Digital Age
This is a unique time. Disruption is coming from many sources: new competitors, new business models. Even the expectations and needs of employees are disrupting work practices. Many of the rigid finance processes that currently exist can no longer effectively meet the needs of businesses. Therefore finance departments are actively looking for technology and solutions that will help them thrive in this digital age. What does digital mean? Digital means everything runs faster, cycle times reduce, information is available to everyone instantly. Matthais Heiden, senior vice president, regional CFO, Middle and Eastern Europe (MEE), says that well in his most recent blog. “The speed of now has never been faster”. He reminds us that “With the increased transparency available, the capital markets are ever more anxious to get information more quickly and benchmark performance against other companies”
Network-Centric Finance
Increasing automation, simplifying processes, facilitating collaboration. They are all key strategies to be able to thrive in the fast paced digital economy. Not just automating processes within a company but also between business partners, such as buyers and suppliers. Removing manual steps in company interactions through business networks can generate huge efficiencies. McKinsey research suggests that companies can achieve significant savings in both time and money. They have identified up to 50% increases in efficiency by digitizing shared-services organizations. Business networks can play a major role. drew.hofler in Las Vegas - March 16th and 18th. Come and talk to them and other experts about the challenges and opportunities of SAP S/4HANA Finance in the digital economy.
