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Digitalisation de la finance : bien plus qu’un générateur de profit pour les grandes entreprises

much more than a profit generator for large companies

The digitization of the finance function has become a priority for many organizations. This trend, already visible before the appearance of the Covid-19 epidemic, has become unavoidable with the pandemic and the upcoming deadlines for electronic invoicing. The digitization of processes is no longer the prerogative of large companies, and its development has greatly accelerated in SMEs and ETIs.

The digitization of finance continues. According to a study by the Opinium polling institute (1), before the 2020 pandemic, 44% of large French companies had invested in the digitalization of their financial and supply functions. 25% started doing this during the pandemic and 25% are currently digitizing their processes.

The study also reviews the major investments of companies in five key financial functions: supplier management, contract management, resource and process planning (ERP), accounts payable (including the dematerialization of invoices) and document management.

Interpreting the results of the Opinium study, we see that digitizing functions is the most effective way to manage cash flow, protect margins and control expenses.
As we navigate a time of crises – including geopolitical and economic – and shifts in traditional business models, these elements are critical to the success of finance teams. The three most common reasons companies have invested in finance-related functions are to cut costs and seek efficiencies.

The Opinium study also highlights new trends that demonstrate the added value of digitizing finance functions:

1. The digitization of financial processes supports growth

Digitized financial systems are highly valued for their ability to evolve and progress an organization. Worldwide, one in six companies has digitized its financial processes to promote growth, improve performance and increase competitiveness.

2. Modern systems attract talent

In a context of global shortage of talent in the field of finance, digital solutions have become essential. So much so that one in seven companies specifically invested in digitizing their finance functions to ensure they could attract top talent and compete.

3. From finance to science: how finance became a hub of structural change

Process improvement solutions such as ERP and expenditure management have two major impacts on companies: they free up employees’ time to let them act more strategically, with better analysis of performance and costs; and they improve the accuracy of the data available to decision makers. Cutting-edge solutions in this area are increasingly agile and specialized, allowing companies to find the solutions that best meet their needs. Globally, 45% of large companies will invest more than 5% of their turnover in the digitalization of their ERP and purchasing/finance management solution this year. Nearly one in ten will invest more than 10% of their turnover. This is an important proof of confidence in the digital transition towards this type of solution and it demonstrates the value now placed on financial teams.

4. Legacy systems are a major impediment to financial performance

21% of large French companies cite the complexity of existing systems as a barrier to growth. They represent one of the biggest risks finance teams face that can impact a company’s financial condition. Additionally, around one in eight companies that have invested in digital transformation have not found the process easy.

Many CFOs will recognize themselves in these trends. The more their functions are automated, the more their time will be devoted to finding information and making strategic decisions to better serve their organization.

Moreover, time will accelerate these automations. The digital transformation of finance brings real-time intelligence, and makes it possible to adjust approaches at the moment T, rather than at the end of the quarter or the year. The benefits of this digitalization will materialize quickly: more and more large companies are investing significant capital in technologies that promote rapid market evolution.



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