The secret recipe to transforming finance processes
Maria Ferraro
Chief Financial Officer and Chief Inclusion & Diversity Officer at Siemens Energy. She/Her/Hers.
At Siemens Digital Factory we love digital twins! This virtual image of a product, production process, or performance enables the individual process stages to be seamlessly linked. But have you heard about a Digital Twin of Organization or DTO?
Thanks to innovative process mining technologies, DTOs are ideal for optimizing in-house organizational processes and measuring improvements significantly. One of the major challenges for organizations today is how to easily derive relevant and understandable KPIs from a huge data volume in order to make the best possible decisions.
#financegoesdigital is all about taking on these challenges and one example of this is our Order 2 Cash (O2C) process. O2C is a prime example of how we drive the digital transformation through data analytics and our “Digital FIT Rate” tool allows us to measure and improve our process performance by digitalization of processes.
The results are impressive: In Fiscal 2018 alone, manual rework could be reduced by 11 percent while automation was increased by 24 percent, corresponding to an incredible number of 10 million manual activities less!
Do you want to know our secret recipe? A lean core team, engaged and passionate people all around the world who really saw the benefits and wanted to contribute. Add some clear KPIs, and a dash of spirit and collaboration spurring creativity and passion. Thank you to everyone who contributed!
Find out more and watch our new #financegoesdigital video report here:
Joe Guppy Consulting
5 年DON’T ROCK THE BOAT….?? Under the "don’t rock the boat" custom is a hidden power play by mgmt. and people simply clam up and let things go. By doing this they have let company brass go and cost the co more $$. Also they don’t want to “show up” the boss or boss’s boss. What the heck? Let’s assume you have a BA/BBA/CPA/ or MBA…. You have just put all that schooling on hold. You have learned many mgmt processes and solutions and that’s why they hired you. That schooling cost you and your parents a lot of time and $$. You put in the effort so now is the time….don't wait like me for when you retire to speak up. So don’t clam up. Big companies and govt ALWAYS have opportunities to be better and save $$. Get your better processes, ideas, education, and bravery out front and save the co time and $$. Now please. Joe 01/22/2019
Value chain excellence: Supply chain logistics and order management at Siemens Infrastructures
5 年Happy new year!
Unleashing Team Potential with kindness, generosity & creativity | Co-founder at LivingTeams | Empowering Teams to Excel and Achieve Extraordinary Results | 25+ years experience coaching executives
5 年Gia Thi Nguyen thanks for sharing the link. Huge congratulations to everyone. Some tips for the next level.... continue to encourage a Lear mindset, collaborative attitudes and skills in interpersonal and group dynamics in EVERY one in the community. A great inspiration is to read “an everyone culture”.... keep on being brilliant ....
Financial Director @ Advanced Manufacturing Services Limited | People Development, Finance
5 年Great work Judit Richwien and teams around the regions, collaboration and focus on specific key important goals really does bring tangible results . ??????????????
Lead P&O Strategy at Siemens Ltd.
5 年'The secret sauce is collaboration'....that sums it up perfectly!! #respect #financegoesdigital