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Perspectives

CFOs and the digital transformation of finance

Finance in a digital world: It’s crunch time!

The CFO’s guide to cognitive technology

Cognitive technologies have been adopted in other areas of business, inspiring finance to start learning about them, experimenting with them, and figuring out how to use them to transform the finance function. The goal, as with any finance technology initiative, is to create a more efficient, insightful, and controlled finance organisation.

The CFOs guide to cognitive technology provides insight into how and where cognitive technologies can play a role in the digitisation of finance. Many finance leaders are already devoting significant resources—financial and human—to deploying new technologies in these early days of cognitive computing, however it’s important to remember that these technologies don’t stand on their own. There is no Internet of Things or blockchain without cloud computing. There is no cognitive pattern matching without advanced analytics. These technologies build on one another. And what do they build into? Faster and better ways of getting work done.

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Digital disruption: New challenges, new tools

From cloud computing and robotics to analytics, artificial intelligence and automation, a new class of digital disruptors is transforming the finance function. No matter what future you see ahead for your finance function, one thing is sure. If finance and business leaders are going to compete in the digital world, they will need to process more information more efficiently, and turn that information into actionable insights faster than ever. It will likely require new technology – and a group of people who are curious and skilled in using it.

Deloitte's report, Crunch time: Finance in a digital world—based on extensive research and in-depth interviews with CFOs of global businesses—explores the various disruptors and the impact they will have on the transformation of finance. CFOs talk off the record is a 2nd instalment of the series. Based on interviews with finance leaders, this report explores thoughts and experiences around a broader discussion of finance and what it means to make the digital journey.

Digital tools for CFOs

Some of the new digital tools available to finance focus specifically on updating core systems and existing capabilities. Other tools, "exponentials", are designed to deliver new and different capabilities. Together, they form a toolset finance can use to improve its own performance and serve the business more effectively, especially when they are used together. 

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Digital tools for CFOs
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