Belgium Finance Executive Survey 2018

How digitisation is reshaping the finance function

CFOs and Finance Executives weigh in on the extent to which new technologies are impacting their business

Digital technology is transforming the business landscape rapidly 

and Finance professionals need to consider incorporating emerging technologies to ensure their organisations' competitive edge.

We polled 125 Belgian CFOs and Financial Executives across different sectors to assess where they stand in implementing the latest technologies to improve the functioning of their finance organisation. 

Specifically, we gathered information on where they stand in five areas: robotic process automation (RPA), data & process analytics, cloud solutions, sustainable cost management and target operating model optimisation.

Robotic process automation

1. Robotic process automation

27% of respondents are considering RPA

RPA is easy to implement and can reduce costs faster than traditional Enterprise Resource Planning (ERP). It offers many advantages like greater accuracy, governance and compliance, reduced costs and increased employee and customer satisfaction.

Robotic process automation is: 

Robotic process automation is not: 

2. Data & process analytics

48% of respondents indicated that “improvement of management reporting, dashboards and KPIs” is a top priority

CFOs can play a central role to link newly available, external data to internal data with the objective to provide a basis for solid decision making within the organisation.Technologies support moving from retrospective data to predictive analysis but actual implementation of predictive scenario based models proves to be difficult and limited.

 Data & process analytics

3. Cloud solutions

44% have taken no action towards implementation of ERP in the cloud

The cloud seems to be the future and software providers are adopting a ‘cloud first strategy’. Yet, respondents claim that despite the advantages of moving to the cloud it feels ‘unsafe’ regardless of the fact that security measures are generally more stringent than those of on-site solutions.

What are the main reasons why you haven’t moved to the cloud?

Main reasons why respondents haven’t moved to the cloud

4. Sustainable cost management

33% of respondents estimate their cost saving initiatives are unsustainable

Zero-based budgeting (ZBB) is widespread and the number of companies considering it is on the rise. Applications in the cloud allow for a flexible and relatively simple implementation.

5. Target operating models

36% are planning a review of their target operating model

The up-rise of new technologies and capabilities is impacting the target operating functions within Finance.

Additional automation solutions, renewed capabilities with regards to data and management information, accessibility of data and information are all impacting the way the finance organisation is set-up in terms of people, processes and systems.

Contact us

François Jaucot
Partner
Tel: +32 (0)2 710 4122
Email

Pierre Wangen
Senior Director
Tel: +32 (0)2 710 41 20
Email

Follow PwC Belgium