Keith Mattioli, Principal, CIO Advisory at KPMG, and Mark Nittler, VP of Enterprise Strategy at Workday, discussed the impact of the financial organization during their presentation at the 2014 Chief Financial Officer Leadership Forum in New York on May 13. According to Mattioli, many financial organizations are transitioning from transactional to informational, and it is imperative for these organizations to focus on ways to effectively use the information they collect.
Mattioli noted people and technology play major roles in a financial organization. However, he said a company should find ways to connect both people and technology, as this could help it optimize its profits: “We can address the people side of it. We’ll retrain them to get them more efficient, but if we’re not giving them the right tools and the right processes to do that, they’re not going to be able to manage that.”
In addition, Nittler said the transformation that is currently taking place among financial organizations requires these organizations to examine multiple facets simultaneously. By doing so, Nittler said, chief financial officers can help their companies grow: “We now have the opportunity to kind of affect that and impact that within our organization and now’s the time to look at it. Now, may not be the time to throw out your current ERP, but now’s certainly the time to take a look at it, understand what that means strategically, understand how that pushes you forward; not just within finance, but from a business perspective.”