What’s clear though is that CFOs are positioned to play key roles in the digital transformation of their businesses. The automation and digitisation of processes steeped in legacy processes such as budgeting, resource, supplier payment and invoice processing can all set a tone of digital leadership and progression.
By adopting this approach, finance will also achieve the indirect benefits of creating ongoing value to the organisation. Introducing streamlined and effective internal finance processes, supported by a clear finance transformation framework, can go a long way to supporting business growth.
The benefits are there for all CFOs to see. Reduced costs, improved efficiency, tighter regulatory compliance and more effective communication with suppliers and creditors can all be achieved if digital finance is embraced. Benefits that not only improve the operational performance of the finance function, but that actually contribute to the businesses ongoing and long-term growth plans.