Let’s be honest. While ERP and Excel are useful tools for managing financial data, they’re unlikely to provide the level of detail, insights, and flexibility required to make the best possible business decisions. If you don’t have an alternative – e.g., a genuine FP&A platform or tools - you are reliant on gut, guesswork, and a limited amount of data when you need accuracy, certainty of direction, and confidence.
In these ‘interesting’ times, CFOs are under increased pressure to lead their companies through the best and worst times. Recession, pandemics, invasions, supply chain and resourcing woes, and more have all contributed to this challenging era.
The reality is that navigating through new waters with old tools will never cut it. And here are three reasons why.