From the app economy and improved personalized omnichannel experiences to increased collaboration with influencers and beyond, the technology explosion is driving countless new ways of working.
- There will be new and simplified operational modes, such as touchless. Prepare to double down on business insights and services.
- There will be new types of workforces demanding a balance between humans, machines, and algorithms. Prepare to work with Apple’s 'Siri' and Amazon’s 'Alexa' in the future.
- There will be new types of workplaces— including distributed and borderless. Prepare to have a certain percentage of employees work from home permanently.
The dynamic nature of changing businesses puts across unusual requirements, the execution of which demands a radically new CFO agenda. This includes the reimagination of the workforce, their capabilities, and the operating model to empower the business to do more with less. The change begins with the CFOs as they enable the business to move at the speed of customers, meet boardroom demands, manage regulators and auditors, and most importantly, orchestrate accelerated selling, general, and administrative (SG&A) expense improvement initiatives.
CFOs must to move from being a bean counter, where they focus only on numbers, to a bean harvester, where a comprehensive emphasis is laid on market opportunities, threats, sector disruptions, customer retention, and enterprise innovation. Our digital door operating model provides a gateway to a forward-looking iFinance model by leveraging pre-configured personas, smart workflows, hybrid cloud platforms, industrialized shared services, and a continuous innovation philosophy.
To build the finance organization of the future, leaders must act today in tandem with the iFinance model to harness extreme automation, transcend their transactional role, and provide new value.
Digital Door in Action
HCLTech partnered with a leading North American energy retailer to design and deliver new ways of working for their order-to-cash function. We impacted key business metrics enabling 40%+ cost savings, ~94% complaints reduction, and 65%+ billing exception reduction.
Our client wanted to become nimbler to market changes through innovative technology and deliver creative value for business and customers. The energy retailer integrated operating model cover process operations, application management, and infrastructure hosting as the key to continuing mission. HCLTech worked with them to design and deliver a digital door for meter-to-cash customer lifecycle management collections processes.
This program included people redistribution between US, India, and Guatemala
- Big bang rollout of operations and SAP application on day one across service locations
- As the program progressed, HCLTech led cloud migration for all OTC applications
- Creating a joint innovation fund to look for the next phase of digital OTC transformation
- With a streamlined back-office function, high-quality analytics, and industrialized oversight, the energy retailer can pass benefits on to its members and be future-ready
To know more about iFinance, download the Digital door: Gateway to iENTERPRISE newsletter here: /white-papers/digital-process-operations/digital-door-gateway-ienterprise