Flashing indicator lights, early warning system, advance notice… we hear a lot of variations on this looking ahead theme from CFO’s when we talk about what they want more of.
We translate these wishes to the following imperative… paraphrasing:
Yes, getting my historical data in great shape is important but it’s the beginning of a longer progression I’m after. Once it’s in place, I want to know earlier what that accurate historical data can tell me about what hasn’t happened yet. So that I can take some action to effect it.
Easy to wish for, hard to do. But the quote speaks to the double benefit to be had if you can get your data to start signaling you in this way.
First you’re getting ahead of problems, creating more runway to work on them. And second, you’re getting information that helps ask better questions to inform that work.
In both cases, examples of what CFO’s wish for on this bigger progression for Finance from a historical to a more predictive mindset.
What are your wants when it comes to data access and management? Let us know on LinkedIn.
