WHY IT MATTERS: Digital Transformation
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WHY IT MATTERS: Digital Transformation
Going digital in your business? I select the best posts and highlight the reasons why it matters. Like it? Click "recommend" + register to get the digest in your inbox: http://fmcs.digital/newsletter-signup/
Curated by Farid Mheir
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Digital transformation in Finance: Continuous Accounting is the Future of #Accounting and Modern #Finance

Digital transformation in Finance: Continuous Accounting is the Future of #Accounting and Modern #Finance | WHY IT MATTERS: Digital Transformation | Scoop.it

BlackLine automates complex, manual & repetitive accounting processes & enables companies to move beyond the legacy record-to-report process.

Farid Mheir's insight:

WHY IT MATTERS: finance and accounting remain manual and paper-driven. However, there are advances with robotic process automation and solutions that aim to make accounting a continuous process, not a once a month struggle. Sure looks to me like something we have done in software engineering years ago with continuous integration and deployment.

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Vezta & Co.'s curator insight, August 31, 1:36 PM

WHY IT MATTERS: finance and accounting remain manual and paper-driven. However, there are advances with robotic process automation and solutions that aim to make accounting a continuous process, not a once a month struggle. Sure looks to me like something we have done in software engineering years ago with continuous integration and deployment.

aanselmo.pina@gmail.com's curator insight, September 1, 10:16 AM
pRUEBA
Marie Torossian, CPA, CGMA's curator insight, September 1, 10:52 AM
How automated is your accounting process? I'm always looking for better integration of software to free up time for my staff to perform more analytics. Here's a nice read on Digital transformation in Finance and Accounting
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Beware of the digital cliff: digital transformation happens very fast and companies must prepare for that event, even though its timing is difficult to determine #exponentialGrowth #digitalDisruption

Beware of the digital cliff: digital transformation happens very fast and companies must prepare for that event, even though its timing is difficult to determine #exponentialGrowth #digitalDisruption | WHY IT MATTERS: Digital Transformation | Scoop.it

Digital transformation does not happen slowly over time, but rather abruptly after a long period of denial by industry leaders.

Farid Mheir's insight:

WHY IT MATTERS: this post from 2013 is still as valid today as it was 5 years ago. Why do so many companies continue to be in denial?

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Organizing for a Digital World - Bain Brief - Bain & Company

Organizing for a Digital World - Bain Brief - Bain & Company | WHY IT MATTERS: Digital Transformation | Scoop.it

How to adjust the operating model and revive stalled digital efforts. Specifically:

- Does the concept of an "organizational structure" still make sense? Or should we move to self-organizing, manager-less teams?
- Should we scrap the idea of careers and employee loyalty in order to attract millennial talent for "tours of duty"?
- Do we really need any specialists in house, or should we do everything through partners in the ecosystem?

Farid Mheir's insight:

WHY IT MATTERS: digital transformation is more than just implementing new technologies. There must also be changes in processes and people, often with different organizational structures. This article from Bain presents different alternatives, along with pros and cons for each.

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London Underground - the case study for resistance against business transformation via @ijgolding

London Underground - the case study for resistance against business transformation via @ijgolding | WHY IT MATTERS: Digital Transformation | Scoop.it
If you live or have been in London for the last two days, it will not have escaped your notice that something unusual is happening. Two trade unions who represent some London Underground staff have...
Farid Mheir's insight:

This post reminds of a too familiar issues when it comes to digital transformation: change management. We, digital-minded people, minimize it and often it comes back to prevent success.


It reminds me of the Apple pirate flag story (or at least my interpretation of it). When Apple was designing the macintosh, the team moved into a new building and planted a pirate flag on the roof. The idea was simple: identify the macintosh team as a rebel organization that would overtake everyone else. Even quite possible the "existing Apple", the company that made the Apple II. They recognized early that the mac would require a major transformation that could ultimately kill its existing business.


I find very few businesses ready today to make that same bold statement when it comes to digital transformation. Which often leaves plenty of room for disruptors to come in and steal the show. 

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How Ford Retail is bringing digital into the boardroom via @Econsultancy @chiefDigOfficer

How Ford Retail is bringing digital into the boardroom via @Econsultancy @chiefDigOfficer | WHY IT MATTERS: Digital Transformation | Scoop.it

Celia Pronto is Group Marketing and Ecommerce Director at Ford Retail, and her expertise is in working with multichannel businesses experiencing vast transformation. She will be speaking about Ford Retail's digital transformation, and the importance of customer experience. 

Farid Mheir's insight:

Key messages: digital transformation takes time, customer expectations are high and retailers have yet to meet them

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Auto industry digital transformation from newspaper and TV to online and social

Auto industry digital transformation from newspaper and TV to online and social | WHY IT MATTERS: Digital Transformation | Scoop.it

A significant shift to Internet marketing is transforming the automobile industry, and CF Search Marketing is helping dealerships across the country navigate the transition from television and newspaper advertising to search engine optimization and marketing, social media, inbound marketing and pay-per-click models of measurement.

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"It's not the whole puzzle," he said of digital marketing for the auto industry. "We know (dealers) have X amount of dollars and we help strategize with them. The old-school dealers who don't embrace this, who don't understand that the next generation of car buyers are getting most of their information through their cell phones, won't be able to compete."

As a result of this transformation, many medium-sized and large dealerships now have Internet sales teams, and landing at the top of local search pages such as Google Places, Yahoo Local and Bing Maps has become a priority.

Farid Mheir's insight:

Great example of the needs for small businesses to embrace the digital medium or die. The large automakers have made the shift years ago but car dealerships are small businesses and they have yet to make the move. Looks like the time is now and that they need help tomake the transition, changing processes and I assume people as well...

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Thanks to the iPad, more executives are embracing digital disruption

Thanks to the iPad, more executives are embracing digital disruption | WHY IT MATTERS: Digital Transformation | Scoop.it
Since the debut of the iPad, a significant shift has occurred. For the first time, executives not only bought this new device, they bought into it. They became true believers.
Farid Mheir's insight:

It seems true that the ipad marks the pinacle of changes that have started with the public introduction of the Internet in 1994. An increased level of adoption by executives often means a clearer understanding of the opportunities.


Take for example the switch from paper documents to electronic ones in boardrooms. The impact of ipads is tremendous and over a few years most board of directors have switched to electronic distribution of documents, often on ipads. Not that it was not possible before to do it on laptop but ipads made it easy. With executive adoption you get a much faster transformation as they understand the benefits and want to have the electronic documents in their briefcase rather than the stacks of papers. 

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Curated by Farid Mheir
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