The pandemic highlighted shortcomings in existing finance processes. Many systems aren’t able to provide up-to-the-minute, high-quality management information. Old school ‘finger in the air’ assumptions don’t work.
The ever-evolving world of fast economic and environmental change requires instantly available information. Finance teams need to be able to pivot and adapt quickly and communicate revised information succinctly and swiftly to decision-makers.
Cash management was also tested and continues to be put under pressure. The changes forced on us have largely turned out to be good and will shape how businesses are staffed, run, and financed in the future. Smart decisions are being led by accurate data-driven intelligence.