When considering an investment in a financial accounting solution that can support the objectives of managing both core and strategic financials, there are several key criteria to keep in mind. These criteria must be addressed to ensure that the accounting software matches the needs and requirements of a dynamic, enterprising firm that aspires to growth and is capable of continuous change::

Seven selection criteria were ranked in terms of importance in a study by CIMA. It is clear that the individual’s personal characteristics rather than their experience or education dominate. This does not mean that personal characteristics alone are sufficient to merit recruitment, however.

In order to address objectives around both core and strategic financials, CFOs should look to Corporate Finance Management (CFM) as a proven solution. CFM is an integrated approach that combines flexible transaction processing and other core applications with the real-time reporting, analysis and planning capabilities necessary to strategically guide an enterprise.

In a study by the Chartered Institute of Management Accountants (CIMA), different types of training and development methods were ranked according to how useful each one was rated by senior finance professionals. The top 4 useful types were “learning through doing”, followed by “external training courses supported by the organisation”, “external continuing professional development supported by the organisation”, and “in-house education and training face-to-face”.