Big Data is everywhere, especially within finance. Every finance department is sitting on a wealth of valuable customer information. At Order2Cash we feel strongly that the many touchpoints that occur within the order to cash cycle can provide key insights into customers and their payment behavior. Also, we would like to see that data being used to monitor and benchmark the health of existing business relationships. It can also be used to inform new policy and strategy decisions for the business as a whole. We believe strongly that CFO’s and financial leaders need to start mining that information and begin to exploit the power of the data at their disposal.
To expand upon this, we’ve recently published an article in tandem with Raconteur that discusses the topic.
“Get it right and data will ensure the finance director continues to hold a critical strategic position at the heart of the business.”