CFOs can estimate potential financial returns from cross-functional data sharing and re-engineering of processes. Digital transformation across business functions may bring much higher benefits. For example, for transforming customer experience, finance professionals can help marketing, sales, or even product development departments to understand the value of analysing customer behaviour across all customer touchpoints.
There are many cloud computing providers today (Amazon, Microsoft, Google and several others). An increasing number of companies are getting their work done in the data centres of these companies. Spending on cloud services continues to grow. CFOs can therefore help CIOs decide whether a shift to cloud services makes financial sense.
Finance professionals can prepare a rigorous economic case for where digital business processes and IT infrastructure should be located. It is not merely about cost reduction but also the capacity to provide high quality, data-intensive details of customer experiences. Should the business use some cloud options? CFOs can help with the economics of such a decision. This is the conclusion of cfo.com.
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