Digital Finance - Liberation from the Tyranny of the Spreadsheet
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DIGITAL FINANCE
LIBERATION FROM THE TYRANNY OF THE SPREADSHEET
Lee Naik - Managing Director, Accenture Digital
@naikl
linkedin.com/in/naikl
Copyright © 2016 Accenture All rights reserved. 2
NEW BUSINESS IMPERATIVES ARE EMERGING
SIMPLIFICATIONECONOMICS DIGITISATION GLOBALISATION INTEGRATION
Copyright © 2016 Accenture All rights reserved. 3
SO
WHAT DOES
IT MEAN FOR
FINANCE AND
THE CFO?
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
REQUIRING A NEW OPERATING MODEL
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<DIGITAL
<ELEVATES
FINANCEINSIGHT ENGINE FOR THE
BUSINESS, COMPRISED OF
THREE ESSENTIAL ELEMENTS
Analytic
competency
centers
Integrated business services
Communications
and control center
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
Copyright © 2016 Accenture All rights reserved. 7
A NEW TALENT PROFILE WILL BE REQUIRED
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DATA SCIENTIST ANTHROPOLOGIST
PSYCHOLOGIST
QUANTITATIVE MATHEMATICIAN
ENGINEER
PHILOSOPHER
FINANCE 2020
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
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
THANK YOU
Lee Naik - Managing Director, Accenture Digital
@naikl
lee.naik@accenture.com
linkedin.com/in/naikl
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