Bridging the Gap The crucial partnership between finance and IT in digital transformation (1) The importance of the partnership between finance and IT in driving successful digital transformation may seem obvious, but recent insights from a Forrester survey of finance and IT executives shed light on persisting challenges. The survey revealed that nearly two-thirds of respondents acknowledged continued silos between the two departments, leading to a lack of alignment, complicating their ability to streamline processes and adopt digital technology seamlessly. As organizations increasingly seek a competitive edge through digital technologies, the collaboration between finance and IT becomes critical. By working together, finance and IT can leverage their expertise to achieve strategic objectives and drive successful digital transformation. Combing efforts enables the optimization of your financial processes, enhanced data accuracy, and adoption of advanced analytics, boosting innovation across the organization. Competing requirements Competing requirements and controls between finance and IT arise from each department’s differing priorities and objectives. Finance and IT play vital roles in an organization, but they often have different perspectives on risk management, compliance, and operational priorities. Here are some common areas where their control requirements may come into conflict: Risk Management Finance is typically risk-averse, focusing […]
Click here to view original web page at securityboulevard.com
