A CFO empowered with data is able to put positive pressure on all areas of the business, in a much more proactive way than has been possible until now, writes Nathan McMurtrey, a principal in Eide Bailly’s technology division. A CFO, he adds, is no longer allowed to just look back and provide explanations for things that have already happened; now he or she is expected to help a company know what will happen. Mr McMurtrey offers three initial steps for a CFO looking to become part of this data revolution: firstly, by identifying the metrics that lead to happy customers, then determining how best to measure them, and then working out how the company can be held accountable to them. “Once a CFO has created that one source of truth, it’s his or her job to secure broader investment from the company and use it to create technical systems,” he concludes.
Three steps to make CFOs champions of the data revolution
