Empowering Financial Leadership to Drive Transformations Through Innovation

Financial leaders increasingly face the challenge of leading their organisations through a landscape of unexpected obstacles in today's constantly changing economic environment. The Chief Financial Officer's (CFO) function has grown far beyond traditional financial management to include a strategic mission to promote innovation, improve operational efficiency, and assure long-term sustainability.

The future of finance highlights the vital need for the transformation of basic financial activities. As Singapore's position as a global financial hub grows stronger, the challenges for its public sector and businesses have never been higher. Inadequate financial management methods are widely seen as significant hurdles to operational and strategic efficiency in many industries, forcing a transition to more flexible, data-driven approaches.

Singaporean organisations face significant hurdles due to outdated systems and procedures that are unable to satisfy current business requirements. These difficulties make it difficult to manage high transaction volumes and adjust to complex trading patterns, as they lead to delays in trading and clearing procedures. These inefficiencies highlight the critical necessity for a thorough revision of all financial management procedures.

Outdated financial management systems in Singapore's public sector and corporations affect the entire landscape rather than simply individual organisations. These outdated systems result in fragmented financial data, making it difficult to plan strategically or make informed judgements. Errors, delays, and increased risks become the norm when effective integration and automation are not implemented. As regulatory expectations increase, these organisations must modernise their financial systems and adopt more agile, data-driven processes.

Overcoming the critical challenges of outdated financial management systems among Singapore’s public sector and enterprises requires the urgent adoption of cloud-based Enterprise Resource Planning (ERP) and Enterprise Performance Management (EPM) solutions.

How Can Cloud-based ERP and EPM Solutions Turn Around Poor Financial Performance?

Planning and Forecasting: By automating manual procedures and integrating data from throughout the organisation, cloud-based EPM solutions improve planning and forecasting. With real-time insights and standardised inputs, firms may increase forecasting accuracy by switching from intricate spreadsheets to a single platform. This change lowers errors, boosts consistency, and helps teams make data-driven decisions more quickly, leading to more accurate financial projections.

Empowering Financial Planning: These technologies transform financial planning by combining historical data, budgets, and projections into unified models. This integration enables exact trend analysis and risk assessment while minimising errors and inefficiencies through automated data aggregation. Real-time data keeps financial insights current, allowing for faster and more strategic decision-making. Furthermore, automating difficult calculations and consolidations improves data processing efficiency, allowing finance teams to focus on strategic projects and increasing agility in a changing business environment.

Maximising Efficiency and Effectiveness with Automation: Automating financial procedures dramatically improves efficiency and effectiveness. Employees can devote more time to strategic activities that drive corporate success by removing regular duties like data collection and consolidation. The automation of forecasting models and reporting simplifies operations, allowing for better decision-making and planning. Continuous updates and predictive analytics from cloud solutions provide flexible forecasting and rapid adaptation, benefiting all stakeholders by increasing overall efficiency and speeding up planning procedures.

The session will allow delegates to:

• EMBRACE the future by understanding how cloud-based ERP and EPM solutions are transforming financial operations across Singapore's public and enterprise sectors
• EXPLORE how these advanced solutions streamline forecasting, enhance accuracy, and enable real-time decision-making, all of which are crucial for maintaining Singapore's competitive edge
• UNDERSTAND how integrated data management and automation are revolutionising financial planning, allowing teams to shift focus from manual tasks to strategic growth initiatives
• DISCOVER effective strategies for overcoming outdated systems and manual inefficiencies, thereby enhancing efficiency and agility in financial operations

Who should attend

• Chief Financial Officers 
• Heads of Finance Planning 
• Heads of Finance Transformation 
• Heads of Budgeting  

Host or Publisher OpenGov Asia