Financial Director’s most recent webinar, in association with Blackline, focused on helping financial directors lead the strategic digital transformation as the need to modernise becomes more immediate and necessary than ever.
The panellists discussed a number of questions including how to choose your technology solution, who is best placed to lead the transformation, and how to bring a team on the digital journey. Here are the top takeaways from the discussion.
Everyone needs to be on board…
1. It’s important to have the whole company on board when it comes to making a digital transformation. From the CFO to the CIO, the IT department to the board, patience is required because just one unruly member of the team can derail an important project.
Are your foundations in place?
2. Before embarking on a digital transformation journey, it’s important to ask whether the technological foundations are already in place to allow the process to happen smoothly. Is there a fully resilient network? Is there adequate IT security? Is cloud software in place? If not, a successful digital transformation becomes less likely.
3. Ensure that the mission and purpose of a digital transformation is clearly defined and aligns with the overall strategic vision for the company.
4. There are four key strategic objectives that any technology solution should deliver. It must reduce costs by streamlining processes. It must deliver quality and create a more consistent process. It must deliver high-quality management insights, so everyone sings from the same hymn sheet and the data is clear. And it must provide value for customers.
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