Digitalising the finance function: four potential quick wins

While a wholesale upgrade may have little appeal in these uncertain times, many CFOs have some far less drastic options open to them that offer plenty of bang for their buck For most finance chiefs, a recession won’t be the ideal period in which to attempt a full-blown digital transformation . They may be more inclined to go for some quick wins instead. For a business that may already have entered survival mode and isn’t looking to fund potentially disruptive IT upgrades, the ideal digitalisation project will offer a clear return on investment and won’t require key processes to be completely rewritten. But where might such straightforward opportunities exist, especially among the many finance teams that have already adopted plenty of digital tech in recent years? Here are four varieties of low-hanging fruit that CFOs could pick with relative ease. 1. Get your head in the cloud “Technology has been the cornerstone of our function since day one.” So says Sam Feller, director of finance and operations at Popcorn Shed, a London-based producer of gourmet popcorn. His team uses digital tools to “manage almost every financial process, from accounts and business reports to inventory and replenishment”. Like many firms […]

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