Digital Orchestration, Not Only Automation, is the Real Triumph
CFOs orchestrate next-gen digital levers to transform finance and accounting
The role of finance and accounting (F&A) has evolved significantly over the past few years. Previously viewed just as a cost center, it is now considered a strategic function, finds an Everest Group study commissioned by TCS.
This report shares insights on how the orchestration of next-generation digital levers drive the transformation of F&A processes, enabling CFOs to meet rising expectations. While the wide adoption of robotic process automation (RPA) has reduced cost of operations by 20–25%, it alone cannot make the process intelligent. It needs to be orchestrated with next-generation digital levers, enabling organizations to achieve long-term value.
Going beyond automation, the orchestration of the following digital levers enables CFOs to realize the full benefits of F&A transformation and deliver superior impact:
- Analytics: Predicts meaningful insights by leveraging internal and external data
- Cloud: Reduces process cycle times significantly by combining digital solutions with mobility
- Artificial intelligence: Elevates user experience by leveraging cognitive machine learning capabilities for smart F&A processes