Digital Finance Strategy methodology
A launching point for your Finance organization’s digital journey
Our Finance in a Digital World™ Lab Series immerses Finance leaders on a journey focused around the implications of digital for Work, the Workforce and Workplace, from visioning to roadmap. The result? A clear and aligned path toward a digital transformation of the Finance function.
Digital is not coming to Finance, it is already here
Digital Disruptors are emerging sooner and peaking faster than initially anticipated. Multiple use cases exist – the key is understanding how they can create specific value for your Finance function in multiple ways. While your Finance organization has probably taken proof of concept steps to implement RPA and is considering applications for in-memory computing, advanced analytics and visualization, the pace of change suggests a need to rapidly assess and commit to a Digital strategy, ultimately leading to a digital Finance transformation roadmap.
Digital Finance Transformation at Deloitte
Digital Finance Strategy methodology
With Finance’s work and workforce becoming each day more influenced by and dependent on new technologies, our Digital Finance Strategy methodology serves as guidance for organizations to build a solid foundation for their digital journey. The methodology is anchored in a series of Finance in a Digital World™ (FDW) Labs that assess the opportunities in the Finance function, using the Work, Workforce and Workplace framework. Although the six Labs can be independently executed, when delivered together they provide the core building blocks to serve as a launching point for your Finance organization’s digital journey.
Our FDW™ Labs will demystify…
- The art of the possible: How are digital disruptors transforming Finance? What are the future state possibilities?
- Vision: What are our aspirations for Finance? What gaps do we want to address?
- Work: What work is done in Finance in the future? What is our target Operating Model?
- Workforce: Who does the work and what skills do they need? How will we access and develop those skills within Finance?
- Workplace: How do we enhance the workplaces where work is done? How do we build a culture that enables the digital journey? How do leaders successfully lead the digital transformation?
- Roadmap: What are our priority initiatives? How should we mobilize?
Digital Maturity Assessment Tool (DMAT)
When embarking in this Digital Finance Strategy journey, it is crucial to understand the level of maturity of your Finance organization and leverage data to anchor our reasoning. DMAT (Digital Maturity Assessment Tool) for Finance, a Global future-proof digital survey to assess your digital Finance capabilities, will allow you to:
- Set the emerging technology focus (RPA, Cognitive, Visualization, Cloud, Blockchain)
- Understand your current maturity level (on Work, Workforce and Workplace) vs all emerging technologies
The outcome of this assessment provides you with a starter blueprint, enabling the identification of opportunities to digitize Finance.
The time is now
With the adoption of Digital disruptors, aspirational Finance operating models are becoming a reality. Given a continued focus on operating efficiency, the time to make bold plays is now. Using our proven Lab-based methodology, we will work together to:
- Envision the future state of your digitized Finance organization
- Identify and prioritize feasible initiatives to achieve the vision
- Develop a roadmap of specific, measurable actions to accelerate towards the vision and mobilize to begin implementation
Pending availability, we will ensure your Lab journey will take place at our Deloitte Greenhouse spaces to break away from business as usual. Keen to learn more? Check our predictions for Finance in 2025 in Crunch time V and feel free to contact us using the information below.