{"id":10110,"date":"2021-09-17T16:02:42","date_gmt":"2021-09-17T15:02:42","guid":{"rendered":"https:\/\/www.sage.com\/en-gb\/blog\/?p=10110"},"modified":"2026-01-29T11:29:25","modified_gmt":"2026-01-29T11:29:25","slug":"sustainable-growth-financial-services-firms","status":"publish","type":"post","link":"https:\/\/www.sage.com\/en-gb\/blog\/sustainable-growth-financial-services-firms\/","title":{"rendered":"4 ways finance leaders in financial services firms can drive sustainable growth with data"},"content":{"rendered":"<header class=\"entry-header has-dark-background-color entry-header--has-illustration entry-header--has-illustration--generic\">\n\t<div class=\"container\">\n\t\t<div class=\"entry-header__row row align-center\">\n\t\t\t<div class=\"col col-lg-7 col-xlg-6 entry-header__content\">\n\t\t\t\t\t\t\t<div class=\"component component-single-header\">\n\t\t\t\t\t\t\t\t\t\t<div class=\"entry-header__misc text--subtitle text--uppercase text--small\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-gb\/blog\/category\/money-matters\/\" class=\"entry-header__link\">Money Matters<\/a>\t\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t<div class=\"entry-title-wrapper\">\n\t\t\t\t\t<h1 class=\"entry-title\">\n\t\t\t\t\t\t4 ways finance leaders in financial services firms can drive sustainable growth with data\t\t\t\t\t<\/h1>\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t<p class=\"entry-header__description\">\n\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n\t<div class=\"single-post-details container\">\n\t\t<div class=\"col\">\n\t\t\t<span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2021-09-17T16:02:42+01:00\">17 September, 2021<\/time><\/span><span class=\"reading-time\"> min read<\/span>\n\t\t<button\n\t\t\ttype=\"button\"\n\t\t\tclass=\"social-share-button button button--icon button--secondary js-social-share-button\"\n\t\t\tdata-share-title=\"4 ways finance leaders in financial services firms can drive sustainable growth with data\"\n\t\t\tdata-share-url=\"https:\/\/www.sage.com\/en-gb\/blog\/sustainable-growth-financial-services-firms\/\"\n\t\t\tdata-share-text=\"Please read this interesting article\"\n\t\t>\n\t\t\t<span class=\"social-share-button__share-label\">Share<\/span>\n\t\t\t<span class=\"social-share-button__copy-label\" hidden>Copy Link<\/span>\n\t\t\t<span class=\"social-share-button__copy-tooltip\" aria-hidden=\"true\" hidden>Copied<\/span>\n\t\t<\/button>\n\n\t\t\t\t<\/div>\n\t<\/div>\n<\/header>\n\n\n\n<div class=\"wp-block-post-author has-dark-background-color alignfull\">\n\t<div class=\"container\">\n\t\t<div class=\"col\">\n\t\t\t\t\t\t\t<div class=\"co-authors\">\n\t\t\t\t\t\n\t\t<div class=\"entry-author-wrapper\">\n\t\t\t<a class=\"entry-author\" href=\"https:\/\/www.sage.com\/en-gb\/blog\/author\/ruhulmoksud\/\">\n\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"40\" height=\"40\" src=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2020\/04\/Ruhul-Moksud-350x350.jpg\" class=\"entry-author__image\" alt=\"Ruhul Moksud\" srcset=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2020\/04\/Ruhul-Moksud-350x350.jpg 350w, https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2020\/04\/Ruhul-Moksud.jpg 600w\" sizes=\"auto, (max-width: 40px) 100vw, 40px\" \/>\t\t\t\t<span class=\"entry-author__name\">Ruhul Moksud<\/span>\n\t\t\t<\/a>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n<div class=\"sage-block-classic-wrapper\">\n\n<p>With the evolution of technology comes the evolution of the chief financial officer.<\/p>\n<p>When it comes to the world of finance, the term \u2018<a href=\"https:\/\/www.sage.com\/en-gb\/blog\/professional-services-firms-adopt-digital-transformation\/\">digital transformation<\/a>\u2019 has become a part of the everyday conversation surrounding success in the industry.<\/p>\n<blockquote>\n<p>More than two thirds of CFOs (70%) said they had full responsibility for digital transformation in their organisation \u2013\u00a0<a href=\"https:\/\/www.sage.com\/en-gb\/cfo\/\">CFO 3.0: Digital transformation beyond financial management<\/a><\/p>\n<\/blockquote>\n<p>As companies clamour to boost efficiency while cutting costs, the role of CFO is increasingly data-driven and focused on analytics, moving beyond financial management to be a technology futurist.<\/p>\n<p>This is Financial Leadership 3.0.<\/p>\n<p>Read on to find out how you can save time and use valuable data to add even more value to your business in 2021 and beyond.<\/p>\n<p>Here&#8217;s what we cover:<\/p>\n<p><a href=\"#embrace-anchor-link\">1. Embrace automation<\/a><\/p>\n<p><a href=\"#revel-anchor-link\">2. Revel in real-time reporting<\/a><\/p>\n<p><a href=\"#tap-anchor-link\">3. Tap into improved analytics<\/a><\/p>\n<p><a href=\"#dig-anchor-link\">4. Dig into role-based dashboards<\/a><\/p>\n<div class=\"single-cta\">\n\t<a\n\t\tclass=\"button button--primary gate-9ff064c7-c6b7-4cb3-abe4-42452d9d5586\"\n\t\trole=\"button\"\n\t\tdata-button-location=\"content_area\"\n\t\thref=\"#gate-9ff064c7-c6b7-4cb3-abe4-42452d9d5586\"\n\t>Download your free copy of Success guide for financial leaders in financial services<\/a>\n<\/div>\n\n<h2 id=\"embrace-anchor-link\">1. Embrace automation<\/h2>\n<p>Artificial intelligence (AI) and automation present opportunities when budgets are tight.<\/p>\n<p>Repetitive tasks \u2013 from chasing invoices to handling payroll and expenses management \u2013 can be automated, freeing up your <a href=\"https:\/\/www.sage.com\/en-gb\/blog\/finance-teams-automation-save-time\/\">finance team<\/a> to work on strategy rather than tedious admin and data entry.<\/p>\n<p>A significant amount of time and resources can be saved through automation, which eliminates manual data entry and spreadsheets to close the books faster.<\/p>\n<h3>Key tasks your finance team can automate<\/h3>\n<ol>\n<li>Job costings<\/li>\n<li>Data collection<\/li>\n<li>Invoicing<\/li>\n<li>Payment collection<\/li>\n<li>Credit control<\/li>\n<li>Reconciliation<\/li>\n<\/ol>\n<h2 id=\"revel-anchor-link\">2. Revel in real-time reporting<\/h2>\n<p>Did you know <a href=\"https:\/\/www.sage.com\/en-gb\/blog\/bobby-lane-changing-landscape-cfos\/#gate-6e85314a-0321-4aa9-bcd6-7195a54c923b\">51% of CFOs<\/a> say thinking of new ways to help their business financially is the most challenging aspect of their job?<\/p>\n<p>Few industries move faster than finance.<\/p>\n<p>Decisions need to be made and ideas need to be generated to keep costs down and efficiency up.<\/p>\n<p>Real-time reporting makes it possible for CFOs to respond to ever-changing conditions proactively and with more precision than ever before. It also impacts your accounting teams and wider management, who need a high-level view of financial health to <a href=\"https:\/\/www.sage.com\/en-gb\/blog\/power-of-data-business-decisions\/\">make better decisions<\/a>, faster.<\/p>\n<h3>Benefits of real-time reporting<\/h3>\n<ul>\n<li>Granular view of how the organisation is doing<\/li>\n<li>Quicker detection of fraud and human error<\/li>\n<li>Increased accuracy of predictions and forecasts<\/li>\n<li>Better-informed business decisions<\/li>\n<\/ul>\n<h2 id=\"tap-anchor-link\">3. Tap into improved analytics<\/h2>\n<p>While trusting your instincts remains a vital part of any finance role, data has completely transformed the way we make business-critical decisions.<\/p>\n<p>Through AI and automation, you help your organisation strengthen connections with customers, build better relationships with their teams, and plot a course for a successful future for their business.<\/p>\n<blockquote>\n<p>Data and analytics are the key accelerant of an organization\u2019s digitisation and transformation efforts.\u201d &#8211; <a href=\"https:\/\/www.gartner.com\/smarterwithgartner\/why-data-and-analytics-are-key-to-digital-transformation\/\">Gartner<\/a><\/p>\n<\/blockquote>\n<p><a href=\"https:\/\/www.sage.com\/en-gb\/blog\/big-data-predictive-analytics\/\">Predictive analytics<\/a> can help you understand data more effectively.<\/p>\n<p>Predictive analytics use machine learning together with data mining techniques and modelling to make more accurate predictions based on historical information.<\/p>\n<p>By tapping into <a href=\"https:\/\/www.sage.com\/en-gb\/sage-business-cloud\/intacct\/\">cloud technology<\/a>, you can collect and collate this data from different areas of the business into one clear view.<\/p>\n<h2 id=\"dig-anchor-link\">4. Dig into role-based dashboards<\/h2>\n<p>A successful business isn\u2019t built on rapid growth, but sustainable growth.<\/p>\n<p>To do that, you need decisions backed by data. That\u2019s where business intelligence comes in, empowering CFOs to identify fresh opportunities for growth and innovation.<\/p>\n<p>When it comes to business intelligence, you need quick access to dashboards and reports tailored to your role.<\/p>\n<p>These can be auto-generated using cloud technology, providing role-specific visibility on figures as and when they\u2019re needed across the company.<\/p>\n\n<div class=\"single-cta gated-content\">\n\t<div class=\"single-cta__positioner\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">Success guide for financial leaders in financial services <\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p>Discover how you can drive strategy and performance at your financial services firm with data-driven decision-making.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"#gate-9ff064c7-c6b7-4cb3-abe4-42452d9d5586\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t>Download your free guide<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"1440\" height=\"810\" src=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/04\/GettyImages-643644406-1440x810.jpg\" class=\"single-cta__image\" alt=\"Working on business accounts\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/04\/GettyImages-643644406-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n\n<\/div>\n<div class=\"single-cta\">\n\t<div class=\"single-cta__positioner\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">Subscribe to the Sage Advice newsletter<\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p>Join more than 500,000 UK readers and get the best business admin strategies and tactics, as well as actionable advice to help your company thrive, in your inbox every month.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"#gate-b1a63862-3fa0-4a5e-bb67-c76b88bbc6b8\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t>Subscribe now<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"1440\" height=\"810\" src=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/04\/GettyImages-1073797282-1-1440x810.jpg\" class=\"single-cta__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/04\/GettyImages-1073797282-1-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Want to drive sustainable growth? Discover how you can use data to make that a reality for your financial services firm.<\/p>\n","protected":false},"author":1027,"featured_media":9091,"menu_order":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sage_video":false,"post_featured_image_hide":false,"footnotes":""},"categories":[6],"tags":[135,168,126,145,159],"business_type":[3],"lilypad":[],"context":[],"industry":[],"persona":[68,71],"imagine_tag":[169,89,96],"coauthors":[521],"class_list":["post-10110","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-money-matters","tag-business-finances","tag-cfo-3-0","tag-data-analytics","tag-digital-transformation","tag-midsized-business","business_type-medium-sized-business"],"sage_meta":{"region":"en-gb","author_name":"Ruhul Moksud","featured_image":"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2021\/04\/Khumalo-Mabuya-Chattered-Accountants_2019_Sage-Accounting_11.jpg","imagine_tags":{"169":"CF0 3.0","89":"Financial services","96":"Medium businesses"}},"distributor_meta":false,"distributor_terms":false,"distributor_media":false,"distributor_original_site_name":"Sage Advice UK","distributor_original_site_url":"https:\/\/www.sage.com\/en-gb\/blog","push-errors":false,"_links":{"self":[{"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/posts\/10110","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/users\/1027"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/comments?post=10110"}],"version-history":[{"count":0,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/posts\/10110\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/media\/9091"}],"wp:attachment":[{"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/media?parent=10110"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/categories?post=10110"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/tags?post=10110"},{"taxonomy":"business_type","embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/business_type?post=10110"},{"taxonomy":"lilypad","embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/lilypad?post=10110"},{"taxonomy":"context","embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/context?post=10110"},{"taxonomy":"industry","embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/industry?post=10110"},{"taxonomy":"persona","embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/persona?post=10110"},{"taxonomy":"imagine_tag","embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/imagine_tag?post=10110"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/coauthors?post=10110"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}