As noted in the “Cloud Accounting Blog,” the role of the CFO and the accounting department in an organization are changing and for the better!
Long gone are the days where finance professionals were type-casted as number crunchers! The “Cloud Accounting Blog” surveyed 500+ CFOs and found that the reoccurring theme of their advice was that finance is no longer just a numbers game, its a value-added game. This higher expectation coupled with additional job tasks defined with a vague term like value-added lends its hand to an important question: what is value added for a finance professional?
The CFO/the accounting professional is a key playmaker for their corporation. Value is trumping financial gatekeeping and creating a greater need for collaboration. “Value-added” is what the finance professional is providing through collaboration that often occurs amongst not just accountants but with other members of the company. This necessitates the use of tools that allow for finance departments to not only communicate more widely amongst themselves, but also, with those outside of the department for increased transparency. Reports need to be available readily and they need to be easy to digest.
Accounting professionals have found through the use of a SaaS based revenue recognition software, everyone has access to the best numbers reflecting company value. Ease of use should be a priority with that software because not everyone you communicate with is as financially literate as an accountant. Putting yourself in the position to be a key contributor to your company’s goals is the type of positioning that will spur your career. This is done through investing in yourself as much as your company with the tools that allow you to continue making the best use of your time and skills while meeting these new demands in the brave new world of value-added accounting.
Accounting is not the lone wolf department anymore. Accounting departments today possesses key team players contributing to how a corporation operates and makes decisions. The responsibilities added by this shift could potentially overwhelm a department that has not made the small investments in tools such as SaaS that automates revenue recognition all while providing automatic, elegant reports that make this type of collaboration a breeze!
“Cloud Accounting” Blog Post (http://cloudaccountingblog.com/2016/04/12/7-surprising-insights-highlights-from-recent-survey-of-500-cfos/)