The challenges of transforming your finance function: finance analytics, technology and people
of time in top finance functions is spent on data analysis and gaining insights
of finance function professionals' time can be saved via automation and behaviour change
If you’re a CFO or leader in a finance function, you’re probably facing some common challenges when it comes to providing timely, actionable insights that will help you be a key contributor to organisational decision making.
Even among the top companies in Australia, legacy technology systems often prevent access to clean data and integration can seem like a mountain too high (and costly) to climb.
You may not have a single source of truth about cost drivers, client profitability and ROI. Static reporting and manual processes stand between you and timely decision-making.
Meanwhile, a lack of capabilities in finance analytics - both in terms of technology and people skills - might be holding you back.
And all this is taking place in an environment of complex risk and compliance requirements, where finance is expected to take a lead role.
Customer and community expectations mean you need more transparency, while employee expectations are higher and your teams constantly require upskilling.
The stakes are high. You need to navigate today’s challenges or risk eroding confidence in the finance function from internal stakeholders, your customers and even regulators.
However, through finance transformation, you can reshape the future of your organisation and lead from the front.
Our modern finance agenda is anchored around seven key pillars that can drive a strategic shift in the finance operating model, enabled by digital transformation across People, Process and Performance.
Digital finance workforce
Prepare your people for the future of work
Modern finance workplaces
Smarter spaces for greater collaboration
Process excellence & automation
Gain simpler, faster, more effective processes
Risk & regulation
Better controls to help you stay one step ahead
Real-time business insights for improved performance
Connected, self-service data
AI delivers more connection and greater support
Cloud ERP & digital platforms
Easy access to secure data, anywhere, anytime
Finance Transformation Lead Partner, PwC Australia
Tel: +61 7 3257 8304