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Webinar: How you organize a digital ecosystem in Finance

11th Apr 2022
Brought to you by
Konsolidator Logo

Konsolidator is a Scandinavian SaaS company that delivers a 100 % cloud-based consolidation tool.

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In its most simple form, a digital ecosystem in Finance is when you digitalize every step of your work and data processes with different software solutions created to your specific need. The important part is that every software integrates so fluently that it transforms into one unique digital ecosystem that only contains what you need – no more, no less. We are used to Excel or an extensive on-premise ERP system. But with 18 months of lockdowns, remote working, and living, the need to embrace digital has accelerated in our finance teams. In our webinar 19th of April, we will look into how Groups can build a digital finance department that exploits the best of the fintech in every step of your reporting, from collecting data to presenting them for management. Lianne Gatti will share her insights into building an excellent finance ecosystem in a few manageable steps, From integration needs and ERP add-ons to the differences between FinTech and AccTech offers.

Join the webinar

Customized software or not – the other side of the coin

When we look into digitalization, we quickly become aware that we have two overall options for choosing software. One option is on-premise software customized precisely to our needs, and the other is a standardized cloud software, broadly speaking, a one-size-fits-all type of solution. For obvious reasons, many will lean towards customized software as a natural first reaction. We assume customizations are what we need to fulfill our needs. But what is the other side of the coin when we talk about customized software?
As great as customized software sounds, it does come with a downside. You have to involve your IT department as it requires more in-depth research and implementation. For every customization you make, you add a new level of complexity (not to mention an extra cost).

So, what do you do? And what can you do on your own?

First, consider your needs – do you need customizations, or can you fit in the standard solutions? If you can fit your needs in standard cloud solutions, you can make it a lot easier for yourself as it works as plug-and-play software- this is the start of your digital ecosystem. And to start to consider if customized and on-premise solutions are the right thing for your company. 

From Tech-savvy specialists to everyone in the Finance team

Begin the transformation towards the 'best practice' finance ecosystem. Your ideal choice of different software solutions should neither be complicated to manage nor use. We are in a digital revolution, and businesses must keep pace to survive. Organizations cannot rely on IT departments alone, meaning you need to embrace a technical mindset to drive change. One of the biggest challenges with digital development is this shift from insightful tech-savvy consultants to the need for common tech knowledge from everyone. And to many finance professionals, it is a challenge to understand the differences between FinTech and AccTech offers and individual differences between needs, wants, and must-haves. The digital ecosystem in finance should provide all with a template to align these elements - an overview of how a new software fits your digital ecosystem understanding of the digital value and differences. Furthermore, offer finance functions a toolbox to help look for software that brings the most potential to their work processes without overcomplicating.  

What is the best practice ecosystem for your finance team? 

Join our webinar and get the answer to these questions: 

  • What is the digital ecosystem? 
  • How to connect systems, people, and technology with processes, channels, and strategies?
  • What does an example of a "best practice" ecosystem look like for a small/medium-sized group vs. a large group?
  • What does a complete ecosystem look like, and how do various levels affect your data's accuracy?
  • Why is it so important to look at the digital ecosystem in the finance function?
  • Where to begin the transformation towards the 'best practice' ecosystem?
  • What does it need from you working in Group finance?
  • Is it complicated?

On the 19th of April, we will discuss the building blocks group finance teams need to organize a digital ecosystem that exploits the best of the FinTech/AccTech world while bringing about the most potential to your work processes without overcomplicating them.

Fear of Implementing new systems?

Change is never easy. But if you choose the right tools and have the knowledge you need before starting the implementation, the process is less likely to suddenly stagnate. Read this guide on how nudging can help you succeed in the current digital changes of your workflow.

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