The CFO finds a Genie

Imagine this scene in the CFO's office. Smoke rose from under the desk, looming eerily around the CFO at the centre of it all. It was past eight, and the finance team had called it a day (it was not a day before any deadline). The source of the smoke and the glow was an antique lamp, a relic of a forgotten vendor relationship, perhaps. Without warning, a startling flash of blue burst from the lamp, shattering the quiet of the room. A gasp from the CFO in shock.
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“YOU GET THREE WISHES” echoes through the room.
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It can’t be, but it is. It is a wish-giving genie here in the CFO’s office. The absurdity of the scene is almost comical. What an opportunity, some would say. Ask for a magic ring that will give you unlimited wishes, others would say. Riches, fame, luxury, a yacht? So many things that can be wished for.
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But this is the CFO we are talking about. So, the story is a little different.
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Behind the smoke is a desk filled with mounds of papers and envelopes stamped as URGENT and GST NOTICE. Still, the genie in the room is shocking.

3 wishes is what the CFO got.

3 wishes are what he will wish for.

So what does the CFO really want? Let’s back up and return, for a moment, to a different time.
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The finance world has undergone a remarkable transformation in compliance. Since the start of GST, teams have journeyed from mountains of paperwork and manual calculations to on-premise systems and, then, the cloud. But this digital age has also brought increased scrutiny. The government is leveraging technology, leaving no room for error. Flawless data is no longer a luxury; it's a necessity to avoid unwanted attention. And just when you think you've adapted, a new regulatory mandate can appear, sending teams scrambling to comply.
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Finance teams are in “task hell”

Does this CFO in our story wish for “no more manual work?” We will find out soon.

And then with the era of technology, there could be a feeling of being left behind, and not focusing on the right areas of transformation. The finance function has evolved.
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A recent survey Clear did showed:‍Despite the General Ledger (GL) being the financial bedrock for enterprises, many struggle to harness its full potential for tax reporting. Gaps caused by deferred revenue, journal vouchers, unbilled revenue and intra-company stock transfers often remain mysteries. This forces finance teams into a time-consuming loop of manual data manipulation increasing the likelihood of undetected errors. The relentless pressure of these tasks creates a breeding ground for costly mistakes that can slip through even the most meticulous reviews.
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Does this CFO in our story wish for a single source of truth? It could be a good bet!

But what does a CFO really desire? A report from CFO.com shows: Heading into 2025, Finance leaders recognise automation advantages. More than half (55%) of the leaders said automating workflows in the finance department is a high priority, according to the report.

Reasons for automating include:

The CFO is committed to empowering their team by minimising time spent on tedious, repetitive tasks. Their vision is to ensure the enterprise operates smoothly, avoiding any unwanted regulatory scrutiny during their tenure.

Does the CFO in the story wish for no notices? Honestly, it will be a great wish at this point!

It's clear that today's CFOs face a multifaceted transformation, spanning technology adoption, team empowerment, productivity enhancement, ROI maximisation, and the pursuit of sustainable growth and profitability.

Let’s snap back to the CFO now.

The CFO rubs his eyes. A genie! He is filled with fear, excitement and anticipation. Slowly, the CFO gets up from his chair and heads to the big giant glass window overlooking the skyscraper. Just then, his phone beeps. It’s a text message from an acquaintance - Mr. Adit Tor. He doesn’t even open the message. Instead, he sighs deeply.
“Three wishes… hmmmmm”

Join us next week as we unlock the CFO’s 1st wish.