everis helps organizations rethink their operating model to aid the decision-making process and transform strategic intent into results by bridging the gap between the finance function and the business strategy
Looking ahead, continuous market changes spearheaded by digital technologies, advances in artificial intelligence and robotics in the last few years clearly show that organizations must be prepared for surprises and be ready to move in directions that are often difficult to predict. This scenario not only requires defining an operating model adaptable to this rapid pace of change, but also aligning it to the business strategy in order to meet these future challenges.
With organizations in a constant state of flux, this alignment is critical. Therefore, operating models must continually evolve to accommodate new and innovative business models arising from disruptive technology strategies that require more agile ways of working to address risk and seize new opportunities.
Not surprisingly, Finance is facing growing pressure to pioneer this evolution by effectively aligning investment in new technologies with the business strategy and core finance function to drive finance transformation. The changing market dynamics and forces have pushed finance executives to shift their focus from number crunching to reshaping the finance function. This involves taking on a more strategic role as business planners and technology evangelists, looking beyond traditional financial reporting and responding faster to the increasingly complex market reality marked by rapid change and higher volatility on a global scale. As a result, organizations are realigning talent in finance teams to new priorities, evolving their traditional role to one of business partnering.
Therefore, redefining the operating model cannot be taken lightly, but rather requires change across the organization to translate strategic intent into tangible results by providing a clear direction.
Bridging the gap between finance and strategy
An operating model is a high-level visual representation of how an organization does business and delivers value to its internal and external customers today (“As Is”) and how it will work in the future (“To Be”). Organizations use operating models as a tool to help them formulate and execute their business strategy. They are essentially a blueprint for achieving their objectives and meeting future challenges.
At everis we know that implementing a well-defined and articulated operating model that will aid the decision-making process to achieve the organization’s strategic objectives is paramount to address this business transformation and avoid the risk of misalignment.
Redefining the operating model requires transformation at organizational, process and technology level through a cross-functional approach that affords a wide-angle view of the entire organization, including people, processes, governance and IT. It involves creating a participatory framework of perfectly defined processes, activities and tasks where each role has clearly assigned activities and tasks and aligning them with the business strategy.
Therefore, it is of utmost importance to assess the current situation to:
Our specialized team of professionals, experts in digital finance transformation, combined advanced methodologies, facilitation and experience to help the organization achieve its goals using proven methodology:
Phase 1: Discover
Data Science. Various technologies which, combined, process data, learn from them and act accordingly, imitating the operation of a human brain.
Chatbot. Technology that allows a user to hold a conversation with a computer program.
OCR. Optical character recognition software that facilitates the digitisation and subsequent use of documents.
RPA. Technology developed with the objective of replicating human actions in routine computer processes.
Blockchain: Technology aimed at expediting financial transactions, enabling fast and secure cross-border transactions between banks, guaranteeing transparency and auditability, and improving relations between financial institutions.
Phase 2: Define
Phase 3: Design
The organization’s core technology was based on its ERP (JD Edwards). However, after the initial evaluation and benchmark established in the first phase, we identified the need for an agile solution that would support business growth while adapting to the situation of the different types of subsidiaries:
- Subsidiaries undergoing consolidation where all the back-office processes are centralized with the ERP and technologies, controlled by the parent.
- Subsidiaries undergoing transition and which may have some centralized processes and technologies, but not necessarily controlled by the parent.
- Subsidiaries undergoing expansion and which are fully independent of the parent and have their own processes and technologies.
Therefore, we proposed deploying JD Edwards to Oracle Cloud to achieve greater:
- Scope. Flexible standards-based scope.
- Predictability. High predictability of development, service and maintenance costs based on usage.
- Efficiency. Exponential improvement of operating process efficiency.
- Success. Measurable guarantees of success.
- ROI. High return on investment.
- Cashflow. Maximization of effective cashflows.
- Savings. On increased efficiency.
- Agility. Quick response to changes without IT bottlenecks that could lead to disruption of day-to-day operations.