Why fix what ain’t broken?
For many finance functions in Asia, workflows are very manual driven. Manual data entry and processes, paper receipts, and spreadsheets are still how most business gets done, and advanced digital tools are unknown or rarely used.
Many finance teams are nowhere near able to declare themselves digital-ready. They definitely fall far short of data and analytics maturity, despite the rhetoric and chatter around the imperative of having a digital finance function.
Much of this slow pace of digitalization is the legacy of people, processes and technologies just not willing to make the change. At least until 2020.
COVID-19 did have one big benefit, it has forced finance leaders to revisit the importance of a digital-able organization.
No longer solely occupied with control, compliance, and reporting, finance has become a player in performance management, strategy, operational improvement, and digital transformation.
By marshalling ever-increasing masses of data and tapping the power of analytics to glean insights from disparate forms of information, the finance function is poised to lead the organization into the digital future, discovering new forms of value creation along the way.
Click on the link to download your copy of Finance’s key role in building the data-driven enterprise and begin your path to a digital finance operation.