The finance leader’s roadmap to finance transformation

There is growing pressure on finance teams to close faster, forecast more accurately, and deliver timely insights. But outdated consolidation and planning tools, disjointed data, and fragmented processes are slowing you down. To meet evolving expectations, forward-thinking organizations are embracing finance transformation: a strategic overhaul of finance through digitization, automation, and process improvement.

The goal of this modernization is to accelerate value added to the business by making finance faster, more accurate, and more agile. This is important because if your team is still forced to rely on siloed data, outdated on-premise systems, or slow manual reporting, you’re not operating and making decisions at the speed of modern business.

What is finance transformation?

Finance transformation is a fundamental shift in how finance teams operate — it modernizes the finance technology stack and centers on using cloud-based, real-time tools to improve financial decision-making. At its core, these modernization initiatives empower finance teams to: 

• Access live, integrated data across functions (corporate finance and business units, as well as other functions like HR, supply chain, and sales) 
• Automate close, consolidation, and reporting 
• Run scenario modeling and predictive analysis 
• Improve compliance and audit trails 
• React quickly to change

Yet, 99% of finance leaders cannot get the data they need from across the organization due to silos. Tools that may have worked in the past weren’t built for today’s pace of change. They also might carry hidden costs and fall short of today’s real-time decision-making demands. This is where finance transformation comes in. 

Why you should prioritize finance modernization

The risk of doing nothing is growing. Technological innovation has accelerated, while fierce competition and market disruption have become an everyday challenge. Within your organization itself, you might be facing business stagnation or strategy changes. You need to act fast. And to act fast, you need to make decisions based on accurate, real-time data. 

93% of finance executives say they don’t have access to real-time forecasting capabilities — and 87% of leaders report a detrimental time lag between when the data is collected and when the resulting business or revenue forecasts are presented to cross-functional stakeholders. That means too many finance teams are still reporting on past performance in static cycles using outdated, IT-dependent systems. The extrapolated data is often days — or even weeks — out of date by the time it reaches leadership.

For the business, this means:

• Slow close cycles that delay decision-making 
• Limited visibility across subsidiaries, business units, and regions 
• Higher costs due to IT dependency and consultant reliance 
• Increased risk from inconsistent processes and lack of auditability 

In contrast, cloud-native planning and consolidation tools provide a unified, real-time view of your financial position so you can act quickly, with confidence. It removes the manual burden from your team and enables fast adjustments when business needs shift, not just on a quarterly or yearly basis.

7 steps to accelerate your finance transformation

Modernizing your financial planning and consolidation isn’t just about leaving spreadsheets behind — it’s about changing how your team works, thinks, and adds value. Here are seven things to consider before you start. 

1. Understand what’s holding you back: Legacy systems are rigid, insecure, and tough to integrate. Slow data migrations, manual workarounds, delayed insights, and mounting IT support add up fast. Ask yourself: is the comfort of familiarity worth the price of falling behind? 
2. Track where you are now: Review your current financial processes and tools. Are they scalable, flexible, and collaborative? (hint: they should be all three). 
3. Prioritize compliance and security: Before adopting a new solution, assess any regulatory risks — and continue to monitor for issues as you roll them out.  
4. Lead the culture shift: Finance tools won't have the desired impact if employees can't (or won't) learn new habits. Encourage a mindset that values agility, automation, and data-driven decision-making over outdated manual workarounds. Ensure your tools are user-friendly. 
5. Establish what success looks like: How will you measure impact and how will transformation help you achieve your goals? Your finance modernization should be part of your strategic planning, not treated as separate initiatives.
6. Don’t skip change management: Regularly train your finance and accounting teams, update your processes, and have a plan to handle objections and missteps. This isn't just about education — it's about mitigating risk and tracking progress. 
7. Keep improving: Transformation isn’t a one-off project. Monitor what’s working, tweak what’s not, and keep evolving.  

Choosing the right software for your team

Visionary finance leaders are incorporating technologies that help automate routine tasks, surface valuable insights, and offer great flexibility and scalability. 

80% of leaders say their teams spend extra time each week making manual adjustments — time that could be reclaimed with automation. Tools that once required IT support, or were limited to large enterprises, are becoming more accessible and user-friendly, enabling finance teams to act faster and more independently. When choosing the right tools, focus on those that offer robust financial planning and true financial consolidation. This touches every aspect of the finance function, from data integration to forecasting to reporting to compliance. And it’s also where many legacy systems fail. 

So, what should you look for? Usability is a key consideration. Find a finance platform your team can run without constant help from IT with the following attributes: 

• Cloud-native, not just cloud-hosted
• No-code, so finance and accounting teams can make changes themselves
• Out-of-the-box, with built-in logic, calculations, templates, and workflows
• Fast to implement, often going live in weeks
• Fully integrated - reducing silos, improving collaboration, and increasing accuracy

Measuring the ROI of finance transformation

To assess the ROI of finance transformation in your business, start by setting clear KPIs that reflect time savings, cost reductions, and process efficiency. Look for direct links to revenue impact, such as faster forecasting, risk or opportunity identification, or better-informed decisions.

You should also factor in reduced manual interventions and compliance improvements. Weigh these gains against implementation and operational costs to get a realistic picture of value delivered.

By adopting modern planning and consolidation tools, you aren’t just keeping up with competition and the market — you're setting your organization up to get ahead and stay ahead. You can:

• Accelerate consolidated reporting cycles up to 90% faster with real-time data, automation, and built-in logic
• Reduce costs with no-code administration and no n for third-party consultants 
• Plan and forecast up to 50% faster
• Identify trends and opportunities up to 75% quicker with a planning, budgeting, and forecasting solution designed to scale alongside your business 
• Increase confidence and decrease audit time with record-to-report audit trails
• Improve agility by adapting reports and rules in minutes — without IT  

You get a complete, transparent view of your financial position. You cut down on manual work and error-prone processes. And you empower your team to spend more time on strategy, forecasting, and performance.

Ready to leave legacy behind?

Finance transformation isn’t just about technology upgrades — it’s about empowering your team with the tools and insight to lead with speed and confidence. If legacy systems are slowing you down, it’s time for a change. 

Discover how Anaplan’s no-code, cloud-native financial planning and consolidation solution gives finance teams the power to lead with confidence and transform their organization.