The key factors for a successful transformation of the Finance function - Part #1

damien.carlhian@solution-bi.com Wed October 4, 2023

THE FINANCE FUNCTION IN THE DIGITIZATION ERA

 

From methods to business lines, digital transformation has changed the face of the Finance Function.

No more manual entries or endless management of financial flows. With the adoption of the Cloud, EPM, CPM and Business Intelligence software, and even connected objects… it is becoming easier and faster to automate time consuming tasks and convert facts into data.

On the business side, accounting experts and financial controllers have developed new skills. Released from repetitive tasks, they are moving beyond their traditional activities to become genuine performance drivers and wise advisors for the decision-making process.

 

Digital transformation has made the Finance Function a new business partner for the company.

By helping transform the deluge of data into performance or risk indicators (KPI/KRI), new solutions have broadened the vision of CFOs. With this decision-making knowledge, they now support all functions across the company and are becoming the preferred partners of the top management.

For the company, adopting new tools is also a means of boosting its competitiveness and ensuring its own sustainability on a tense market. These are valuable assets for comprehensive digital data processing. And most of the economy is following this digital trend for all transactions.

 

THE RESULTS SPEAK FOR THEMSELVES:

TRANSITIONING TO DIGITAL TRANSFORMATION WILL THEREFORE BE A SUCCESS FACTOR FOR YOUR BUSINESS.

 

INITIATING A TRANSFORMATION PROJECT MEANS OPTIMIZING THE CONTRIBUTION OF THE FINANCE FUNCTION!

 

BENEFITS OF A TRANSFORMATION PROJECT:

- Develop a 360° view thanks to KPIs and reporting solutions

- Anticipate risks and identify opportunities through predictive analysis and automatic adaptation to the tax and legal developments of software packages

- Enhance the status of the job by automating repetitive tasks and synchronizing accounting and transactional processes via the systematic generation of accounting entries resulting from all job-related activities

- Exploit and explore company data as reliable expressions of relevant facts for business analysis and decision making purposes

- Develop new skills and become both more independent from and complementary with the ISD, by reducing its workload in terms of specific application development, thus allowing it to save time for the secure provision of more qualified data, more quickly

- Unite teams around a major change project and help them develop new skills, by contributing to a shared corporate vision

 

In our next excerpts, we will introduce our 5 key factors for a successful financial transformation:

 

 

 

Convinced ?

See you on September, the 2nd to discover how to align the project with the global vision.

We will also talk about the importance of understanding the present to better project into the future.

 

 

Who are we?

At Solution BI, an international consulting and engineering firm, we have been assisting our clients with their finance function digitization projects for more than ten years.

Our expertise, recognized in the marketplace, and our consultants certified by vendors allow us to support all your transformation and performance management projects: EPM, CPM, Business Intelligence.

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