transforming finance in a digital era

Transforming

Finance in a Digital

Era

The Four Forces affecting

Finance function today

Finance must understand

‘DIGITAL’ smart technologies

‘BIG DATA & ANALYTICS’ are

transforming finance, from

reporting to forward-looking BI

‘RISK MANAGEMENT’ has

never been more important

Managing conflicting demands of

‘STAKEHOLDERS’, and complex

relationships across boards

1

2

3

4

No more ‘Business As Usual’

How will Finance lead the

Change?

‘7 steps’ where Finance function will evolve

as an Agent of Change…

Re-align Operating Model 1

Finance teams will

provide their unique

‘value proposition’ not

by looking backwards…

…but by charging forward with innovation and new

business models.

“By 2020, we will see

finance teams much

more as integrators of

information, process

owners and…

…sophisticated managers of third-party

relationships.” - David Fincher, E&Y

Drive Integration 2

Raise new Finance Talent 3

Accountants will be

less in demand, while

data scientists,

sociologists, and

mathematicians will be

joining the ranks of

finance professionals.

Reimagine processes 4

Finance professionals

will stop optimizing

and re-engineering

existing processes...

…rather they will

design optimal

processes that

leverage the limitless

possibilities.

Automate Reporting 5

All finance information will be

available in a personalized

and secured way.

Information has to

be accessible

anytime anywhere.

Dynamic Planning 6

Real time feeds

from internal

and external

data sources

will ensure that

forecasting can

be done

continuously.

Planning will

become thinking

as reaction will

become action.

Leverage Big Data Analytics 7

Finance will

move to real-

time

analytics

through a

mix of

technologies

such as…

…cloud, predictive analysis, in-memory

and artificial intelligence.

Agility is the Key Driver

Finance function needs to rapidly adapt

and steer itself in the new direction to

be the ‘Agent of Change’.

Are you

ready yet?

Let’s stay in touch

https://www.linkedin.com/in/maninder-bhatia

https://mobile.twitter.com/_maninderbhatia

References

Four Forces affecting Finance Function

today – Source:

http://www.ey.com/gl/en/issues/managing-

finance/ey-cfo-program-dna-of-the-cfo

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