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If organizations want to stay ahead of the curve, their operations need to be agile and predictive, and they must pick the right time to engage with both the right talent and the Fjnancial new technologies to gain a competitive edge. However, there are a lot of technologies out there and a lot of business processes, all in a state of continuous evolution. Separating the signal from the noise — and picking the right strategy — can be a real challenge. Even when organizations choose a strategy, other factors can stand in the way of effective implementation. Understanding how to ask the right questions, who to ask and where to find the answers, is critical in making any strategy work. link

Digital transformation is a vital component of any modern business strategy. Old software, platforms and processes become unfit for modern needs. In their place, new software, new platforms and new processes need to be developed and efficiently implemented. However, transformation is often driven by technologists and IT teams, rather than the people who they will actually impact — such as those on the office floor. This can make communicating business value and enacting effective change a fraught process. The most sophisticated, expensive artificial intelligence AI in the world can quickly become ineffective if implemented without the input from the people who would actually be using it, and whether or not they think it would actually improve processes.

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But getting the right people talking and identifying the actual problems that need to be solved, can be harder than it looks. One Tier 1 financial client came to EY with this problem. It had faced challenges in implementing technological transformations in the past, and so recognized the need for creating the kind of collaborative spaces in which critical questions could be asked — and strategies shaped — before it started building technology into its operations. The question the client asked was crucial but broad: rather than making incremental improvements, how do we think differently about how the finance function supports the business?

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In particular, it was looking at how to improve operations across eight distinct finance processes, from financial accounting to book Intermational, by applying technology in ways which Does International Business Need International Financial Institutions work to deliver real value. Today, finance functions have to look at how the whole organization — and beyond — impacts the bottom line. Finding fresh perspectives meant the client needed to bring together the right expertise. For large multinational organizations, these conversations can be hard to create and sustain — teams can be widely distributed around the world, business functions may be highly siloed and individuals may keep varying hours. Bringing stakeholders together physically — and giving them the tools to succeed — was critical.

The EY Advisory and Assurance teams worked together on this project to help create the conditions that allowed the client to have these conversations — bringing our own different perspectives to bear on the project. In wavespace we help clients curate talent and technology, bringing them together in collaboration. They are proven to energize and align teams to create meaningful outcomes, faster. Clients can engage with wavespace locations around the world, be hosted in temporary pop-up wavespaces, or have a wavespace installed in their Institutiohs — all are designed to help clients interact with ideas, technology and each Current Socioeconomic State Americas, in ways that can lead them to the decisions and creativity that will help them thrive in the transformative Intwrnational.

Over the course of an eight-week program, wavespace hosted dozens of key stakeholders in over meetings, Does International Business Need International Financial Institutions them the perspective and collaborative focus they needed to think about and ask questions about the best ways to transforming their finance operations.

At the same time, participants were challenged to work identifying meaningful ways to assess how technology solutions could be applied to their finance processes. First, the client landed on the Cloud as the most appropriate technology for their needs.]