What should CEOs and CFOs look for during digital transformation?

What should CEOs and CFOs look for during digital transformation?

Businesses across industries are going through digital transformation. With several key players in the market offering cutting-edge ERP technology with a plethora of faculties, the question comes down to understanding the key determining factors while focusing on the business’s digital transformation. According to a recent report from Deloitte, 45% of companies have reportedly witnessed a positive impact due to digital transformation and increased net revenue growth. CEOs and CFOs of the organization, critical to the decision-making process, must focus on the following criteria while looking for a digital transformation. 

  • Features 

Leveraging the data for critical decisions within the organization is one of the primary reasons CFOs and CEOs invest in ERP. Real-time data visibility, analytics, supply chain management, and customer relationship management are key features that must be utilized to gain the most out of the digital transformation.

  • Usability 

A report from the CFO Research survey states that 60% of the budget is towards digital transformation. This percentage shows the usability of ERP in the organization. To that end, CFOs and CEOs must identify ERP solutions that work across the organization and improve the organization’s efficiency. User groups from different departments such as finance, sales, and marketing must leverage the organization’s capabilities to truly succeed in their digital transformation journey. 

  • Return On Investment (ROI)

 CFOs’ primary concern during the digital transformation journey is the ROI. To maximize the return from an ERP investment, focus on a feature-rich solution suitable for the company’s digital transformation journey while being affordable. SAP is a highly recommended ERP solution for organizations of different sizes. The range of products available spreads across industries and works well with businesses. 

  • Implementation process 

 When it comes to digital transformation, time is of the essence. Deploying ERP in an organization is a complex process. However, a sound ERP system such as SAP is known for its implementation timeframe. While considering digital transformation for your business, two primary criteria must be met – time and ERP type. CFOs must have a financial justification for choosing a cloud or on-premise solution, whereas CEOs should focus on the implementation duration. 

  • Reliable ERP partner

Organizations looking at implementing ERP must evaluate the partner. CEOs must focus on vertical experience and service offerings, while CFOs must look at the skillset of the team and the cost of implementation. These parameters are imperative to the ERP acquisition journey as having the right partner can make or break the business’s digital transformation process. 

Focused on delivering SAP products, IKYAM Solutions Pvt. Ltd is a dynamic organization that started in 2014. Over the last six years, Ikyam Solutions has carved a name for creating long-lasting relationships with its clients. Based in Bangalore, Ikyam is recognized as one of the focused SAP technology partners in South India. The team has over 100 trusted clients across industries, including healthcare, manufacturing, automotive retail, sales and distribution, and mature startups. Founded by four senior industry experts with over 70 years of experience between them, Ikyam helps provide solutions created exclusively for its clients to overcome roadblocks in digital transformations.

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