If you are seeking agility, improved access to real-time data to drive business decision-making, and the momentum to accelerate your organization’s digital journey, then start with a clear vision.
The digital age has long arrived and it’s putting pressure on the finance function to do more with less, quicker, and to deliver value. The finance function’s vision is underpinned by the corporate strategy and its digital broader agenda. Achieving this requires a clearly articulated vision and functional strategy that deploys the right skills and technology.
Digital transformation is now a business imperative for companies looking to gain or maintain a competitive edge. In the wake of the global pandemic, a survey of CIOs revealed that more than 50% of respondents have pledged permanent investment in digital transformation.
More recently, a Gartner survey uncovered that nearly 70% of Boards of Directors believe that the effects of COVID-19 are accelerating their digitization initiatives.
With this acceleration in mind, here are four steps to digitally transform and build the finance function of the future, one that is positioned to effectively support a profitable business.