Since most new technologies enable greater communication and connectivity across businesses and branches, leaders can gain more comprehensive company oversight.
Finance leaders globally are recognising the importance of breaking financial functions out of silos to operate more collaboratively across businesses. A study from Oxford Economics showed that CFOs who work closely with other lines of business, such as marketing, sales, R&D, and customer service achieve greater revenue growth and better alignment with their business goals.
Recent research from SAP and Oxford Economics demonstrated CFOs’ strategic initiatives are taking a more active role in the direction of their businesses, rather than operating within a siloed financial function. The report showed that 88% respondents said CFO’s are increasingly involved in the strategic decisions of their organisations.
At SAP, our purpose is simple, help businesses run at their best so the world can run better and how I lead our finance operations in Australia and New Zealand is no different.