Digitization of the Finance Function

Embracing change is inevitable today for businesses to succeed. Moreover, digitalizing their core business activities and staying upbeat with the recent technological advancements while implementing them is imperative to scale growth.

To elaborate more on this topic and the role of CFOs, Nexdigm organized a webinar where our speakers discussed the importance of digitalizing the core finance functions, its positive impact, and how CFOs and businesses should approach this journey with our webinar host Marc Lessem, Senior Director, Business Services, Nexdigm.

Vivek Tewari, Executive Managing Director, Business Process Management, Nexdigm, began the webinar session where he spoke about why digitalization of the finance function today is necessary and stressed how age-old problems beyond the finance functions and across various industries can be addressed and eliminated with technology.

Marc then introduced Carolyn Gomez, CFO, Goodheart-Willcox and Frank Cesario, CEO, Yunhong CTI Ltd to discuss and share their views, experiences, and opinions on how and why businesses must accelerate their journey towards digitalization of core finance functions.

While sharing her views, Carolyn mentioned how implementing technology could help businesses reduce mass manual processes, source data in real-time, and bring in strong efficiency in business operations. She also stated business leaders must leverage people with technology and help them focus on high-value tasks while Frank accentuated why CFOs must strive to adapt to continuous technological advancements and must keep investing in efficient technology-driven tools.

At the end of the webinar, a Q&A session was held with the speakers regarding factors driving the digitalization of finance functions, the role of CFOs, how to execute a smooth transformation process, and the impact of Artificial Intelligence (AI) and Machine Learning (ML) on businesses.