PwC | CFOdirect

What’s next? 3 steps to your finance transformation

07/01/20

We discuss practical considerations for transformation, including digitally upskilling the finance function and simplifying and standardizing finance processes.

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Amid the excitement of getting back to a semblance of business as usual, you’re probably asking yourself a lot of questions—as in, where does my business need to focus during this period of recovery? This podcast is the next episode in a new series for CFOs, controllers—really, anyone in finance—asking big questions, like: how do we emerge from a crisis stronger than before? This week, host Heather Horn sits down with Ed Ponagai, partner at PwC.

Topics include:

0:55 - Overview. We begin by outlining a three-part framework for change, focusing on people, process, and performance.
7:13 - People. Not sure where to start? Ed explains that it’s the people perspective—highlighting digital upskilling and leveraging broader talent pools—that leads the way to achieving goals.
12:01 - Process. People in action is the next step. Here we discuss how to think about changing processes through automation and better controls.
17:24 - Performance. People + process = opportunities to improve the entire organization. Heather and Ed discuss how the role of the finance organization is to help the business make better decisions, and shares examples.
20:39 - Moving forward. We close by giving key points of the overall finance transformation journey and highlight the opportunity finance has to become a true business partner to the rest of the company.

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About our guest

Ed Ponagai is a PwC partner and leads large scale back office transformations and merger integrations. He helps CFOs think through their finance organization’s vision and purpose, along with helping them address organizational challenges, operational processes, and technological innovations.

About our host

Heather Horn is PwC's National office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series, as well as periodic webcasts for the power and utilities industry. With over 25 years of experience, Heather’s accounting and auditing expertise includes financial instruments and rate-regulated accounting.