BANCU24SS03. The CFO Finance Hub: Why CFOs are Rethinking their Systems and Processes, presented by SS&C Technologies

A January 2024 article in the Journal of accountancy noted that almost 40% of CFOs worldwide do not completely trust the accuracy of their organization's financial data. And on top of that, and even where CFOs do trust the data, many CFOs don’t have access to a complete picture of what the data is telling them in a timely manner due to disparate data sources. This in turn leads to CFO staff spending much of their time compiling data and summarizing it, rather than analyzing the data to help drive the institution. And specifically for financial institutions, this issue is exasperated further as the data is unique and domain aware software Is crucial but hard to find. In this session, we explore the challenges that CFOs face, the source of these issues and how they can be countered, exploring best practices from a process standpoint and the right technology specifications to support these initiatives.

Learning Objectives:

• Analyze the key challenges that CFOs face as it relates to data and the impact on analysis and decision making
• Identify goals for a future state CFO Finance Hub
• Determine best practices for CFO process and system design to align with the goals set