The events of 2020 may have turned the world upside down, but as things start to spin again in fits and starts, what are the key takeaways for finance leaders to think about on the road to recovery?
From closing the books remotely to doing scenario planning to understand which levers to pull when crises hit, finance is at the core of leading the business. Sanjay Sehgal, principal, finance transformation at KPMG joined me on the Workday Podcast to discuss what keeps finance leaders awake at night, and what they can do for peace of mind.
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Below you’ll find a few highlights from the conversation, edited for clarity. You can find our other Workday Podcasts here.
“Organizations obviously had forecasting and scenario models. But they might have been spreadsheet based, in that they didn't have some of the cloud technologies that exist in the marketplace today. What's really exciting is that over the last few years, the improvement we've seen with cloud-based planning tools is staggering."
“I think that finance was dipping its toe in transformation prior to the crisis, but what we’ve seen is that there’s work still to be done. Now is the time to execute on transformation, because if we don’t, I think we’ll be stuck in an environment where the same sorts of issues will continue to cause finance a lot of problems.”