PRIMARY CONTACT: Patrick B. Armknecht CPA, CITP
The Schneider Downs Digital Transformation team leverages technological innovations and our business expertise to develop strategic transformative solutions that drive business process improvement for organizations of all sizes.
Schneider Downs defines Digital Transformation as, in its simplest terms, the use of technology and business process optimization to improve the stakeholder experience. Digital transformation is not a specific product or service, but rather a commitment to improvement through self-evaluation, innovation and technology. At its core, Digital Transformation involves evaluating the purpose, efficiency and effectiveness of processes, reimagining how processes should work and identifying and leveraging technology to execute upon the reimagined process. It requires a culture that supports innovation.
Schneider Downs Digital Transformation Solutions
Our solutions are built to identify and implement process and technology enhancements that are scalable and enable improved data reliability, productivity and timely reporting and analysis. Through our cross-functional team of risk and technology professionals, we provide insights and assistance in improving the foundational business processes of an organization and identify and implement technology to further automate and support those processes. Some of our areas of specialization include:
- Reporting, Planning, & Analytics
- Automation and Workflow
- Data Management & Integration
- Artificial Intelligence/Machine Learning
- Infrastructure and Cloud
- Compliance & Security
Benefits of Digital Transformation
- Data Accessibility and Reliability – Improve visibility to data and increase comfort over the completeness and accuracy of data utilized in financial reporting.
- Employee Engagement – Alleviate unnecessary or redundant tasks from employees, allowing time for them to focus on higher-value-added tasks.
- Enhanced Use of Existing Software – Identify features and functionality of existing business applications that are unutilized or underutilized to maximize existing investments and strengthen processes.
- Improved Reporting and Analytics - Improve timeliness and availability of financial and operational reporting and analytics to better support business insights that drive management decisions.
- Reduced Risk – Eliminate existing control gaps in processes while improving audit trails for compliance and regulatory requirements.
- Reduced Cost – Save time and money by freeing employees from non-value added tasks and by replacing patch-worked technology with robust multi-purpose solutions.
- Increased Revenue – Achieve better visibility into current processes and identify new opportunities for growth by recognizing and taking action on patterns and trends that otherwise would not have been visible or readily apparent.
- Streamlined and Standardized Processes - Reduce inefficiencies in existing processes and create additional efficiencies through automation, standard operating procedures and training.
- Improved Customer Relations – Provide better visibility into the customer experience and make more informed decisions related to buying habits, delivery of products and services, and support.
- Adapt to Change – Improvements to organizational flexibility to better respond to market disruptions and customer needs.
The Schneider Downs Digital Transformation Model
We work with our clients through three phases – Discover, Plan and Execute – to deliver solutions that incorporate both technology and enhanced business processes to improve the stakeholder experience.
- Discover: To make the best recommendations for your organization, we must first understand where you’re currently at by assessing the purpose, efficiency and effectiveness of your current processes and technology, including data architecture, in the identified business process areas. We’ll also assess the number of individuals and the amount of time it takes to perform the business processes. The result of the Discover phase will be recommendations to reimagine and strengthen existing processes and technology, as well as solutions to further enhance and automate the business process areas.
- Plan: The recommendations from the Discover phase will be reviewed and assessed collaboratively with you to establish which projects to execute and in what order, resulting in a prioritized plan for implementing the identified recommendations. The results of the Plan phase are detailed project plans and selected solutions with budgets, timelines, and resource requirements, setting you on the path to digital transformation.
- Execute: Once we know the opportunities and have agreed on a transformation plan, Schneider Downs will assist in the project management and solution implementation process through the Execute phase. Some of the areas our team assists with include:
- Data Governance
- Enterprise Risk Management
- Change Management
- Policies & Procedures
- Application Capabilities Optimization
- Employee Training
- Workflow & Approval
- Infrastructure & Cloud
- Business Process Automation
- Corporate Performance Management
- Data Integrations
- Data Analytics
- Internal Controls & Implementation
Working with our dedicated solution implementation teams, leading software vendors, and key partners, we will execute and manage the individual projects to ensure your projects are implemented collaboratively and in alignment with your organization’s overall goals and objectives.
Do I Need a Digital Transformation Solution?
Does your organization identify with one or more of the following triggering events? If so, our Digital Transformation solutions may be for you:
- Untimely or inaccurate operational or financial information to make informed business decisions
- Multiple locations lacking standardization or alignment of best practices
- Significant use of Excel to manipulate data for reporting
- Acquisitions or divestitures
- Accelerated growth outpacing current finance capabilities
- Key changes in management or significant employee turnover
- Succession planning
- Control environment failure or changes
- Staffing or cost reduction initiatives
- Recent fraud or accounting error
- Significant control deficiency, material weakness or concerning management letter comments
- Implementation of a new system or systems
Digital Transformation Resources
About Schneider Downs Technology and Data Services
Schneider Downs Technology Advisors are committed to providing value-added technology services and solutions to our clients. We strive to create an ongoing mutually beneficial relationship with our clients by focusing on client satisfaction, delivery of quality service and the continuous education and training of our staff. In today's demanding world market, one of the most challenging tasks facing a company is utilizing and processing information effectively and efficiently.
For more information contact the team at [email protected] or visit our dedicated Technology and Data Services page.