Real-Time Data, Visibility, and Higher Productivity are essential to every Office of Finance.
We may not know exactly what the future holds for us, but we know for certain that technology disruption is coming to the middle market. In the finance function, this creates the opportunity to revamp finance processes, enhance employees’ skills, and utilize the right technology solutions to reduce complexity and increase the strategic value of finance within the business. In this digital world, having a clear vision and strategy for your finance function is critical for this to happen.
Keeping this in mind, we present three lenses through which to view digital transformation’s impact on your financial strategy and roadmap.
1. The Evolving Role of Finance: Becoming the Business Intelligence Hub
As advances in technology continue to enable repetitive finance processes to be automated, the finance role will transform from transactional finance to an analytical function that provides business intelligence and insightful information to management.
2. Finance Cycles: Bringing Finance Closer to Real-Time
Periodic reporting will no longer drive operations and decisions as it did in the past. Today, many finance cycles are driven by technology constraints and data processing limitations.
3. Workforce and Workplace: A New Finance Talent Model
Employees will be doing new things in new ways. Finance talent models are evolving quickly, with a premium placed on data scientists, business analysts, and storytellers. This represents a dramatic shift for many finance organizations.
Download the white paper to discover these three perspectives regarding digital transformation in the middle market.