Is Your Finance Ready For Digitalization?
Measuring and Sustaining Digital Finance Readiness
Ongoing measurement is the key to sustaining digitalization gains. Cloud-based systems such as SAP S/4HANA Finance, QuickBooks Online, and Oracle Cloud Financials offer built-in analytics that track critical metrics: closing cycles, error rates, and user adoption levels. Regularly reviewing these dashboards gives leaders objective insight into how well the finance function is performing in its digital transformation journey.
Status audits, whether conducted internally or by third-party experts, help verify that best practices are maintained and identify where improvements can be made. Vendor-provided dashboards not only track performance, but also highlight security status and regulatory compliance thresholds, such as those required by international standards.
Benchmarking against industry peers is beneficial. Leading organizations use vendor case studies and peer network insights to gauge their maturity level. For example, QuickBooks shares success stories from small businesses while SAP and Oracle detail complex, global transformations, offering a roadmap for continuous advancement.
Sustaining readiness means adapting to new technologies and market shifts. Whether integrating AI-driven expense management within Oracle Cloud or experimenting with blockchain features for audit trails, continuous evolution is the hallmark of mature digital finance functions. The journey doesn’t end with migration; it’s a perpetual process of learning, upgrading, and optimizing to meet future demands.