From numbers to nuance: How finance is becoming the engine of business growth

The traditional "back office" finance function is no longer just about reporting the numbers; it’s becoming the central nervous system of the business, a strategic partner driving growth and change. 

This was the central theme of our recent OneAdvanced Accelerate event at the iconic Battersea Power Station. We brought together some of the brightest minds in finance and technology to discuss how modern, AI-driven platforms are empowering finance leaders to move beyond spreadsheets and siloed systems. The message was clear: in an era of complexity and uncertainty, the highest-risk strategy is to do nothing. 

The problem with “Legacy Island” 

Many finance teams today are stuck on what we call "Legacy Island”. They’re battling disconnected data, manual processes, and systems that were never designed to work together. This chaos doesn't just create inefficiencies; it prevents a unified, real-time view of the business. The key is turning "muddled data" into "clear information" that stakeholders can actually use. 

And the problem isn't a lack of data; it's a lack of structure and a "single source of truth”. Without this, the finance function can't shift from reporting on what happened yesterday to advising what should happen tomorrow. 

The CFO as the ultimate change agent 

So, who is best positioned to lead this transformation? The CFO. They have a truly unique perspective. Not only do they understand the underlying numbers, but they also have the ability to influence every part of the organisation. Along with the CEO and CTO, they can be an agent for change, pushing for a process-centric approach to Finance, Spend, and Governance, rather than thinking in functional silos. For this change to happen they must have an “incessantly inquisitive" mindset and a constant "How can we do this better?" philosophy.  

This shift in approach is crucial throughout all the different teams, because true transformation isn't just about implementing new technology; it's about mastering data, fostering the right culture, and creating a continuous journey of improvement. 

Embracing the power of a platform 

What is the first step on the journey from “Legacy Island” to “Innovation Land”? It’s building the right bridge. 

The fix isn't another point solution that adds to the chaos. It’s a platform-based approach that unifies business processes. This allows for a flexible, composable tech architecture, where you can modernise your systems in a phased approach, minimising the associated disruption and cost. This approach also makes your business more agile, enabling you to adapt quickly to market changes and adopt emerging technologies like AI with greater ease. 

Speaking of AI, there's certainly a lot of hype. But the potential is very real. AI isn't here to replace people but to enhance productivity. The key is feeding it with unified and accurate data. When AI is embedded into your core systems, it can handle the repetitive, analytical tasks with unparalleled speed, freeing up your teams to focus on strategic, human-centric work. If the computer was a "bicycle for the brain” (as Steve Jobs once put it), then AI is a Maserati. 

Ready to build the bridge to innovation? 

Transformation is a journey, not a destination. It's about taking that somewhat daunting first step. The challenges are clear: data chaos, disparate systems, and the human resistance to change. But the opportunity is even clearer: to transform finance from a back-office function into the engine room of business growth. 

At OneAdvanced, we offer personalised pathways and expert guidance to ensure you’re not just buying software, but partnering for continued and shared long-term success, helping you to take that first step and build your bridge to modernisation.   

If you want to dive deeper into this topic, all the sessions from OneAdvanced Accelerate are now available to watch on-demand. This includes insightful talks from our CEO Simon Walsh, CFO Stephen Dews, and CTO Andrew Henderson. 

To learn more about how a composable, platform-based, AI-infused approach can help you accelerate your finance function, take a look at our FSG (Finance, Spend, & Governance) portfolio.