2022 Strategic Finance Benchmark Survey demonstrates a shift
Vena was launched over a decade ago with the vision of combining the familiarity of Excel and other Microsoft Office Applications into a robust Financial Planning and Reporting Platform. Given Vena’s success, they now have tens of thousands of finance and accounting users accessing their system on a regular basis.
Vena’s access to a large community of corporate finance and accounting professionals has enabled them to secure statistically significant survey results on their annual benchmark report. This report provides timely insights on the status of strategic finance across industries during this year's economic headwinds.
Respondents to this survey fell into the following company sizes
- 24% of respondents from companies with over 1,000 employees
- 20% of respondents from companies 501-999 employees
- 39% of respondents from companies 101-499 employees
- 17% of respondents from companies with under 100 employees
Survey results correspond to the following industries:
- 13% Software and Technology
- 12% Manufacturing and transportation
- 11% Healthcare
- 11% Professional Services
- 7% Not-for-Profit
- 6% Banking, credit unions, and insurance
- 40% other
The main findings of this year’s reports are indications of a continued trend of finance having a seat at the table to help guide and formulate enterprise strategies. This trend is important because it goes directly to the skillset finance professionals of the near future must possess to operate successfully in the new era of strategic finance. Personal skills like storytelling and the ability to build interpersonal relationships across the enterprise will become more important than ever before. This means that while the quantitative skills required to succeed in finance are not slowing down there are new qualitative skills that are quickly becoming the norm.
The qualitative value provided by Finance to business leaders falls into these primary categories:
- 42% influence on day-to-day business decisions and operations
- 40% building relationships with key stakeholders
- 38% enabling cross-functional collaboration and insights
Quantitative value includes magnifying financial tools and metrics across the enterprise including:
- 50% costs and margins
- 34% revenue growth
- 27% operating risk
- 27% financial risk
RVNA Technologies partners with Vena and other innovative software vendors to bring amazing FP&A solutions to CFOs and their teams.
Learn more about RVNA’s capabilities at rvnatech.com.