Transformation – it’s a term that has been used for many years to describe any changes being adopted in businesses to make them more effective and efficient.
In the case of finance transformation, it’s often talked about in terms of re-engineering people, processes and systems to reduce costs, reduce cycle time, and make finance more strategic, ‘transforming’ it from a back-office scorekeeper function to a true business partner to the CEO and to the organization.
This topic is so broad, I’ve divided the information into two articles. In this part, I touch on the traits of modern CFOs, then define finance transformation vs modernization and how the two work hand-in-hand.
You can read the full text of this article as published on Business and Finance.