The global software fintech Serrala specializes in digitized, highly automated financial processes. CFOs and their teams advance from back-office operators to active shapers of the company's success by proactively driving digitization forward – as long as they cleverly and set up finance processes for the future.

Digitization offers an incredible opportunity for a comprehensive upgrade of finance departments. The analysis of data, for example, which used to take hours, can be done now in the blink of an eye with modern IT platforms. Those who want to secure "first mover" advantages against their competition require automated financial processes and real-time data to support fast, accurate business decisions. CFOs must choose whether their finance department will continue to operate "old school" or whether they will seize the opportunity to "digitally upgrade" if they want to become a significant value creator for the entire business.

Real-time processes, cash flows and liquidity

Progress is always the best defense, especially in crises. During the corona era, companies recognized the added value of digital financial processes. Being able to view a company's financial data in real-time finally became a competitive advantage. At the same time, finance departments and companies were facing increasing business complexity, volatile markets, new regulations, fraud attempts, data security breaches, and more. The pressure on CFOs and finance teams was increasing multi-dimensionally. However, widespread use of manual processes made it impossible for CFOs to master such a situation. Financial decisions had to be made quickly and CFOs needed to know: Do I have real-time transparency of all financial processes, cash flows, and liquidity? Can I make payments quickly and do I know all my incoming and outgoing payments? What investments do I need to make now to fund the business’ short, mid-,and long-term goals? Tomorrow's business success depends on knowing these answers.

One central system – highly automated and secure

The good news is that financial technologies are highly sophisticated these days. With innovative financial process automation software, companies can handle their payment processes efficiently and digitally. Fintech Serrala integrates all finance and treasury payments into one centralized end-to-end system, creating more secure payment options for companies of all sizes worldwide. "We support CFOs and finance departments in their process automation efforts and transition finance functions into the digital future," said Christoph Dubies, chief operating officer at Serrala. "We help them save costs, minimize risks and make real-time data-driven decisions."

The leap into the digital "Office of the CFO”

Dubies outlines why CFOs need to embrace these technologies now: If all financial processes and payments are automated and optimized in the digital CFO office, all challenges can be addressed quickly. Cloud technologies or "as a service" offerings complete what existing ERP systems may lack. All process steps in accounts payable or accounts receivable, in payment transactions, and above all in fraud prevention and data protection can be digitized or automated from end to end. The result: processes are more efficient, error-free, and secure thanks to the use of technology that can detect critical patterns before damage occurs.

In short, no company can avoid automated finance and payment processes. The question is rather when and to what extent they make the leap to the digital "Office of the CFO". There is no such thing as "one size fits all" in digitization," says Serrala CEO Sven Lindemann. "Change requires strategic foresight and economic calculation. But then new opportunities open up, especially for the CFO, to help shape the core business." Where the board previously had to base its decisions on data in financial reports, with digitization CFOs can proactively provide the board with real-time data and valuable insights into the latest risks and opportunities.

More information: www.serrala.com/