Rutherford Cross recently hosted RSM in our Glasgow boardroom for a presentation on ‘Transforming into a Digital Finance Function’. The event welcomed Finance Directors and CFOs from a diverse range of sectors including renewable energy, tech, private equity, manufacturing, engineering, charity, and retail. Director, Derek Lauder, summarises the event below.
Following introductions, Stuart McCallum (Partner) and Hannah Atchison (Associate Director), both from RSM, outlined their definition of a digital finance function and shared the criteria they use to assess how ‘digital’ a finance function is.
They then explored what the digital finance function of the future will look like, with ongoing automation of transactional processing freeing up time for strategic planning, commercial finance, and continuous improvement.
The session moved on to cover the key digital principles needed for success, including being proactive, establishing clear roles within the business and finance function, striving for real-time KPI insights, and leveraging advanced analytics and intelligent automation. The importance of accurate reporting to support decision-making and drive performance was also emphasised.
An engaging discussion followed around the importance of selecting the right data visualisation and reporting tools tailored to your business. The architecture and quality of data are just as critical as the tools themselves. Underpinning any successful digital finance function is the need for the right people, skills, and organisational structure. Stuart and Hannah also highlighted the importance of embedding the human element within any transformation.
There was also discussion around AI and its impact, with positive examples shared, such as AI delivering significant time savings during a due diligence exercise. However, the message was clear: don’t become overly distracted by AI at the expense of broader transformation priorities.
We would like to thank RSM for facilitating such an informative, relaxed, and interactive presentation.
For more information on the topic discussed, please contact [email protected] or [email protected].
For information on future events at Rutherford Cross, please get in touch with [email protected].
