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Digital Finance - Liberation from the Tyranny of the Spreadsheet

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My keynote presentation from the Finance Indaba event hosted by CFO South Africa

Published in: Leadership & Management

Digital Finance - Liberation from the Tyranny of the Spreadsheet

  1. 1. DIGITAL FINANCE LIBERATION FROM THE TYRANNY OF THE SPREADSHEET Lee Naik - Managing Director, Accenture Digital @naikl linkedin.com/in/naikl
  2. 2. Copyright © 2016 Accenture All rights reserved. 2 NEW BUSINESS IMPERATIVES ARE EMERGING SIMPLIFICATIONECONOMICS DIGITISATION GLOBALISATION INTEGRATION
  3. 3. Copyright © 2016 Accenture All rights reserved. 3 SO WHAT DOES IT MEAN FOR FINANCE AND THE CFO?
  4. 4. 4 THE MOVE TO VALUE-CENTRIC DIGITAL FINANCE Financial Planning & Budgeting Corporate Performance Management Enterprise Performance Management Digital Finance Digitally Powered • BUDGETS • FORECASTS • ACTIVITY BASED • KPI’S • BUDGETS • FORECASTS • ACTIVITY BASED • KPI’S • DRIVER-BASED FORECASTING • SCENARIO & CONTINGENCY PLANNING • INTEGRATED EPM • ANALYTICS • PREDICTIVE • VALUE-CENTRIC 1950 – 1990 1990 – 2000 2000 - Today Finance 2020
  5. 5. REQUIRING A NEW OPERATING MODEL Copyright © 2016 Accenture All rights reserved. 5 <DIGITAL <ELEVATES FINANCE INSIGHT ENGINE FOR THE BUSINESS, COMPRISED OF THREE ESSENTIAL ELEMENTS Analytic competency centers Integrated business services Communications and control center
  6. 6. Copyright © 2016 Accenture All rights reserved. 6Copyright © 2016 Accenture All rights reserved. 6 Tuesday Wednesday Thursday Friday Monday Data Collection Data Collection Maintaining Spreadsheets Maintaining Spreadsheets & Developing Reports Developing Reports, Performing Reports & Other Activities Data Collection & Performing Analysis Performing Analysis Interacting with Decision Makers Personal Development, Strategic Initiatives & Other Activities Interacting with Decision Makers ENABLING OUR LIBERATION
  7. 7. Copyright © 2016 Accenture All rights reserved. 7 A NEW TALENT PROFILE WILL BE REQUIRED Copyright © 2016 Accenture All rights reserved. 7 DATA SCIENTIST ANTHROPOLOGIST PSYCHOLOGIST QUANTITATIVE MATHEMATICIAN ENGINEER PHILOSOPHER FINANCE 2020
  8. 8. Copyright © 2016 Accenture All rights reserved. 8Copyright © 2016 Accenture All rights reserved. 8 Calendar-based Exhaustive Targets Backward looking Budget Variance analysis Paper/spreadsheet format Accounting-centric Event triggered Exception-based Scenarios Forward looking Forecast Decision analysis Multi-channel/mobile Decision-centric Results Drivers From Traditional … … to Digital Finance FINANCE 2020 WILL DEFINITELY BE DIFFERENT
  9. 9. Create integrated service offerings Copyright © 2016 Accenture All rights reserved. 9 THE ROAD TO FINANCE 2020 Copyright © 2016 Accenture All rights reserved. 9 Define your finance organization’s value proposition Develop your vision Determine the core capabilities you need Get the right people in the right place 1 2 4 3 5
  10. 10. THANK YOU Lee Naik - Managing Director, Accenture Digital @naikl lee.naik@accenture.com linkedin.com/in/naikl

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