Introduction and challenges
The finance information system refers to the application architecture that supports financial processes and consists of transactional functional blocks (e. g. customer and supplier flows) and decision-making blocks (e. g. reporting). Digital can broadly cover all emerging solutions, mainly in SaaS cloud mode, which meet a specific functional need, including artificial intelligence and process automation solutions.
All CFOs face the problem of choosing between information systems and more agile digital solutions, a complex problem due to a wide range of content and form. This exercise cannot be improvised. Prior to selecting the solution, business needs must be qualified, taking into account the characteristics of the enterprise’s technical and organizational environment.
While information systems offer opportunities to improve business performance, they can also represent a barrier or risk. It is therefore critical to select solutions and projects according to business impact while optimizing the cost of ownership of information systems.
How we can help
We support the CFO in the solution and integrator choice phases (upstream) and in the design/implementation phases (downstream), providing business expertise and change management. Upstream support enables the right functional choices whereas downstream support enables the right level of appropriation by future users.
We distinguish three key steps
- Characterization of the existing system:
- Define the functional perimeter
- Analyze the enterprise’s IS/IT master plan in order to define the impacts and interactions with other systems and information databases
- Evaluate the level of standardization of management rules, information databases and key processes
- Formalize the operating model of the function
2. Definition of the functional target:
- Define the target processes and information databases required to develop the general specifications of the solution
- Benchmark companies with similar characteristics
- Qualify the degree of functional integration with existing systems
- Evaluate existing offers on the market
- Evaluate the business case
3. Technical validation in the context of Request for Proposal:
- Write the specification
- Construct use cases for solution providers to create a model
- Analyze the offers, select the solution and the integrator