Read about the successful CFO’s report and find out how to deal with stress and burnout in this high pressure role
You may feel that you are always working, and never able to catch up with your personal demands as they increase.
You are not alone
The Secrets for Successful CFOs Report reveals that only 27% CFOs have a good work-life balance. 87% manage stress and 83% experience regular burnout.
These figures raise a question that is of great importance to today’s financial professionals. Is it possible to find personal harmony with such a demanding job?
Yes, but not by yourself. Tech could be your greatest ally.
Imagine Sarah, a fictional CEO of a midsized tech company.
She will never be able to get back the moment she missed her daughter’s crucial football match because of her demanding job.
This was the norm until her company began to use AI, and automation technologies. Her month-end closing went from being a marathon to a more streamlined process.
– Sarah now leaves her office on time and regains her weekends and evenings. She is present at the football matches of her daughter, and she is incredibly proud.
– She focuses her efforts on strategic initiatives at work rather than mundane tasks. Sarah has found that technology has not only improved her work efficiency, but also her personal life. She can now enjoy the moments in her life that are most important.
It’s easy to forget what we are all working towards – a better quality life – when we’re constantly chasing productivity.
Sarah’s fictional story may reflect your own and reveal a larger truth: technology can help you balance work and life.
You might be like Sarah and have missed moments. But what if technology could help you recover these, improving your work life and your personal life?
Lewis Dangerfield, CFO at Osprey is a company that uses Sage Intacct to manage their financial processes. He says:
“Like many CFOs I work more than the average 37.5 hours per week. But I enjoy my work. “It’s not just work.”
The report’s findings reveal that work-life balance can be achieved by using technology strategically.
This article will explore how AI and automation can enrich both your professional and personal life.
Download a free report on “The Secrets of Successful CFOs”
What we will cover
- The challenge of work-life balance
- Technology to boost strategic decision-making
- Keep up with the latest tech advances
- Final Thoughts
Work-life balance: a constant challenge
Balance is even more important as senior finance responsibilities expand beyond traditional finance management and include broader business strategies and tech integration.
You can adapt to the changing landscape of finance by learning new tools. This dynamic can easily increase your stress levels and work hours as you try to keep up with tech trends and ensure that your finance team is running efficiently.
But adopting new technology like AI and automaton streamlines your operation. You’ll need to be more engaged, but if you do it correctly, you can significantly reduce your workload and focus on the things that matter most, both in and outside of the office.
It’s important to keep a good work-life balance as a finance professional. It’s important to maintain a healthy work-life balance, not only for your personal wellbeing but also in order to achieve a high performance level at work. It can be difficult to balance these, but it will allow you to thrive both professionally and personally.
Achieving this balance helps prevent burnout, fosters creativity, and enhances decision-making capabilities–critical for successful leadership.
It’s important to implement this change in all areas of your company, as it will also affect your team. Work-life balance should be a priority in every role so that your employees are able to continue performing at their best, without sacrificing health or happiness.
Tech can help you make better strategic decisions
It is a fact that AI and automation can increase efficiency, and help you to focus on strategic planning. This will lead to better team performance. How does it work exactly?
Finance teams can save time by using AI to automate tasks such as data entry and financial reports. They can then focus on more valuable work, like strategic planning and collaborative collaboration.
Automation of routine processes can also help save time, which is then re-invested in forecasting and planning scenarios. This allows you to make better decisions and improve your business strategy by gaining deeper insights.
This technology, for example, can streamline the accounts payable process through automated invoice capture, approvals and payment processing. This technology also reduces the errors that are associated with manual entry and speeds up payment cycles.
AI’s outlier-detection capabilities allow your team to quickly detect anomalies in financial data. This is crucial for mitigating risk and ensuring accuracy of financial reports.
CFOs that champion collaboration tools within their department foster a more transparent and connected work environment.
These tools improve communication across departments, allowing for faster decisions and better data analysis. They also reduce silos within organisations.
It will improve the efficiency of your teams and help create a cohesive corporate culture. This will reduce stress on both a personal and collective level.
By automating and optimising financial processes with tech, you can enhance your strategic impact and improve the work-life balance of everyone.
Download a free report on “The Secrets of Successful CFOs”
Keep up with the latest tech advances
Staying up to date with your technology is important for two reasons:
- From automated data analysis to real-time reporting, adopting and understanding new technology can improve the efficiency and accuracy in financial operations.
- Automating routine tasks with technology can save time. This time can then be used to concentrate on strategic initiatives or personal well-being.
Learn how to be a part of continuous learning
Even if you have a busy life, an hour a week is enough to keep your mind sharp.
You can stay up-to-date without stress by making a small commitment.
Try these bite-sized tactics:
Schedule learning blocks
Incorporate fixed, short learning periods into your weekly schedule. This will ensure that you are improving without interrupting your daily duties.
You could, for example, read industry magazines or try out new financial software in order to stay ahead.
Online courses and webinars
Many companies and institutions offer webinars and short courses that are impactful and tailored for busy professionals.
You can learn more about the latest technological advancements and strategic concepts in a more efficient way than you would with more traditional education.
Peer Learning
You can form or join peer groups to learn from other professionals in the financial industry and gain insight, knowledge, and networking.
Consider meeting regularly to discuss the latest technologies, challenges, and strategies in the financial sector. This will provide a collective knowledge base and support.
Conferences and Seminars
Attending high-value seminars or conferences annually will expose you to the latest ideas and tools.
The networking opportunities that these events offer can also lead to new learning opportunities and professional relationships.
Learn with tech
Consider using technology as a tool for learning. For example, you can subscribe to newsletters that are curated, listen to podcasts while on the bus, or follow thought leaders on Twitter.
Keep up with the latest technological trends by integrating learning into your daily life.
Final Thoughts
It will be both a personal and an organisational challenge to achieve work-life balance.
Prioritising your health creates an environment that encourages strategic thinking and decision-making at the highest level.
Advanced technology can help you to better manage your time and balance work and family responsibilities.
By committing to constant learning and using the appropriate tools, you can redefine your role and reduce stress.
In some ways they are more important than anything else, as they safeguard your health.
Are you ready to reduce your stress and reclaim time? Find out more about how Sage Intacct can help you rebalance your finance function.
Our guide, The Secrets of Successful Chief Financial Officers explores AI and automation as future solutions and current possibilities.
