In a recent webinar, we discussed “How to maximize the synergy between the finance department and other departments” together with Roberta Rosenburg, CFO of Husqvarna LATAM, and Roberto Nunes, HR Business Partner of Fagron.
Here we highlight the most important parts of this discussion.
The challenges of digitization
When we talk about digitization, something that has been growing a lot in the last few years, it’s not just about implementing a simple process. After all, it is a project that involves obsolete or missing technologies from a certain company and people that are used to working in a certain way.
There are several risks and challenges that can impact the digitization process. However, for Roberta Rosenburg, the goal is not to look at these issues, but at the growth opportunities that digital transformation can bring to the company.
The head of Husqvarna’s financial department is in favour of digitalization and points out that one of the biggest challenges is to understand that “the great is not the enemy of the good”. This vision helps to abandon manual processes and gradually move towards the implementation of digital models for dealing with finances.
Why companies in the UK are more focused on collaboration between Finance and IT
How the HR sector can contribute to this process
When we talk about the changes brought about by digital transformation, we are actually dealing with people, processes and technologies. That is why there needs to be a synergy between the financial departments, human resources and IT, which form a kind of pyramid dependency.
The HR area, responsible for people management, is very important for selecting the right employees who will choose the solution and implement it in the best possible way. They are the key to involving employees and good adoption of new technologies.
“HR is very important because they are in contact with the company’s leaders, accompany them in training and help them transform into multipliers within the organization.“
Roberto Nunes, HR Business Partner at Fagron
Involvement of multiple areas
As this pyramid that was mentioned earlier reveals, there can (and needs) to be a great synergy between the different departments of the company. Only once the company departments are talking to each other can the digitization process actually take place.
At Fagron, this integration between HR and the finance department was important to overcome the challenges of digital transformation. In the organization, the reimbursement process was completely manual and took about 20-30 days. It was not entirely clear how much money the company was reimbursing employees. The employees felt uncomfortable with the change, so it was essential for the human resources department to ensure security and agility.
Lack of data as a trigger for change
As Roberto pointed out during the conversation, not having the right information can be a big problem for the organization. The lack of data prevents the company from making the right decisions for what needs to be corrected for the smooth running of the business. However, this “problem” can also be an important trigger for change.
The head of the financial department at Husqvarna comments that, even if the company focuses on digitizing 100% of the processes, a lack of data will always exist (to a greater or lesser degree). What needs to motivate digital transformation is demand, the need to digitize processes that can bring tangible benefits to the company.
Train existing employees or hire new ones?
When talking about the changes brought about by digital transformation, it is inevitable to deal with the need for people prepared for this new phase. In this sense, the human resources area has a major dilemma: train existing employees or go after people with other competencies?
For Fagron, the answer is clear: “For us re-educating, training employees and retaining talent is much better for the organization than paying for the selection process and looking for new people in the job market”, comments Roberto Nunes, HR Business Partner in the company.
In Roberta’s opinion, this process depends on different variables, which includes the employee himself, who needs to be willing to face the changes that are necessary for digital transformation.
“In the job of the future, the processes are changing a lot. In the past, everything was done in Excel and the resources provided by Business Intelligence and automation did not exist. More and more people are evolving and doing their activities in different ways, but the person needs to desire this change and seek to participate in this digital transformation ”
Roberta Rosenburg, CFO of Husqvarna LATAM
In order to be able to implement large projects – such as the digital transformation of processes – it is necessary for the different departments to be in close contact with each other. But how often should leaders meet? For Roberta, this contact needs to be as frequent as possible, daily if necessary, to establish a close relationship between the departments. As CFO at Husqvarna, she talks to HR and other departments every day with the aim of improving communication.
Roberto, from Fagron, also shares the same opinion. And he comments that the human resources department is generally only sought after by other managers when a problem arises and needs to be solved. The exchange of experience between departments is certainly beneficial, even in informal conversations or without the need to set a specific time for this sharing of information.
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