What ERP solution works best for “The Traditionalist” CFO?
In our last blog, we talked about the importance of CFOs choosing an ERP solution that complements their specific leadership style in order to drive smart decision-making, profit, and growth. Research commissioned by Epicor shows that CFOs fall into six main types of financial decision makers (Traditionalists, Revolutionaries, Politicians, Carers, Conductors and Visionaries), each with its own distinctive approach to leadership and technology. Let’s look at the first type of CFO, The Traditionalist.
The Traditionalist: Impartial but inflexible
Accounting for just 9% of CFOs today according to the research, Traditionalists are known for their impartial nature—a strength which makes them the least likely to be influenced by personalities and politics when making decisions. Stereotypically strict about processes, they are often efficient administrators.
At the same time, Traditionalists are known to be inflexible and resistant to change. For example, only 14% of these CFOs believe that their IT systems need updating. Working with outdated technology can adversely affect the organisation’s ability to be agile and responsive to new opportunities which can help maintain a competitive edge. Traditionalists are also the least likely group to experience profit growth, compared to their more innovative, less traditional peers (56% vs. the average of 64% of their peers).
The best ERP solution for the Traditionalist
The best ERP solution for Traditionalists combine cutting-edge technology with user-friendliness, enabling these set-in-their-ways CFOs to benefit from new IT solutions that are easy to use from the start. It ensures that they are kept up-to-date with accurate data delivered in real time and in user-definable formats.
With the latest tools now at their disposal, Traditionalists can increase the potency of their decision-making without having to completely change their working style—something this CFO type appreciates.
In our next blog, we’ll look at The Revolutionary CFO type and explore which ERP works best for them.
Take our online quiz to find out which leadership style most closely matches the way you work and find out more in our ERP resource centre about how Epicor ERP can help you collaborate more effectively and make better decisions, faster.
Posted by Martin Hill, VP, International Marketing