6Dec 2019 - Jan 2020Copyright © 2019 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.Managing EditorSarah DawsonEditorial StaffAaron Pierce Ava Garcia Ashik JainJoshua ParkerVisualizerAsher BlakeSales*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staffEditor's NoteSarah DawsonManaging Editoreditor@cfotechoutlook.comUnleashing the Next Generation of Budgeting and Forecasting Andrew Smith andrew@cfotechoutlook.com Financial stability, sustainability, and growth of a company are deciphered through valuable but complicated processes of budgeting and forecasting. While enumerating the factors that determine the productivity and the financial performance of a business, CFOs and finance managers often address limitations brought about by inaccuracies and lags. The evolution of technologies presents some promising developments in the domain of finance management and forecasting. Conventional processes are on their way out, while advanced applications make their way into the CFO's toolkit. One of the chief differentiators in budgeting and forecasting is data. Financial data contains a goldmine of information. In the long and the short run, the ability to decode this data can empower budget managers and finance handlers to no end. Specific criteria that businesses consider valuable while conducting budgeting and forecasting are agility and intelligence. The capability to access, process, and see through financial data with agility is very valuable from a CFO's perspective. The dynamism with which businesses operate today makes delayed data processing ineffective and results in compromised budgeting and forecasting. A consistent approach towards the modernization of budgeting and forecasting processes and solutions can help enterprises build future-oriented capabilities. To understand what the ideal upgrade should look like, CFOs should consider the myriad of digital tools and solutions available in the market today. Incorporated with the best mix of technologies, many of the digital solutions are cutting-edge and extremely potent. Discovering the financial standing and allocating budgets can become optimized like never before. Most of the solutions offer simplified interfaces that allow budget managers to see through complex sets of data and generate credible inferences. These insights act as sources of information and help businesses streamline finances while boosting intelligence-driven financial decision-making. The aspects of spotting risks, defining margins, and having a realistic view of financial potential get much better when budgeting and forecasting evolve with digital solutions.Data analytics, artificial intelligence, cloud computing, machine learning, and many other evolving technologies are significant determinants in the way budgeting and forecasting solutions are advancing. For forward-thinking CFO's, these advanced digital solutions can prove to be the vital shot in the arm that will change the efficiency and vitality of the budgeting and forecasting process. This edition of CFO Tech Outlook looks to help companies discover the best budgeting and forecasting solution providers.Let us know your thoughts. Contact Us:Phone:510-565-7614Fax:510-894-8405Email:sales@cfotechoutlook.comeditor@cfotechoutlook.commarketing@cfotechoutlook.com Dec 2019 - Jan 2020, Vol 04-19 Published by ValleyMedia, Inc. To subscribe to CFO Tech OutlookVisit www.cfotechoutlook.com
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