When strategizing a large-scale transformation project – for example, a complete migration and modernization of your contact center – there are key stakeholders across the organization that need to be involved. Getting everyone aligned is a great idea in theory, but can be an enormous challenge in practice.

Because every individual has their own concerns, challenges, and priorities to address, it can be easy for a project to get derailed when stakeholders feel their specific concerns are not being addressed.

One of the key stakeholders that is involved with every large-scale transformation project is the CFO. According to recent research¹, 72% of executives feel that the role of the CFO will either increase or significantly increase over the next 3-5 years. Moreover, 68% of CEOs surveyed feel that people highly value strategic insights from CFOs.

When dealing with your Chief Financial Officer, address these concerns outright and get their support for your transformation strategy from the start.

Three Top CFO Challenges

1. Determining ROI

One of the top concerns for anyone connected with finance – but particularly the CFO – will be figuring out a return on investment, or ROI. 71% of CFOs surveyed believe that digital transformation is foundational to future success. And an even greater number – 77% of those surveyed – base their own business case for digital transformation on strong ROI1.

However, almost half of CFOs – 48% – report that they cannot accurately evaluate the ROI of technology spending.

When approaching the CFO to gain support for a transformation, bring as much data as possible that will help them to determine the ROI of the completed project.

Pain Points of the CIO: Reduce Costs with a Cloud-Based Call Center

2. Forecasting Outcomes

Another concern for the CFO is projecting when this ROI can be achieved – accurately forecasting business outcomes across a timeline, to help set expectations throughout a project strategy and approval process.

Even among CFOs, the TVR (technology value realization) timeline varies wildly. 48% expect ROI to be achieved mainly in less than two years; 52% in 3-5 years or even longer. Helping the CFO to understand the time to value of a digital transformation project and communicate that to other stakeholders ensures that all parties are aligned and on the same page.

3. Aligning digital strategy with organizational goals.

The CFO is in a unique position in the organization. On one hand, they oversee a gatekeeping function: by determining the ROI and TVR of digital transformation projects, to determine whether a project is worth the investment. On the other hand, they have a cross-functional perspective: as finance is integral to Ops, IT, HR, and core business functions.

This means that the CFO is tasked with ensuring that a project can deliver specific business outcomes: but also that investments are driving progress toward long-term strategic goals. Helping a CFO to draw a line between an investment today and the realization of broad, organization-wide goals can get them into your corner – a valuable supporter for your digital transformation project.

To overcome CFO concerns regarding a large-scale transformation project, it is important to emphasize the long-term benefits to the organization. With a contact center modernization, a company improves ROI, lowers TCO, and achieves better data transparency for more accurate, updated tracking of critical KPIs. Moreover, having a unified technology solution in the contact center improves process efficiency today, and provides the basis for agile responses to future changes to the business environment.

How (and Why) to Create Organizational Alignment

Strategizing and executing a large-scale transformation project requires a champion to gain support across the organization. And while every department may agree on larger, organizational goals and objectives, they may also be derailed by the challenges of their own department.

Ensuring that the specific needs of key stakeholders will be met by a transformation project, and articulating that clearly, will help your project the support it needs for successful execution.

ACLIVITI has guided many organizations through CCaaS technology modernizations, using a proven methodology to ensure optimization and technology value realization.

Accelerate adoption, build alignment, and optimize strategies with ACLIVITI. Contact us to learn more! You may also be interested in our eBook