3 Steps for a Finance-led Business Innovation

The role of the finance team today has evolved over the decades, they no longer only looks at balancing books or preparing statement reports. The leading organisations now puts the finance team at the core of its growth strategy. We summarise 3 step-by-step of how a finance team can take charge and lead innovation for the business.

1. Take Charge

The finance team today drives the top, bottom and green-line growth throughout an organisation.

Open up new streams of revenue

• Build partnerships with leaders in every part of your organisation to get the maximum stakeholder buy-ins. 
• Make use of intelligence to optimise receivables and payments processes.
• Automate revenue accounting to adapt to new business models.

Drive down operational costs

• Build a better understanding of profitability drivers across customer, product, and service dimensions.
• Use Al, machine learning, and PA to automate manual tasks.
• Free your team to focus on analysis and action - not administration.
• Streamline financial close processes and enable compliant reporting.

Put sustainability at the forefront

• Supply financial insights using data and analytics tools that help managers track and manage sustainability goals.
• Embed environmental, social, and governance dimensions to financial reporting.
• Address compliance reporting with auditable instant analysis.

2. Constant improvement

Finance leaders are taking a bigger role in their organisation, driving innovation and improving deep into underlying processes to continuously drive results for their businesses. Start with fast and flexible finance and accounting in the cloud.

Prioritise optimisation opportunities

• Get instant analysis of your financial processes, activities and tasks.
• Compare your performance to industry benchmarks.
• Solve complex business challenges with pre-built, Al-driven processes for finance, sales, customer service, procurement, and HR.

Shift to continuous or 'soft' finance closing

• Integrate planning, accounting transactions, and legal and management consolidation all in a single ERP system.
• Bring together financial, people, and operational data in a single interface.

Sharpen business performance

• Transform business models and decision-making.
• Calculate cycle times, resources, and costs through testing scenarios.
• Uncovering and opening up process bottlenecks.

3. Lock in on Success

Bring your finance and accounting function to the cloud. Enjoy the efficiency and constant innovation with it. Stepping up to a next-gen cloud ERP system might not an overnight affair but you don't have to do it alone. 

Rely on a guided journey

• Get custom evaluation tools, plus tailored transformation and deployment services.
• Move to the cloud efficiently using pre-built content and proven process excellence.
• Protect your implementation with embedded cybersecurity such as Protect4S automated security.

Scale on your schedule

• Rest assured that your solution will grow with you for every business and regulatory requirement.
• Scale in the future as you add new markets, new languages, new lines of business, and more.

Manage compliance all over the world

• Run mission-critical operations at a global scale.
• Meet international compliance, ever-changing regulations, and evolving taxation rules.