17. Çözüm Ortaklığı Platformu "The Future of Finance" - the future is now! "Finans'ın Geleceği" - Gelecek çok yakın!

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1 17. Çözüm Ortaklığı Platformu "The Future of Finance" - the future is now! "Finans'ın Geleceği" - Gelecek çok yakın! Tankut İkizler CFO Hizmetleri Lideri Direktör/ Danışmanlık

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3 Challenges of the CFO Finance has to navigate in an increasingly challenging world Deal with Political Uncertainty in Turbulent Times Compete with New Business Models Pick the Right Technologies at the Right Time Leverage Insight through Analytics Integrate Non-Financial Data Fix the Data Base

4 Finance Resource Allocation The Future of Finance from Scorekeeper to Performance Driver Insight and action Compliance and control ++ + Efficiency potential Insights and actions Scorekeeping From Scorekeeper - - Compliance and control Scorekeeping to Performance Driver A true Performance Driver deep business insights & contextual dependencies critical thinking & deep data analytics actionable, forward-looking actions from high-quality data

5 Digitization supports your Finance function to master these current and future challenges IMPROVE EFFECTIVENESS TO MEET BUSINESS DEMAND IMPROVE EFFICIENCY TO MEET COST AMBITION GENERATE INSIGHTS Build Finance as the one provider of business analysis for all business models by enabling robust strategic decisions on how to develop future profit pools (e.g. Predictive Analytics for 3 rd party Sales or commodity price development) COMPETENCE BUNDLING Bundle digital competences throughout the whole Finance function (e.g. in Centers of special Competence) to optimize capacity while increasing the value-add of Finance MANAGE DATA Develop Finance as the data owner/ manager to ensure consistent and transparent information as base to generate insights STANDARDIZATION & AUTOMATION Leverage the full automation potential (e.g. Workflows, Robotic Process Automation) based on standardized Finance processes USE LATEST TECHNOLOGY Fully established next Gen ERP backbone (e.g. S/4 HANA), supported by Business Intelligence innovations and advanced analytics applications (e.g. Power BI, Inspirient, Predictive Analytics Suite)

6 Some of the new or revised technological tools that increase the Finance Experience Budgeting & Forecasting Reporting & Visualization Predictive Analytics New, smart tactical tools Robotic Process Automation (RPA) Description End to end integration and automation of planning activities Sharing information with large audiences, story telling Cognitive framework to develop insights, applying learning from experience Quick-wins solving specific problems very efficiently Automation of End-User manual transaction Why Now Faster & cheaper to deploy (cloud) Enhanced mobile experience, easier to manage big data, affordable Increased data availability, easier to use and understand More tools, reliable and affordable than ever New and promising technology Provider OCR systems for cheques or invoice handling, Bank Connectivity systems

7 New Budgeting and Forecasting tools enable a simulation-based planning for both strategic planning and operational target setting Modelling Visual, intuitive editor Drag & Drop (programming-free) Financial & operative data Integrated collaboration fx Simulation Ad-hoc scenario simulation Assumptions about driver values Measure orientation Flexible and comprehensible Visualization Multidimensional analysis Discussion of alternatives Presentations & Dashboards Workflow support S1 S2

8 New breed of Reporting and Data Visualization tools from Scorekeeper to Performance Driver Data Cleansing & Integration Built-in data integration tools Easy data manipulation and mapping, less dependency on IT Built-in integration to external data sources (maps, google analytics, facebook etc.) Processing Multi dimensional data structures Ability summarize and calculate large amounts of data Ability apply statistical models and generate insights Visualization Contain user experience best practices, enhanced designer, predefined color schemes, story boards Easy to create new reports and analysis Mobile applications

9 PwC s Predictive Analytics Suite (PAS) identifies and leverages the identification of key leading indicators for your business Integration and preparation of raw data The application automatically checks how independent variables are related to objective variable. Modelling approach also takes links between individual drivers into account Visualization of time series and generation of explanation models In the next step results of the analysis are automatically integrated into a multiple or simultaneous equation dynamic forecast model Creation of sound forecasts in confidence levels The forecast model shows how objective variable is influenced by business drivers. The predicted values are calculated along with their probabilities within a given range

10 New smart, tactical tools offer great quick-wins: Example: Bank Connectivity Bank Relationship Management Monitoring all bank accounts on one screen Manage account signatories Approval workflow to support changes to accounts and signatories Calculate volume variances using daily bank reporting Financial Transactions Debt, FX, IR derivatives, investment transaction tracking and management Integration with ERP and accounting systems Multi-currency translation and reporting capabilities Document attachment and audit trails Payment Management Workflow-based approval and notifications Digital signatures and secure transmission Acknowledgements of payments Payment dashboards Initiation of third-party payments

11 Optimization of the closing process Robotic Process Automation for an international logistics company Situation Many manual and repetitive activities within the scope of monthly closing, e.g. o Creation of P&L reports o Comparison actual vs. budget figures High workload of the employees in the days before and during the closing process High expenditure for the preparation of reports - little time for the analysis of the data and derivation of measures Our solution and result The optimized closing process has automated 21 tasks and eliminated 1 of the 30 tasks with standardized Excel templates, standardized Outlook templates, ERP reports and SharePoint tools through RPA 80% time savings achieved during the closing period Target Significant reduction in workload during closing Automation of manual closing activities via RPA

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13 Key suggestions during your digitalization journey Invest in data quality now - it will be the number one challenge/enabler for digitalization Work on the techsavvy culture Increase the technical skills of your finance team, especially with analytical tools Balance short term quick-wins and big scale projects Revise operating model, adapt the way you work to new technologies. Not the other way around.

14 Key suggestions during your digitalization journey Finally. Start with Assessing your «digital maturity» Identifying digitization opportunities Developing a digital finance roadmap before jumping right into implementation

15 Digital Finance Maturity Assessment as a base to develop a comprehensive roadmap Profound digital maturity assessment and ambition level 5 A. Degree of Digitization in Finance Digital Finance Strategy B. IT-Landscape (Finance related) based on qualitative and quantitative analysis Self-assessment Peer Benchmark (median) Ambition Level C. People & Culture 1 = Late Follower 2 = Digital Novice 3 = Vertical Integrator 4 = Horizontal Collaborator 5 = Digital Champion

16 Digital Solutions Digital Solutions Digital Solutions Identifying digitization potentials in your Finance function through a series of workshops EXEMPLARY Selected Digital Solutions FINANCE FUNCTION RISK & INSURANCE ACCOUTING, TAX & COMPLIANCE FINANCIAL CO INVESTMENT & FINANCIAL PERFORMANCE MGMT TREASURY Accounting E2E Processes CFO Risk & Insurance ACC, Tax & Compliance Financial Controlling Invest. & Fin. Performance Mgmt Treasury Accounts Payables 1. Workflow Accounts Receivables Fixed Assets 4. Siri for ACC General Ledger etc. Tax E2E Processes VAT 5. VAT ID Look 2. Robotics 3. AP 4.0 People & Culture: Digital capabilities and change demand within the organization Based on your defined digital Finance strategy we derive measures to reach the target state. In our workshop series we analyze together with you the best digital solution/ options. Therefore we leverage our PwC Europe network and bring in specialized Subject Matter Experts and collaboration partners etc.

17 Client example Digital Finance Roadmap DIGITAL FINANCE ROADMAP

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