By: Ciopages Staff Writer
Updated on: Feb 25, 2023
Finance transformation process is an encapsulation of the depth and breadth of effort required to successfully transform accounting and finance functions to excel in the digital age. The finance transformation process is complex, arduous, and costly. All the steps in the finance transformation process are important but some can lead to the collapse and have long-term consequences.
The finance transformation process is complex, arduous, and costly.
Such critical steps that can exacerbate the failure risk are as follows:
a) Not understanding the value streams well and how the experience of these value streams needs to reshape in the future. b) Lack of a finance business capability model. c) Finance technology has become a critical success factor in transforming finance. Selecting a finance software platform that does not meet the needs. And d) Underinvestment into change management and adoption.
The Finance Transformation Process Steps Outline:
If your company is thinking of a finance transformation, please consider CIOPages.com finance transformation offerings. Or consult us for any help you need in the finance transformation process.
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