MARCH 2018CIOAPPLICATIONSEUROPE.COM8STEVE COX, GROUP VICE PRESIDENT, ORACLE ERP AND EPM PRODUCT MARKETING, ORACLENext-Generation KPIs of Highly Successful CFOsistorically, CFOs relied solely on traditional business' financial performance KPIs such as accounts payable/receivable, cash flow, and net profit margin to measure success. In addition, CFOs rarely found the need to venture outside of their scope into other departments' performance metrics. However, the digital transformation has impacted the overall pace of business and andhas inspired a reevaluation of technology investments. With the cloud and advanced technologies like artificial intelligence, machine learning and others, CFOs must now meet challenges that come with a new collaborative business environment on top of increasing pressure to meet business goals and bottom-line financial performance. This, coupled with a growing competitive market, forces the need for finance leaders to become more agile, efficient, and strategic than ever before.It's not just about calculating hard figures anymore ­ it's about more calculated thinking. CEOs are looking to their finance leaders to help drive wider business strategies. CFOs now need to shape their action plans based on the company's short and long-term goals with a more comprehensive understanding of other business areas like HR, product development, customer service, and IT. As a result, traditional financial key performance indicators (KPIs) no longer apply. According to research from the American Institute of Certified Public Accountants (AICPA), agile finance leaders are more effective at delivering forward-looking analyses that identify new business opportunities. A unified cloud suite that ties back- office systems together provides CFOs the holistic view needed to uncover these opportunities. With more data at their disposal, their roles and functions are quickly evolving. They must now analyze new generation of intangible KPIs that in myopinionHSteve Cox
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