Re-inventing Finance as an Integral Part of the Digital OneOffice

10 critical success factors to bring finance out of its back-office relegation

Infosys BPM and HFS Research are excited to present this research study, offering a nuanced view into the new demands from the finance organization, the challenges in designing and delivering on finance transformation initiatives, getting in front of pandemic-related disruption, and ultimately providing a view into the emerging best practices to elevate finance as a strategic business driver.

Drawing insights from global survey data and first-person interviews, this research reflects the perspectives of hundreds of enterprise finance leaders worldwide, as well as HFS Research and Infosys BPM, thought leaders, and global luminaries. CFOs are performing a balancing act in this volatile environment, ensuring business liquidity as well as keeping things moving on operational transformation.

HFS, in partnership with Infosys BPM, reached out to 250 finance executives around the globe and across industries in Q1 and Q2 2020 to understand the future of finance. The study was augmented by 92 additional respondents during Q3 2020 to understand the impact of COVID-19 on finance organizations. This report highlights these enterprises’ responses to the pandemic and the evolution of the finance function’s priorities as it becomes more strategically valuable to the business.

The top 5 critical success factors in order of investment priority are:

  • Cognitive automation of transactional F&A powered by applied AI and intelligent analytics
  • Creation of the Finance OneOffice with internal alignment to bring finance out of its back-office relegation
  • End-to-end data management to sense, comprehend, adapt, and recommend for better decision making
  • Integrated technology architecture that replaces the patchwork of technologies prevalent across F&A operations today
  • Creative and specialized finance talent focused on adding value, not just processing transactions

Click here to read more such success factors, and the full study.