CFOs Guide to Leading Digital Initiatives | OptiProERP

1. CFOs How to lead digital initiatives at your manufacturing or distribution business

2. CFOs let's start by defining digitalization digitalization is The conversion of analog (paper-based processes) into business processes that leverage cloud technology innovation.

3. Table of contents 1. 3 reasons why you should take the lead on digital initiatives 2. 3 factors for a successful digital initiative 3. Where to start? 4. 6 characteristics of digital-ready cloud ERP you need to know 5. The value of cloud ERP for accounting and financials 6. The importance of a single ERP platform 7. 6 ways OptiProERP can help you achieve your digital initiatives 8. Resources

4. CEOs want CFOs to lead digital initiatives. CEOs expect CFOs to add strategic value, using their view of cost and revenue drivers to protect margin while helping grow the organization. CEOs and boards also say they want CFOs and the finance function to provide real-time, data-enabled decision support. CFOs already lead finance and provide information that drives strategic business decisions. Discrete manufacturing is expected to invest $221.6 billion in digital transformation. Chief Executive, IDC Report, 2019

5. There are initiatives good reasons – even if you’re not a to take the lead on technical expert. digital

6. 3 good reasons to take the lead on even if you don’t know about technical stuff. digital initiatives Recognition Influence Opportunities Be known by top officers and board members as someone who adds value to the business. Build your circle of influence among your peers, within your company and within the industry. Take your career to new heights as a leader who can successfully execute new initiatives.

7. Choose your first digital initiative carefully. Select a who can help you implement quickly with quality. ROI. But keep your eye on the long term strategic value of your digital initiative. digital partner 3 factors for a successful digital initiative. Go for rapid

8. Go for an easy win. Start with a Solve a real problem that dramatically improves productivity and profitability. well-defined project.

9. Make a big impact. Identify a inefficient and incapable of supporting growth. with your digital initiative. manual process that is Transform it

10. Measurable results are critical to the success of your digital initiative. Define successful outcomes before you begin.

11. Start your digital initiative on your own turf – finance and accounting operations. Begin with cloud ERP.

12. 6 characteristics of digital-ready cloud ERP you need to know Collaborative Secure Access is restricted to authorized users, an audit trail of all activity is automatically created, and all documents, including invoices, are delivered and stored on an encrypted platform. Businesses and their extended value chain (customers, suppliers, and business partners) can work together in real-time with shared access to a single source of accurate information. Automated Standardized Consistent workflows are followed on a single, cloud-based platform. Information is organized and presented in a consistent format. Once data is uploaded or keyed in, the information is carried over and built upon with each successive action to minimize human error and accelerate processes. Transparent Analytical Generate analytic insight from real-time data, selecting from hundreds of dashboards, KPIs, and report templates aligned with role-specific responsibility. The status of business management processes and manufacturing operations is visible to all authorized users in real time.

13. Good news! Launching a digital initiative has never been easier ─ with complete, connected cloud enterprise resource planning (ERP).

14. Cloud ERP is a platform real-time information and analytics - only automation, collaboration, end-to-end visibility, that delivers faster, better, and more cost effectively The of cloud ERP for accounting and financials value Optimize your financial, business and manufacturing processes with fully integrated functionality. Focus on your business and leave security in the hands of a trusted ERP partner with world-class infrastructure and data protection protocols. Get the benefits of ongoing ERP innovation with consistent solution enhancements and new features. Digitally connect accounting and financials with order processing, scheduling, production, and shipping in real-time. Replace up-front capital expenditure (CAPEX) with an affordable monthly software- as-a-service subscription. Be competitive with the ability to extend and deploy new functionality quickly - without changing your ERP solution.

15. The of cloud ERP for accounting and financials benefits Streamlined Financial Operation Faster Closing Process Improved Decision Making Pervasive Analytics New Business Models Automate, integrate, and manage all financial processes in your company with a single solution, eliminating duplicate entries and errors. Close your books faster with automated processes and the ability to access accurate and timely financial information. Get a unified financial view of your business by integrating accounting data with sales, purchasing, inventory, and operational information. Create flexible ad-hoc analysis from any data source within the platform using your choice of embedded report templates. Transform the organization’s working processes and form new service-driven business models.

16. The importance of a single ERP platform Control Standardize Manage Improve cash flow and profitability through reduced Days Sales Outstanding (DSO) and Full-time Equivalents (FTE) Credit Collections. Align and automate common work tasks across the business. See purchasing transactions and receipts of goods automatically updated in accounts payable. Automate process transactions across the business to improve efficiency and reduce cost. Respond to customers in record time with access to their order history, what they bought and when they paid. Mitigate risk associated with loss of data that can occur when information moves across multiple platform environments. Streamline invoicing accuracy to expedite receipt of accounts receivable. Streamline management of financial master data.

17. What your peers are saying 81% 64% 53% 77% of CFOs see identifying and targeting areas of new value across the business as one of their main responsibilities. of CFOs are concerned about being out of sync with the rest of their company when it comes to driving enterprise-wide efficiency by adopting digital technologies. of CFOs worry that the finance function is reactive or that data and information-sharing processes are not streamlined. of CFOs believe it is within their purview to drive business-wide operational transformation. Source: CFO Reimagined | CFO Global Research | Accenture

18. 6 ways OptiProERP can help you achieve your digital initiatives Connected Digitize Automate your operations, accelerate digital transformation, and embed intelligence into every process – from finance, inventory, MRP, shop floor execution, and more. Deliver value across your business by connecting business management, manufacturing, and distribution processes and machines, people, and experiences. Intelligent Flexible Thrive in the new economy by integrating solutions such as e-commerce, EDI, POS, and IoT on SAP’s digital core platform. Turn your data into action and business value with real-time insights, pervasive analytics, intelligent technologies such as IoT, and more. Scalable Cost Effective Get the latest technology priced for small and midsize enterprises that’s also easy to learn and simple to use for a faster time to value. Start simple with what you need right now, knowing the platform’s market-leading technology will grow with your business no matter where it takes you.

19. Run simple, reduce risk, and compete in a digital world with OptiProERP Get the best of everything ERP: OptiProERP’s deep industry functionality, expertise, and innovation embedded into the market-leading SAP Business One platform Trusted Sized-Right Cutting Edge Affordable Trusted experience, expertise, and platform. Simple, impactful, scales as you grow. Built with the latest technologies for the digital world. Priced-right with financing to free up cash flow. OptiProERP: 20+ years with a singular industry focus, serving 3,000+ manufacturers and distributors SAP: 65,000+ small & midsize customers trust SAP Business One (ranked #1 ERP software)

20. Get started with your digital initiative. Request our Guide to ERP Accounting and Financials.

21. Resources l https://www.optiproerp.com/blog/4-steps-to-value-creation-with-intelligent-cloud-erp-for-manufacturers/ l https://www.optiproerp.com/blog/have-you-considered-the-advantages-of-cloud-erp/ l https://www.optiproerp.com/blog/what-is-intelligent-erp/ Get started with your digital initiative l https://www.optiproerp.com/blog/what-does-intelligent-erp-do/ l https://www.optiproerp.com/blog/is-intelligent-erp-right-for-me/ Request our Guide to ERP Accounting and Financials l https://www.optiproerp.com/white-papers/future-ready-financials-for-manufacturers/ l https://www.optiproerp.com/white-papers/erp-accounting-financials-guide/

22. www.optiproerp.com