How can CFOs make the most of the digital transformation? What are the success factors in financial process automation? Where to start?

1. IMPROVING AND AUTOMATING
FINANCIAL PROCESSES
WEBINAR: DIGITAL TRANSFORMATION FOR CFOS

2. Henri Taipale
CEO and founder
Qvalia
Digital
transformation
for CFOs

3. WE ARE QVALIA
Improving and automating financial processes
Nordic leader in transaction analysis
Transaction insights Automation technology
€ 200 billion analysed annually
Stockholm Copenhagen Helsinki Oslo
ABOUT US

4. FINANCIAL
INFORMATION
ARCHITECT

5. WHAT IS DIGITAL
TRANSFORMATION?

6. Digitisation
Digitalisation
Digital transformation
DEFINITIONS
Analysing...

7. CURRENT STATE OF DIGITAL TRANSFORMATION - GLOBAL PENETRATION
100%
75%
50%
25%
0%
1995 2000 2005 2010 2015
Internet
Smartphones
Source: A16Z

8. CURRENT STATE OF DIGITAL TRANSFORMATION - GLOBAL PENETRATION
100%
75%
50%
25%
0%
1995 2000 2005 2010 2015
Internet
Smartphones
Source: A16Z
E-commerce

9. CURRENT STATE OF DIGITAL TRANSFORMATION: RETAIL E-COMMERCE IN THE NORDICS
Source: Postnord, Invest Stockholm
40%
25%
22%
12%
Sweden
Denmark
Norway
Finland
€ 21.7
billion
38%
20%
23%
19%
Sweden
Denmark
Norway
Finland
€ 195,3
billion
E-commerce
Total retail market

10. CURRENT STATE OF DIGITAL TRANSFORMATION: RETAIL E-COMMERCE IN THE NORDICS
Source: Postnord, Invest Stockholm
40%
25%
22%
12%
€ 22
billion
38%
20%
23%
19%
€ 195
billion
E-commerce
Total retail market
36%
26%
21%
17%
Sweden
Norway
Denmark
Finland
Total GDP
€ 1.342
billion

11. NEXT 20 YEARS OF DIGITALISATION
First 20 years Next 20 years

12. NEXT 20 YEARS OF DIGITALISATION
• Digitalisation of simple
business models
• Information arbitrage
• Hardcoded automation
• On-premise solutions
First 20 years Next 20 years

13. NEXT 20 YEARS OF DIGITALISATION
• Digitalisation of simple
business models
• Information arbitrage
• Hardcoded automation
• On-premise solutions
• Digitalisation of complex
business models
• Vertical integration
• Data – most valuable asset
• Automated ecosystems
First 20 years Next 20 years

14. EXAMPLE: GIG ECONOMY

15. EXAMPLE: MANUFACTURING

16. EXAMPLE: FINANCE DEPARTMENT

17. SO WHAT?

18. ARE YOU SUCCESSFULLY EXECUTING ON DIGITAL STRATEGIES?
Source: Wipro
Yes
No

19. CFOS AND DIGITAL TRANSFORMATION
Source: Wipro, IFS
In the leadIncrease
investments
Use Excel as
work-around

20. WHAT IS YOUR
OBJECTIVE?

22. WHAT ABOUT
ACCOUNTING?

23. Source: Qvalia
CFOS AND DIGITAL TRANSFORMATION
98%
Repetitive
New

24. Source: Qvalia
30%
Invoice doesn't
match order
EXAMPLE: INVOICE ERRORS

25. Source: Hackett Group, Qvalia
€ 234 billion
Capital loss in EU due to
dispute management
0,017%
Average cost of
dispute management
WHAT IS THE COST?

27. WILL TECHNOLOGY SOLVE THE PROBLEM?
Robotic Process
Automation, AI,
Machine learning

28. WHY?

29. Accounts
Payable
Procurement Production
Accounts
Receivable
INPUT
From various
formats
OUTPUT
Into various
formats
THE TRANSACTIONAL PROCESS

30. IT
Accounts
Payable
Procurement Production
Accounts
Receivable
INPUT
From various
formats
OUTPUT
Into various
formats
THE TRANSACTIONAL PROCESS

31. IT
Accounts
Payable
Procurement Production
Accounts
Receivable
INPUT
From various
formats
OUTPUT
Into various
formats
THE TRANSACTIONAL PROCESS

32. Accounts
Payable
Procurement Production
Accounts
Receivable
THE TRANSACTIONAL PROCESS
Transaction
Structure
Approval

33. DATA
CATEGORISATION

34. IMPACT ON THE
CFO

35. FINANCIAL
INFORMATION
ARCHITECT

36. THE NEW CFO
• Data oriented
• Operational
• Business development

37. DIGITAL TRANSFORMATION IN PRACTICE
Getting started

38. GETTING STARTED
DATA
QUALITY
STRUCTURE
SCALE
Take control of
your data.
Map and assess.
Enhance
data quality.
Know your
stakeholders.
Categorise
data.
Develop and
align processes.
Refine and
automate.
Develop and scale
through control.

39. 1. Define your financial
vision
Align with long-term corporate strategy
ü Customer behavior
ü Ways of working

40. 2. ASSESS YOUR DATA
What data does your organisation actually
require?
ü What is analogue, digital?
ü How does the input look like?
ü How is it updated?

41. 3. CREATE A ROADMAP
Define minimum viable step
ü Create a timeline
ü Small incremental improvements

42. LOW
IMPACT
LOW
EFFORT
HIGH
EFFORT
HIGH
IMPACT

43. LOW
IMPACT
LOW
EFFORT
HIGH
EFFORT
HIGH
IMPACT
Change ERP
E-invoice adoption
Reorganisation

44. SUMMARY
1. Accounting is data categorisation
2. Focus on data, not systems
3. Take small steps, avoid big leaps

45. Questions?
henri.taipale@qvalia.com
+46 70-4977988
Download:
https://qip.to/ebook
Learn more
CFO’s Guide to
Business Automation

46. Thanks!
henri.taipale@qvalia.com
+46 70-4977988
Download:
https://qip.to/ebook
Learn more
CFO’s Guide to
Business Automation

47. Helping organisations
take control of their data
and automate their
business
qvalia.com