Transforming your finance function

The challenges of transforming your finance function: finance analytics, technology and people

  • 75%

    of time in top finance functions is spent on data analysis and gaining insights

  • 30-40%

    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.

Finance transformation is the way forward

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.

The seven aspects of finance transformation

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

Performance excellence

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

Why PwC?

The most important problems are better solved together. PwC leads the market in identifying and assembling the right mix of collaborators, advisers, subject matter experts and technology, together with our people, to deliver innovative solutions. Through the power of many minds, insights become impact, opportunities become outcomes and Australia prospers.

We call this, The Together Effect.
 

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Contact us

Mathea Beck

Partner, Finance Transformation, PwC Australia

Tel: +61 477 359 811

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