Digital transformation is in full swing within financial enterprises of nearly every size, but one thing has become crystal clear: The CFO must play a crucial role in determining the strategy and tactics to automate and standardize key processes throughout the organization. The transformation of accounting and finance function is not the result of mere happenstance, but rather profound social and economic shifts, such as supply chain disruptions, rapidly changing consumer behavior, growing sustainability goals and advances in digital technology. These factors are forcing leaders to reposition how they are managing their organizations to ensure future success – and CFOs are looking at automation as a key driver of change. A recent Horváth study, for example, found that 87% of CFOs surveyed named "process standardization, centralization and automation " as the primary goal in their digital transformation efforts. That was followed by "reduced costs through process automation" (63% of CFOs); "cross-functional change to end-to-end process models (50%) and "improved service portfolio (45%).
Click here to view original web page at www.accountingtoday.com
