On the back of mecklemore's BoardDay 2020 presentation on digital transformation in the office of finance, an article quoting our director, Christoph Mecker, was published by CFOtech today. CFOtech is providing technology news for Australian CFOs and financial decision-makers.
The article reflects on the rapidly changing business environment (pace of innovation and change), observes how businesses respond to the 'need for speed' (agile structures, digital transformation), and explores the role of finance in this significant shift (business partnering, provision of real-time business insights and predictive analytics).
For Finance to succeed in this significant shift (without an increase in team size), Finance needs to automate transactional processes, enable self-service reporting and embrace data visualisation and analytics tools.
"Getting started and establishing a transformation blueprint that guides (investment) decisions along the way, is not too difficult." Christoph Mecker says.
Contrary to the admittedly proven yet often time consuming 'As Is' - 'To Be' - 'Roadmap' approach, Mecklemore favours starting with the establishment of a vision for the various finance domains, then identifying roadblocks to that vision (data, systems, processes).
"This approach establishes a positive direction quickly and results in a significantly shorter journey - and a smaller spend on all the things clients should already know (the As-Is).", Christoph Mecker adds.
Read the full article here or reach out to discuss your specific digital transformation needs. We'd be glad to help.