Collaborate with the other C-Level executives and get buy-in
What role do CFOs play in driving technology adoption and digital transformation? How should they effectively champion technology both within their departments and in the organization more broadly?Digital transformation has become the definitive gateway for both organizational stability and value creation. Companies that embrace data-driven decision making and standardized, streamlined workflows have options when the world around them changes.
It’s incumbent on CFOs to articulate the ROI associated with effective tech and the higher-level need for strategic change across the company. CFOs are a key voice in eliminating the old adage of “we have always done it that way,” and encouraging employees to instead see the value in new ways of doing things, to support the strength and longevity of the business. Focusing on tech that provides workflow enablement and acceleration, not more little tools that add marginal value, is the key.
: This promotes a greater, broader understanding of the business’ growth objectives, and how each team contributes to achieving those goals.: This creates a culture of transparency and information sharing, which helps employees understand where there are opportunities for improvement and to feel a sense of ownership in helping to solve for them. This also enables proactive insight availability for peer decision making and partnership, providing support for peer business leaders.
When F&A software is built to ensure accurate and on-time financial reporting, it not only provides valuable insights into the health and performance of the business, but also preserves human capital, by enabling employees to focus on value-add activities as opposed to repetitive, manual processes.
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