Bulletproof Your Next Tech Initiative: The CFO Guide for Technology Readiness

Technology upgrades and workflow automation are among the most pressing initiatives for 37% of CFOs, yet 46% identify these same areas as major capability gaps within their teams. This stark contrast highlights a critical challenge: as finance leaders, we must not only drive technological advancement but also ensure our teams are ready to leverage these new tools effectively. To bridge this gap and boost your finance function's technology readiness, we're excited to share insights from the "Technology Readiness Playbook" - a comprehensive resource designed to help CFOs effectively plan, prepare, and execute successful technology projects while simultaneously addressing the crucial need for team upskilling and adaptability.

The Tech Readiness Playbook outlines a structured approach to ensure technology investments deliver maximum ROI and align with broader organizational goals. Let's dive into the key components:

THE CFO DECISION TREE:

• Aligning ROI and Stakeholder Impact
• Identifying Prerequisites
• Understanding Technology Roadmap Impact

TEAM ENGAGEMENT:

• Managing Change
• Aligning the Working Group

By following the structured approach laid out in the Tech Readiness Playbook, CFOs can develop a comprehensive plan to select, implement, and optimize new technologies in a way that maximizes ROI and aligns with broader organizational goals.

Access the full Technology Readiness Playbook for an in-depth guide to implementing this framework. The comprehensive PDF includes:

• Detailed explanations of each component of the CFO Decision Tree and Team Engagement sections
• Step-by-step instructions for using the Technology Readiness Worksheet
• Additional insights from the 2024 Mid-Market CFO Sentiment Study on technology initiatives and capability gaps
• The complete Technology Readiness Worksheet template for immediate use in your next tech initiative

Ben Lehrer is the CEO of First Water Finance, the Relational Finance platform that enhances and maintains top-tier FP&A functions, prepares businesses and teams for transactions, executes on capital introduction and M&A initiatives, and develops finance leaders and their teams. Over 100 business owners, finance leaders, and capital partners have trusted First Water Finance to create better visibility into performance and forecasts, plot the course for financing requirements and stakeholder objectives, and maximize value in transactions. At First Water Finance, we believe finance is a people sport, and we help you win through deep finance expertise and experience, relationship alignment, and a network of trusted capital partners and solution providers.