2020 has presented businesses with a tumultuous experience. Outbreaks, lockdowns, volatility, and uncertainty have been the name of the game for leaders—and we’re not out of the woods. The next few months will bring about a lot more tension and tumult as companies look to rebound, gauge the impact of the political uncertainty, and get people back to work.

From Saving the Company to Driving it Forward

As a controller, you’ve spent a lot of time in the weeds, working to pivot your firm and position it for a recovery. It’s been a tense time, but you’ve kept cash flowing, books closing, and lights on—even if they were illuminating an empty office space. But now, it’s time to start looking at what’s next.

With many reports highlighting cautious optimism, it pays to understand the reality and the potential steps to take over the next months, quarters, and years to ensure 2020 becomes a distant memory. But how are you going to make this happen?

The term “transformation” has been bandied about over the years by everyone from thought leaders to marketing folks. While the former have seen their voices drowned out by the latter, transformation is very real and very beneficial for those who know how to approach it.

Knowing this, many firms have put off their efforts. “Why mess with a good thing?”, someone may ask, citing the record economic growth in the past four years. Then the pandemic hit. “We don’t have the resources,” citing the shutdowns.

Well, what’s the excuse now? You’ve made quick-fix decisions. You’ve shaped the short-term future. You’ve run your company through the furnace. Now it’s time to forge a stronger future.

Five Steps to Transformation: Start, See, Think, Reconcile, and Transform

There are few times where the business model, people, processes, and technology stack are as malleable as they are right now. You have the opportunity to radically reimagine the way the finance function and the business works and lead the charge—but how?

Too often, a reinvention effort will fail to gain traction for some of the reasons listed above. Maybe there’s procrastination. Maybe they’re too tough to launch, too complex to maintain, or maybe teams aren’t fully aware of what’s possible with a new solution. What better time to lead this reinvention than at a time where you can bounce forward—instead of just bouncing back.

If businesses want to remain relevant in their market, they’ll need to remain competitive—and that requires an appetite for reinvention.

We’re excited to announce a new Controllers Council webinar for those looking to turn a recovery into a transformation. On September 22, 2020, we will be hosting an exciting event titled Achieving Finance Reinvention – 5 Steps to Real Transformation.

In this highly anticipated webcast, Brian Sommer, CEO of industry analyst TechVentive will join Mark Gervase, Director, Product Marketing at Bill.com to share with attendees the many benefits of reinvention and the first steps to get started. In this webinar, Sommer, author of the highly acclaimed book, Digital With Impact: Realizing Transformation Payoffs, will discuss the five steps of successful Finance Reinvention efforts: Start, See, Think, Reconcile, and Transform.

We’re excited to hear the insights from Brian and invite both Controllers Council Members and Non-Members to this free webcast on September 22, 2020. Click here to register.

WEBINAR - Controller Confidential: 4 Ways Automation Powers Accounts Payable Efficiency Wednesday, August 11

In our newest webinar, Chris Perry channels his extensive experience and financial expertise to tell you why business leaders still lose sleep over hybrid workforce shifts, process inefficiencies and unanticipated cash flow challenges. If you’re looking to streamline your AP to save time and money and prime your business for real growth, join AvidXchange subject matter experts Chris Perry and Rhonda Greene, to explore how to improve your AP efficiency and reap the rewards.