Finance teams that continue to use Excel as their primary tool risk making mistakes while missing out on the benefits of newer solutions that allow for rapid reporting and collaboration. As reported earlier this year in The Wall Street Journal’s CFO Journal, CFOs recognize that their teams' over-reliance on this trusted tool does not provide them with the timely information needed to make decisions. CFOs who want to transform the way their teams operate rapidly have many options through the use of AI-enabled business intelligence (BI) and automation to lead to real-time reporting of KPIs, which will allow them to make the critical decisions needed to drive customer-facing functions more effectively. Automating clerical functions creates efficiencies, improves accuracy, and will enable teams to spend their time working smarter. Given the constant stream of disruptive forces business leaders face daily, it is critical that they put their companies on the road to Future Ready through a rapid back-office transformation.
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It’s time to leave Excel behind and become Future-Ready
While many still see it as a helpful tool, some CFOs say finance teams rely on it too much, often for tasks that Excel isn’t well-suited to handle… leading to mistakes and wasted time. -WSJ CFO Journal
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