Data Proof Your Finance Processes


Finance professionals play a vital role in driving business growth and strategy but many businesses underutilize finance resources because they are overloaded with inefficient finance processes.

Here are a few suggestions for how to measure ROI and effectiveness of your critical processes:

  • Define all your critical process and gain a clear understanding of how they impact your resources.
  • Document each step of the process including all related activities and who is doing what—visualizations and diagrams are often helpful.
  • Estimate and allocate a timeline for each step and person involved.
  • Benchmark the defined process data versus the actual activities over a month.
  • Draw data-driven conclusions: if ROI is satisfactory keep doing what we are doing, if the process needs improvement consider automation.   

Your critical processes are the lifelines of your business and any blockages cost you money. Contact us today to learn how we can help and data proof your finance process with StringData.

More Insights

Strategies to improve operational KPIs with technology

Every business is a snowflake, it is key to establish specific KPIs to measure, track, calculate and evaluate business performance.…

Read Story

Data-driven leaders should step back to see the bigger picture

The ways we interact with each other, consume information and purchase have all undergone dramatic changes due to Covid. Many…

Read Story

Providing finance professionals the data they need to tell their stories

Finance professionals love data! They love reports, dashboards, big data, what if scenarios and sales funnels. The more data they can…

Read Story