More than ever before, companies need to align their financial processes and organisation with the requirements of the future, as the finance department is playing an increasingly important role in contributing value to the overall corporate strategy.
In line with lean finance principles, processes should be streamlined and efficient, delivering high-quality results at ever lower cost.
Digitalisation opens up numerous opportunities for the finance function to achieve this goal. In addition, the finance department will need to be able to intelligently link information and data in order to support overall business decisions. This leads to a change in role – away from looking at the past and towards becoming a reliable forward thinker.
Existing processes and reporting structures are often no longer sufficient to manage and operationalise the requirements of non-financial reporting (ESG) in a targeted manner and therefore require adjustments to the organisational structure, governance and cross-functional processes.
Partner, Performance & Strategy, Enterprise Performance
KPMG AG Wirtschaftsprüfungsgesellschaft
Finance performance describes the finance function’s ability to provide reliable data, efficient processes and information relevant to management. Digitalisation in accounting is a key driver of this: it combines process optimisation in accounting with automation, data quality and clear governance.
Many finance departments are faced with similar questions. Which processes can be standardised? Where do data silos arise? Which tasks can be made more efficient through intelligent automation, robotic process automation or process mining? KPMG supports companies in answering these questions in a structured manner and in aligning digital finance processes so that they contribute to corporate management.
KPMG assesses finance performance across the entire finance function. This includes transactional processes such as purchase-to-pay, order-to-cash and accounting-to-disclosure, as well as organisational and governance issues. The aim is to optimise financial processes, reduce lead times, increase transparency and relieve staff of repetitive tasks.
There is a particular focus on combining specialist expertise with technology. Process analyses, target frameworks for accounting, automation approaches and suitable operating models are developed collaboratively. This creates a robust foundation for decision-making, investment and the ongoing transformation of the finance function.
KPMG supports the development of digitalisation strategies in accounting and guides their practical implementation. Our experts bring experience in finance transformation, accounting, data analysis, process design and technology projects. This enables us not only to identify potential but also to translate it into viable measures.
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Digitalisation in accounting means using digital technologies to make processes, data flows and control mechanisms within the finance function more efficient and transparent.
Finance processes can be optimised by analysing, standardising and automating workflows, and by managing them in a more data-driven way. Common areas of focus include transactional processes, reporting, governance and interfaces between systems.
Digital finance processes can be supported by, amongst other things, process mining, robotic process automation, intelligent automation, workflow solutions and modern ERP systems.
KPMG provides support with strategy, process analysis, target state development, automation, operating model design and the implementation of measures to improve finance performance.
