Infosys’ blog on industry solutions, trends, business process transformation and global implementation in Oracle.

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Is the CFO disturbed by the dual turbulence of Cloud and Compliance at the same time - Part III


This is the last in this series

Yes today's CFO is under significant pressure to make the decision on

  • How to meet the compliance needs

  • What is his choice of moving to cloud and keeping on Premise

  • When is the right time to fix these changes?

While the cloud is only a shift of the ERP's and no different than any ERP implementation program, the finance transformation journey can be quite rewarding for those organizations that have a sound strategy and are persistent. Successful transformations position finance to be a valued, capable, and trusted "partner" to the operating units, with deep knowledge of their business. To achieve this, the finance organization must align to business strategy and then identify the most cost-effective way to accomplish transaction processing activities, irrespective of whether it being on the Cloud or on Premise, without any compromise to Control or the Compliance aspects. 
While the cloud transformation journey there is nothing wrong for a CFO to look at additional cost savings methods like

  • moving transactional work into shared services and

  • Look for Automation as part of the transformation Journey.

  • Finance Structure Alignment

  • Benchmarking

  • Process Simplification

  • Adopting Modern Technologies

  • Reduce Cost of Operations through a Shared Service

  • Minimize Non Value Adds

  • Simplify the Tax Complications

  • Meet the Reporting Complexities

  • Establish a Strong Organization Control and governance

  • Grow his Digital Needs

  • Perform Big Data Analytics

  • Look at optimizing the Internet of Things

As quoted by Larry Ellison - Executive Chairman and CTO of Oracle   - "Everything is not going to move to the cloud by Friday" .

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