What does data mean to you, as a Chief Financial Officer?
What does data mean to you, as a Chief Financial Officer? As CFO, gaining insights from data can support your decision making. Even though there is no one-size-fits-all approach to becoming a data-driven CFO, large-company CFOs have listed “providing information, analysis, and metrics” as their most-selected top-three challenge five times*[1].So let Kleene help you overcome the challenge. In this blog we’ll not only show what Kleene data means, but what Kleene data can do for you.
Kleene data gives you competitive advantage
With Kleene data, you will be able to identify where you could find new revenue streams, deliver personalised recommendations to customers, create efficiency and drive competitive advantages.
With all of your data in one place, you can also increase productivity, security and take advantage of the data to help you expand into new markets.
Amazing right? Let’s review in more detail what pains Kleene solves.
What pain does Kleene solve?
Better data quality and data access
Complete, reliable and thoroughly analysed data 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. If you are struggling accessing your data, Kleene does the job for you by gathering all the data and putting everything in only one place, so it is easier for you to access and export your data. Data democratisation means that everyone that needs to access business data, can - simply and quickly.
Kleene data delivers numbers and gives insights
Kleene produces timely, accurate reports from balance sheets to profit and loss (P&L) and cash flow statements. Taking the pain away from month end reporting and helping you be more proactive in decision-making, rather than waiting until the end of the month.
With Kleene data you will have complete visibility of all numbers that are accurate, rather than reconciling numbers from numerous sources. These principles should outline protocols for data ownership, quality, security, and accuracy. Good insights and strategies are born only from reliable and credible data analysis, and Kleene provides that.
Data reveals ROI
When it comes to allocating Marketing budgets, it’s often difficult as a 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. With Kleene you can be sure of the return on investment for your organisation.
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.
Automate financial reporting – remove manual tasks
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.
[1]*CFO Signals survey, U.S. CFO Program, 2Q2010-3Q2012 Deloitte LLP
