{"id":9248,"date":"2022-04-05T12:22:42","date_gmt":"2022-04-05T10:22:42","guid":{"rendered":"https:\/\/www.sqorus.com\/finance-management-what-technological-tools-can-cfos-use\/"},"modified":"2024-08-28T18:09:52","modified_gmt":"2024-08-28T16:09:52","slug":"finance-management-what-technological-tools-can-cfos-use","status":"publish","type":"post","link":"https:\/\/www.sqorus.com\/en\/finance-management-what-technological-tools-can-cfos-use\/","title":{"rendered":"Finance management: what technological tools can CFOs use?"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;0px|0px|0px|0px&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_row _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;0px||0px|||&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_text _builder_version=&#8221;4.27.0&#8243; header_3_font_size=&#8221;18px&#8221; custom_padding=&#8221;||5%||false|false&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221; sticky_enabled=&#8221;0&#8243;]<\/p>\n<p>The new technologies of digitalization of the company and their innovative solutions have upset the habits and replaced the traditional management tools. Administrative and financial directors (CFOs) are obviously concerned. Now, they need to collaborate with all departments to ensure they have all the data they need to make strategic decisions. So what are<span> <\/span><strong>technological tools for CFOs<\/strong><span> <\/span>? You can count the<span> <\/span><a href=\"https:\/\/www.sqorus.com\/logiciel-erp-definition\/\">ERP software<\/a>, but it&#8217;s not the only one.<\/p>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.23.1&#8243; header_3_font_size=&#8221;18px&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;]<\/p>\n<p>&nbsp;<\/p>\n<h2>Business intelligence<\/h2>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.23.1&#8243; header_3_font_size=&#8221;18px&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221; custom_padding=&#8221;||5%||false|false&#8221;]<\/p>\n<p>Although the use of <a href=\"https:\/\/www.lebigdata.fr\/business-intelligence-definition\" target=\"_blank\" rel=\"noopener\">business intelligence<\/a> (and more specifically the implementation of reliable and relevant indicators) has always been part of the responsibilities of a financial director and his teams, it has been largely modernized in recent years. The goal now is to automate dashboard production.<\/p>\n<p>This will allow the publication of information in real time, reducing (and even cancelling) the production phase of the indicators. This will make it easier to refine the company&#8217;s strategy, while reducing the risk of human error. This solution also has the advantage of freeing up the time of the finance staff.<\/p>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.23.1&#8243; header_3_font_size=&#8221;18px&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;]<\/p>\n<h2>Big data and artificial intelligence<\/h2>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.16&#8243; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221; header_3_font_size=&#8221;18px&#8221; custom_padding=&#8221;||5%||false|false&#8221;]<\/p>\n<p> <strong>Big data<\/strong> and<strong>artificial<\/strong> intelligence, when combined, will allow CFOs to obtain a predictive analysis of the company&#8217;s financial data. It will thus become possible to study all the possible accounting and operational actions, but also to improve the follow-up of the treasury, crucial element for the good management of a company. This will improve decision-making, not to mention save time.<\/p>\n<p>This mode of operation necessarily implies a stronger collaboration with the IT departments. This relationship will then facilitate the extraction of the most relevant data from the immense quantity that Big Data can manage. This is a much more efficient way to work without having to deal with multiple Excel tables!<\/p>\n<ul><\/ul>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.23.1&#8243; header_3_font_size=&#8221;18px&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;]<\/p>\n<h2>Collaborative work tools and blockchain<\/h2>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.16&#8243; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221; header_3_font_size=&#8221;18px&#8221; custom_padding=&#8221;||5%||false|false&#8221;]<\/p>\n<p>The finance function can also benefit from the contributions of collaborative work methods. This will allow the company to set up a <strong>cloud platform<\/strong> that is also accessible outside the company. From the CFO&#8217;s point of view, this tool makes it possible to simultaneously monitor (e.g. expense management), analyze, forecast and plan via a virtual assistant.<\/p>\n<p>While the technology is not yet well established in the enterprise, many CFOs are keeping a close eye on the rise of <strong>blockchains<\/strong>. They could be used not only to generate &#8220;bitcoins&#8221;, but also for bank reconciliation operations and for updating registers. It is also possible to manage transactions specific to the movement of funds, goods, assets and even various secure data.<\/p>\n<p>To develop this activity, many companies are currently looking to recruit specialists with these skills, to bolster their teams.<\/p>\n<p><strong>For more information, please contact our consultants who can assist you in evaluating the costs and opportunities related to your situation.  <\/strong><\/p>\n<p><strong>We will engage in understanding your strategy and assist you in defining an alignment plan prior to your technology decisions.<\/strong><\/p>\n<ul><\/ul>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row custom_padding_last_edited=&#8221;on|desktop&#8221; _builder_version=&#8221;4.27.0&#8243; background_color=&#8221;#2029a0&#8243; background_image=&#8221;https:\/\/www.sqorus.com\/wp-content\/uploads\/2023\/12\/Bandeau-LB-Transfo-Finance.png&#8221; background_size=&#8221;contain&#8221; background_position=&#8221;center_right&#8221; width=&#8221;100%&#8221; width_tablet=&#8221;90%&#8221; width_phone=&#8221;90%&#8221; width_last_edited=&#8221;on|phone&#8221; custom_margin=&#8221;||3%||false|true&#8221; custom_padding=&#8221;50px|400px|50px|55px|true|false&#8221; custom_padding_tablet=&#8221;50px|55px|50px|55px|true|true&#8221; custom_padding_phone=&#8221;40px|55px|40px|55px|true|true&#8221; background_last_edited=&#8221;on|phone&#8221; background_enable_image_tablet=&#8221;off&#8221; border_radii=&#8221;on|23px|23px|23px|23px&#8221; global_module=&#8221;25049&#8243; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_text module_class=&#8221;Titre_40 Titre_blanc&#8221; _builder_version=&#8221;4.24.3&#8243; _module_preset=&#8221;default&#8221; header_2_font_size=&#8221;30px&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;]<\/p>\n<h2>Digital transformation of the Finance function&nbsp;: how far have you got?<\/h2>\n<p>[\/et_pb_text][et_pb_text module_class=&#8221;FondBleu&#8221; _builder_version=&#8221;4.23.1&#8243; _module_preset=&#8221;default&#8221; text_font=&#8221;||||||||&#8221; text_text_color=&#8221;#d6d8f4&#8243; text_line_height=&#8221;30px&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;]<\/p>\n<p>Boost your digital transformation and gain in efficiency and agility with our comprehensive guide to strategic steering tools for the Finance function.<\/p>\n<p>[\/et_pb_text][et_pb_button button_url=&#8221;https:\/\/www.sqorus.com\/en\/ebook-digital-transformation-of-the-finance-function\/&#8221; button_text=&#8221;Download&#8221; button_alignment=&#8221;left&#8221; button_alignment_tablet=&#8221;center&#8221; button_alignment_phone=&#8221;center&#8221; button_alignment_last_edited=&#8221;on|tablet&#8221; admin_label=&#8221;Bouton de t\u00e9l\u00e9chargement&#8221; module_class=&#8221;Bouton Fond_blanc&#8221; _builder_version=&#8221;4.27.0&#8243; _module_preset=&#8221;default&#8221; custom_button=&#8221;on&#8221; button_text_size=&#8221;15px&#8221; button_text_color=&#8221;#f36145&#8243; button_bg_color=&#8221;#FFFFFF&#8221; button_border_width=&#8221;1px&#8221; button_border_color=&#8221;#f36145&#8243; button_border_radius=&#8221;50px&#8221; button_font=&#8221;||||||||&#8221; button_use_icon=&#8221;off&#8221; custom_margin=&#8221;20px||||false|false&#8221; custom_padding=&#8221;13px|25px|13px|25px|false|false&#8221; custom_css_free_form=&#8221;selector:hover{||  background-color: #FFF6F5 !important;||}&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][\/et_pb_button][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; admin_label=&#8221;section&#8221; _builder_version=&#8221;4.16&#8243; _module_preset=&#8221;default&#8221; global_module=&#8221;13401&#8243; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_row admin_label=&#8221;row&#8221; _builder_version=&#8221;4.16&#8243; background_size=&#8221;initial&#8221; background_position=&#8221;top_left&#8221; background_repeat=&#8221;repeat&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_text _builder_version=&#8221;4.27.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;]<\/p>\n<h3>Also read about the digital transformation of finance functions<\/p>\n<\/h3>\n<ul>\n<li><a href=\"https:\/\/www.sqorus.com\/en\/obligation-of-electronic-invoicing-and-e-reporting\/\">The obligation of electronic invoicing and e-reporting<\/a><\/li>\n<li><a href=\"https:\/\/www.sqorus.com\/en\/electronic-invoicing-reform-what-you-need-to-know\/\">Electronic invoicing reform: what you need to know<\/a><\/li>\n<li><a href=\"https:\/\/www.sqorus.com\/en\/what-is-the-role-of-the-finance-department-today\/\">What is the role of the finance department today?<\/a><\/li>\n<li><a href=\"https:\/\/www.sqorus.com\/en\/5-obstacles-to-the-digital-transformation-of-finance-functions\/\">5 obstacles to the digital transformation of finance functions<\/a><\/li>\n<li><a href=\"https:\/\/www.sqorus.com\/en\/improve-financial-processes-with-automation-and-rpa\/\">Improve financial processes with automation and RPA<\/a><\/li>\n<li><a href=\"https:\/\/www.sqorus.com\/en\/what-changes-does-dematerialisation-bring-to-the-finance-function\/\">What changes does dematerialisation bring to the finance function?<\/a><\/li>\n<li><a href=\"https:\/\/www.sqorus.com\/en\/the-finance-function-an-actor-of-change-in-the-digital-transformation-of-the-company\/\">The finance function, an actor of change in the digital transformation of the company<\/a><\/li>\n<li><a href=\"https:\/\/www.sqorus.com\/analyses-predictives-degager-valeur-ajoutee-detecter-opportunites-croissance\/\">Predictive analytics to unlock value and detect growth opportunities<\/a><\/li>\n<li><a href=\"https:\/\/www.sqorus.com\/gerer-talents-transformation-digitale-de-la-fonction-finance\/\">Better managing talent to overcome the obstacles to digital transformation in the finance function<\/a><\/li>\n<li><a href=\"https:\/\/www.sqorus.com\/en\/provide-users-with-real-time-data-with-data-visualization\/\">Provide users with real-time data with data visualization<\/a><\/li>\n<li><a href=\"https:\/\/www.sqorus.com\/en\/advanced-financial-analysis-to-improve-decision-support\/\">Advanced financial analysis to improve decision support<\/a><\/li>\n<li><a href=\"https:\/\/www.sqorus.com\/en\/identify-the-business-processes-in-the-finance-function-that-would-benefit-most-from-digitization\/\">Identify the business processes in the finance function that would benefit most from digitization<\/a><\/li>\n<li><a href=\"https:\/\/www.sqorus.com\/en\/security-at-the-heart-of-the-companys-financial-transformation\/\">Security at the heart of the company&#8217;s financial transformation<\/a><\/li>\n<li><a href=\"https:\/\/www.sqorus.com\/dun-si-finance-vers-un-systeme-de-donnees-finance\/\">From a Finance IS to a Finance Data System<\/a><\/li>\n<li><a href=\"https:\/\/www.sqorus.com\/grands-defis-responsables-financiers\/\">What are the key challenges facing finance managers today?<\/a><\/li>\n<li><a href=\"https:\/\/www.sqorus.com\/enjeux-reglementaires-daf-2019\/\">What are the key regulatory issues for CFOs in 2023?<\/a><\/li>\n<li><a href=\"https:\/\/www.sqorus.com\/en\/digitalisation-of-the-finance-function-what-can-we-expect-in-the-future\/\">Digitization of the finance function: what should we expect in the future?<\/a><\/li>\n<li><a href=\"https:\/\/www.sqorus.com\/en\/finance-management-what-technological-tools-can-cfos-use\/\">Finance management: what technological tools are available to CFOs?<\/a><\/li>\n<\/ul>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; admin_label=&#8221;Section &#8211; Contactez nous&#8221; module_class=&#8221;Fond_bleu Fond_icone&#8221; _builder_version=&#8221;4.26.1&#8243; custom_margin=&#8221;2rem||5rem||false|true&#8221; custom_margin_tablet=&#8221;4rem|40px|4rem|40px|true|true&#8221; custom_margin_phone=&#8221;|20px||20px|false|true&#8221; custom_margin_last_edited=&#8221;on|phone&#8221; custom_padding=&#8221;3rem||3rem||true|false&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_row make_equal=&#8221;on&#8221; admin_label=&#8221;Text block&#8221; module_class=&#8221;LargeurBox&#8221; _builder_version=&#8221;4.25.0&#8243; _module_preset=&#8221;default&#8221; animation_style=&#8221;fade&#8221; locked=&#8221;off&#8221; collapsed=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.25.0&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;|9rem||9rem|false|true&#8221; custom_padding_tablet=&#8221;|0rem||0rem|false|true&#8221; custom_padding_phone=&#8221;|0rem||0rem|false|true&#8221; custom_padding_last_edited=&#8221;on|desktop&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_text admin_label=&#8221;Sous-titre&#8221; module_class=&#8221;SousTitre&#8221; _builder_version=&#8221;4.25.0&#8243; _module_preset=&#8221;default&#8221; text_font=&#8221;||||||||&#8221; text_orientation=&#8221;center&#8221; custom_margin=&#8221;||10px||false|false&#8221; text_orientation_tablet=&#8221;&#8221; text_orientation_phone=&#8221;center&#8221; text_orientation_last_edited=&#8221;on|tablet&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;]<\/p>\n<p>Contact<\/p>\n<p>[\/et_pb_text][et_pb_text admin_label=&#8221;Titre &#8211; H2&#8243; module_class=&#8221;Titre_40&#8243; _builder_version=&#8221;4.25.0&#8243; _module_preset=&#8221;default&#8221; text_orientation=&#8221;center&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;]<\/p>\n<h2>A project? A request?A question?<\/h2>\n<p>[\/et_pb_text][et_pb_text admin_label=&#8221;Texte&#8221; _builder_version=&#8221;4.25.1&#8243; _module_preset=&#8221;default&#8221; text_text_color=&#8221;#d2d4ec&#8221; text_font_size=&#8221;21px&#8221; text_line_height=&#8221;35px&#8221; text_orientation=&#8221;center&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;]<\/p>\n<p>Contact us today and find out how we can work together to make your company&#8217;s digital future a reality.<\/p>\n<p>[\/et_pb_text][et_pb_button button_url=&#8221;https:\/\/www.sqorus.com\/en\/contact\/&#8221; button_text=&#8221;Contact SQORUS&#8221; button_alignment=&#8221;center&#8221; module_class=&#8221;Bouton fond_orange&#8221; _builder_version=&#8221;4.25.2&#8243; _module_preset=&#8221;default&#8221; custom_margin=&#8221;30px||||false|false&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][\/et_pb_button][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Digitization technologies have transformed the way companies are run, and administrative and financial managers need to work together&#8230;<\/p>\n","protected":false},"author":54,"featured_media":6452,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","content-type":"","_ayudawp_aiss_exclude":false,"footnotes":""},"categories":[359,390],"tags":[],"metiers":[224],"sujet":[217],"class_list":["post-9248","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-conseil-transformation-finance","category-finance-transformation","metiers-finance-en","sujet-advisory-en"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Finance management: what technological tools can CFOs use? 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