We are living in a world of change and uncertainty. In 2014, Harvard Business Review published research that showed that uncertainty has increased in the last 50 years, and that some industries are more affected by it. Of the top ten industries facing the most uncertainty, eight are manufacturing industries.
There is a military term now used by business to characterize the challenges of change – VUCA – which was discussed in a previous blog post. VUCA stands for Volatility, Uncertainty, Complexity and Ambiguity. Another acronym (also originating from the military) provides guidance on how to deal with a VUCA world.
In the dim distant past of ERP, 10 years ago and more, the way you learnt about the software was by referring to the training manuals relating to various modules – Accounts Payable, Bill of Materials, etc. It was a very product-oriented and narrow view of learning. Times have changed, fortunately, and learning materials are turning towards how people work – their roles – and the business processes involved.
As the CFO of an organization, your responsibility is to ensure efficient and effective financial operations and records, and influence overall strategy. An ERP is the foundation of the operations of a business. For a CFO, it enables you to track and report on all business transactions, analyse information, ensure governance and compliance, and increasingly do this via mobile devices. Therefore, you need to be very sure your ERP project will deliver what the business requires, and also what was promised.