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Smart Digital Finance

Smart Digital Finance

Challenges:

The finance department must navigate in a rapidly changing business and technological environment, therefore facing such a significant challenge that mandates an evolutionary response. Change is not new. However the speed of change is faster and continuously accelerating.

KPMG's approach:

Our firm employs a comprehensive and differentiated approach which connects people, knowledge, processes, technology and data to address the challenges of the future of finance. It is called “Smart Digital Finance” and is driven by KPMG’s deep insights and industry acumens in the following three pillars:

Finance Excellence

Our experts have deep knowledge of compliance affairs and challenges of several business sectors including all regulatory requirements, Hungarian Accounting Law and IFRS. Furthermore we act as professionals in the field of financial reporting, tax, treasury and other complex finance areas.

Financial Project Management

KPMG’s methodology captures, designs, analyzes, measures, implements and improves processes that encompass wide-ranging client matters in the finance domain. Our goal is the alignment of processes to achieve the most effective and efficient mechanism through new or best practices.

Digital Transformation

We accelerate business activities, processes, competencies and models to fully leverage the changes and opportunities of digital technologies and their impact in a strategic and prioritized way.

Our service areas:

-           Accounting Advisory Services

-           Accounting and Payroll Services

-           Financial Risk Management

-           Process Management and Development

-           Digital Transformation Services

Transformation:

Finance as we know it will be radically different in the future due to the changing expectations and a complex stakeholder landscape.

Finance will:

  • Increase support of innovation by driving evaluation, allocation and monitoring of strategic investments in new platforms, customers and products.
  • Proactively lead enterprise performance and serve as a facilitator across the organization to drive business strategies.
  • Employ less human labor and apply more digital solutions to provide the required delivery in time and at high quality.
  • Enable business agility, deliver and interpret outside-in signals and quantify financial impacts.
  • Increase the speed of insight and drive integration of internal and external data to deliver prescriptive analytics to optimize decision making.
  • Act as role model for collaboration and integrate functional expertise throughout end-to-end process execution.
  • Develop predictive driver-based plans, models and analysis that explicitly considers the causal linkages to operations and customer areas to improve forecasting accuracy.
  • Develop new skills and talent in order to cultivate strategic business partners with diverse experiences that drive cross-functional collaboration and real-time decision making.

 

Watch our short introduction video about the SmartXtractor.

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