The role of the CFO or financial director has changed dramatically in recent years. The guardian of finance has become a strategist today, the challenges have changed. Today, the CFO is in the area of tension between risk, growth, big data and technology.
The good old credit report is outdated. Logically, it is one of the most important tasks of the CFO or financial director to identify risks and properly classify them worldwide. But today it is much more important to have a nose for growth and to recognize potentials with great accuracy.
Big data - or master data - is another CFO challenge. If he does not get along in the data jungle, he quickly loses his eye for the big picture, and above all for the important. It is also a vital necessity for companies that the CFO is able to take smart decisions.
Technology is the third big challenge. The CFO wants an enabler as a solution. But what begins with the requirements often ends in disillusionment in reality. However, finance departments agree that they are dependent on technology. It is inevitable that one day they will make serious mistakes. Not "if" but "when" is the question. Also, CFOs have neither the time nor the human resources for recurring, trivial tasks and to read and analyze endless reports.
The best data - in a smart packaging
Dun & Bradstreet has developed and launched the latest generation risk platform D&B Credit. D&B Credit is the direct answer to the changing role of the CFO and the challenges of big data, insights and technology
D&B Credit is designed to enable efficient work and save time. The search for companies, for example, is extremely fast. D&B Credit is also equipped with a notification system. Credit managers always receive a so-called notification if there is important information or a change in the customer portfolio. Repetitive reading of data is thus not required anymore.
Dun & Bradstreet continues to actively develop D&B Credit. There is a new release every three weeks, so customers benefit from a solution that is always up to date. Dun & Bradstreet develops D&B Credit very close to the customer. Feedback and wishes of the user directly influence the releases.
D&B Credit is based on data from Dun & Bradstreet. They comprise 265 million companies worldwide from 30,000 sources and with 5 million updates daily. This is the largest and most up-to-date business database in the world. Nobody has more and better data. D&B Credit users have access to the modern scoring models of Dun & Bradstreet and Family Trees. They show the ownership relations of companies and offer better chances for contract negotiations.
Taking smart credit decisions - this will probably be one of the most important reasons why companies use business data. D&B Credit can do much more. CFOs realize cross-border risks at a glance. But it also easily shows the potentials a customer profile has to offer. The analysis of data is extremely efficient and therefore saves resources. D & B Credit clusters both risks and growth potentials, monitors the customer portfolio automatically and informs with a notification as soon as something worth knowing emerges.