Your business in the cloud: Metrics that matter

Leading chief financial officers (CFOs) have ushered in the most recent wave of enterprise technology development—extensive acceptance of enterprise resource planning (ERP) and other supplementary financial systems, along with advances in database and communications technology. And with this adoption, they’ve gained new authority—not just within finance but across the enterprise.

This milestone in finance has come at a time of renewed digital transformation. Advancements in artificial intelligence (AI), machine learning, and advanced analytics are redefining the role and potential of the corporate finance function. More than ever, CFOs must reconsider their priorities. How should they invest in advanced analytics? How can they better align analytics with business strategies for finance as well as the entire organization? How should they work with business partners to enlist new digital technologies to better capture enterprise performance?

Finding the right method of positioning analytics in a way to increase performance—and discovering the best answers to the numerous tests raised by advanced analytics—will require the effort of multiple business constituencies and a new level of cooperation and coordination across business lines and functions. There is no singular approach to fit the needs of every business. Nevertheless, the consistent theme across functions, companies, and industries is the call to act.

This paper uncovers the primary operational challenges that companies face in implementing cloud metrics. It also provides a comprehensive implementation strategy consisting of seven steps for successful execution.

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