Digitalization is transforming Finnish society faster than ever before. For companies, the leap from analogue to digital is about much more than just IT projects.
It is about a huge structural change, including a review of the company's core functions. This involves a cultural transformation as well as a technological upshift. Things done in a certain way since the year dot now have to be done differently.
The era of digitalization has clearly moved from words to deeds. Fancy speeches have given way to action. The reasons for this are obvious.
Pioneering companies know that they need to focus on what they can do best if they want to stay ahead. Pretty well everything else can be managed by a top player in another sector.
Firms that specialize in a company's non-core activities are better at handling such tasks. World-beaters stick to being the best in areas in which they already excel. Just about everything else can be handed over to a reliable partner. This means that, instead of shoring up support functions, firms should channel scarce resources into digitalizing key processes and business models.
Few companies have financial administration as a core activity. Ideas and the resulting services and products are where these companies' interests lie. It makes no sense for a firm to invest in both the essential and that which supports the essential.
That is why financial administration processes should be outsourced to a partner tooled up with the latest expertise and technology in the area
Most of all, the partner should be passionate about bringing investment and expertise to bear on developing the entire process to meet future needs.
In many companies, old practices can be deeply embedded. For many others, the word 'outsourcing' can ring alarm bells. Such fears are unnecessary. Why should you fear succeeding in what you are best at?
An expert partner engaged in continuous competence development recognizes that it does more than provide the latest software – it takes responsibility for the entire process flow and development. That's how Enfo acts.
Digitalization provides the framework for the successful transformation of a business culture. This is challenging companies to question and recreate their prevailing practices, to make them even better and flexible in changing circumstances. Enfo is a digital financial administration partner that can develop itself and your business into a complete digital business.
The author, EVP Tero Kosunen, runs Enfo's Financial Process Service business area and is passionate about the digital economy. Tero began work in his new position on 1 January 2016, having previously served as Business Development and Finance Director at Enfo.