How should finance teams prioritize which processes to automate first in FP&A transformation?
Answered at 26:04 in Inside the CFO Office | EP 26 | RPA in FP&A | with Aaron Zhou · Inside the CFO Office
How should finance teams prioritize which processes to automate first in FP&A transformation?
Prioritize using a matrix: quick wins have highest benefit with lowest complexity and should be done first since robots build quickly and generate highest benefits; must-do initiatives have highest benefit but high complexity so still execute them; low hanging fruit has lowest benefit and lowest complexity; long-term strategic initiatives have lowest benefit but highest complexity. For low-complexity tasks, operations teams can learn tools like UiPath or Microsoft Power Automation; for high-complexity initiatives, engage internal RPA teams, developers, or external consultants.
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In short
Prioritize using a matrix: quick wins have highest benefit with lowest complexity and should be done first since robots build quickly and generate highest benefits; must-do initiatives have highest benefit but high complexity so still execute them; low hang…
Aaron Zhou, Senior Global Leadership Position in Finance Transformation · Inside the CFO Office | EP 26 | RPA in FP&A | with Aaron Zhou · Inside the CFO Office · answer at 26:04
Quote to remember
“FP&A is a skill set, technology is a tool. Technology is an enabler for FP&A professionals to do their jobs better at a higher standard.”
— Aaron Zhou
The full answer · about 4 min
Prioritize using a matrix: quick wins have highest benefit with lowest complexity and should be done first since robots build quickly and generate highest benefits; must-do initiatives have highest benefit but high complexity so still execute them; low hanging fruit has lowest benefit and lowest complexity; long-term strategic initiatives have lowest benefit but highest complexity. For low-complexity tasks, operations teams can learn tools like UiPath or Microsoft Power Automation; for high-complexity initiatives, engage internal RPA teams, developers, or external consultants.
Key facts
- Aaron's career spans 20 years in finance
- First 10 years spent in corporate accounting at organizations like GE, Wally, RPS, Rio Tinto
- Last 8 years in senior global leadership position driving finance transformation