Driving change step by step
The increasing demand for digital transformation of AR processes is being driven by a range of factors. We talk to experts across the HighRadius stable to learn more.
s the digitisation of finance operations truly takes hold, increasing numbers of CFOs feel the need to follow suit. The questions facing them are urgent and clear: how can we as a business generate more value; how can we be more effective in what we do; how can we be more efficient in terms of the way we manage our internal processes? And while the journey towards digital transformation rarely begins from a single point, there does tend to be one fundamental aim. “Ultimately the primary driver is usually value,” explains Rash Hullait, VP strategic accounts, EMEA at HighRadius. “Typically it means moving to some of the newer technologies, but ultimately the conversations are always underpinned by ensuring that there’s going to be some sort of outcome at the end of it, which is linked to a dollar value for that business.”
A Key drivers
In practice, those drivers can take many forms. Hana Bísková, digital transformation principal at
HighRadius, explains that there tends to be three principal causes. First, clients often have multiple systems, which can result in gaps in the reporting visibility results. That means they need to adjust to develop a better picture of the end-to-end process. “Second, they are stuck with manual processes: everyday team members repeat the same tasks and that can have a real impact on team morale and retention,” continues Bísková.
This, she stresses, is a critical component in the transformation journey: how will it impact the people within the business charged with delivering best in class AR performance? “We’re increasingly seeing companies now trying to look not only at levels of end customer satisfaction, but also to look at internal customers or employees,” Bísková adds. “And it’s often the case that they may be a young team still using legacy systems, which doesn’t help companies maintain their teams. Churn increases, and inefficient and repetitive processes have an impact on staff retention.”
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Finance Director Europe /
www.ns-businesshub.com
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