A CRO’s Perspective
The Office of the CFO is undergoing transformation, with data as the catalyst. A recent survey by Intacct indicates CFOs now spend less than 30% of their time closing the books. They’re spending more time getting their arms around company data … beyond financials. This includes CRM, ERP, R&D and other critical data, which are essential to managing corporate performance.
As Chief Revenue Officer (CRO), I manage our business with a variety of KPIs and metrics for pipeline health, deal velocity, sales stage progression, net new versus upsell/cross sell, forecasting accuracy, win/ loss ratios, book to burn ratios for Pro Services and much more. As such, it’s critical I have the right financial and operational data at my fingertips. With that data (key requirement for data to be sanitized and validated) I can manage the business numerically and contextually. I can also predict with a high degree of accuracy potential outcomes.
With a variety of data at their disposal, CFOs can provide a complete view of the enterprise to CROs and, indeed, the entire C-Suite and their operational teams. The CFO becomes the driver of more efficient and effective corporate performance management.
If you manage your business by the facts, with substantive data to support your decision making, you will want your CFO enabled in like fashion.
Read more about transformative CFOs and data – and technology that advances business insights- in The Future of AI & the Office of Finance post from my colleague, Darren Peirce.