The Ledger
Curated content foranalytical business leaders
Tag Archives: digital transformation
CFO Insights: What is On Your Transformation Risk Checklist? Part II
August 25, 2022
“Suppose you have used a personal spreadsheet for years to calculate a certain formula, but your company has introduced a new system to handle that. If you insist on using your method, the company no longer knows whether you have used the correct assumptions to calculate the formula—or if errors have been introduced into your spreadsheet.”
CFO Insights: What is On Your Transformation Risk Checklist? Part I
August 25, 2022
“Core legacy systems may not be able to provide timely and accurate information and analysis for business decision-making. In cases where organizations have grown inorganically through acquisitions, critical systems and data sets may not be seamlessly integrated to give comprehensive real-time insights on key business issues. Thus, core data and IT infrastructure often must be improved before process and operational changes can be delivered”
CFO Dive: Digital Transformation, Worker Retention Can Cut Costs
August 23, 2022
“Taking steps to invest in technologies…that can take on time-consuming or repetitive processes rather than reducing one’s workforce can help businesses more successfully weather an economic dip. The investment in processes such as digital transformation “often has an immediate effect on labor costs and savings,” Armanino said. Deploying technologies like AI can help to drive cost-savings as well as provide a short-term return on investment for the business, he said.”
CFO Dive: CFOs Flag Staffing, Digital Transformation as Top Growth Challenges
August 17, 2022
“Companies with more resources or more established financial teams are more likely to focus on digital transformation, however. The study found 47% percent of firms with between $51 million to $100 million in annual revenue, stated digital transformation was a top challenge when it came to fostering future growth.”
CFO Insights: Welcome to the “no normal”: Exploring The Transformation Myth
August 11, 2022
“Long a core strategic financial and planning capability, scenario planning has regained currency in an ultra-dynamic environment. By applying digital intelligence to scenarios, they are no longer static renderings that CFOs file away, only to resurrect them if a company stumbles on a serious threat.”
SF Magazine: Digital Skills of the Future
August 1, 2022
“As evidenced by these skills, there will be a need for deeper technical skills in data governance, data privacy/security, process modeling, and application development/testing, especially when integrated with traditional finance skills like revenue generation and cost-efficiency management. A willingness to continually remaster these digital skills as technology changes, along with the ability to clearly articulate the value of the complex interactions between finance and technology, will position the management accountant for continued career growth and success.”
CFO Magazine: Finance Transformation: Unleashing the Potential of Data
July 19, 2022
“The key to success in finance transformation is to understand and make the most of all the ways a fully integrated data solution can take charge of routine processes from front to back. While managing the routine, the solution also will generate better data, more rapidly for the higher-level analytics that finance uses in budgeting, forecasting, planning, and other key operations. Getting the “how” right will help to optimize decision-making, operational efficiency, and ultimately profitability.”
Forbes: The CFO As Catalyst For Digital Transformation
June 14, 2022
“Having fundamental accounting skills and a sound financial background are still important skills for our finance employees. Beyond that are increasing demands for digital and technology knowledge. Data analytics, for example, is increasingly important to provide insights that help us be more strategic partners to the business.”
CFO Magazine: For CFOs, Digital Transformation Requires Letting Go
June 8, 2022
“For the data that executive management and the board used to drive enterprise and strategic outcomes, a centralized, universal approach to data governance is still required. But for tactical outcomes and operational decision-making — like the information operations needs to diagnose performance issues, monitor market shifts, or spot business risks — the objective of data governance should be efficiency, Duffy said.”
