In an era defined by rapid technological advancements and growing economic uncertainty, the Chief Financial Officer (CFO) role has evolved significantly. Today’s CFOs are expected to manage the organization’s finances and drive its strategic initiatives. This expanded role demands a focus on a range of priorities that blend traditional financial responsibilities with forward-thinking business strategies. Here, we delve into the top priorities currently shaping successful CFOs’ agendas across industries. Strategic planning and financial forecasting Strategic planning and accurate financial fore ..read more

Machine learning, artificial intelligence, foundation models, large language models (LLM), generative AI, general AI — many of these terms are becoming part of our modern vernacular.  While we’re focusing on these concepts in business and reading about them in the news, many of us are still looking to the future — for a revolutionary moment to come along in AI or for it to get just that little bit better. The latest advances in AI and machine learning mean we have many opportunities now to improve work and play. Specifically, reducing the resource burden of low-value or time-consuming tas ..read more

The successful design, development and deployment of your workload automation depends on strong internal communication. In this blog series, Newsday’s Sherwin Rubio follows up on his previous post to describe the ideal communication framework for developing automations using RunMyJobs by Redwood.  Effective implementation of any cross-functional IT initiative depends on seamless communication with business users. In my last blog post for the Automationist series, I introduced the concept of “The three Cs” — Context, Collaboration and Consolidation — as a framework for collecting and evalu ..read more

In finance, the efficiency and accuracy of record-keeping are paramount. Financial professionals and businesses continuously seek solutions that streamline their accounting processes, ensuring every transaction is recorded accurately and promptly. One critical tool in achieving such efficiency is using advanced journal entry templates. These templates simplify the recording process and enhance the consistency and reliability of financial data across the board. The role of journal entry templates in modern accounting Journal entry templates are essential in the realm of accounting, serving as a ..read more

Efficiency in manufacturing is straightforward: You need to produce more faster. But doing so while maintaining quality output can be a challenge.  Even with the best intentions and the latest technology, including SAP ERP and supporting applications, you could find several factors are working against you. These roadblocks can hinder production quality, ramp up costs and even lower customer satisfaction. Read on to learn about six common obstacles to optimal manufacturing efficiency and how to overcome them. 1. Manual processes and human errors Manual manufacturing processes are a liabili ..read more

The journey towards finance digital transformation is gaining momentum amongst finance leaders, even more so after the recent pandemic, to reshape and streamline how financial tasks, business processes and workflows are managed. At the heart of this transformation is integrating advanced digital technologies such as artificial intelligence, blockchain and automation innovations, replacing traditional processes with superior solutions and enhancing both the accuracy and efficiency of financial reporting. There are several benefits of achieving digital transformation of financial processes. Auto ..read more

During my almost 25-year tenure as an SAP employee, I attended over 20 SAP Sapphire events. This June’s SAP Sapphire 2024 in-person event in Orlando, Florida, was a unique experience, as I was there for the first time as part of an SAP partner team.  Redwood Software was a gold sponsor of this year’s events in Orlando and Barcelona and a 2024 Pinnacle Award winner. I witnessed a new level of enthusiasm from SAP customers to learn how to extend and optimize their investments in SAP with an established partner solution like Redwood. We had many great conversations at our booth about a range ..read more

Digital transformation in finance has set a new benchmark for operational efficiency, particularly in the realm of record to report (R2R) automation. As the financial landscape evolves, CFOs and finance professionals increasingly use automation tools and solutions to streamline business processes and enhance financial reporting. With the advent of technologies like artificial intelligence, blockchain, and fintech innovations, the R2R cycle is experiencing a seismic shift from traditional manual methods to streamlined, technology-driven processes. The shift from manual to automated processes In ..read more

While it may seem like so many functions are automated these days, that’s not the case in the finance world. Automation is not that common in many finance departments, even at some of the largest corporations in the world. According to Accenture, 80% of financial operations can be automated. That means your organization could free up significant employee time to focus on strategic initiatives, customer relationships and more impactful work. These automation solutions are available now to reshape your finance processes, drive operational efficiency to new heights and empower finance professiona ..read more

It’s late December 2022. Holiday cheer abounds, and New Year’s resolutions are in the making. The only places bustling more than malls are airports. When we travel around the holidays, most of us expect a certain amount of stress, and there’s always a risk of weather-related delays. With the impending “bomb cyclone,” Winter Storm Elliot, this period of 2022 was fraught with uncertainty for people on the move. Weathering two storms Starting on December 23, the powerful cyclone grounded more than 17,000 flights nationwide. Many airlines, including Delta, American and United, faced bottlenecks, a ..read more