Chief financial officers are prioritizing cloud-based investments, according to a new survey released by cloud ERP software provider Intacct.
Intacct CFO Perspectives Survey respondents—114 CFOs or VPs of finance at mid-size organizations across industry segments—listed business reporting and analytics as the most important initiatives to support their business, with 80 percent reporting them as priority.
Respondents also listed data analytics (61 percent) and systems integration (71 percent) as their top technological investments over the next 18 months.
More than half of the CFOs and VPs of finance (57 percent) said they manage between three to five business systems, while 11 percent manage only their financial system.
"Greater visibility and insight into financials has always been a top CFO priority,” stated Intacct CEO Robert Reid. “This survey shows we have entered a new era in the office of the CFO as they invest and deploy new systems to gain previously hard or impossible to find insights. The advances offered through the seamless integration of multiple data sources and analytics will transform not just the office of the CFO in terms of productivity and time to insight, but also their role and ability to be truly strategic advisors."
Conducted at the company’s annual customer conference Intacct Advantage in November, the Intacct CFO Perspectives Survey collected the responses of finance executives from industry segments including software/SaaS, professional services, healthcare, hospitality and nonprofits.