Most financial professionals spend time trying to keep on top of the financial applications, reporting tools and other digitally-based aids that impact their processes, data and people. These digital tools are typically in a perpetual state of being deployed, upgraded, integrated, and adopted.

This activity, by default, transforms a business – and there you have the basis for the term: Digital Transformation. Examples of Digital Transformation initiatives: upgrading your ERP or CRM solution; deployment of an interactive e-Commerce environment; going “paperless”; implementing automated expense reporting; or, the implementation of a new warehouse management system to streamline distribution and fulfillment operations.

These can bring great value to a business (=success), or, more frequently, their disruptive nature can result in great cost and losses (=failure). As a CFO or member of the C-Suite, you are responsible for the success (or failure) of Digital Transformation initiatives. These initiatives increase a business’ risk profile dramatically and threaten to cause great damage to your personnel and their routines. They must be strategically managed from both business and human capital perspectives in order to achieve success.