5 Tenets for Financial Process Transformation
Learn mantra for a successful process overhaul of Finance function
A new generation of digital disruptors is changing the way finance is done. Here are top 5 mantras to transform your finance processes into a business moat:
1. Make Transactions Frictionless - As automation and blockchain penetrate more into finance processes, transactions will be frictionless.
2. Make Finance a Strategic Advisory function - Brings together crucial financial, workforce, and operational data at scale, accelerating finance's evolution from transaction operator to strategic advisor.
3. Focus on Real-time - Finance is now conducted in real time. Reporting will no longer be done on a regular basis. In the future, self-service will be the standard.
4. Automated service delivery models: As algorithms rule a more diversified financial workforce, new financial service delivery models will rise.
5. Transition to smarter infrastructure technology: Microservices and finance apps to replace traditional ERPs. Data standardization will be aided by the growth of APIs, but it will not be sufficient.
At Crelytics, we can help you with your financial process transformation. To learn more, write to team@crelytics.io or Sign up.