A successful Finance Transformation can minimise costs, reduce headcount and improve efficiency but while it has the capacity for positive change, it’s how an organisation deals with change that determines the effectiveness of the implementation.
Businesses are often adverse to change as employees fear the security of their roles and stakeholders question the huge investment they’re undertaking but whilst it is vital that you build a compelling case for change for senior stakeholders and programme sponsors, you must also put your workforce and their worries at ease.
I asked my network how they effectively deal with adversity to change during a Finance Transformation to avoid disengagement from their employees and they advised that the best ways to overcome this is to sit down with your workforce and explain the benefits of the ERP implementation or Shared Service Centre deployment.
You should also build relationships with people to ensure you have their full-support and buy-in and ensure there is regular communication going out to the business to engage the workforce and bring them on the transformation journey.
If your Finance Transformation isn’t embedded into the company culture, it will not be sustainable or long-lasting and typically when your Interim project team leave, old habits will resume. These projects take time and significant investment, thus if they are not kept at the forefront of your business, it will not be remotely worth it.
You need buy-in from your permanent staff to ensure you keep them engaged throughout the transformation to guarantee that when it’s over, they’ll champion it on your behalf.
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