At RVNA Technologies, we've conducted numerous assessments for organizations across industries to evaluate and optimize the systems supporting their CFO functions. While every client environment presents unique opportunities for improvement, over time, consistent patterns have emerged.
Here are the Top 10 Common Issues we’ve captured across a wide range of CFO system reviews — and what they mean for your organization’s future success.
The most frequent and impactful challenge we encounter is data fragmentation. In many organizations, Finance, Accounting, IT, and Operations have deployed separate, disconnected systems.
Implement a centralized data hub strategy that consolidates and harmonizes critical financial and operational data across the enterprise.
With the rise of SaaS solutions, it’s easier than ever for departments to independently purchase their own tools. Unfortunately, this often results in duplicate functionality across Finance, Accounting, Treasury, and Operations.
Rationalize the technology stack and consolidate overlapping systems to reduce costs, simplify operations, and improve enterprise collaboration.
Payroll is typically one of the largest costs for any organization, yet many teams are bogged down with repetitive manual tasks.
Automate repetitive processes to free up staff for higher-value, strategic activities — not to eliminate staff, but to maximize their impact.
When Finance teams are overwhelmed by manual tasks and constant firefighting, they lack the bandwidth to support the business strategically.
Shift finance from a back-office function to a true business partner role through automation, system integration, and strategic process redesign.
Without a defined enterprise architecture strategy, organizations risk building a patchwork of disconnected systems, creating easy entry points for cybersecurity threats.
Adopt an enterprise-grade architecture and centralized security governance to safeguard sensitive financial and operational data.
Another recurring issue is Finance teams creating budgets, forecasts, and strategic plans in isolation, without involving key business stakeholders.
Adopt a collaborative, enterprise-wide planning approach where all stakeholders contribute to the budgeting and forecasting process.
Despite technological advances, many enterprises still rely heavily on Excel to manage critical business processes like FP&A.
Transition from Excel-based processes to a modern corporate performance management (CPM) platform that provides workflow, centralized data, security, and audit capabilities.
Far too often, companies push legacy, outdated systems well beyond the point where they add real value. While replacing core enterprise systems too frequently isn't practical, keeping a 10+ year-old solution in place simply for comfort is not a sound business strategy.
Continuously evaluate your technology landscape and modernize when systems can no longer deliver a strategic advantage, not just when they "break."
Many organizations still hold onto homegrown solutions long after they have outlived their usefulness. While building custom tools once made sense for niche needs, modern requirements often demand more advanced, scalable, and secure systems.
Stick to your core business. Leverage proven, commercial software solutions instead of trying to maintain custom-built applications that drain resources and limit growth.
Another hidden but costly mistake we encounter is companies clinging to a system that was recently purchased, even if it’s clearly a suboptimal fit.
Don’t let sunk costs dictate your future. Have the courage to pivot when it's clear that a different, more capable solution will better serve your evolving needs.
At RVNA Technologies, we don't just identify issues — we deliver solutions. With deep expertise across Finance, Accounting, Operations, and Technology, we guide our clients through actionable transformation plans that drive efficiency, reduce risk, and unlock strategic potential.
Our proven assessment methodology ensures your organization isn’t just reacting to challenges — you’re building a smarter, more connected future.
While the challenges and recommendations outlined above are based on trends we consistently observe across organizations, it’s important to recognize that every client situation is unique. The recommendations shared here are generic in nature — they can absolutely work, but nuances specific to your environment, priorities, and goals must be considered to optimize your outcomes.
We strongly recommend engaging directly with our team, even if you recognize your organization in the challenges listed. A short conversation with RVNA Technologies can help fine-tune the right solution that is tailored to your specific needs, ensuring your path forward is as efficient, strategic, and impactful as possible.