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6 Ways IT Can Improve Financial Agility

  • 6 Ways IT Can Improve Financial Agility-

    Review Finance Processes Regularly

    Fewer than 50 percent of organizations have reviewed their compliance processes or technology for the past three years. According to a number of scientists, technological change occurs at an exponential rate. Financial technology must be reviewed constantly in order for it to have any chance of keeping up with the rest of the world. 

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6 Ways IT Can Improve Financial Agility

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  • 6 Ways IT Can Improve Financial Agility-7

    Review Finance Processes Regularly

    Fewer than 50 percent of organizations have reviewed their compliance processes or technology for the past three years. According to a number of scientists, technological change occurs at an exponential rate. Financial technology must be reviewed constantly in order for it to have any chance of keeping up with the rest of the world. 

As the finance function becomes increasingly dependent on automation and analytics, finance and IT are more connected than ever before. But these connections don’t come without challenges. According to a recent study of finance professionals, many in finance are unable to streamline processes and achieve success as a result of the failing tools at their disposal. The failure isn’t a breakdown in innovation – it’s the speed of change. The rate at which technologies are being adopted is much slower than the rate of new innovation.

This breakdown in adoption places an increasing pressure on IT to support a business-critical function. IT must work with finance to improve agility and drive additional business value.

In this slideshow, SAP S/4 HANA Finance has identified six ways IT can improve financial agility and decision making.