Gartner recently created this graph, where they plotted the areas of focus for the digital CFO today.

They plotted, "not difficult" to "difficult" on the y axis and "no additional time" to "significant additional time" on the x axis.

Gartner also have a full report here.

This is interesting (well to me anyway), but my question is this.

To implement digital initiatives in any department, how will a business give the team(s) basic digital skills?

To quote Gartner

"Developing digital skills is a prerequisite for finance leaders as organizations — and the finance function itself — accelerate adoption of digital technologies in the post-pandemic recovery. The first step for finance leaders is to identify relevant digital skills, especially those specific to employees’ daily workflows."

In a recent blog I explained how procurement has been transformed by digital. 

How finance and procurement are transforming to digital

In a recent conversation with Helen Mackenzie, she outlined the changes that has taken place with social in procurement and what you can do in your business to keep up with this change.

As Finance professionals, like other departments you need to be looking at way to bringing digital processes to make your business more efficient and effective. 

Back to Helen where she talks about social finance and procurement is about "pulling people (the people you want) towards you".

Just think about the lost opportunities there are in procurement and the costs you can strip out.  We live in a global marketplace, where suppliers are just a click away and those suppliers maybe be cheaper and higher quality than your current supplier.

Let's start a movement

In your business, let's start with a pilot, something low value and low risk.  

Experiment with social media.

This isn't a revolution that starts at the CPO, or CFO this is a evolution that starts with a process in finance or the category manager.

Pull suppliers towards you on social, use your network to find out more. 

If you want to know more, contact me on social here.