Finance Transformations: Shifting from push to pull
At Definia, finance transformations are at the core of many of our completed and ongoing projects. As companies navigate shifting technologies and market conditions, they’re leveraging transformation initiatives to enhance efficiency, data accuracy, and adaptability—paving the way for greater agility and strategic value.
Definia collaborates closely with our partner company, Investigo, when supporting clients through their transformations. By offering customised solutions and roadmaps aligned to industry best practices, Definia identifies the specific change support required. If interim staffing is necessary, this is where Investigo steps in to provide additional expertise.
Recently, our Brand Manager, Becca Boulton, sat down with Harrison Bristowe, Senior Partner at Investigo, to gain insights on finance transformation and how he works closely with the Definia team and clients.
Can you tell us a bit more about finance transformations in the market right now and what you’re seeing?
A lot of the time when it comes to finance transformations, it is driven by a push factor – and this is really the crux of this conversation. Finance transformation can be an overlooked opportunity to create a foundation for growth or improve the way an organisation operates. If we’re specifically talking about technology enabled programmes within Finance Transformation, it’s an incredible opportunity to establish better processes, data governance, and controls across the organisation, because finance touches everything.
Finance impacts nearly every function—from procurement and purchasing to customer service and accounting. Integrating ERP systems can streamline processes across these functions while enhancing reporting capabilities through BI and MI tools, enabling better data-driven decision-making.
We often hear the reason for many organisations implement an ERP is because their current system is outdated, unsupported, or nearing end-of-life by the tech house. However, this really should be seen less as a push factor and more as a pull factor—a chance to build a better foundation for growth. Even if growth isn’t the focus, it could enable opportunities for efficiencies through streamlining processes or gaining clearer financial insights.
For Definia, it’s about how we approach program risk. That’s crucial in defining how we engage, which is why my conversations often begin with understanding the problem or opportunity, and then working out how we can best support —whether that’s through interim staffing or consulting solutions.
Do you see finance transformation becoming more prominent as we move into next year? Are perspectives changing?
As we move into the coming year, the need for finance transformation is growing. One key driver is the impending end-of-support for SAP ECC 6, a widely used on-prem system in the UK. Companies still relying on ECC 6 face increasing risks if they haven’t transitioned to a cloud-based alternative. This creates urgency for many organisations to transform, though ERP is just one piece of the puzzle. The benefits extend beyond finance to the entire organisation, encouraging businesses to explore enhanced financial reporting, data tools, and improved data accuracy.
When embarking on an ERP journey, discussions around shared services often arise, as the financial data produced by those services is crucial. If a company is undergoing significant change, it makes sense to evaluate shared service transformation alongside ERP.
Economic factors also play a role. In the private equity (PE) space, the model of buy, transform, grow, and sell drives transformation projects, especially in small to mid-cap businesses. High interest rates have slowed PE activity, but as rates decline, we expect renewed momentum in finance transformation projects.
On a global scale, geopolitical challenges continue to disrupt operations. Companies with supply chains or markets affected by global conflicts have adopted a cautious approach, focusing on financial stability rather than major transformation initiatives. However, as political and economic stability improves (as we hope it does) —with developments like the UK general election and US political shifts—we anticipate a more favourable environment for business spending and transformative projects.
If your organisation is considering a finance transformation or looking to optimise your current processes, the Definia team is here to help. Our experts are ready to guide you through every step—from strategy to implementation—ensuring your transformation drives real value and aligns with your business goals.
Contact us today to explore how we can support your finance transformation journey and set your business up for success.
