Digitization of the finance function provides a competitive advantage: not only is there efficiency gain, there are also new strategic insights that competitors may not have. Digitization has little to do with the size of the budgets. The technology itself will be available for every finance professional. The questions are: will the finance function be able to use the tools efficiently? And can the finance function deal with “change”?
In today’s digital world, the finance function must become more efficient, more flexible, more forward-looking, more decisive and more effective. There is no other option for the finance function then to become fully digital. More than ever, finance must be able to respond to the demands of all stakeholders in the company in order to have the right information at the right time. This means that finance needs flexible information (processing) technologies.
If the finance function does not start its digitization project today, it will very soon lose its leading role in the company. But digitizing is much more than just installing tools. It also impacts the underlying processes and most of all the employees. New skills and competences will have to be developed.
In this module we mainly focus on the possibilities that new, disruptive technologies entail and how you can use them meaningfully in expanding your finance function. Other aspects of digitization are also covered in the modules on leadership, high performance finance function and innovation.
• Get insights into the possibilities and limitations of new technologies that potentially have impact on the financial processes
• Gain confidence. You will be a worthy conversation partner of the IT department and external suppliers with regards to strategic and tactical technology choices
• Understand both the technological and non-technological requirements to make digital projects successful
• Learn about available tools that will help you to lead a successful digitization process. Learn to make a business case and calculate the ROI of a digitization process
• Get insights into how finance can adjust its processes and business partner role if the company chooses to become a truly digital business
ABOUT THE FACULTY
Gerrie Smits is a digital strategy consultant and speaker. With 25 years of experience in industries that got disrupted by the internet, he is a hands-on expert in identifying the impact of tech. He teaches at Solvay’s Digital Transformation Program and was Program Director at Antwerp Management School / KdG of the post-graduate ‘Digital Business’. He’s also the author of ‘Blockchain is WTF’.