Jasmine Ahmed is an experienced Global Head of Finance Transformation, who has worked for organisations such as Coca-Cola, WPP and News Corp. She gave us her thoughts on how Finance functions can maximise the investment in an ERP transformation.
ERP implementations can transform the finance function. However, organisations generally have a poor track record when migrating to a new Enterprise Resource Planning (ERP) system.
According to a 2024 survey by Rimini Street and Censuswide Research across 3,000 CFOs and CIOs, ERP investments have created the least value for CFOs compared to other technology investments. Additionally, ERP implementations are often complex, high-risk, and demanding. As a result, CFOs tend to postpone ERP implementations as long as possible.
But as we move toward 2025, postponing ERP implementations is becoming less feasible. CFOs face mounting pressure to accelerate digitalisation at scale. With SAP’s announcement that support for SAP ECC will end in 2027, and only 30% of SAP ECC customers having upgraded their ERP solution, the urgency is palpable.
When done well, ERP solutions create lasting value by:
A successful ERP journey requires active engagement and partnership between finance and technology teams throughout the selection, implementation, and adoption phases. Based on my experiences and learnings across diverse organisations, the three phases provide details on steps to shift your ERP transformation from a technical upgrade to elevating the finance function.
Finance teams are known for working long hours to support diverse stakeholders, including the business, customers, partners, investors, and regulators. Amid monthly, quarterly, and annual responsibilities, finance teams often focus on resolving immediate issues and find little opportunity to align as a group on shared ambitions.
Before embarking on an ERP investment, it is essential to bring the community together, dismantling silos and aligning on a strategic ERP vision. By uniting the various finance disciplines, baseline requirements become inclusive, providing a way to systematically prioritize needs.
With rising business expectations, finance has an opportunity to redefine its value by shifting from generating financial reporting to driving data-driven decision-making. Partner with technology to determine how it can support this vision. This approach can transform the ERP investment from a mere technology upgrade to a transformational journey, ensuring that foundational requirements remain intact. Use the insights from the discussions with the technology team to summarise and prioritise the key requirements for the ERP solution.
Before initiating implementation activities, agree on the level of change the finance community is comfortable embracing as they transition from current practices to new ones. Successfully realising ERP value requires the finance team to move beyond ERP technical jargon, envisioning how they will integrate the ERP solution into daily operations.
For example, finance teams may need to pivot from on-premises ERP solutions to cloud-based platforms, embracing ongoing product enhancements. Increasing the finance community’s understanding of the impact of change encourages accountability, accepting trade-offs, and upfront planning.
Work with key subject matter experts to define a shared end-to-end view of in-scope processes without disregarding each team’s unique practices. Start by recognising that distinct workflows often address specific business needs and identify the best ways to address them.
A solution-driven approach helps unify diverse teams around scalable, agile processes and fosters a mindset of continuous innovation post-implementation.
Hold design workshops to map data requirements across corporate and local teams, connecting data needs to business decision-making. Identify and prioritise data cleansing and enrichment opportunities, laying the foundation for future AI and Machine Learning capabilities.
There is rarely a perfect time for Go-Live. Finance and technology teams should jointly define Go-Live criteria and consider the trade-offs. This collaborative approach not only enhances transparency but also allows for the development of necessary contingency plans, ensuring shared accountability for delivering a successful ERP on time and within budget.
A successful Go-Live is only the beginning. Dedicated ERP process teams should focus on adoption efforts post-implementation, providing training and ensuring ERP functionalities are used as intended while maintaining data quality standards.
Finance teams often rely solely on technology teams to manage relationships with ERP providers. However, it is equally important for finance to foster a partnership with them, facilitating digital literacy within the finance team and providing user insights to the provider. This relationship enables finance to enhance and operationalise ongoing product enhancements effectively.
Ongoing innovation in finance processes improves user experience and maintains engagement. Focusing on incremental improvements rather than perfection, without compromising agility, helps finance embrace emerging technology in a systematic, scalable way to strategically enhance workflows.
ERP transformations should not be perceived as burdensome projects. Instead, they can be catalysts for building a future of finance—one with frictionless processes and powerful data insights for fast, scalable decision-making.
Achieving this vision requires active finance engagement from the start, partnering with technology to maintain strategic focus, adhere to timelines and budgets, and uphold day-to-day financial responsibilities. Post Go-Live, ongoing adoption efforts will create sustained ERP value.
CFOs and finance leaders should consider investing in dedicated finance transformation capability to serve as their truster advisor, unite diverse perspectives, and supporting their teams throughout the journey.
