How I view Transformation in 2018, what’s important, where is it going, how are companies embracing it
In 2018 the finance function evolution continues. Ongoing financial operations need us to do more for less. Increased business partnering needs better data, strategic insight and decision making. Finance transformation still supports improvements for people, processes and systems and 2018 gives us opportunities to invest in exciting technological enablers, evolve our processes and business models and upskill our people.
On the systems-side the days of wall-to-wall ERP solutions are over. There is more use of plug-and-play best-in-class integration. There is more focus on data. GDPR means there’s more safeguarding, but we also must use our data to generate more insight. Focus continues on management information and business intelligence improvements. In some instances finance is starting to become the guardian of corporate data not just financial data.
We’re still seeking cost arbitrage but this no longer comes from outsourcing and offshoring, instead we’ll use more robotics. To best leverage robots we need robust, standardised controls and processes so there’s work to do in process simplification and harmonisation.
Finally we need more of our people than ever. We’re working to make sure our people are more than accountants. We want people who can undertake complex data analytics and generate advanced business insight, lead projects and keep a professional scepticism. Our people remain our most important asset and for change to happen we need them engaged and enabled.
Eleanor Hampson, Programme Director, Future Finance, BT