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What does data mean to you? Given you’re reading this, you’re probably aware that data is important for your business. But what does data mean to you and how can it impact your role? In this three part series we’ll not only show what kleene data means, but what kleene data can do for you. First up, what does data mean to the Chief Financial Officer?
As CFO you need data you can trust, so that your investors have the confidence to invest in you. Manual processes aren’t just time consuming, they increase the possibility for human error, resulting in data you can’t rely on. Automation and standardisation are key to delivering a clear and accurate picture of the business, so that you can provide assurance to your investors.
Complete, reliable and thoroughly analysed data supports informed business decisions. To achieve this, you need a single source of truth that takes multiple sets of data into account, inclusive of all business functions, from sales and marketing to finance. Viewing data in silos wastes time and money, as you’re not getting a complete view of inputs and outputs. With kleene, you’ll gain a comprehensive view of the business, that everyone can trust.
Data provides numbers and as CFO, numbers are pretty integral to your role. Your decisions are driven by numbers. These are easy to access and understand in some business functions – sales and finance for example – but not always evident in others.
Being a data-led business means making data driven decisions in every department. For centralised decision making to be successful, you need to be informed with the full picture in figures. Your aim should be a single version of the truth, with data democratisation across departments achieved via a well-managed business intelligence tool, like Power BI or Tableau.
When it comes to allocating marketing budgets, it’s often difficult as CFO to connect the department’s activities with quantifiable returns for the business. The amount of budget assigned to marketing needs to be informed by numbers, such as reliable tracking of lead generation, which data can deliver. Data removes ambiguity and enables CFOs to analyse the return on investment.
Do data right and marketing spend will no longer feel like a blind spot. Clear visibility of ROI means you can make a decision based on measurable results and returns. Data should be used to bring clarity to your organisation’s marketing efforts, the tricky part is making that data available.
With kleene, you can fully automate financial reporting – giving you the data you need where you need it, when you want it. All financial reports (general ledger, P+L, reconciliations) require information from multiple systems, which is often a painful process of downloading, uploading and combining CSVs in Excel.
Full automation of financial reporting gives you data you can trust, instantly updated without any manual labour required. Saving you time and money – the meaning of data.
Do it once, do it well. We’ve said it before, and we’ll be saying it again.
Want to know more? Book a Demo to discover how kleene can solve your data headaches.
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