Finance Digital Transformation

How Finance Leaders are Embracing Digital Transformation

There is a direct link between finance digital transformation and agile business practices, swift decision-making and more efficient reporting, planning and financial close. Finance transformation makes it easier and faster to make more informed strategic decisions. It automates manual processes while reducing human error.

The CFO Indicator Survey 2020 asked 225 CFOs from global organizations of different sizes about their current and future plans for finance digital transformation. Among the findings:

  • 15% have fully implemented a small number of digital transformation initiatives
  • 40% have fully implemented many digital transformation initiatives
  • 34% have piloted some digital transformation initiatives
  • 10% have not implemented any digital transformation initiatives but this is likely to change within the next 12 months
  • 1% have not implemented any digital transformation initiatives and this is unlikely to change within the next 12 months

This report details the findings that highlight both the challenges and opportunities of digital finance transformation.

Download the full CFO Indicator Survey Report.


What is finance digital transformation?

Finance digital transformation is the implementation and use of digital technologies, such as the cloud, machine learning and augmented analytics for finance processes two improve efficacy, insight and agility. Upskilling and change management are essential success factors.