Finance Market Research

18/05/2023

Finance professionals cloning themselves?

AI and automation changing the way we work?

A petition against manual and boring finance work with over 300 signatures?

No, it's not a new Sci-fi movie, it’s a campaign from 10 financial software companies that was created to raise awareness of the harmful effects of too much manual work in the finance department.

Read all about it in our latest blog post 👇

https://www.financemarketresearch.com/post/clone-yourself-or-automate-the-new-finance-movement-that-is-gaining-momentum

Finance professionals cloning themselves? AI and automation changing the way we work? A petition against manual and boring finance work with over 300 signatures? No, it's not a new Sci-fi movie, it’s a campaign from 10 financial software companies that was created to raise awareness of the harmful...

03/05/2023

Gartner’s FP&A Leadership Vision Report for 2023 focuses on FP&A leaders guiding their companies through turbulent economic times and challenges.



The roadmap mainly focused on the 5 priorities for FP&A leaders in 2023 based on the risks and challenges.



1. Redefine the strategy for planning, budgeting, and forecasting.



2. Reevaluate FP&A’s scope and org design to maximize business impact.



3. Evolve finance business partnerships for a digital future.



4. Develop a financial data and analytics strategy.



5. Accelerate AI implementation in finance.



Learn more about the roadmap, priorities, and plans of action 👇

https://www.financemarketresearch.com/post/the-5-priorities-for-fp-a-leaders-in-2023

Gartner’s FP&A Leadership Vision Report for 2023 focuses on FP&A leaders guiding their companies through the turbulent economic times and challenges. Gartner identifies the main risks and challenges in 2023 as: Climate & ESG - (Extreme weather, Climate activism, infrastructure failures, etc.) Econ...

26/03/2023

Hey, have you heard about these things called AI chatbots? 🤖Apparently, it’s all the rage nowadays.

The race for chatbot supremacy is intensifying ever since the emergence of OpenAI's ChatGPT, with large tech companies like Google, Meta, and Microsoft also investing heavily in the development of their own advanced chatbot systems 🏃‍♀️🏃‍♂️

In addition, many other companies like Morgan Stanley, PwC, Duolingo, and Stripe have realized the potential benefits of integrating AI chatbots into their businesses and products.

And chatbots are coming into the finance function, too. 📊📈

Glenn Hopper, who is the author of Deep Finance: Corporate Finance in the Information Age and also serves as the director at Eventus Advisory Group, suggests some of the potential benefits of AI chatbots for the finance department.

Check out our latest blog to learn about his suggestions 👇

Hey, have you heard about these things called AI chatbots? Apparently, it’s all the rage nowadays. The race for chatbot supremacy is intensifying ever since the emergence of Open AI’s ChatGPT, with large tech companies like Google, Meta, and Microsoft also investing heavily in the development of...

16/03/2023

Despite beginning the year with a remarkable valuation of $1.7 trillion 😲, a substantial rise from its $172 billion valuation just six years prior, Amazon's value declined to around $834 billion. ↘

Although this decline led to Amazon falling out of the trillion-dollar club, there is a lot to be learned from the company's practices, particularly in the area of budgeting. 💲💰

Its unconventional ways of conducting the process create business efficiency, and perhaps open-mindedness is one of the factors that contributed to creating Amazon Prime. 📦

Here are 5 of Amazon’s budgeting strategies that are worth getting familiar with.

The year 2022 proved to be a difficult one for mega-cap tech stocks, including Amazon, which was hit particularly hard. Despite beginning the year with a remarkable valuation of $1.7 trillion, a substantial rise from its $172 billion valuation just six years prior, the company's value declined to ar...

02/03/2023

The accounting and finance shortage seems to be getting worse and worse, and the challenges of finding and keeping CFOs aren’t getting any easier.

The mounting pressure from the economic challenges of the past few years means that CFOs are facing more scrutiny and leadership challenges than ever before.

Businesses will have to find a way to attract finance leaders, and even more important, get them to stay.

Out of all the positions in the C-Suite, CFOs have the highest turnover rate, according to research from FP&A software Datarails.

Check out our latest article to learn more about why there is such a high turnover rate for CFOs 👇

Out of all the positions in the C-Suite, CFO’s have the highest turnover rate, according to research from FP&A software Datarails. The research was conducted based on the 2,056 biggest listed US companies from the years 2016-2021. CFOs at these companies lasted an average of only 3.51 years in pos...

22/02/2023

Balancing people, data, tech & compliance is a tough job for CFOs. To stay ahead in this challenging environment, CFOs must embrace innovation & refine their leadership strategies. Check out these 5 standout data points from the 2023 Outlook Survey

CFOs report on upcoming tech strategies and non-executive managers weigh in on their finance chiefs' performance.

20/02/2023

CFOs, get ready to welcome your new business partner, the CMO! 👋

Collaboration between finance and marketing is essential in finding the balance between profitability and meeting customer needs.

Learn more about how to boost collaboration between the CFO and CMO in our latest blog post

There is frequently a conflict between Marketing and Finance. While Marketing aims to invest funds, Finance seeks to manage them. Marketing believes that a larger budget increases the likelihood of growth and prosperity, but this viewpoint may not always align with the financial strategy of the comp...

13/02/2023

A recent McKinsey report sheds light on the "hidden" damage of inflation on the global economy. Persistently high inflation not only affects growth and profitability, but also challenges value creation in companies. Stay ahead of the game by reading our latest blog post which covers the ins and outs of the report.

It’s no secret that the rampant inflation of the past year has harmed the global economy’s growth. Consumers are spending less, and companies’ revenue is dropping due to not being able to pass on the full price of inflation to the customer. But a recent McKinsey report highlights the “hidden...

08/02/2023

Unleashing the Power of Predictive Analytics 💻🔮💡

Have you ever wondered how companies predict future trends and probabilities?

Introducing Predictive Analytics!

This aspect of data mining uses AI, machine learning, and historical data to make future predictions. By analyzing historical data, a mathematical algorithm builds a model to predict what will happen next.

The benefits of predictive analytics are countless.

It helps in reducing risk and making informed decisions in various industries such as Manufacturing, Finance, Healthcare, Insurance, and SaaS. From predicting machine breakdowns in Manufacturing to detecting fraud in Insurance, predictive analytics has the power to revolutionize the way we do business.

Want to learn more? Check out our blog post 👇

Regardless of the industry predictive analytics can be used to produce deeper insight into any complicated process as long as the related data is available.

08/02/2023

2023 may bring some economic challenges, but don't worry. Our team at Finance Market Research has got you covered.

Check out our latest eBook (link in the comments), exclusively for CFOs and finance teams, packed with actionable steps to tackle the impending recession.

From cost-cutting strategies to proactive planning, we've got the research and insights to help you navigate these turbulent times.

01/02/2023

As the economy faces mounting inflation and economic uncertainty, today's CFOs are being called upon to drive big-picture solutions for revenue growth and cost savings while balancing the importance of diversity, equity, and inclusion (DE&I), ESG, and corporate sustainability.

With limited resources and talent, and a slow-growing economy, this presents a major challenge. To stay ahead, CFOs need to focus on 4 key priorities:

(1) have courageous conversations to motivate employees and improve diversity

(2) become fluent in digital, integrating new technologies and data analytics

(3) upskill employees in innovative ways

(4) trust technology to make accurate decisions.

Address mediocre performance, move away from traditional biases about technology, nurture talent, and give workers purpose and meaning.

16/01/2023

Retailers 🛍 🛒 , don't underestimate the power of financial planning and analysis (FP&A) in your business strategy

As we move towards digital transformation, achieving data accuracy and quick decision-making with accountability becomes increasingly important.

Butternut Box, a London-based dog food company, was able to scale its operations without increasing its team size by implementing the right FP&A solution.

Don't let external pressures like competition and supply disruptions hold you back, invest in a strong FP&A platform for flexible planning and strategic compliance. 💪

For retail businesses, the practice of financial planning and analysis (FP&A) may appear to be outside the main tasks of choosing, purchasing, and selling merchandise to customers. However, it plays a vital role in the strategic planning process for retailers.

12/01/2023

Finance leaders are turning to SaaS solutions to automate manual data entries and keep up with the fast-paced trend of short-term forecasting.

FP&A isn't just for finance and accounting departments anymore, it's now relevant for all aspects of an organization. With features like budget creation, forecasting, financial statement consolidation, automated GL, and cost management, FP&A software has it all.

Don't get left behind by sticking to spreadsheets, many FP&A software solutions are now available on the cloud.

Stay ahead of the game by checking out our latest 2023 report on the top FP&A software options, their strengths and weaknesses, and how they compare to the competition.

While most organizations continue to work with spreadsheets, many FP&A software solutions have followed suit on the cloud.

09/01/2023

Are you a fractional CFO looking to take your services to the next level? 🆙📈

Investing in the right FP&A tools can help you provide valuable strategic insights to your clients and improve their overall experience. 🔧🔨📊

With access to a wealth of customer data and the ability to evaluate various scenarios, FP&A software can help you guide your clients towards success. And with real-time web-based dashboards and an online reporting archive, you can easily collaborate and share your insights with your clients.

Don't miss out on the benefits of FP&A tools for your business and your clients.

FP&A software is important for CFOs of all types of companies, but has the potential to benefit Fractional CFOs even more due to the large amount of customers.

02/01/2023

Throughout the year, Finance Market Research provides a range of content relevant to finance professionals from various industries. 👮‍♂️👩‍⚕️👨‍🌾👩‍🔧👨‍🏭👩‍💼👨‍🔬👩‍💻

As the year winds down, we wanted to take a moment to highlight some of the stories that resonated most with our readers.

You might even find something that will help you and your business learn and grow in 2023 📈

Our 6 Must-Read Stories of 2️⃣ 0️⃣ 2️⃣ 2️⃣

🌟 Outlining the Best Finance Leadership Strategy in Hi-Tech (https://bit.ly/3GxtWyT)

🌟 Digging Deeper with Predictive Analytics (https://bit.ly/3Gz6sJZ)

🌟 Efficient Financial Transformation in Banking (https://bit.ly/3VDP2jA)

🌟 How a Canadian Storage Rental Company is Saving $500,000 Through Better Financial Insights (https://bit.ly/3ZfGYZs)

🌟 Rescuing Modern Retail Obstacles with FP&A (https://bit.ly/3Ihzhvt)

🌟 4 Publicly Traded Companies Conducting CFO Shake-Ups in October (https://bit.ly/3vCZPQh)

26/12/2022

Nonprofit organizations have it especially rough during an economic downturn.

While for-profit organizations can always lower prices, cut back on spending, or shuffle things around in any way that might help the business, nonprofits usually don’t have the luxury to do that.

Many rely on donations, and even those that have some income sources, usually suffer more during an economic downturn.

According to Philanthropy, “the number of donors to organizations fell by 7% in the first half of 2022 compared to the first half of 2021.”

But even during good economic times, nonprofits have a harder time in comparison to for-profit organizations in one area: Their FP&A function.

Improving FP&A and understanding what areas are inefficient and can be improved is the key for nonprofits to survive an economic downturn. 🔑📈

Nonprofits have it rough during an economic downturn due to decreasing donations and less options for cutting costs. Here is how to increase efficiency through FP&A

22/12/2022

As a startup, it's crucial to make every penny of your Series A and B funding count. 💰💸

One way to do this is by implementing a strategic finance operation, even if you don't have the resources to build a full finance team.

But there are some pitfalls to avoid along the way. 🕳 ❌

Andi Ruda, a former CFO and founder of Rainbow CFO, a company that provides fractional CFO services to startups, advises steering clear of overspending on marketing, rushing into full-time hires, and mismanaging new capital.

So, what's the solution for startups looking for personalized financial advice without breaking the bank on back-office expenses?

Check out the blog post below for more information! 👇

During the early stages of startup growth, you’re stretching every dollar of that Series A and B funding to make it count. You can achieve this by using a strategic finance operation.

19/12/2022

Achieve a $32 Billion Valuation with a Hot Mess Excel Spreadsheet 💰

How?

Just ask FTX

Just when you thought the story of the downfall of crypto exchange FTX couldn't get any worse, there are even more shocking details, including something that every CFO dreads:

Messy Excel spreadsheets 😫😱

Last month, FTX, one of the largest cryptocurrency exchanges in the world, with a previous valuation of $32 billion, filed for bankruptcy, and its CEO, 30-year-old Sam Bankman-Fried, resigned.

FTX was backed by some of the biggest venture capital firms, including Sequoia Capital, SoftBank, and Tiger Global Management but apparently, the company had serious leadership structure issues, poor internal labeling, and sloppy spreadsheets making it unclear why FTX investors were so satisfied, and impressed that they gave such a high valuation.

Read more about the story in our latest blog post 👇

When you thought the story of the downfall of crypto exchange FTX couldn't get any worse, there are even more shocking details, including something that every CFO dreads: messy Excel spreadsheets.