INSIGHT

Finance transformation roadmap: A path to strategic value 

Thomas White, Craig Hamm • June 25, 2025

Services: Finance Transformation

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Finance teams face mounting pressure to do more than just compile data and report on what happened. The modern finance function must transform from backward-looking information providers into forward-thinking strategic partners who drive business decisions and create value. 

A well-designed finance transformation roadmap is essential to successfully evolve your finance team from information processors to business impact drivers. Let’s explore how to create and implement an effective roadmap that aligns with your organization’s strategic goals. 

Understanding the finance transformation journey 

Finance transformation isn’t a single project — it’s a multi-phase journey that fundamentally changes how your finance function operates and provides ongoing value to the organization. 

Think of finance transformation as a strategic initiative that requires breaking down larger goals into manageable components. We’ve found this journey typically progresses through four key phases: 

1. Strategize – Building a solid foundation by assessing your current state and developing a future-state vision 

2. Plan – Creating an executable roadmap with a business case and resource allocation 

3. Build – Executing the transformation through program management and change management 

4. Run – Transitioning to continuous improvement in your new operating model 

The evolution from information to impact 

The finance function encompasses four fundamental activities that create increasing levels of value: 

• Information: Cleaning, compiling, and assembling relevant data 
• Insight: Analyzing information and relating it to objectives 
• Influence: Becoming a strategic partner to influence decisions 
• Impact: Providing strategic leadership to guide the organization forward 

Most finance teams find themselves trapped in information and insight activities when they’d prefer to focus on influence and impact. A successful transformation helps teams make this crucial shift. 

6 steps to build your finance transformation roadmap 

Creating a comprehensive roadmap gives your transformation effort direction and purpose. Here are six essential steps to develop an effective finance transformation roadmap: 

1. Assess your current state and define your vision 

Start by taking an honest look at where your finance function stands today. This assessment should include: 

• Reviewing your existing processes and identifying pain points 
• Talking to stakeholders across the organization about their finance needs 
• Benchmarking against industry standards and leading practices 
• Developing a clear vision of your future finance operating model 

This assessment phase is the foundation for everything that follows. We’ve observed across numerous client engagements that taking time upfront pays significant dividends later in the process. 

A comprehensive assessment helps you: 

• Reexamine existing strategy or define a new one 
• Identify technology gaps and skillset requirements
• Gain buy-in at all levels to foster the necessary mindset shift 
• Create short and mid-term objectives based on your vision 

2. Evaluate technology systems and solutions 

Technology is the engine that powers finance transformation. Look beyond simply automating existing processes and consider how technology can fundamentally change how your team operates. 

Modern finance functions leverage: 

• Robotic Process Automation (RPA) to streamline repetitive tasks at the information level 
• Machine learning to augment capabilities at the insight level 
• Predictive analytics to enable strategic planning at the influence level 

When evaluating technology, consider: 

• How well potential solutions align with your business goals 
• Integration capabilities with existing systems 
• Total cost of ownership and expected ROI 
• User experience and adoption requirements 

3. Redesign processes with governance in mind 

As you transform, document new processes and consider governance requirements upfront. This includes: 

• Aligning new implementations with relevant laws and regulations 
• Documenting new processes thoroughly for training and audit purposes
• Building controls directly into your processes 
• Implementing a process ownership model to maintain consistency 

4. Prioritize data security and integrity 

With increased automation and digital processes comes greater responsibility for data security. Your roadmap should address: 

• Conducting cybersecurity risk assessments 
• Implementing appropriate security measures
• Establishing data governance policies 
• Creating protocols for responding to potential breaches 

5. Develop a change management strategy 

Even the best-designed transformation will fail without proper change management. Your roadmap should include plans for: 

• Communicating the vision and benefits to all stakeholders 
• Providing comprehensive training for new systems and processes 
• Identifying and supporting change champions across the organization 
• Measuring and celebrating early wins to build momentum 

6. Plan for continuous improvement 

Your transformation doesn’t end at implementation. Include measures in your roadmap for: 

• Testing new configurations before full deployment 
• Monitoring performance against established KPIs 
• Gathering feedback from users and stakeholders 
• Regularly reassessing and optimizing your new processes and systems 

Building the right team for transformation success 

Finance transformation requires a diverse set of skills. Consider assembling a core team with specialties in: 

• Finance operations and strategy 
• Process design and optimization
• Technology implementation and integration
• Change management and communication 
• Project management 

In our experience, transformation success depends on quality rather than quantity when it comes to team composition. A small team of high performers with cross-functional knowledge can often accomplish more than a larger team of specialists. 

Upskilling for the future of finance 

As technology automates routine tasks, finance professionals need new skills to deliver strategic value. Focus on developing three key skill areas: 

Technical skills 

• Data analysis and interpretation 
• Digital literacy and technology proficiency 
• Process design and improvement 

Business skills 

• Strategic thinking and business partnering 
• Decision support and scenario planning 
• Performance management 

People skills 

• Storytelling and communication 
• Change leadership 
• Collaboration across functions 

Most importantly, foster a growth mindset within your team. The motivation to embrace change has been identified as the most critical factor for successful finance transformation. 

Common pitfalls to avoid 

As you embark on your finance transformation journey, be aware of these common pitfalls: 

• Starting with technology rather than strategy – Technology should enable your strategy, not define it 
• Tailoring platforms to fit current processes – This prevents you from adopting leading practices 
• Failing to gain executive sponsorship – Transformation requires top-down support 
• Underestimating the importance of change management – People issues, not technical issues, derail most transformations 
• Trying to do too much at once – Break your transformation into manageable phases 

Ready to start your finance transformation journey? 

At BPM, we help organizations navigate the complex process of finance transformation. Our team can support you in assessing your current state, developing a clear vision, and creating a roadmap tailored to your organization’s unique needs. 

“Building a finance function that can scale with your growth requires orchestrated changes across people, process, and technology. When you bring in professional support for that transformation, it frees up your leadership bandwidth to focus on what you do best – growing the business. And as you scale and look to attract investors, they want to see a finance operation that’s ready to handle their capital efficiently, not one that’s still figuring out basic reporting.” – Thomas White, Finance Transformation Leader   

We understand that each organization’s transformation journey is different. That’s why we take the time to understand your specific challenges and goals before recommending a path forward. 

Contact us today to discuss how we can help you transform your finance function from a data processor to a strategic business partner driving growth and value for your organization.