What Drives World-Class A/R Performance?

What should your digital transformation initiative focus on?

It is beyond the point where companies are able to debate whether or not to initiate digital transformation. The question is whether someone disrupts using digital transformation or get disrupted by someone else?s digital initiatives. To start with the digital transformation journey, finance execs should consider heavy investment in the following areas: Automation of clerical repetitive tasks across C2C Core automation means that costs are low and effort is allocated in the right tasks Single, integrated platform More effective in delivering services to internal and external stakeholders AI-driven automation technology Low-error rates in tasks Integrated reporting and analytics Better decision making and insight Using big-data and machine learning Improved outcomes of A/R actions – faster, more effective collections

Conclusion

Digital transformation can play a major role in helping peer-group organizations catch up with their world-class competitors. But the reality is that the definition of world-class will continue to evolve as leading finance functions deploy smart technologies to transform themselves. Thus, the quest for achieving world-class status never ends. Its future will require continuous improvement of cost structure, effectiveness and stakeholder?s perceptions of how finance adds value to the performance of the enterprise.