×
The role of the CFO is rapidly evolving beyond traditional accounting and finance responsibilities. Modern CFOs are deeply involved in holistic strategy, operations, and performance, often working closely with the CEO as a partner in value creation. By leveraging the AWS Cloud, CFOs can achieve significant cost savings, improve resilience, enhance security, and drive digital transformation across the enterprise.
CFOs face a range of challenges, including cutting costs, identifying investments to drive growth, cash and liquidity planning, accurate forecasting, profitability, maximizing technology investments, managing supply chain disruptions, ESG planning and compliance, and capital costs. Balancing these responsibilities while leading company-wide transformation is a complex task.
Flip Your IT Budget on its Head Traditional IT budgets allocate ~80% to maintenance and only ~20% to new technology. Adopting AWS Cloud can reverse this ratio, freeing up more budget for innovation and growth projects. AWS Cloud pricing eliminates separate costs for power, space, cooling, licensing, and maintenance, allowing more funds for experimentation and transformation without negatively impacting financial KPIs.
Match Spending to Revenue Sources More Accurately
In large enterprises, IT charges are often centrally managed, leading to inaccurate cost allocations. AWS Cloud offers mechanisms like account creation strategies, cost tagging, and per-second billing to achieve precise cost attribution at the application level. This enables the development of P&Ls by application or digital revenue stream, providing clearer financial insights.
Move IT Spending Decisions to the P&L Owner
AWS Cloud's standardized building blocks and accurate cost attribution empower P&L owners to make project decisions without needing capital approval. By embedding software engineers and data scientists within business units, organizations can prioritize projects and experiments based on specific needs and priorities.
Enable Finance Transformation with AWS Cloud
The AWS Cloud offers significant benefits for transforming the finance function:
Break Down Data Siloes: CFOs can become stewards of data, enabling more integrated and forward-looking analysis.
Monetize Data
AWS provides pre-built capabilities in analytics, AI, and ML, allowing for cost-effective and rapid data solutions.
Improve Risk Profile: AWS enhances risk management with separation of duties, automated compliance checks, and comprehensive tracking of user actions, improving access control and auditability.
Cost Savings
Reduce IT expenses and reallocate budget towards strategic initiatives.
Resilience and Security
Enhance operational resilience and security with AWS’s robust infrastructure.
Agility and Innovation
Accelerate digital transformation and foster a culture of continuous innovation.
Risk Management
Mitigate risks related to stranded assets, project execution, compliance, and internal control
