Unlocking power of financial analytics: Strategic imperative for modern finance professionals

IN today's fast-paced and data-rich business environment, the role of nance has expanded beyond traditional reporting and compliance. Not too long ago, financial data was seen asa necessary but somewhat mundane part ofbusiness— important for keeping the books in order but not exactly exciting.

- Towhid Akbar

Now, however, data has become the secret weapon of top management, The ability to analyse trends, predict future outcomes, and make data-backed decisions has elevated finance leaders to the forefront of business strategy. Forward-thinking finance professionals are harnessing the power of financial analytics to drive strategic decision-making, enhance operational efficiency, and mitigate risk.

Advanced technologies such as artificial intelligence ("AI"), machine learning ("ML"), and big data analytics have redefined the finance function, shifting it from a reactive reporting role to a proactive driver of business strategy. Leveraging financial analytics is no longer optional—it is a fundamental requirement for long-term success and competitive advantage. At Ceylon Tobacco Company PLC ("CIC"), we have recognised the critical link between finance and IDT early on, working as one unified team to drive innovation and enhance decision-making across the organisation.

The evolution of finance: From compliance to strategic leadership

Traditionally, finance teams focused on historical reporting, bookkeeping, and regulatory compliance. While these core responsibilities remain relevant, the function has evolved into a strategic powerhouse, utilising data-driven insights to shape business direction. Finance professionals today must generate actionable intelligence from vast and complex datasets, enabling real-time decision-making and forecasting, Tis transformation has positioned finance at the heart of corporate strategy, providing organisations with the agility to respond to market shifts and capitalise on emerging opportunities.

Financial analytics as a strategic enabler