Enhancing Margins and Gaining Competitive Advantage
The business environment has seen drastic changes in recent times, with increasing competition, complex tax regulations and more rigid compliance norms designated by the government all having detrimental impact on companies’ bottom lines. This has led to such corporations turning their attention to lowering operating costs within their decentralized operations through strategic analytics. Today, the businesses that substantially outperform the competition are five times more likely to use analytics strategically in comparison to underperformers.
Controlling Operating Expenses: Typical Challenges for the CFO
- A lack of holistic reporting across expense category level(s) and BUs
- Huge data sets with no tools for their analysis
- Information failing to reach line managers for change implementation
- Scarce financial resources in both the short- and long-term