Success Story - Dave Moench (CFO, 3E, Infor SX.e)

Accounting is one of the oldest professions, with double-entry bookkeeping tracing back to Roman merchants in the 14th century. And the genius of a system in which every transaction is recorded with an opposite entry in a different account continues to be standard practice. Just as accounting emerged during the shift from the Middle Ages to the Renaissance, today’s finance teams must also adapt to new challenges and opportunities.

Finance teams are increasingly under pressure to provide CEOs and other executives with information related to their business’ current financial scenario — but it’s not always easy for them to do so.

In today’s fast-paced business world, operational efficiency and confident decision-making are key to keeping your competitive edge. However, leveraging financial and operational data to do just that is a significant challenge for many organizations.

Apologies if you think we are stating the obvious and you know accounting is big business. But the main point we want to make is the changing nature of the accounting function. Financial management has always been necessary in a business to oversee the income, expenditures and cashflow but now the accounting function is the hero or the main influencer of a business.