Transforming finance from a cost centre to a value centre

Digital transformation has forced entire industries to change how they operate and altered most functions within organisations—from the manufacturing floor to the retail shelf. But for many organisations, innovation hasn’t transformed the finance department, where there’s still too much time-consuming data entry, too many manual processes, and too many crumpled receipts, stapled invoices, and outdated spreadsheets that accountants must pore over.

This Harvard Business Review Analytic Services paper explores the value of automating financial processes, such as expense and invoice processing. Besides outlining what digital transformation means for the finance function, it will quantify the benefits, discuss the challenges, and provide steps for companies to overcome roadblocks and help transform their organisations.

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