A Riveron expert explores how CFOs and other business leaders are working with their advisors to create new value through business transformation, large-scale data initiatives, effective change management, and strategic organizational restructuring.
A version of this interview first appeared in CXOToday
Rather than adopting a straightforward "lift-and-shift" approach to technology implementations, we help CFOs and CIOs prioritize genuine transformation
What makes business transformation consulting important in today's market, and what are some common challenges companies face during these transformations?
Business transformation consulting serves as a catalyst that drives organizational change by creating new value, unlocking opportunities, driving growth, and enhancing efficiencies. As companies seek to maintain operational excellence and competitiveness, they increasingly rely on transformation experts for guidance in navigating their transformation journeys through large-scale data initiatives, effective change management, and organizational restructuring.
While organizations can benefit from integrating transformation strategies, these efforts often present their own set of challenges and hurdles. Engaging key stakeholders is crucial for a successful business transformation. Without the backing of leadership, employees, and external partners, transformation projects can suffer from resistance, delays, and failures. Early stakeholder engagement helps address concerns and secures necessary buy-in, facilitating smoother progress for a business transformation.
A well-defined change management strategy is essential for navigating the complexities of human and organizational change. One of my retail clients started a phased transformation project, segmented by key business areas. Involving affected team members who previously relied on disparate systems or manual processes, by providing visibility into the plan, engaging users early on, and offering pre-launch training with the technical team, we achieved a smoother go-live. This approach allowed us to gather continuous, constructive feedback and incorporate suggestions during the design phase, helping us avoid post-launch issues and the need for redesigns. Hence, user adoption is vital; even the most well-structured processes will fail without acceptance from end users.
Additionally, a lack of advanced technical expertise leads to technical failures and inflated costs. Security concerns – particularly regarding data protection, are paramount. When introducing new technologies as part of a transformation initiative, organizations must ensure that new systems are secure and compliant. Timely decision-making is also critical; delays can lead to missed opportunities and diminished momentum. Lastly, user adoption is vital; even the most well-structured processes will fail without acceptance from end users. Providing thorough training and continuous support is crucial for realizing desired outcomes and ensuring long-term success. For example, postponing key decisions—such as connecting different geographies to a centralized platform—can later hinder an organization's ability to provide a clear, real-time dashboard and limit overall visibility across regions.
What role does Riveron – play in supporting companies through business transformation initiatives?
As a global organization with professionals across 18 offices, we partner with clients on a full suite of transformative solutions focused on the Office of the CFO, mergers and acquisitions, and distress. At Riveron, we pride ourselves on understanding each client's unique challenges and delivering tailored solutions that are both innovative and highly effective. Our senior leaders remain actively involved throughout every stage of our client's transformation processes, ensuring superior quality while aligning closely with our client's strategic objectives. Rather than adopting a straightforward "lift-and-shift" approach to technology implementations, we help CFOs and CIOs prioritize genuine transformation by reshaping processes and systems, which empowers our clients to tackle their current challenges and face future complexities effectively. This approach creates a significant impact within each organization, equipping clients for sustainable, long-term success.
Are there any sectors that you believe will benefit significantly from implementing business transformation strategies?
Business transformation transcends industry verticals, offering significant benefits across the board, although companies in certain industries might enjoy deeper benefits from implementing these strategies. For example, the energy sector can leverage transformation to improve operational efficiencies, meet sustainability goals, and adapt to regulatory changes, all while integrating new technologies like renewable energy solutions. In manufacturing, transformation can enhance production processes through automation, data-driven decision-making, and innovation in supply chain management, leading to cost savings and increased productivity. The supply chain also benefits as transformation enables better tracking, visibility, agility, and resilience in global logistics.
Overall, companies across sectors require business transformation to unlock new growth opportunities, drive efficiencies, and maintain a competitive edge—not just in the present but also for the future.
What are some emerging innovative solutions the company is looking to incorporate?
Innovative solutions that drive efficiency and value for our clients drive success. One of our key focuses is on intelligent automation through artificial intelligence (AI) and robotic process automation (RPA). These technologies will empower our clients to streamline their operations, reduce manual workloads, and enhance decision-making processes. In particular, our company leaders have observed that CFOs are eager to explore the possible benefits of AI and how it can streamline and elevate the finance function. Many of these finance leaders are open to the idea of using AI technologies to supplement financial analysis and automate routine tasks, provided that critical financial and operational data can be safeguarded while using AI technologies and tools.
Additionally, we are excited about the potential of no-code/low-code platforms. These tools enable organizations to develop custom applications and workflows quickly and cost-effectively, all without needing extensive programming skills in ML/Ops. These solutions also help businesses go to market faster and provide a more rapid return on investment.
When advising clients on adopting emerging and transformative technologies, we emphasize the importance of balancing immediate gains with long-term ROI. By implementing these advanced technologies, business leaders can deliver quick wins that enhance operational efficiency while ensuring that transformation solutions provide sustainable value for years to come.
What is your perspective on green solutions and initiatives, and is Riveron – working to help companies adopt more sustainable technology practices?
We are dedicated to assisting companies in adopting green solutions initiatives that foster sustainability. In our technology advisory practice, we advocate for the use of as-a-service models, which allow organizations to share IT resources and reduce overprovisioning, thereby minimizing environmental impact through optimized resource utilization. Additionally, we promote the transition to electronic records and documents to significantly decrease paper waste, enhancing operational efficiency while contributing to a more sustainable future.
Beyond technology, as part of our comprehensive expertise, Riveron also advises companies on environmental, social, and governance (ESG) strategies and reporting, which companies should strategically align to their business goals, applicable regulations and guidance, and their organization's unique ability to make an impact. We understand the importance of implementing strategic communications and training programs to educate employees about sustainable practices. By fostering a culture of sustainability, we empower teams to make informed decisions that align with environmental objectives and drive meaningful change.
What are some of the trends that will be observed in business transformation consulting in 2025?
In 2025, a primary focus will be on AI and machine learning integration, as organizations leverage these technologies to enhance decision-making and automate processes for greater efficiency. In addition to AI, we can expect metrics and visualizations to also gain importance, with companies seeking sophisticated analytics to measure performance and drive data-informed decisions. Additionally, an emphasis on cybersecurity will become crucial, as businesses recognize the need to protect sensitive data and maintain customer trust in an increasingly digital world.
Optimizing customer and user experience will remain a priority, with organizations striving to enhance engagement through personalized services and seamless interactions across finance, operations, and other key functions. Finally, as organizations are more pressed for resources and in-house expertise, we anticipate a growing trend toward finance and accounting outsourcing (whether this means interim management or other types of managed services), which enables companies to streamline operations and focus on core activities while benefiting from specialized expertise.
Together, these trends will promote more integrated, data-driven, and customer-focused strategies in business transformation consulting, effectively responding to the changing demands of the market.
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