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So far xerxeswebmaster@xerxes.global has created 84 blog entries.

Why Speed Matters in Decision Making

Although CFOs have been gradually taking on more strategic roles at their organizations, they must now take the lead in transforming the decision-making process across the entire business. And that calls for speed in the finance department. CFOs must gather insight more quickly to keep ahead of customer expectations that are constantly changing. They also need speed to stay ahead of industry disintermediation and to stay ahead of the velocity of data that are [...]

How Agile Operations Enable Real-Time Decision Making

To be successful, organizations must be able to provide faster, more predictive analytics and be able to pivot "on the fly." This means that highly complex business environments need better financial planning and analysis (FP&A) solutions rather than static, traditional planning and budgeting tools. Old school tactics and tools (think Excel spreadsheets) rely on manual inputs across multiple departments. The result is that finance team members waste too much time entering data, correcting errors, [...]

Top Two Failure Points for CFOs at PE-Owned Companies

The turnover rate of CFOs in private equity-owned organizations is high – more than 80%. Contributing to this high rate of turnover is the fact that CFOs who have been onboarded during private equity (PE) ownership are also frequently replaced. It's not easy for CFOs to adjust to new institutional ownership, mainly because being a CFO at a PE-owned firm is not the same as being a CFO at other enterprises. CFOs at PE-owned [...]

Three Things Private Equity Firms Want the CFO To Know

Many chief financial officers (CFOs) view the opportunity to lead the finance departments of private equity-owned companies as a big win. It looks excellent on a resume and tends to come with a nice salary bump. But CFOs of PE-owned companies face a tall order. They are tasked with transforming performance, implementing new processes, and driving growth. And most of the time, they have to do this with a smaller finance team. To help [...]

Why a Strategic CFO’s Favorite Word Should Be ‘Yes’

In 2022, the roles of the CFO and finance teams extend beyond transactional/back-office responsibilities. Together they must act as trusted, strategic advisors to leadership to help drive the business forward. Today, the skills CFOs need to be successful far exceed just the financial basics. To become more strategic, CFOs need three key skills: reporting, business analytics, and leadership. Reporting skills As CFOs can likely attest, it's not an easy proposition to collect and consolidate operational [...]

When a CFO’s ‘No’ Becomes an 8-Figure Mistake

CFOs often say their biggest fear is saying "yes" to the wrong thing. They're concerned that making a big change or integrating a system that ends up causing more harm than good will cost their companies millions of dollars. But CFOs rarely consider the ramifications of saying "no." What if they say "no" to the right thing? What is the cost of missing out on an opportunity? Here are some examples of the cost [...]

Why Quitting Excel Is a Life Hack for Today’s CFO

Excel and really any spreadsheet programs certainly have their place in helping CFOs organize data and perform basic operations. However, many CFOs often rely on Excel for tasks that it's not really equipped to handle. And that could lead to any number of issues when they manage the complex process of the financial close and reporting. CFOs and their financial planning and analysis (FP&A) teams who depend on Excel are spending most of their time [...]

7 Reasons Excel Could Get You Fired

Most CFOs would agree that purpose-driven financial planning requires solutions that enable transparency, custom reporting, and visibility into business value insights. Yet a study by Incisive Software found that nearly one-third of respondents said their organizations use over 10,000 spreadsheets on a regular basis. The problem? Excel spreadsheets don’t enable any of those things. In fact, there are seven big reasons why Excel could get you fired — or worse yet, sink your business: 1. [...]

How to Make Your Month End Close Process Easy and Fast

If every finance and accounting team has one thing in common, it’s probably that we all dread our month end close process. Of all the regular tasks finance teams perform, month end accounting is one of the most tedious, time-consuming… and essential. In fact, month end is so essential that it tends to take precedence over everything else… including analysis tasks that could actually help improve the company. But what if your month end reporting [...]

Data Visualization Examples: Making the Most of Your Data’s Story

Anyone with experience presenting data-driven business reporting to decision makers will tell you: presenting the data itself is never enough. Even if your data tells a great story, it won’t make a difference if people can’t see that story. That’s where data visualization comes in. To understand how data visualization makes persuasive data presentations possible, we sat down with Will Flor, EBM Software’s Senior Manager of Customer Success and Analytics. Will walked us through his [...]

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