predictive analytics and real-time data from SYSPRO ERP to create and enact proactive strategies that help ease the peaks and valleys of cash flow cycles.
The role of the CFO has certainly changed over the years from financial manager to organizational leader. A strategic CFO plays an important part in a company’s success. With the right software and systems in place, the CFO’s role is that of valued and trusted advisor, wise counselor, and strategic leader.
PositiveVision is a full-service software consulting firm dedicated to bringing trust, care, and confidence back to the software consulting industry. We help small and mid-sized businesses find and use software to become more profitable. For more information, contact PositiveVision today.