20 Steps For Overcoming Digital Growing Pains In Financial Operations
Below are 20 ways Forbes Finance Council members suggest anticipating common adoption challenges and guiding your organization through them with more clarity and less churn. Follow their recommendations to align new tech tools with workflows, people and long-term strategy.
1. Clarify The Why To Build Teamwide Buy-In
Tech adoption isn't just about efficiency—it's about clarity and connection. When teams understand the purpose and potential of new tools, they're more likely to embrace them. Start with the 'why.' - Sonya Thadhani Mughal, Bailard, Inc.
2. Customize AI Tools To Match Financial Realities
As we continue to navigate the complexities of technology adoption, AI is a game-changer for gaining insights and driving productivity. However, generic tools can fall short in addressing unique nuances in financial operations, leaving us vulnerable to security risks. Finance leaders must prioritize solutions that are not only secure but also tailored to meet their teams' needs. - Darrell Heaps, Q4
3. Standardize Processes To Eliminate Friction
One of the main challenges in adopting digital tools is the lack of centralized data, standardized inputs and processes and clear governance structures. Leaders can overcome this by standardizing inputs, integrating systems, aligning processes with strategic goals, establishing cross-functional accountability and promoting a culture of continuous, real-time and collaborative forecasting. - Anna Chekashova, Arc Games Group
4. Map Data Flows Before You Integrate Systems
Digital tools are fantastic ways to streamline and automate information for finance operations. A challenge organizations face during the transition process is integrating with downstream and upstream systems. While the output may be exciting, organizations need to invest in understanding what information, APIs or data are needed to connect the dots to function as planned and deliver the intended output. - Tony Jarjoura, CPA, Gigamon
5. Assess Broad Needs To Avoid Underutilized Tech
One major challenge organizations face when adopting digital tools is underutilization. Often, businesses implement technology to address a single, immediate need without fully exploring the broader capabilities of the platform. To overcome this, they should conduct a thorough needs assessment to ensure a comprehensive tool is selected that meets multiple needs and avoids wasted investment. - Shannan Herbert, Washington Area Community Investment Fund
Forbes Finance Council is an invitation-only organization for executives in successful accounting, financial planning and wealth management firms. Do I qualify?
6. Test Tools Against Real-World User Expectations
A new digital tool or platform must be worth the friction of adoption and must solve the end user's problem. Why would I download the Barnes & Noble app when I can keep using Amazon, which has more variety and free two-day shipping? Test new technology to ensure it truly delivers the gains it promises for your company and, most importantly, for the people you are asking to adopt it. - Leo Anzoleaga, Leo Anzoleaga Group at Luminate Bank
7. Design Support Around Familiar Workflows
Leaders must recognize where their teams need support, especially with the talent crunch and the demand for departments to do more with limited headcount. To overcome these challenges, leaders should prioritize tools that mirror familiar workflows, involve end-users in decisions, and ensure strong onboarding and support. Empowerment and ease-of-use drive faster adoption and better ROI. - Mike Whitmire, FloQast
8. Balance Flexibility And Cost In Open API Adoption
One key challenge we faced when we built our technology stack was balancing the high upfront and ongoing technological costs with the benefits of open APIs. While open APIs offer flexibility, integration ease and future scalability, implementing and securing them requires major investment. This tension can slow adoption or lead to fragmented systems if not managed strategically. - Brian Dunhill, DF-direct
9. Retire Legacy Systems To Maximize New Tools
Filter out the noise. New tools promise to streamline and automate, but two things matter most: ensure the platform fits your end-to-end workflow to avoid costly workarounds, and drive full adoption. Without buy-in and a clear plan to retire old systems, even the best tools fall short. - Ryan Kunkel, Third Road Management
10. Reduce Tool Overload To Restore Clarity
Finance teams are facing digital overload right now. According to our research, nearly half (49%) of financial decision-makers say that digital tool overload is making them go back to using spreadsheets and even calculators. This warns of the potential damage that can be done by inefficient tools that don't integrate well, complicating financial decision-making when clarity is most needed. - Jeppe Rindom, Pleo
11. Plan Phased Rollouts To Bridge Legacy Gaps
A major challenge is integrating new digital tools with legacy systems. Business leaders can overcome this by creating phased implementation plans, training staff early and choosing platforms with strong API compatibility to ensure smooth transitions. - Andre Pennington, Pennington Law
12. Align Adoption With Cultural Readiness
One key challenge is aligning digital adoption with cultural readiness. New tools fail when they outpace internal buy-in. Leaders must invest as much in change management and cross-functional training as in tech itself, ensuring adoption is purpose-driven, not compliance-led. - Aurele Gouy, Hackman Capital Partners
13. Combat Digital Fatigue With Thoughtful Rollouts
A key challenge in adopting digital tools across financial operations is employee digital fatigue and cognitive overload. Leaders can overcome this by rolling out platforms in phases, scheduling digital downtime and promoting mindfulness. This thoughtful approach protects well-being, increases adoption and ensures a smoother, more sustainable transformation. - Elie Nour, NOUR PRIVATE WEALTH
14. Focus On Real-World Problems, Not Novelty
One key challenge is adopting them just because they're new, not because they solve a real problem. We ensure every new platform addresses a specific need, focusing on practical outcomes and choosing tools that genuinely improve efficiency and accuracy. We also regularly review all our tools to ensure they remain fit for purpose, adapting or replacing them as our needs evolve to maintain optimal performance and value. - Andrew Collis, Moneypenny
15. Invite Critical Users To Shape The Rollout
When first installed, digital tools and platforms can feel more like a burden than a benefit. Novel appliances' disruption of the status quo can leave employees feeling stressed and uncertain. Investing the time up front to host training sessions and promote employee buy-in will go a long way in speeding up adoption. Success is more likely when critical employees contribute to the end product. - Helen Mason, Riveron
16. Foster A Culture That Supports Learning Curves
The real barrier to digital adoption isn't the software—it's the people. Many employees, especially in finance, feel overwhelmed or insecure using new tools but are too embarrassed to admit it. The first step to overcoming this challenge isn't more tech. It's more empathy. Make it okay for team members to say, 'I don't get this yet.' Build a culture where curiosity is valued over perfection. - Karla Dennis, KDA Inc.
17. Address AI Fears With Transparency And Trust
A key challenge is the fear of AI. Concerns about job loss, reduced control and lack of human oversight create resistance from staff to executives. Financial teams, often risk-averse, hesitate to replace manual processes. Uncertainty around AI's role and benefits slows adoption, even when digital tools offer greater accuracy, efficiency and strategic insight. - Alan Chaffee, Turning Point Strategic Advisors
18. Rethink Processes Before You Layer On Tools
One of the biggest challenges is adoption without alignment—implementing digital tools without rethinking underlying processes and culture. To lead effectively, visionary executives must drive process reengineering, foster a data-first mindset and embed change management at every level, ensuring technology adoption translates into measurable financial impact and enterprise agility. - Swati Deepak Kumar (Nema), Citigroup
19. Protect High-Stakes Clients With Human-Centric Security
Digital transformation comes with security challenges. For firms serving high-net-worth clients, it's not enough to rely on two-factor authentication alone—the best safeguard is knowing an individual. There's no substitute for a personal relationship because business isn't just business; it's personal. The value of in-person connections can't be overlooked, in security or business. - Neil Kawashima, McDermott Will & Emery
20. Tailor Training To Each Team's Value Lens
A key challenge is helping firm members understand not just how a new tool works, but how it benefits their specific role. Since benefits vary by department, leaders should tailor training to highlight relevant value. Materials must be clear and accessible. Strong communication and department-specific guidance are essential for successful adoption. - Dessy Prasad, RIA Innovations
The information provided here is not investment, tax, or financial advice. You should consult with a licensed professional for advice concerning your specific situation.
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