CFOs run companies using a data-driven strategy

Over the last few years, the role of the CFO has gone through a profound shift. CFOs of today and tomorrow must be able to leverage the financial data to influence operational decision making and strategy. 

The demands for accurate, timely and rich data are growing rapidly as organizations increase their usage of data to compete, improve and innovate profitability. It has been estimated in one of the surveys that the world generates around 2.5 quintillion bytes of data every day and 90% of the world’s data was created in the last two years only.

Therefore, organizations, nowadays are shifting their focus to data and becoming data-driven enterprises, i.e., cloud-enabled companies that can maximize the value of data and consider it as an asset distinguished by its lineage, quality and completeness.

Research conducted by Accenture says that Chief Financial Officers (CFOs) are being asked to help bring the data-driven strategy to the business and move the organization to the cloud.

CFOs are well-positioned to evaluate the financial impact of data-driven decisions and outline the monetized value of data to shareholders. They also help identify and verify the monetizable revenue streams of a business and implement data-driven processes.

Cloud-enabled data needs a new foundational framework for businesses to measure, monetize and manage information as an asset. CFO helps in evaluating various commercial models, applying the necessary governance and controls and thinking through the financial risks.

Therefore, it is crucial for CFOs to act as a custodian of digital information as the business becomes more dependent on deriving monetizable insights from data.

How can CFOs take their companies to the next level with the help of edge-to-cloud platforms?

Since CFOs are responsible for steering the data-driven journey, they must have a solution that eases their business processes and take their company to the next level.

CFOs want solutions that mitigate risk, optimize efficiency and cost and deliver quick insights while improving customer experiences.

Using a one-stop solution for modern CFOs who are looking to transform the business processes of their organizations and migrate to the cloud.

Maximizing the use of an edge-to-cloud platform brings the flexibility, pay-per-use financial model of the public cloud to your on-premises data and apps, improving the pace of business innovations while reducing costs.

Tapping into an IT infrastructure that delivers cloud-like agility and speed, allows you to focus on your bottom line as well as delivering value to customers

Following are some of the benefits of HPE Greenlake that CFOs can leverage to enable data-driven strategy:

• Eliminate over-provisioning  and eliminate the existing issues of customers buying excess storage, compute or networking capacity for on-premises solutions. It is easy to scale up and down capacity as business requires change. Every configuration has built-in buffer capacity and HPE tracks consumption so that additional resources can be added even before they are needed. Organizations can achieve 30-40% of capex savings with no overprovisioning. Since HPE is responsible for managing the infrastructure, you can ask your IT teams to spend more time on new innovations instead of controlling the infrastructure.
• Secure data and workloads on-premises. With the agility of the cloud, our products offers the performance and security of the on-premises infrastructure. You can also manage enterprise-wide governance with optional compliance services that provide remediation recommendations and real-time monitoring.

• Optimize costs and efficiency by using a pay-per-use model that helps organizations free up the cash flow for transformation projects and enhances the bottom line on the balance sheet. Our products have a built-in management and monitoring services empower your IT resources to be more productive. The consumption-based model reduces operational and support fees and dynamically manage resources with greater certainty.

Our products have a built-in management and monitoring services that empower your IT resources to be more productive.

What are the key pain points for CFOs?

Below are the key CFO pain points that HPE Greenlake has addressed:

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• Most businesses lack agility because of technological limitations, for example, storage procurement.
• High costs due to overprovisioning storage and server. These costs include both higher support costs and initial capital costs.
• Increased pressure to reduce IT budgets and headcounts. Most firms cannot afford to dedicate resources to routine maintenance and support activities.[/box]

Our firm overcomes all the above problems and helps CFOs in moving the business processes to the cloud seamlessly via : pay-per-use, self-serve, scale up and down to apps and data everywhere in edges, data centers and co-locations.

 

[author title=”Author” image=”http://”]Nilotpal Kumar Dutta, Director, India – GreenLake Cloud Services, Hewlett-Packard Enterprise[/author]

 

Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of the Economic Times – ET Edge Insights, its management, or its members