Why is the CFO NOT driving Digital Transformation?
To what extent is your CFO driving Digital Transformation? There are 5 key reasons that they need to be.
Many public companies are struggling to see the investment return from expensive transformation initiatives. One of the lessons we have learned is that success in digital transformation is, counter-intuitively, not primarily based in the technology. Some of the keys turn out to be;
- Identifying the key desired business outcomes (not as easy as it sounds!)
- Sustaining a unifying case for action
- Rethinking global processes
- Driving behavioral change, internally and externally
- The psychology of digitally enabled relationships
With a “carnival of stakeholders” in the mix when it comes to an organization’s digital reinvention; as the bottom line executive, the CFO’s role is often ignored.
This can be a big mistake. The CFO is crucial as a leader, not just stakeholder, in digitization.
Does anyone understand the overall interconnected business better?
Sanjay Purohit of Accordion Partners identifies 5 key reasons to drive digital transformation through and from the CFO. It’s definitely worth a brief read here
It may just be that the keys to your future “Digital Kingdom” are in the hands of your CFO!