1: One holistic user experience
For years, the user experience has been at the bottom of the priority list for finance. This is changing with finance teams focused on not only delighting internal stakeholders, but also providing an engaging experience to external stakeholders, such as suppliers and customers.
A positive experience drives the last piece of the insight-to-action loop for F&A and helps ensure people act on the insights they receive. It has become even more important, especially when teams are working remotely.
There are two actions that will allow finance to deliver exceptional experiences:
- Human-centric design for frictionless experience: By putting the needs of customers, employees, and partners first, organizations can identify new ways of working and guide changes across the front, middle, and back office
- Systems of action to help consume insight: Systems of action nudge behaviors by targeting three out of the five senses (sight, sound, and touch). For example, voice assistants are rapidly becoming a CXO's intelligent personal assistant, delivering personalized insights, research, and real-time responses to queries, and automating simple tasks such as scheduling meeting reminders and routing escalations
To reach a 00001 vision, companies must rethink today's ways of working while understanding that there's next to no direct cost savings or benefits in the short term. That said, digitally enabled organizations have a competitive advantage that enables them to build a more resilient business, capture market share, accelerate growth, and deliver exponential shareholder value.
As each organization defines its roadmap for the path ahead, combining digital technologies with speed, execution strategy, focus, and change management will separate the leaders from laggards.