Cash Flow & Business Intel Among Top Priorities for Financial Leaders

Finance district

Finance district (Photo credit: Jo@net)


CFOs and financial executives are concerned about their organizations’ ability to efficiently and effectively manage cash flow and working capital due to the growing need to address economic volatility with greater precision, speed and flexibility.

A latest survey of more than 220 finance professionals – consisting of CFOs, vice presidents and directors of finance, and controllers included more than 100 questions about primary concerns and priorities in five categories: Process Capabilities for Financial Transactions; Process Capabilities for Financial Analysis; Emerging Issues; Technical Capabilities; and Organizational Capabilities. The top survey results in the Process Capabilities for Financial Transactions category demonstrate the respondents’ continued focus on streamlining the financial close ‑ from improving account reconciliation and financial consolidation processes to the period-end close, finance functions want to achieve greater efficiency in:

  1. Cash forecasting
  2. Period-end close
  3. Account reconciliations
  4. Working capital management
  5. Banking relationships

Profitability analysis and reporting – specifically related to products and segments – along with performance management and business intelligence rank among the top priorities in the survey category of Process Capabilities for Financial Analysis:

  1. Strategic planning
  2. Periodic forecasting
  3. Budgeting
  4. Performance management/executive dashboards/balanced scorecards
  5. Profitability analysis (product, customer, channel, etc.)

Emerging Issues

When asked to rank their priorities in the Emerging Issues category, financial executives selected issues that pose new risks, challenges and opportunities for finance functions:

  1. Changes to U.S. healthcare regulations
  2. Sustainability
  3. Globalization
  4. Workforce mobility

Finance leaders see globalization ‑ largely driven by the potential impact on supply chain management processes and costs ‑ and workforce mobility, which promises numerous business benefits yet also gives rise to new IT and data privacy risks, as areas of concern.

From: Protiviti

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