Digital transformation brings overdue innovation to accounting
To achieve both below-the-line and above-the-line goals, today’s CFOs must centre their efforts on automation, integration, and simplicity, says Jason Bloomberg, president of Intellyx. Accounting is simply too complex to depend on manual effort. Instead, automation drives efficiency and accuracy while simultaneously shifting the finance department’s day-to-day work from routine tasks to more valuable ones. However, technology must work within the context of the ERP technologies in place, as well as any other software relevant to the duties of the CFO’s office. Automation and integration won’t facilitate the strategic goals of digital transformation, though, if the organisation doesn’t also achieve simplicity. After all, the reason accounting requires disruption in the first place is because it is becoming too complicated, and with complexity come inefficiencies, inaccuracies, and in the end, poor business value.