Subj : CFOs and finance teams really want to get involved in tech innova
To   : All
From : TechnologyDaily
Date : Wed Mar 01 2023 11:30:03

CFOs and finance teams really want to get involved in tech innovation

Date:
Wed, 01 Mar 2023 11:28:23 +0000

Description:
Finance teams can be more clever with their own finances by getting help from 
automation technologies, Microsoft says.

FULL STORY
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A Microsoft study has emphasized the new pressure facing CFOs and their teams 
as they struggle to balance strategic innovation with their companys 
financial goals and long-term financial health. 

The report explores the effects of the pandemic which changed the role of 
CFOs, who went from fiscal planning to driving innovation amid global 
economic uncertainty, to the point that 79% of finance leaders believe they 
must play a significant role in business innovation to meet future needs. 

Key to success is the successful deployment of technology, which Microsoft 
explored in a complementary blog post . CFO job role expanding 

More than eight in 10 (82%) of finance leaders recognize the importance of 
artificial intelligence and other automation technology to support their 
organizations goals, which can help decrease human workload and free up time 
to focus on things that require specific skills and concentration. 

Data, for example, can be an expansive environment that needs to be boiled 
down to presentable information in order to recognize trends, predict future 
performance, and refine other areas of business. Despite this, Microsoft 
reckons that 8%% of financial leaders feel overwhelmed by their organizations 
data. Read more 

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Alongside exploring AI tools to support data management, Microsoft is keen to 
push its new Dynamics 365 Finance business performance analytics feature 
thats designed to centralize data from more than one business workstream into 
an easy-to-use interface. 

As we look toward the future, Microsoft wants to take even more of the 
workload off finance teams, seeking to replace it with low-code solutions 
that has saved it 977 annual hours of manual labor and $25 million. 

Of course, you dont have to limit yourself to Microsofts offerings, and there 
are plenty of other options out there including the best accounting software 
for small businesses . Heres all the best hybrid working tech you need for 
your company



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Link to news story:
https://www.techradar.com/news/cfos-and-finance-teams-really-want-to-get-invol
ved-in-tech-innovation


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