How do you drive a Digital Transformation Culture?
During this session, our hosts Chris Tredwell and Kevin Appleby were joined by Joe Paget as he took us through the third in a four-part series about Automation in Finance. (The others can be found in the events/webinar recording area of GrowCFO)
A fellow GrowCFO member and Chartered Accountant (FCA) with 20+ years of experience acting as FD, COO and MD across a diverse set of industry sectors, Joe has always been focused on addressing areas of inefficiency and low productivity. As technology has advanced, he was able to drive improvements in business processes and develop his teams to free them from the more mundane aspects of their roles, focusing instead on improved decision-making and delivering a better customer experience.
Following the successful sale of the Brookson Group out of PE ownership earlier this year, Joe founded 4thRevolution to use his experience to support other finance teams to automate their processes by building applications once, creating repeatable routines that increase productivity and accuracy, whilst creating a valuable data set that aids analysis and decision making.
During this session;
- Joe and Chris discussed the importance of driving a digital transformation culture within organizations. They emphasized the need for team acceptance and support of new technologies, as well as the benefits of continuous improvement and quick wins in the transformation process. – PLAY @7:00
- Joe, Chris, Kevin, and others discussed the importance of driving a transformation culture within an organization. They emphasized the need for a clear vision and strategy, involving individuals who were initially against the change, developing digital literacy and skills, and allocating the necessary budget and time for training. – PLAY @18:10
- Joe discussed the importance of selecting and explaining the technology to the teams, empowering and involving employees, and fostering a culture of testing and learning. He also emphasized the need for leaders to inspire and guide the transformation, understand the technology’s capabilities, and encourage collaboration between departments to drive innovation and increase return on investment. – PLAY @24:13
- Joe and Chris discussed the importance of teamwork, support, training, and continuous learning during the implementation of new technology. They emphasized the need to review and improve the implementation process based on feedback and insights gained from previous projects and external communities. – PLAY @29:37
- Joe and Chris discussed the importance of support, the celebration of success, continuous learning, and addressing unique challenges in driving a transformation culture within finance. They emphasized the use of automation to streamline processes and data analytics to drive decision-making, while also highlighting the need to understand and strive for best practices in order to achieve optimal efficiency. – PLAY @34:36
- Joe and Chris discussed the key factors for driving digital transformation within teams, including strong leadership, effective communication, embracing change, fostering a culture of innovation, and being data-driven. They also mentioned the importance of staying updated on relevant software tools and offered to share demos for better direction in starting the transformation journey. – PLAY @39:52
- Chris, Kevin, and Joe discussed the importance of democratizing automation and digital solutions within teams, aligning the benefits of these changes to the wider business, and the challenges of capturing and realizing cost savings and value in digital transformation projects. – PLAY @43:28
- Joe, Chris, and Kevin discussed the importance of using proof of concepts to convince management to adopt new technology. They emphasized the need to solve the management’s problems and demonstrate how the technology can impact their KPIs, as well as the potential influence of competitors using similar tools. – PLAY @53:16
Supporting slides
Joe was kind enough to share his session slides that include some useful information to support this topic and the recording of the session:
Find out more
If you have any further questions or wish to connect with Joe, Chris or Kevin, they would be happy to hear from you:
Joe Paget: Linkedin or joe.paget@4threvolution.co.uk
Chris Tredwell: Linkedin or chris.tredwell@aqilla.com
Kevin Appleby: Linkedin or kevin.appleby@growcfo.net
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