The digital transformation of finance teams is the key to business agility  

28 April 2021:

Navigating change has long been the job of business and financial leaders.

Yet, no one could have predicted the level of disruption and uncertainty the global pandemic caused last year. The challenge is that 2021 appears to be heading in the same direction, with various lockdowns and new restrictions currently being put in place the world over. To weather the storm, and prepare for recovery, CFOs and their teams will have to become more agile — allowing them to anticipate what’s coming, and act faster, and more decisively, on the demands of customers, market shifts and competitive threats. The quickest way to do this is by embracing digital transformation.

While it’s widely reported in the industry that digital transformation is the way forward, many finance teams, particularly in large organisations, find themselves restricted by multiple systems consisting of rigid data models, disparate architectures, and static siloed data. I have spoken to many CFOs and finance leaders, who have managed to become more agile — overcoming the barriers of their old legacy systems by deploying the cloud. Each of their company’s challenges may be unique, but there are three scenarios, each underpinned by cloud technology, that all these finance leaders were able to leverage to transform their organisations — and I’d like to share these with you.

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Source: Tech Native

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