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The CFO’s Roadmap To Finance Transformation

by David McGuire - July 2020 3 min read

Every CFO knows the finance function is capable of so much more than its “traditional” definition. Thanks to the convergence of technology and insight in recent years, a transformed finance function can now take its rightful spot as a hub for strategic decision-making and innovation within an enterprise.

With The CFO’s Roadmap To Finance Transformation, Embark has created a detailed blueprint for a more efficient, flexible, and forward-looking finance department. Building on our previous thoughts on the subject, our step-by-step implementation guide will help an organization’s finance function reach its ideal future state, no matter where it might be in the digital transformation process.

The CFO’s Roadmap To Finance Transformation

 

Beyond the Theoretical

The concepts and instructions throughout our guide could very well determine the winners and losers in the race for market share and profitability – and no, that’s not an overstatement. But if you’re still unsure about the benefits of a transformed finance function, there’s nothing like a few eye-opening statistics to light a financial fire.

  • Automation/improvement of key finance processes can reduce costs 35%-46% on average
  • Less than 25% of a finance team’s time is currently spent generating insights for an organization
  • Financial analysts in the most efficient companies still spend 40% of their time gathering data
  • Current technologies can fully automate 42% of activities within the finance function, and partially automate another 19%

What do these statistics mean for today’s accounting and finance leaders? The future is now. An organization can transform its finance organization starting today, but only if it establishes the footing that a transformation needs to take root and flourish.

And that’s what separates our insights from others. We don’t fast-forward to the end of the journey and leave you guessing over the best path to get there. Instead, our focus is to ensure you build a rock-solid foundation of the right people in the right roles, coupled with streamlined processes that can support innovation and technology.

In other words, our transformation guide isn’t theoretical – it’s hands-on, real-world advice culled from our team of transformation experts. We give CFOs practical insights on building that all-important, scalable foundation, including topics like:

  • The biggest challenges to overcome
  • Identifying bottlenecks and pain points in operations
  • Creating a business case
  • Essential building blocks you’ll need
  • Leveraging expertise and experience

CFO's Roadmap To Finance Transformation

New value creation. Streamlined finance operations. Improved risk management & business performance. They're all within arm's reach. Download The CFO’s Roadmap To Finance Transformation and discover how technology and knowledge can move finance from the humble department down the hall to the center of business strategy and innovation. As always, Embark is proud to lead the way.

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The CFO’s Roadmap To Finance Transformation

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