Digitization has created an explosion of data, both in volume and type.
Businesses now operate in a digital Wild West where data must be curated by each department to meet the growing complexity of modern enterprises.
Without proper tooling or specialization, Finance is drowning in spreadsheets and spending too much time on manual and error-prone tasks.
As companies get more complex, add more systems, introduce new products, and acquire companies, Finance has to deal with the downstream impact. One small change can cause you to spend months revamping your entire process.
Bottlenecks in Finance affect the whole organization. Far too many companies are making judgment calls on stale data.
The path to growth begins with a steady foundation, well-defined people,
processes, and a streamlined technology stack.
This orchestration of people, processes, and technologies is what we call Finance Operations or “FinOps”.
How Finance Operations Empowers the Finance Function
Source: Andreesen Horowitz
Equip your organization with Finance Operations:
Eliminate risk of material misstatement and gain real-time visibility for data-driven decision making.
Spend more time analyzing financial performance and being a strategic partner to the business and less time on manual, error-prone tasks.
Ensure financial systems are flexible and scalable to handle business growth. Maintain financial data hygiene.
Designing the Ideal Finance Tech Stack
FinOps designs the ideal finance tech stack and maintains the “source of truth” for financial data. Oftentimes companies are using point solutions or legacy systems beyond what they’re capable of doing. FinOps adapts to systems chosen by Finance and Product/Engineering to ensure you get the most out of each point solution.
With FinOps, Finance will be set up for success. Your systems should be working for you instead of boggling you down.
Build the foundation for teams to do more
Empower forward-looking decisions with an accurate financial picture
Create more value from the financial data you already have on-hand