How can a CFO increase information transparency?

11. 07. 17 Marcus Kelly

The common driver among CFO’s looking to increase information transparency throughout their organisation is the need to remove disparate and disconnected silo systems.

By replacing these silos with a system that can unify departments and integrate data across an organisation, you allow visibility across the business, leading to greater organisational efficiency.

What does this efficiency mean? Having a single data source that everyone in the business can access. It is available in the office, working from home, with a client or in a different country. This allows the business to operate more collaboratively, saving both time and resources.

As companies grow, they can begin to loose agility and profitable growth, so businesses need tools that can help them to revive this growth by simplifying and speeding up the use of information across their business.

CFO’s are faced with an array of solution providers and delivery methods, so how do you go about selecting the one that will best meet your requirements?

Like any selection process, there are a number factors to consider:

  • In-house skills and knowledge base
  • Existing business systems
  • Size and structure of the business
  • Recent acquisitions
  • Distribution model
  • Operating environment

By utilizing a solution provider that specialises in projects for your industry, you can complement in-house skills and ensure you have the expertise in place to make the project a success.

TouchstoneEnergy is the only European finance software and IT consultancy dedicated exclusively to the oil and gas, renewables, mining and downstream trading industries.

Specialising in the delivery of customised, automated business systems that streamline processes, increase financial control, support change and drive measurable growth.

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Marcus Kelly

Written by:

Marcus Kelly

Marketing & Business Development Manager