Transforming While Transacting: Budgeting and timing for digital transformation has been saved
Transforming While Transacting: Budgeting and timing for digital transformation
How and when to transform
Digital transformation both affects and requires all capabilities of a company. Often forgotten is the CFO role and how it can impact and accelerate the process of transforming while transacting. In this episode of Transforming While Transacting, we connect with Marie Myers, the CFO and one-time chief transformation officer of HP, on her unique experience, thoughts, and perspective about how to budget and plan ahead.
Marie Myers, HP CFO and former chief transformation officer, shares how—and when—to transform.
Whether a company undergoes a transaction or not, transformation is a systemic and complex challenge. It’s hard to wrap one’s head around all the systems and beliefs that need to change because often so much is unknown. To complicate it further, it’s even harder to budget for the unknown.
HP CFO Marie Myers taps her deep cross-functional experience to reveal how to budget for the unknown; she also provides astute insight into quantifying the value—or risk—of not transforming. In a testament to the high expectations from transformation and the very real responsibilities of officers and employees of a company, she shares how and when to budget time and financial resources (and how much) in the push to transform.
You have to budget for the unknowns. … The one area that we typically tend to underinvest in is management of change. And I cannot underscore how important management of change is in a digital transformation. It’s frankly almost at the heart of success. And if you start management change too late, you’re just going to make it a lot harder on yourself. So fund it right from the beginning, and embrace it, and make it part of your transformation journey.
– Marie Meyers
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