So why are we as finance professionals so slow to adopt digital transformation when there are so many proven benefits to us and the companies we operate in? I believe this is due to three main fears.
Budgeting and planning activities within companies are often time-consuming and quickly outdated in their significance. Methods like driver-based planning or even Beyond Budgeting represent attempts to increase efficiency, but the approach remains old-fashioned. However, the developments in the field of AI/ML are now opening up completely new possibilities. In the near future, it will be possible to calculate and compare a wide variety of planning scenarios within minutes.
While I was having a business meeting recently, I was asked to resume in simple terms: What is No-Code / Low-Code technology, and why should I consider it important for my business?
In today’s volatile environment, standalone digital improvements are rarely enough. Increasingly, there is an accelerated need to truly combine human and technological capabilities.
In this paper, we will explore these different areas to explain what they are, how they have benefited other organisations and the steps an organisation can take in making the transition.
A key function of effective FP&A is to create a data-driven decision-making culture throughout the enterprise. Data management is, therefore, a crucial part of FP&A's agenda.