CFO, driver of digital transformation
As CFO you influence business decisions by providing information at the right time Technologies such as robotics, data analytics and machine learning make this possible and quickly bring the finance function of the future closer.
Applying directive data means that financial reporting and predicting change increasingly merge into one another. This requires a different set-up and management for the financial department – flexible, agile, and eager to learn. The financial department will also be more focused on connecting the strategic organizational goals. Instead of traditional hierarchies, future organizations will function as a network of powerful, autonomous and strategically aligned teams that jointly implement a particular goal of an organization.
In every industry, chief financial officers (CFOs) must contend with a variety of challenges, including sluggish growth, new competitors, an evolving workforce, changing business models, exploding amounts of data, greater regulatory complexity and a persistent need to cut costs. In this environment, it’s no longer enough for CFOs to be the financial stewards in their organisations, ensuring finance reports are accurate and complete. In addition, they now need to harness the data flowing through the organisation to take on a more strategic role, helping fellow business leaders see not only where the organisation stands at any given moment, but also where it can and should be next week, next month and next year.
The key to success is often digitisation of financially related processes. Integrating the IT strategy with your business strategy and finance objectives is inextricably linked to this. As technology develops, you will increasingly find yourselve working side by side with robots, artificial intelligence, and smart automation. PwC can advise you on the selection of products and services from Oracle, SAP, Salesforce, Google, Adobe, and assist you with the implementation, and optimization. And PwC also trains your employees so that they have the right skills. This way you can digitally transform your organisation, from strategy up to implementation.
“CFOs who can supply the right information from hour to hour, from minute to minute, are the ones who can really influence the operating result.”