Company insight Working through numbers
Digitisation, data and Covid are shaping today’s business world – each demanding financial investment and the CFO’s time. Technology provider Workday says the role of finance is changing fast, but so too are the skills of those at the helm of finance departments.
The adoption and acceleration of digital technologies is increasingly crucial for business future-proofing.
bout a century or so ago, fictional British detective, Sherlock Holmes said: “It is a capital mistake to theorise before one has data.” The word “data” has its origins in Latin but has likely never been as popular as it is today. It is the source of multimillion, even billion, dollar decisions; it drives operations; it is even a commodity of its own. And for the past few years it has been at the very heart of governmental decision-making as the world grapples with the Covid pandemic. For CFOs, data is fast becoming the pre-eminent tool of choice. But it is not just the finance department of today’s businesses where data is having an impact, it is a valuable resource in human resources (HR), operations, marketing and many more disciplines. “An organisation’s insights are only as good as its data, and the ability to make data-based decisions is only as good as the quality, completeness
A Finance Director Europe /
www.ns-businesshub.com
and accessibility of that data,” says Workday, a leading provider of enterprise cloud applications for finance and HR. Founded in 2005, the US-based solutions provider has a presence globally, servicing clients ranging from medium-size businesses to some of the world’s leading enterprises, educational institutions and government
core that’s always live and always secure”. To do this it believes that trust and transparency is key.
Future proofing Workday has a vision that is fast becoming one shared by CFOs and the organisations they work for: the adoption and
“An organisation’s insights are only as good as its data, and the ability to make data-based decisions is only as good as the quality, completeness and accessibility of that data.”
agencies. Among the company’s objectives, it wants to allow its customers to break free of the dated silo model of data generation and utilisation to one that “brings financial, people and operational data into one unified
acceleration of digital technologies to future-proof the business for tomorrow, and be the best it can today. In a recent survey, Workday says half (49%) of over 260 CFOs said their ability to execute
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