{"id":485,"date":"2020-08-03T13:17:28","date_gmt":"2020-08-03T13:17:28","guid":{"rendered":"http:\/\/www.saturotech.com\/blog\/?p=485"},"modified":"2024-03-18T19:37:12","modified_gmt":"2024-03-18T19:37:12","slug":"cfos-significance-of-oracle-netsuite-cloud-erp","status":"publish","type":"post","link":"https:\/\/saturotech.com\/blog\/cfos-significance-of-oracle-netsuite-cloud-erp\/","title":{"rendered":"CFO\u2019s Significance for Oracle NetSuite Cloud ERP"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"614\" height=\"346\" src=\"https:\/\/www.saturotech.com\/blog\/wp-content\/uploads\/2020\/08\/image-2.png\" alt=\"Oracle NetSuite ERP\" class=\"wp-image-488\" srcset=\"https:\/\/saturotech.com\/blog\/wp-content\/uploads\/2020\/08\/image-2.png 614w, https:\/\/saturotech.com\/blog\/wp-content\/uploads\/2020\/08\/image-2-300x169.png 300w\" sizes=\"auto, (max-width: 614px) 100vw, 614px\" \/><\/figure>\n\n\n\n<p>Over the years,\nthe job role of the CFO in organizations has continued to evolve. Depending\nupon the organizational size, the CFOs are expected to perform more tasks than\njust the accounting, tax liability, and funding when they are leading a small\n&amp; mid-sized company. This indeed, adds more business operational\nresponsibilities along with the opportunities. <\/p>\n\n\n\n<p>As a result,\nthey need to play a vital role in accelerating the business growth of their\norganization and at the same time, maintaining financial sustainability. The\nchanging regulations enable the CFOs to take broader responsibilities beyond\nthe legacy operations. This adds excess challenges while managing the financial\noperations and some of the key concerns that the CFOs do come across are like:<\/p>\n\n\n\n<p><strong>Challenges<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Too Many Responsibilities (38%)<\/li><li>Managing the Cash Flow (34%)<\/li><li>Lack of Accessibility to\nreal-time authentic information (29%)<\/li><li>Managing the Fast Growth (27%)<\/li><li>Maintaining the Quality\nWorkforce (25%)<\/li><\/ul>\n\n\n\n<p>Since the CFOs\nare accountable for the strategic direction of the company, they are\nresponsible for multiple operations that they need to perform regularly. Some\nof the key responsibilities are as follows:<\/p>\n\n\n\n<p><strong>Responsibilities<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Forecasting\/predictive insights<\/li><li>Company Budgeting<\/li><li>Auditing &amp; Reporting<\/li><li>Strategic Planning<\/li><li>Working Capital Management<\/li><\/ul>\n\n\n\n<p>Following to the multi-responsibility roles, CFOs also need to maintain the healthy cash flow in the business by using some smart techniques such as the inclusion of new revenue models, tight budgeting, automated invoicing, and sometimes onboarding a dedicated collections team. To adhere to the responsibilities and to overcome the challenges, the majority of the CFOs prefer to take the help of modern technologies such as the Internet of Things (IoT), Blockchain, Cryptocurrency, Artificial Intelligence (AI) &amp; Machine Learning (ML). The solutions which have a blended combination of the technology and the organizational process adaptability gives the best results for financial operations. As modern enterprise resource planning applications are smartly using the AI &amp; ML platforms, 52% CFOs are preferring the ERP software as the driving force for their organizational growth. <\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"555\" height=\"275\" src=\"https:\/\/www.saturotech.com\/blog\/wp-content\/uploads\/2020\/08\/image.png\" alt=\"NetSuite financial \" class=\"wp-image-486\" srcset=\"https:\/\/saturotech.com\/blog\/wp-content\/uploads\/2020\/08\/image.png 555w, https:\/\/saturotech.com\/blog\/wp-content\/uploads\/2020\/08\/image-300x149.png 300w\" sizes=\"auto, (max-width: 555px) 100vw, 555px\" \/><\/figure>\n\n\n\n<p>According to the\nleading CFOs around the globe, the Oracle NetSuite is considered as one of the\nmost trusted Cloud ERP application. Since it provides all the essential finance\nKPIs such as Day Sales Outstanding, Operating Cash Flow, Revenue, income or\nsales growth, operating or gross margin, etc. the entire financial aspects of\nthe organizations are completely covered. The common concerns like application\nsecurity, upfront ROI, system connectivity, business adaptability are\neliminated by the NetSuite ERP.<\/p>\n\n\n\n<p>As tops success measures for any CFO are about having the growing revenue, income, and sales along with the operating or gross margin, operating cash flow and customer satisfaction, the constant upgrading technology platforms like Oracle NetSuite benefit the company by achieving these measures. Also, the external challenges such as cyber-attacks, the security of the data, payment fraud, etc. are eliminated by the Oracle NetSuite, helping the CFOs in handling their responsibilities with grace.<\/p>\n\n\n\n<p><strong>Contact us for free ERP consultation &amp; Demo.<\/strong><\/p>\n\n\n\n<p><strong>Website-&nbsp; <\/strong><a href=\"http:\/\/saturotech.com\/\">https:\/\/saturotech.com<\/a><\/p>\n\n\n\n<p><strong>Email ID-&nbsp; <\/strong><a href=\"mailto:info@saturotech.com\">sales@saturotech.com<\/a><\/p>\n\n\n\n<p><strong>Call us on: +91 844-844-8939<\/strong> <strong>and press 3<\/strong><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Over the years, the job role of the CFO in organizations has continued to evolve. Depending upon the organizational size, &hellip; <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-485","post","type-post","status-publish","format-standard","hentry","category-cloud-computing"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Significance for Oracle NetSuite Cloud ERP<\/title>\n<meta name=\"description\" content=\"Over the years, the job role of the CFO in organizations has continued to evolve. 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