Rapid digital advancement has seen an evolution in the roles and expectations across all ranges of industries and professions. This role adaptation and advancement can be seen in the increased role expectations placed on the modern CFO. In today’s market, CFOs are expected to keep up the traditional expectations of their positions, while incorporating the role of the strategic organisational leader as well.
In addition, with the rise in cloud and automated services, investors and stakeholders often have an ever-increasing expectation to have continual feedback from reliable reports and statistics.
Ken Cullinan, Divisional Director at iOCO, states that some may view these additional role requirements as hinderances or obstacles to overcome. “However, when given the correct advanced and innovative technology, such as Oracle’s NetSuite ERP, modern-day CFOs can utilise these dual roles to implement advanced strategy and resultant business growth.”
What is Oracle NetSuite?
NetSuite is Oracle’s premium Enterprise Resource Planning (ERP) solution, which functions as a single unified business management suite. NetSuite streamlines the CFO’s responsibilities by incorporating ERP/Financials, CRM, and eCommerce.
Oracle NetSuite: Benefits Provided to Modern Day CFOs
According to Cullinan, “Oracle NetSuite ERP provides customers with a wide range of benefits that are designed to strengthen and support any organisation’s financial ecosystem.”
Some benefits include:
Enhancing functionality of traditional responsibilities, such as internal controls, compliance, and efficient and effective closing of books- Allowing for new and advanced functionalities, such as regulatory changes, artificial intelligence, and blockchain
- Enhanced financial strategic approach and visibility with daily closings instead of the traditional monthly close
- Ease of use with unified platforms
- Strengthening of approach in the vital areas of strategy, auditing and planning, and budgeting and forecasting
- Errors and discrepancies are identified in a timeous manner, which in turn assists in bolstering against instances of potential fraud
- Audits are done more expediently and with greater efficiency
- Highly accurate and reliable statistics and reports
- Processes are automated to increase productivity and enhance communication and collaboration
Who is the Oracle NetSuite ERP Right For?
NetSuite is a highly flexible system that can be applied successfully to all types of organisations. This flexibility also means that the system can be applied to any business shifts, adaptations, and changes without losing effectiveness and quality.
“NetSuite ERP is designed with every type of CFO in mind. It helps to alleviate the pressure created by dual role expectancies placed on modern day CFOs, while ensuring successful application and financial growth,” concludes Cullinan.
To learn more about the Oracle NetSuite ERP Solution, contact Ken Cullinan on ken.cullinan@ioco.tech.
