How Finance Leaders Improve Performance by Improving Visibility
Writing in Harper’s Weekly several years before he was nominated to the Supreme Court, Louis Brandeis observed that “Sunlight is said to be the best of disinfectants.” In addition to enabling the general public to make informed investment decisions, Brandeis’s exhortation that companies disclose financial information established a standard of transparency that applies within the companies themselves.
Yet all too often, finance teams maintain financial data within individual spreadsheets on individual devices. Many finance teams rely on manual processes to gather the data and generate financial statements from it. If a company is unable to trace the sources of the data or trace the steps that led the finance team to include the data within financial statements, then the more likely it is that the statements will be susceptible to errors or even fraud. When companies make decisions based on inaccurate data, or face penalties for inaccurate financial reporting, they place their health and survival at risk.
At a time when finance teams are physically dispersed because of the pandemic, the need for company-wide visibility into financial information has never been greater. By attending this webinar, you will learn:
- How finance leaders create a culture of transparency, starting with the finance teams they oversee,
- What organizational and technological obstacles are most likely to undermine finance leaders’ efforts to sustain transparency, and
- How finance leaders can apply advances in automation and cloud computing to achieve visibility into their companies’ current financial performance, and, as a result, identify opportunities to improve it.