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Modern Management in the Era of Digital Transformation
CFO's Perspective

The role of today’s CFO extends far beyond traditional financial management. Modern finance leaders are evolving into change agents, steering their organizations toward a competitive edge through the adoption of cutting-edge technologies. Magdalena Ociepka, CFO of WEBCON, shared her insights on the importance of this transformation in the context of digital evolution. She elaborates on how technology enhances strategic decision-making and how CFOs can play a pivotal role in driving long-term growth and fostering innovation within their organizations.
Magdalena Ociepka
Chief Financial Officer w WEBCON

A leader with 20 years of experience in the financial sector, specializing in M&A processes, investor relations, and collaboration with private equity funds. She has extensive expertise in IPOs, financial transformation, and the implementation of IT solutions that support planning, analysis, and reporting processes. She began her career at Big4, Deloitte and later gained international experience at Tesco Plc. She also oversaw the finances of the InPost Group during its landmark IPO on Euronext in 2021 and a bond issuance. Additionally, she has held CFO roles in international companies, including as Group CFO at SALESmanago and CFO at Aterima Group.

WEBCON: Just a few years ago, the CFO was mainly seen as a financial controller, focused on reporting. How does that role look today? How has the CFO's role evolved in the context of digital transformation?

Magdalena Ociepka: The role of the CFO has changed significantly in response to the evolving business environment and increasing volatility, demanding timely and effective responses. What was once primarily an accounting function focused on reporting results according to established standards has now become crucial for navigating the turbulent waters of today’s economy. Digital transformation aims to enhance operational speed by accelerating processes and enabling data collection at every stage, which is essential for both process optimization and controlling revenues and costs. Without automation tools, a CFO has no chance to become the strategic leader a company needs in today’s VUCA world.

And what are the key priorities when it comes to automation and digitalization of business processes? It seems like having real-time financial insights is crucial. What specific aspects matter the most here?

The top priority is the access to real-time information (in practical terms, this translates to D+1 reporting). Automating and digitizing key processes related to cost and revenue management are crucial for efficiently obtaining and processing this data. By streamlining these processes, organizations will not only save time and resources but also gain real-time insights into the profit and loss statement. Additionally, automation allows for automatic cost control within the established budget and introduces an early warning system if any budget line is at risk of being exceeded.

Exactly, the budget! Financial planning is always a big challenge, especially when it comes to investing in digitalization. What are the main difficulties in financing such projects? The investment comes first, while the benefits take time to materialize. How can a CFO convince the board that it’s worth it?

The primary challenge in implementing digitization and automation tools is that costs often precede substantial benefits, and quantifying those benefits at the outset can be difficult when building a solid business case. Therefore, it is essential to choose tools that do not require massive investments over a 1-2 year period with millions in outlays but rather select those that allow for quicker implementation of process components. This approach allows organizations to validate potential savings and efficiencies in a shorter timeframe. CFOs must avoid lengthy processes that might result in failure. Agile process improvements also facilitate funding for further investments from current savings, which is vital in today’s environment where “cash is king.”

How can we measure the effectiveness of such investments? What key performance indicators should we focus on?

These indicators can be categorized into two groups: quantitative and qualitative. Quantitative indicators include various forms of savings including time savings, reduction in the number of personnel required to complete a task, and paper savings. Qualitative indicators encompass the quality of data obtained through automated processes (such as validated or correctly categorized data) and the quality of reporting achieved through automation, both during data collection and in presentation.

This all sounds very forward-thinking, but digitalization doesn’t just impact business results—it also affects people. How does automation change workplace culture?

Every digital transformation process consists of three elements: process, people, and system. It is impossible to achieve success without addressing all three components. That’s why ensuring that employees are engaged and “brought on board” with the planned changes is crucial. Implementing automation tools may raise concerns among employees, but it is the leader’s responsibility to address and alleviate those fears. The goal of digitization and automation is not to eliminate jobs but to free up time for more valuable work.

WEBCON Magazine: Impact

Explore the second edition of Impact, an exclusive magazine dedicated to digital transformation. In this issue, you’ll find insightful interviews with WEBCON leaders, in-depth analyses of the company’s development, and inspiring success stories from clients and partners who have created cutting-edge solutions using WEBCON BPS. Get ready for an inspiring read that’s just a click away!
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At WEBCON, digital transformation isn’t a buzzword – it’s a way of life; it’s about reducing steps, eliminating mistakes, ensuring compliance, connecting assets, and encouraging continuous improvement – all that thanks to the modern Low-code Application Platform. Applications made with our Low Code Application Platform, WEBCON BPS, are scalable, process-centric, low-to-no-code, equally at home online or on-premises, and happily used on both desktops and mobile devices. WEBCON’s unique InstantChange™ technology lets customers adapt/evolve processes to address changing needs immediately and painlessly. WEBCON processes are clearly understood and easily governed, and they can be connected to lines of business systems, documents, forms, messages, and collaboration workspaces. Low Code Automation has never been easier.

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WEBCON is the leading European-based provider of a complete Low-code Application Platform for mass delivering business solutions. Companies choose WEBCON to dramatically reduce time and cost of app development. The platform allows them to automate and manage business processes across the entire organization – using a single, unified platform. Thanks to its unique InstantChange™ technology, WEBCON embraces change like no other platform on the market.
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