Finance Market Research

Finance professionals cloning themselves?

AI and automation changing the way we work?

A petition against manual and boring finance work with over 300 signatures?

No, it's not a new Sci-fi movie, it’s a campaign from 10 financial software companies that was created to raise awareness of the harmful effects of too much manual work in the finance department.

Read all about it in our latest blog post 👇

https://www.financemarketresearch.com/post/clone-yourself-or-automate-the-new-finance-movement-that-is-gaining-momentum

Clone Yourself or Automate? The New Finance Movement That is Gaining Momentum Finance professionals cloning themselves? AI and automation changing the way we work? A petition against manual and boring finance work with over 300 signatures? No, it's not a new Sci-fi movie, it’s a campaign from 10 financial software companies that was created to raise awareness of the harmful...

Gartner’s FP&A Leadership Vision Report for 2023 focuses on FP&A leaders guiding their companies through turbulent economic times and challenges.



The roadmap mainly focused on the 5 priorities for FP&A leaders in 2023 based on the risks and challenges.



1. Redefine the strategy for planning, budgeting, and forecasting.



2. Reevaluate FP&A’s scope and org design to maximize business impact.



3. Evolve finance business partnerships for a digital future.



4. Develop a financial data and analytics strategy.



5. Accelerate AI implementation in finance.



Learn more about the roadmap, priorities, and plans of action 👇

https://www.financemarketresearch.com/post/the-5-priorities-for-fp-a-leaders-in-2023

The 5 Priorities for FP&A Leaders in 2023 Gartner’s FP&A Leadership Vision Report for 2023 focuses on FP&A leaders guiding their companies through the turbulent economic times and challenges. Gartner identifies the main risks and challenges in 2023 as: Climate & ESG - (Extreme weather, Climate activism, infrastructure failures, etc.) Econ...

Hey, have you heard about these things called AI chatbots? 🤖Apparently, it’s all the rage nowadays.

The race for chatbot supremacy is intensifying ever since the emergence of OpenAI's ChatGPT, with large tech companies like Google, Meta, and Microsoft also investing heavily in the development of their own advanced chatbot systems 🏃‍♀️🏃‍♂️

In addition, many other companies like Morgan Stanley, PwC, Duolingo, and Stripe have realized the potential benefits of integrating AI chatbots into their businesses and products.

And chatbots are coming into the finance function, too. 📊📈

Glenn Hopper, who is the author of Deep Finance: Corporate Finance in the Information Age and also serves as the director at Eventus Advisory Group, suggests some of the potential benefits of AI chatbots for the finance department.

Check out our latest blog to learn about his suggestions 👇

AI Chatbots Enter the Finance Function Hey, have you heard about these things called AI chatbots? Apparently, it’s all the rage nowadays. The race for chatbot supremacy is intensifying ever since the emergence of Open AI’s ChatGPT, with large tech companies like Google, Meta, and Microsoft also investing heavily in the development of...

Despite beginning the year with a remarkable valuation of $1.7 trillion 😲, a substantial rise from its $172 billion valuation just six years prior, Amazon's value declined to around $834 billion. ↘

Although this decline led to Amazon falling out of the trillion-dollar club, there is a lot to be learned from the company's practices, particularly in the area of budgeting. 💲💰

Its unconventional ways of conducting the process create business efficiency, and perhaps open-mindedness is one of the factors that contributed to creating Amazon Prime. 📦

Here are 5 of Amazon’s budgeting strategies that are worth getting familiar with.

Amazon Budgeting Strategies to Learn From The year 2022 proved to be a difficult one for mega-cap tech stocks, including Amazon, which was hit particularly hard. Despite beginning the year with a remarkable valuation of $1.7 trillion, a substantial rise from its $172 billion valuation just six years prior, the company's value declined to ar...

The accounting and finance shortage seems to be getting worse and worse, and the challenges of finding and keeping CFOs aren’t getting any easier.

The mounting pressure from the economic challenges of the past few years means that CFOs are facing more scrutiny and leadership challenges than ever before.

Businesses will have to find a way to attract finance leaders, and even more important, get them to stay.

Out of all the positions in the C-Suite, CFOs have the highest turnover rate, according to research from FP&A software Datarails.

Check out our latest article to learn more about why there is such a high turnover rate for CFOs 👇

CFOs Have the Highest Turnover Rate Out of all the C-Suite Positions Out of all the positions in the C-Suite, CFO’s have the highest turnover rate, according to research from FP&A software Datarails. The research was conducted based on the 2,056 biggest listed US companies from the years 2016-2021. CFOs at these companies lasted an average of only 3.51 years in pos...

Balancing people, data, tech & compliance is a tough job for CFOs. To stay ahead in this challenging environment, CFOs must embrace innovation & refine their leadership strategies. Check out these 5 standout data points from the 2023 Outlook Survey

The CFO's Changing Role: 5 Data Points from the 2023 CFO Outlook Survey CFOs report on upcoming tech strategies and non-executive managers weigh in on their finance chiefs' performance.

CFOs, get ready to welcome your new business partner, the CMO! 👋

Collaboration between finance and marketing is essential in finding the balance between profitability and meeting customer needs.

Learn more about how to boost collaboration between the CFO and CMO in our latest blog post

CFOs: Say Hello to Your New Business Partner the CMO There is frequently a conflict between Marketing and Finance. While Marketing aims to invest funds, Finance seeks to manage them. Marketing believes that a larger budget increases the likelihood of growth and prosperity, but this viewpoint may not always align with the financial strategy of the comp...

A recent McKinsey report sheds light on the "hidden" damage of inflation on the global economy. Persistently high inflation not only affects growth and profitability, but also challenges value creation in companies. Stay ahead of the game by reading our latest blog post which covers the ins and outs of the report.

Inflation may be causing more harm than we can calculate: McKinsey It’s no secret that the rampant inflation of the past year has harmed the global economy’s growth. Consumers are spending less, and companies’ revenue is dropping due to not being able to pass on the full price of inflation to the customer. But a recent McKinsey report highlights the “hidden...

Unleashing the Power of Predictive Analytics 💻🔮💡

Have you ever wondered how companies predict future trends and probabilities?

Introducing Predictive Analytics!

This aspect of data mining uses AI, machine learning, and historical data to make future predictions. By analyzing historical data, a mathematical algorithm builds a model to predict what will happen next.

The benefits of predictive analytics are countless.

It helps in reducing risk and making informed decisions in various industries such as Manufacturing, Finance, Healthcare, Insurance, and SaaS. From predicting machine breakdowns in Manufacturing to detecting fraud in Insurance, predictive analytics has the power to revolutionize the way we do business.

Want to learn more? Check out our blog post 👇

Digging Deeper with Predictive Analytics Regardless of the industry predictive analytics can be used to produce deeper insight into any complicated process as long as the related data is available.

2023 may bring some economic challenges, but don't worry. Our team at Finance Market Research has got you covered.

Check out our latest eBook (link in the comments), exclusively for CFOs and finance teams, packed with actionable steps to tackle the impending recession.

From cost-cutting strategies to proactive planning, we've got the research and insights to help you navigate these turbulent times.

As the economy faces mounting inflation and economic uncertainty, today's CFOs are being called upon to drive big-picture solutions for revenue growth and cost savings while balancing the importance of diversity, equity, and inclusion (DE&I), ESG, and corporate sustainability.

With limited resources and talent, and a slow-growing economy, this presents a major challenge. To stay ahead, CFOs need to focus on 4 key priorities:

(1) have courageous conversations to motivate employees and improve diversity

(2) become fluent in digital, integrating new technologies and data analytics

(3) upskill employees in innovative ways

(4) trust technology to make accurate decisions.

4 Strategic Priorities for the Modern CFO Address mediocre performance, move away from traditional biases about technology, nurture talent, and give workers purpose and meaning.

Retailers 🛍 🛒 , don't underestimate the power of financial planning and analysis (FP&A) in your business strategy

As we move towards digital transformation, achieving data accuracy and quick decision-making with accountability becomes increasingly important.

Butternut Box, a London-based dog food company, was able to scale its operations without increasing its team size by implementing the right FP&A solution.

Don't let external pressures like competition and supply disruptions hold you back, invest in a strong FP&A platform for flexible planning and strategic compliance. 💪

The Impact of FP&A on Retail For retail businesses, the practice of financial planning and analysis (FP&A) may appear to be outside the main tasks of choosing, purchasing, and selling merchandise to customers. However, it plays a vital role in the strategic planning process for retailers.

Finance leaders are turning to SaaS solutions to automate manual data entries and keep up with the fast-paced trend of short-term forecasting.

FP&A isn't just for finance and accounting departments anymore, it's now relevant for all aspects of an organization. With features like budget creation, forecasting, financial statement consolidation, automated GL, and cost management, FP&A software has it all.

Don't get left behind by sticking to spreadsheets, many FP&A software solutions are now available on the cloud.

Stay ahead of the game by checking out our latest 2023 report on the top FP&A software options, their strengths and weaknesses, and how they compare to the competition.

2023 FP&A Software Report | FinMarketResearch While most organizations continue to work with spreadsheets, many FP&A software solutions have followed suit on the cloud.

Are you a fractional CFO looking to take your services to the next level? 🆙📈

Investing in the right FP&A tools can help you provide valuable strategic insights to your clients and improve their overall experience. 🔧🔨📊

With access to a wealth of customer data and the ability to evaluate various scenarios, FP&A software can help you guide your clients towards success. And with real-time web-based dashboards and an online reporting archive, you can easily collaborate and share your insights with your clients.

Don't miss out on the benefits of FP&A tools for your business and your clients.

The Benefits of FP&A Software for Fractional CFOs FP&A software is important for CFOs of all types of companies, but has the potential to benefit Fractional CFOs even more due to the large amount of customers.

Throughout the year, Finance Market Research provides a range of content relevant to finance professionals from various industries. 👮‍♂️👩‍⚕️👨‍🌾👩‍🔧👨‍🏭👩‍💼👨‍🔬👩‍💻

As the year winds down, we wanted to take a moment to highlight some of the stories that resonated most with our readers.

You might even find something that will help you and your business learn and grow in 2023 📈

Our 6 Must-Read Stories of 2️⃣ 0️⃣ 2️⃣ 2️⃣

🌟 Outlining the Best Finance Leadership Strategy in Hi-Tech (https://bit.ly/3GxtWyT)

🌟 Digging Deeper with Predictive Analytics (https://bit.ly/3Gz6sJZ)

🌟 Efficient Financial Transformation in Banking (https://bit.ly/3VDP2jA)

🌟 How a Canadian Storage Rental Company is Saving $500,000 Through Better Financial Insights (https://bit.ly/3ZfGYZs)

🌟 Rescuing Modern Retail Obstacles with FP&A (https://bit.ly/3Ihzhvt)

🌟 4 Publicly Traded Companies Conducting CFO Shake-Ups in October (https://bit.ly/3vCZPQh)

Nonprofit organizations have it especially rough during an economic downturn.

While for-profit organizations can always lower prices, cut back on spending, or shuffle things around in any way that might help the business, nonprofits usually don’t have the luxury to do that.

Many rely on donations, and even those that have some income sources, usually suffer more during an economic downturn.

According to Philanthropy, “the number of donors to organizations fell by 7% in the first half of 2022 compared to the first half of 2021.”

But even during good economic times, nonprofits have a harder time in comparison to for-profit organizations in one area: Their FP&A function.

Improving FP&A and understanding what areas are inefficient and can be improved is the key for nonprofits to survive an economic downturn. 🔑📈

Increasing Nonprofit Efficiency During Economic Downturns Nonprofits have it rough during an economic downturn due to decreasing donations and less options for cutting costs. Here is how to increase efficiency through FP&A

As a startup, it's crucial to make every penny of your Series A and B funding count. 💰💸

One way to do this is by implementing a strategic finance operation, even if you don't have the resources to build a full finance team.

But there are some pitfalls to avoid along the way. 🕳 ❌

Andi Ruda, a former CFO and founder of Rainbow CFO, a company that provides fractional CFO services to startups, advises steering clear of overspending on marketing, rushing into full-time hires, and mismanaging new capital.

So, what's the solution for startups looking for personalized financial advice without breaking the bank on back-office expenses?

Check out the blog post below for more information! 👇

Optimizing Your Startup's Finance Spend Tactics During the early stages of startup growth, you’re stretching every dollar of that Series A and B funding to make it count. You can achieve this by using a strategic finance operation.

Achieve a $32 Billion Valuation with a Hot Mess Excel Spreadsheet 💰

How?

Just ask FTX

Just when you thought the story of the downfall of crypto exchange FTX couldn't get any worse, there are even more shocking details, including something that every CFO dreads:

Messy Excel spreadsheets 😫😱

Last month, FTX, one of the largest cryptocurrency exchanges in the world, with a previous valuation of $32 billion, filed for bankruptcy, and its CEO, 30-year-old Sam Bankman-Fried, resigned.

FTX was backed by some of the biggest venture capital firms, including Sequoia Capital, SoftBank, and Tiger Global Management but apparently, the company had serious leadership structure issues, poor internal labeling, and sloppy spreadsheets making it unclear why FTX investors were so satisfied, and impressed that they gave such a high valuation.

Read more about the story in our latest blog post 👇

Unbelievable: The Power of a Messy Excel Spreadsheet When you thought the story of the downfall of crypto exchange FTX couldn't get any worse, there are even more shocking details, including something that every CFO dreads: messy Excel spreadsheets.

The wave of troubling economic news only seems to be getting worse. 😰

Inflation isn’t subsiding, loans and mortgages are increasing, fuel is skyrocketing, and rent is through the roof. To top it all off, the stock market has officially re-entered bear market territory.

As a result, companies quickly started making the switch from growth at any cost to cutting expenses and efficient growth.

Many organizations jump to cash-saving conclusions at times

like these, but there needs to be a strategy involved as well.

Your CFO checklist for immediate action:

✅ Reduce headcount when needed- but only after a

thorough understanding of all of the implications

involved.

✅ Cut down on subscription costs. This can be canceling

unused licenses, renegotiating contacts or using one

company’s solutions for all your needs.

✅ Proactive scenario planning. Using FP&A software

solutions will help the company gain better insights

into each action’s implications and how it will

negatively or positively affect the company.

Check out the full eBook to get expert advice on common actions taken during a market downturn, some of their mistakes, and tips for coming out of the inevitable recession even stronger.

Why CFOs Need to Take Immediate Action | FinMarketResearch A June survey by The Conference Board shows that 60% of CFOs believe that a recession is imminent. While CFOs and executives are scrambling to cut costs and increase efficiency, we at the Finance Market Research have put together a comprehensive eBook specifically for CFOs and finance teams which is...

Believe it or not, even the CFO might be working in sweatpants these days.

Contrary to the traditional stereotype of a formally dressed executive tapping their pen against a mahogany desk in a shiny office building 💼👔 the new CFO is wearing a coffee-stained T-shirt and eating stale donuts in the spare bedroom. 🍩☕

The emergence of the athleisure-wearing WFH CFO comes down to how in-demand top-flight CFO talent is right now.

Some organizations are now offering more hybrid—or fully remote—opportunities as an incentive to attract that unicorn talent for the CFO role.

Companies go looking for remote CFOs Some companies are starting to offer remote work opportunities for CFOs to attract talent

Today, an organization's success or failure depends on its capacity to foresee change and respond quickly to it, such as the present global inflation crisis. 🌐📉

With massive data sets scattered across numerous , finance professionals aim to produce highly precise methods for forecasting outcomes.

Without the help of technology and AI-based solutions, making sense of the data deluge is time-consuming and, in the face of such rapid change, a sure-fire way to limp behind the competition.

So how can businesses use financial planning processes to their greatest advantage in order to counteract the consequences of the present inflationary environment?

Offset the Effects of Inflation with Financial Planning Processes Today, an organization's success or failure depends on its capacity to foresee change and respond quickly to it, such as the present global inflation crisis. With massive data sets scattered across numerous spreadsheets, finance professionals aim to produce highly precise methods for forecasting out...

Fractional CFOs ( ) have become an increasingly popular CFO solution over the past few years.

There is a huge demand for their services, but FCFOs are not doing enough to retain their existing customers through long-term engagement nor are they providing efficient services to be able to take on additional clients.

CFO service providers and fractional CFOs: Save time by automating reporting, so you can give your clients the expertise and strategic insights they truly value!

Check out our latest eBook to learn how you can take care of your problems at once with only one solution 💡🌟

FCFO | FinMarketResearch Fractional CFOs (FCFOs) have become an increasingly popular CFO solution over the past few years. Between 2019-2020 there was a 27% increase in CFO resignations, which started a CFO shortage that has only gotten worse since then due to the Great Resignation and skills shortages.

Ticketmaster is facing renewed calls for antitrust investigations after the recent Taylor Swift ticket sale problems.

While this is not something new for Ticketmaster (rock bands, music fans, and lawmakers have been trying to break up their monopoly for years), it renews investigations into other antitrust instances, namely U.S. phone service companies and "Big Tech".

If the Federal Trade Commission does get involved it can affect businesses and M&As in a lot of ways.

Ticketmaster is Renewing Calls for Antitrust Violations Ticketmaster's fiasco with recent Taylor Swift ticket sales is renewing calls from lawmakers to investigate antitrust laws. How will this affect the market?

More and more companies are outsourcing their transportation and processes to 3rd parties.

These management companies are better equipped for the rapidly changing data and costs and all of the factors that influence this highly sensitive department.

But what do these analytical supply chain management companies use to deal with their sensitive and rapidly changing analytics? 🤔



The answer to this question is in our latest blog. Check it out 👇

The Analytical FP&A Solution for Analytical Companies 3rd party transportation and supply chain management companies are very common. This article explains how these analytical companies conduct their analytics

How can you break into the notoriously brutal auto industry and become the world's most valuable carmaker in 17 years? 🚘🌟

While Elon Musk's strategy of “attacking opportunities, heedless of risk” may have been a factor in Tesla’s success, plunging headfirst into high-risk business decisions nearly bankrupted the company.

Twice.

If it wasn't for a strategic CFO leading the company during its most difficult moments Tesla would not have made it to this point.

And for that reason, it's critical that finance has a seat at the strategic table.

Check out our latest blog where we cover finance lessons from Tesla that will put you on the top 🏆 https://bit.ly/3DPN2hn

Typical finance companies devote roughly 10% more time and resources to financial planning and analysis (FP&A) activities than they did a decade ago, yet FP&A teams are still falling behind.

Earlier this year, McKinsey & Company published an article in which they examined important aspects of business unit FP&A that have contributed to the business unit's distinctive success and encouraged the sharing of best practices throughout the organization.

Have you already read it? 🤔

Check it out! https://mck.co/3t775CV

Employee retention credits were a lifesaver for many businesses.

Those who qualified could earn refundable credits of tens of thousands of dollars per employee throughout 2020 and 2021.

In fact, they are still available for those whose businesses were affected by the pandemic.

Companies that haven't applied are missing out, and those who have need to navigate the confusing laws and paperwork to ensure that it was done correctly.

Check out our latest blog which includes everything CFOs need to know about Employee Retention Credits: https://www.financemarketresearch.com/post/what-cfos-need-to-know-about-employee-retention-credits

There have been a lot of big moves happening in companies across the globe. 🏃‍♀️ 🌎 🏃‍♂️

Many are introducing new rounds of in response to events such as slow markets, , and the , while others are bouncing back nicely from pandemic restrictions.

Many companies are also introducing changes, especially for the position, in order to deal with company mindset and strategy changes.

Some CFOs are leaving struggling companies for greener pastures 🌳🌳 while others are being laid off 👋 .

In our recent blog post, we speak about the 4 publicly traded companies that have made big CFO moves so far in October.

4 Public Companies With October CFO Shake Ups There have been a lot of big moves happening in companies and leadership changes are a big part. Here are 4 public companies that have switched CFOs in October

Making strategic supply chain decisions can help CFOs maintain a critical balance between cutting costs and spurring growth 📈↗️

CFOs can cut supply chain costs with outsourcing, automation Making strategic supply chain decisions can help CFOs maintain a critical balance between cutting costs and spurring growth.

Your finances are your business's lifeblood🩸💓📈

They're not the kind of thing you should leave up to chance.

Having a complete understanding enables you to make smarter decisions by better evaluating your risks and capabilities.

Amazingly, even in today's tech-driven world, many businesses continue to create their financial reports and budgets manually. 😓

CloudPay, an online payroll company, recently increased the accuracy, reliability, and granularity of their data by implementing Datarails’ FP&A solution, allowing them to invest in the company’s growth and receiving $2 million to develop a stronger payroll engine as a result of the board's increased confidence in their figures.

Interested in stepping up your financial reporting game? Check out our latest blog post 👇👇

Payroll Provider CloudPay is stepping up its financial reporting game with an FP&A solution Amazingly, even in today's tech-driven world, many businesses continue to create their financial reports and budgets manually. While working with data in Google Sheets or Excel may seem like a step up from paper recording, it still isn't your best option.