Forrester has a trenchant new report detailing how the “Age of the Customer” is creating a new set of corporate finance fundamentals.
In enterprise back-office teams, three traditional priorities start with the letter “C”: cost, compliance, and control. These will remain finance’s priorities for many years to come.
But with the advent of the Subscription Economy, it is now time to add a fourth “C” to finance’s priority list: customer.
Why is the customer important to finance? Because that’s where the money comes from. As consumers we’ve all shifted our buying habits over the past few years from products to services, and now it’s time for your finance platform to change as well.
As new industries and revenue models shift into the Subscription Economy, application development and delivery (AD&D) professionals working on finance and operational systems must support the imperatives of winning, serving, and retaining customers with recurring revenue models.
In particular, AD&D pros must help finance transform the revenue stream to drive new growth by accelerating order-to-cash processes, measuring and forecasting business performance, and improving the customer experience from a financial perspective.
Highlights of Forrester’s excellent new report by industry expert Paul Hamerman include:
- The 4 key challenges of traditional, ERP-based finance engines.
- Growth versus profits: Balancing stakeholder demands against customer-centric goals
- Five transformational strategies for finance to drive growth in the digital age
- Gaining revenue predictability with recurring and subscription models