Digital Finance Transformation with Bruno from Avantgarde
We are excited to share the first episode of our podcast series, where we dive deep into the world of Finance Transformation. In this episode, our Co-Founder and CEO, Ivan Jesus, sits down with Bruno Marcal, the Finance Director of Avantgarde and Co-Founder or Procast, to discuss the rapidly evolving landscape of financial management and the crucial role of innovation in driving business success.
Key Highlights:
Introduction to Digital Finance Transformation
Bruno kicks off the discussion by outlining the five main pillars that drive digital finance transformation today: Business Intelligence (BI), Cloud Computing, Automation, Security, and Integration. These pillars form the foundation for modernising finance functions and ensuring they can meet the demands of today’s fast-paced business environment.
Challenges in Implementing Digital Finance Transformation
Bruno shares his experiences with the common challenges faced during digital finance transformation. He discusses issues such as poor implementation, lack of security controls, and the critical importance of involving key stakeholders in the transformation process. Bruno provides real-world examples where inadequate implementation led to significant operational disruptions and data breaches, underscoring the need for careful planning and execution.
Optimising Financial Processes
One of the standout moments in the podcast is Bruno’s account of reducing an 18-step procurement process to just five steps. By auditing existing workflows and leveraging the right tools, his team was able to streamline processes significantly, leading to better resource allocation and improved efficiency. This example highlights the transformative power of digital tools when implemented correctly.
The Importance of User Experience in Technology Adoption
Bruno emphasises the critical role of user experience (UX) in technology adoption. He explains that even the most powerful tools can fail if they are not user-friendly. Good UI/UX can reduce tech fatigue, improve engagement, and enhance overall productivity. This focus on the end-user experience is essential for the successful adoption of new technologies in the finance function.
Finance as a Strategic Partner
A recurring theme in the podcast is the evolving role of finance from a back-end function to a strategic partner. Bruno stresses the need for finance professionals to understand various business functions, including sales, marketing, HR, and procurement. This broad knowledge base enables finance teams to provide strategic insights and drive business growth.
Future Trends in Finance and Digital Transformation
Looking ahead, Bruno shares his vision for the future of finance. He highlights the growing trend of Finance as a Service (FaaS) and the importance of continuous learning and adaptation in the face of rapid technological advancements. By embracing digital tools and strategies, finance professionals can position themselves as key drivers of organisational success.
Practical Advice for Businesses
Bruno offers practical advice for businesses looking to embark on their own digital finance transformation journey. He recommends starting with a thorough audit of existing processes, engaging with multiple stakeholders, and setting realistic goals. Bruno also advises businesses to explore the full potential of their current systems before seeking new solutions, as well as to leverage the expertise of internal and external resources to guide the transformation.
Our conversation with Bruno provided invaluable insights into the world of digital finance transformation. By focusing on key components, addressing challenges head-on, optimising processes, and embracing user-friendly technology, finance teams can transform into strategic partners that drive business growth. We hope you enjoyed this episode as much as we did. Stay tuned for more insightful discussions in our upcoming podcasts!
Tune in Now!
Listen to the podcast on Spotify, and Youtube. Stay tuned for more exciting episodes as we continue to bring you the latest trends and expert opinions in the world of finance.
