Ian Halifax, Chief Financial Officer of Host Analytics, shared his thoughts on the importance of improving enterprise performance during his presentation at the 2013 Chief Financial Officer Leadership Forum: Fall Event in New York on Nov. 13. In a Thought Leadership Spotlight Presented by Host Analytics, “Improving Enterprise Performance Using the Cloud,” Halifax explained that having the right system infrastructure and a common general and administrative expense platform across Host Analytics has had far-flung effects on his company.
According to Halifax, a chief financial officer must have a credible voice to improve his or her organization. Halifax acknowledged that enterprise performance management is beneficial for CFOs, as it allows them to effectively manage risk. In addition, EPM offers flexibility to CFOs, enabling them to control a variety of financial processes: “[EPM] buys you speed. You can drive accountability across the organization and it gives you much faster insights, much faster intelligence on demand into how any part of the organization is performing.”
Using the cloud also benefits CFOs, Halifax said, and allows them to streamline an organization’s operations. Halifax added that in the near future, more organizations could incorporate EPM and cloud-based tools into their operations. In fact, Halifax stated that new technologies can provide long-lasting support to CFOs, making these tools popular options for organizations of all sizes that want to differentiate themselves from the competition: “One of the key reasons I’m at Host is I see all enterprise applications over time going to the cloud. You can’t stop the wave. EPM and Host naturally are very much part of this wave.”