PLEASANTON, Calif., July 19, 2018 (GLOBE NEWSWIRE) -- Workday, Inc. (NASDAQ:WDAY), a leader in enterprise cloud applications for finance and human resources, today released the results of a new global survey, “Finance Redefined,” which reveals that efforts to digitally transform the finance function have not advanced enough, requiring finance leaders to redefine their approach to resilience, intelligence, leadership, and talent, in order to become more analytical and innovative.
The research shows that to reach its true potential, finance needs to invest in the people and capabilities required to deliver strategic insight to drive decision making. Yet, the findings indicate that many corporate finance functions are unable to deliver this insight due to difficulty integrating finance and non-finance data, lack of relevant skills within finance teams, and ineffective collaboration among C-suite peers on data-driven decision making.
“The world of business is only getting more complex, dynamic, and competitive. The time is now for finance leaders to focus on redefining their function across several key areas to continue driving business growth and lead in the increasingly digital economy,” says Betsy Bland, vice president, financial management corporate strategy, Workday. “This requires finance to invest in cultivating the right skills, bridging better connections to other leaders, and pushing the boundaries of technology to break down data silos and outpace the competition.”
The corporate finance survey was done in partnership with Longitude Research and includes responses from more than 670 finance leaders across the Americas, Europe, Asia Pacific, and South Africa. Key survey findings within the four areas of resilience, intelligence, leadership, and talent include:
Download a full copy of the survey here.
Methodology
The study surveyed more than 670 global finance leaders to get their perspectives on the future of the finance function and finance leadership. More than one-third (38 percent) came from large organizations of more than $1 billion annual revenues, with 35 percent between $500 million and $1 billion, and 27 percent between $250 million and $500 million.
More than one-third of respondents were CFOs, finance directors, or chief accounting officers/controllers. The remaining were drawn from senior finance roles, such as head of Financial Planning and Analysis or vice president of Financial Operations.
About Workday
Workday is a leading provider of enterprise cloud applications for finance and human resources. Founded in 2005, Workday delivers financial management, human capital management, and analytics applications designed for the world's largest companies, educational institutions, and government agencies. Organizations ranging from medium-sized businesses to Fortune 50 enterprises have selected Workday.
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Workday
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