The perfect technology for the Modern CFO

In today’s digital world, CFOs need more accurate and timelier data for analysis, reporting, budgeting, and forecasting in order to become a partner to the broader business. One duty of  the modern CFO is to play a lead role in an organization’s transformation, driven by financial success.

To remain competitive, companies need to have the most up-to-date technology. With machine learning, artificial intelligence and automation now a reality, the modern CFO needs to understand technology as much as they do finance, ensuring that any technological investment offers a maximum ROI.

With all of this in mind, it is interesting to find that only 34% of financial tasks are automated and CFO’s anticipate that less than 50% of all financial tasks will be performed by machines by 2021.

According to European Ceo, 51% of CFOs are eager to embrace new digital skills that will be critical for keeping up and succeeding in the years to come. However, 38% are worried about employee resistance to working with artificial intelligence.

Capturing crucial data is a concern for the modern CFO. Of the finance leaders surveyed, less than half are capturing key potential benefits of data analysis, such as:

• Value creation
• Improved compliance
• Identification of future risks and opportunities
• Wider technology adoption throughout the business
• Increased connectivity with other areas of the enterprise

CFOs are looking to leverage data proactively so they can help decision makers craft a more insight-driven strategy.

To drive business growth and lead in the increasingly digital age, the key challenge for CFOs is understanding how to transform and redefine their function so they are properly equipped for the digital age.

So robots and flying cars aside, there are some current technologies which won’t scare off the workforce, but will allow CFOs and the entire C suite to make better business decisions. And the best part – it’s on a software you already know how to use.

Acumatica + Velixo 

Acumatica is a cloud ERP system which  includes functionality for financial management, customer management, project accounting, distribution, manufacturing, field service and multi-channel order management.

Benefits of Acumatica include:

• A centralized management system enabling the control of corporate data in a single system.
• Flexibility to choose where the software is deployed–internally or by Acumatica as a SaaS offering.
• Outside-the-office program access via any device supporting a modern web browser.
• Improved visibility to reporting data through intuitive dashboards and customizable screens.
• Extensibility to add custom capabilities through the Acumatica Framework for development of custom business applications.

One of the best parts of Acumatica, is that it has over 200 ISVs, so your company can create their own tailored solution ERP system.

One of the ISVs is our very own Velixo Reports. And the best part about Velixo – you already know how to use it.

Velixo is a unique Excel-based financial reporting tool built for Acumatica. It compliments your Acumatica program by allowing you to build financial and project reports in Excel with live data in less than 5 minutes.

Velixo Reports is the premier solution to eliminating tedious and time consuming reporting methods. It’s simplicity of installation and execution means your entire team can benefit from Velixo.

Velixo was designed with the Excel user in mind so if you know how to use Excel, you already know how to use Velixo Reports.

The solutions allows users to start building spreadsheets that instantly include Acumatica GL/PM data. The data is loaded & refreshed in a matter of seconds thanks to Smart Refresh. So No more exports or manual entries required – you’re always working with the most up-to-date data.

Velixo allows the changes you make to formulas and cells to be reflected immediately in the spreadsheet, with powerful formatting and data visualization capabilities including tabs, conditional formatting, charts and data grouping.

Velixo will help you consolidate data from multiple tenants and companies, combine GL, PM and data from other sources and spreadsheets into a single report and easily drilldown to the original document in Acumatica.

What are you waiting for? Contact us today to find out how Velixo can help your business.