Warning: long term use of Excel is lethal for CFOs trying to make data-driven decision-making. Discover how Excel can’t excel when it comes to managing data and what can be done about it. The troubles with Excel are only beginning. Excel not only caps out at a million records, but it also rounds off large numbers using imprecise calculations which compromises the accuracy of your data. Excel is a single-user system. That means it only allows one person to input data at a time. There’s a high chance that someone entering the data does it without regard for storage, backup, and processing best ...

Instead of using historical sales data, CFOs making financial transformations are shifting to driver-based forecasting. In the Australian construction industry alone, market conditions have moved so quickly in the last 24 months, that history can no longer be trusted to tell the future. In the Australian construction industry alone, market conditions have moved so quickly in the last 24 months, that history can no longer be trusted to tell the future. Forecasting P+L and balance sheets based on actuals and historical data is proving less reliable. The historical data can’t capture the market ...

Australian construction companies that will thrive during the recent consolidation will blend corporate strategy and digital analytic strategy. CFOs will move away from traditional models to adopt digital strategic planning models that rely on data insights while making decisions. Aspen Medical CFO, Moazam Shah, noted some of the key competencies for finance professionals to thrive in a digital world, including knowledge of digital technologies, ability to articulate their use to a wider audience in the business, an ability to learn and adapt to changes in technologies, and to a motivation to ...

Home Innovation Builders, Dyldam Developments, Hotondo Homes franchise, Tasmanian Constructions, ABD Group, BA Murphy, Pindan, and Inside Out Construction have all gone bust. It’s time CFOs from the construction embraced financial transformation. Construction giants like Probuild and Condev have collapsed. Many other construction companies are looking at downturns and the huge debt that’ll push them into a similar path to liquidation. Amendra Pratap, Managing Director at Octane, say: “The rate of construction companies falling and going bankrupt is at an all-time high. The major reason behind ...