Meeting the unique ERP software needs of “The Visionary” CFO
In our past several blogs we’ve taken a close look at the different CFO leadership styles identified in our 2015 survey conducted by Redshift Research Ltd. We’ve explored each type’s strengths and weaknesses, their approach to technology, how they make decisions, and the ERP solutions that can help them become better decision-makers. In our final blog in this series, we examine the Visionary CFO style and the ERP solution that will best serve them.
The Visionary: Grand ideas, but missing details
The Visionaries, which make up 9% of CFOs, are the most flexible CFO type. Unafraid to work outside of existing systems, they use their intuition, creativity, experience, and flexibility to make the best decisions for their organisations. They value the timeliness of information and aspire to leverage the power of team-based decision-making.
Visionaries also accept the need for change in their IT systems—in fact, 41% believe their systems need updating (vs. 32% of their peers) and 27% believe that they ought to invest in a new system soon (vs. 17% of their peers).
On the downside, these creative CFOs gloss over details when exploring new business propositions. It appears that working outside of existing systems may cause them to miss important data and risk making decisions that aren’t supported by hard facts. And about a quarter of them are worried about not having the time or resources to produce meaningful insight.
Need strong social collaboration tools and timely data
Because Visionaries value team-based decision-making, and may struggle to use what data they have to gain insight into their business, it’s critical that their ERP solution facilitates effective collaboration with colleagues. They need an ERP platform that provides robust and engaging social collaboration tools that ensure Visionaries’ ability to quickly and easily collaborate with others, and thus gain access to the timely data they need to make more informed and insightful decisions.
As we’ve discovered in this blog series, Epicor ERP is well equipped to support the six main leadership styles of CFO, helping each play to their strengths and mitigate the risks that contribute to poor decision-making. Whatever your leadership style is, Epicor ERP can help ensure that you make the smartest, fastest decisions possible to drive profit and growth for your organisation.
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