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February 2013

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Learn What It Takes to Create a 21st Century Finance Organization

To succeed in today’s volatile business environment, CFOs need agile business processes and systems to support growth, minimize risk, and deliver results that satisfy stakeholders. Advice and best practices to help financial executives achieve these goals are now available in a new executive strategy brief from Oracle, “21st Century Finance—Maximize Potential, Deliver Results.”

The strategy brief describes important ways CFOs can create a modern finance organization that leverages integrated technology systems and platforms and focuses on strategic initiatives rather than traditional practices that rely on spreadsheets and disparate data sources.

This new approach is needed because in many cases an organization’s existing tools and technology don’t meet today’s business challenges, the brief points out. Inflexible and outdated IT systems are the biggest barriers to improving the effectiveness of the finance function, according to a study by CFO Publishing and KPMG International cited in the brief. For example, research by Dynamic Markets has shown that 40 percent of organizations can only forecast three months in advance, while 93 percent of finance departments are using spreadsheets for critical financial processes.

In addition to laying out the challenges CFOs face today, the new strategy brief also describes Oracle’s market-leading financial management solutions for addressing these areas. These include solutions for integrated financial management; governance, risk, and compliance; and performance management.

The brief also explains how finance executives can use Oracle Cloud and its broad portfolio of software-as-a-service business applications to quickly deploy solutions across an entire enterprise to standardize business processes, reduce costs, increase agility, and gain other benefits.

Download “21st Century Finance: Maximize Potential, Deliver Results” to learn what it takes to create a 21st century finance organization. More information about this important topic is also available from Oracle’s new e-book, “21st Century Finance Maximize Potential, Deliver Results,” and a new video, “Transforming a Day in the Life of a CFO.”

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