Spreadsheets may be the financial team's trusty old friend, but just because they're cheap doesn't mean that they're the best option for managing treasury. From both an efficiency standpoint and also the level of risk that spreadsheets bring into an organization, it may be time to reduce your dependency on them and adopt a dedicated treasury management system.
CFO Perspective: Get Early Warnings on Execution by Monitoring Your Cash Footprint
When I began writing this article, I flashed back to being in a meeting with Larry Bossidy, then vice chairman and executive officer of General Electric, along with other members of his finance team. The lively exchange about strategy and execution left a deep and lasting impression on me, the most junior person in the room, which is why I still talk about it more than 25 years later.
Fact. Your CFO is losing sleep at night because he or she is worried about your organization’s financial reporting processes. According to the Future of Financial Reporting 2017 survey, conducted by the FSN Modern Finance Forum on LinkedIn, 97 percent of CFOs are being kept awake by a host of reporting-related concerns, from inadequate controls, to the prospect of having to face “unanswerable questions” in the boardroom and finding that serious errors have cropped up on critical spreadsheets.