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Finance Leaders as Growth Catalysts : Shifting Gears to Drive Digital Transformation

From reimagining the finance function by adopting emerging technologies to being growth catalysts, the role of the CFOs is evolving. As strategists, they are building future-ready, Business 4.0™ enterprises, adopting Machine-First™ and agile business

 
How the CFO can be a Catalyst for Change
CFO as a Digital Transformation Leader

Digitally Enabled Integrated Business Planning

For companies to survive and ultimately thrive amidst evolving digital technologies and new business models, agility is needed. Finance is often considered a key driver to enable enterprise agility. Leading organizations have leveraged integrated business planning (IBP) as a proven approach to address this, creating an adaptive enterprise-wide planning process, linking strategic, financial and operational planning. Through this planning process finance can synchronize targets and deliver on the desired business outcomes.

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CFOs are now leveraging Artificial Intelligence (AI) to gain strategic insights that enable improved decisions and streamlined reporting

Artificial Intelligence (AI) and high-level data analysis help improve performance and provide the CFO an expanded view beyond traditional reporting. They deliver driver-based planning, rolling forecasts and improved what-if analysis for insightful decisions that support business strategy. CFOs of leading organizations are leveraging AI to harness the abundance of data to be better informed and future-ready.

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AI to enable improved decisions

Automation, predictive analytics and a Machine First™ approach enable risk and compliance strategies that help drive top-line growth in today’s Business 4.0™ world.

Leadership in risk and compliance need risk-intelligent strategies designed to contribute to top-line growth and optimization of working capital. They recognize the need to move from responsive to automated and leverage predictive analytics to drive reliable insights that enable CXOs to make informed decisions. These efforts can support the long-term vision to establish and streamline organizational strategies based on business and regulatory changes.

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AI to enable improved decisions

Enterprises are leveraging mergers and acquisitions (M&A) to build new capabilities for futuristic growth and realize their vision in a Business 4.0™ era.

Mergers and acquisitions (M&A) are enabling enterprises to drive cost and revenue synergies. Today’s Business 4.0TM world offers expanding technologies, efficient business platforms and collaborative ecosystems. These present promising opportunities to enable and develop capabilities that fuel growth.

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AI to enable improved decisions

Agility, Efficiency & Impact : How CFOs Are Leveraging Digital Finance to Deliver Unsurpassed Value and Achieve Strategic Enterprise Goals

Digital enablers help finance leaders beyond streamlining cost efficiencies. They help deliver real-time data for more informed, strategic decisions about products, services, customers, and employees. Armed with the right insights, the CFO can be at the forefront, leading decisions that impact the customer journey and identifying and leveraging new business models to drive growth.

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AI to enable improved decisions

Back From the Future: How Finance Leaders Can Drive Transformation.

TCS recently partnered with CFO Magazine on research with 689 Global CFOs and Senior Finance executives and uncovered how the CFO role is evolving in the Business 4.0 and Digital Finance landscape. Finance leaders are now actively focused on adopting a Machine-First Model, aligning human skills and technological advances along with new digital strategies and agile methods in order to support growth for their businesses.

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AI to enable improved decisions

CFOs Redefine Art of the Possible

Finance Execs have started driving ambitious digital initiatives. On the digital battlefield, the speed at which companies differentiate, and keep differentiating, themselves is a potent “weapon.” As CFOs sort through the ever-evolving technical challenges, they must also confront the managerial challenges involved in enabling and scaling digital innovation, including:

  • Allocating resources
  • Recruiting talent who can drive technical advances
  • Aligning functions such as marketing and product development

The new digital mandate requires that they make strategically selective investments. Finance Execs need to be prepared to weigh the value of new and mature technologies.

Gain insight into assessing technologies.

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AI to enable improved decisions

To Support Digital Growth, Finance Chiefs Adopt a Machine-First Model

Senior finance executives now serve as proponents of cultural change, promoting an environment that supports real-time decision-making and collaboration with investments in technology. By adopting a Machine-First Model for delivery, finance executives can seamlessly merge human and machine effort to sharpen business differentiation and drive the company toward making unparalleled gains.

Learn the 4 Finance Areas Impacting Growth.

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AI to enable improved decisions

Finance Chiefs are the new Catalysts for Growth

As CFOs now hold the new role of the ‘Explainer and Chief’ they require the data and insights to articulate changes in the customer base and marketplace and define how it should be looking at the business. In this role they are becoming the catalysts for growth, actively adopting strategies, technologies, and agile business models.

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AI to enable improved decisions
CFO as Digital Transformation Leader - Infographics

2018 CFO Research survey of senior finance executives from these countries, conducted in collaboration with Tata Consultancy Services.

Business 4.0 US CFO Digital Transformation Leader
Business 4.0 UK CFO Digital Transformation Leader
Business 4.0 German CFO Digital Transformation Leader
Business 4.0 Swiss CFO Digital Transformation Leader
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