[This article is based on a presentation given by Gabriela Suchanek, the Local CFO at Teads and moderated by Premal Parekh, Finance Director/ Divisional CFO at the London Stock Exchange Group at our virtual FP&A Summit in 2023. Catch up with this presentation, and others, using our OnDemand service. For more exclusive content, visit your membership dashboard.]

Finance transformation is no longer just an option; it’s a necessity for businesses that want to stay competitive and agile.

But what does the finance transformation journey look like?

In this article, you'll learn about the key drivers, challenges, and opportunities that come with navigating this journey. So, if you're looking to understand how to embrace change, overcome roadblocks, and unlock the full potential of your finance team, keep reading - you’ll walk away with actionable insights to drive transformation in your organization.

Start with the "why"

The first step in any transformation is understanding your purpose. Why does your business need this change? Are you trying to reduce costs, improve efficiency, or adopt new technology to automate repetitive processes? Without clarity on the “why,” it’s impossible to define the right scope or measure success.

At Teads, when we looked at transformation, we always started with that big question: Why does this change matter?

Once you know the answer, everything else starts to fall into place—your priorities, your goals, and how you’ll measure success.

Finance & business transformation go hand-in-hand

Finance transformation doesn’t happen in isolation—it’s deeply tied to broader business transformation. Sometimes it’s a top-down initiative led by leadership, but often, it’s a bottom-up effort where employees identify inefficiencies and suggest improvements. Both approaches work, but the key is ensuring alignment between finance and the rest of the business.

For instance, if your finance team is optimizing forecasting processes, that work should complement broader business goals like improving strategic decision-making or scaling operations. Finance transformation is most impactful when it drives value across the organization—not just within the finance function.

How accountants can seamlessly transition into FP&A
Here’s a very important question for you: Have you ever looked up from your numbers and wondered what it would be like to shape the financial future of a company, rather than just minding its past?
Finance AllianceCarolina Lago