Prepare a data foundation that is ready for anything

To start, CFOs can establish a finance data foundation with the ability to hold significant amounts of detailed data – ensuring they can retain key data attributes if and when they are needed for new regulatory or management reporting requirements. This can be done with a finance management platform that can support data granularity separate from the General Ledger and ERP environment.

Additionally, an open, modular architecture can help provide finance teams the ability to integrate with specialist solutions from niche providers. For example, ESG data models, calculation engines, or AI tools should be able to easily integrate with an established data foundation to ensure consistency in reporting.