Finance-as-a-Service (FaaS) brings the efficiency of the on-demand model to the world of CFOs and other finance executives. And while some organizations are already implementing their FaaS strategies, others may just be starting to talk about how this powerful business transformation vehicle will impact their people, processes, choice of technologies—and future success.
To better understand the who, what, why, and where of FaaS, I sat down with Matt Schwenderman, principal global Workday finance lead at Deloitte, and Scott Van Valkenburgh, global alliances and channels lead at Genpact. They share experienced insights about the mindsets and discussions needed to use FaaS to help decentralize the role of finance, improve value, facilitate greater flexibility, support a multigenerational workforce, and yes, even buy outcomes.
Below you’ll find a few excerpts from my conversation, edited for clarity. You can also find other Workday Podcasts here.
“Information and technologies—such as cloud services—are assets that are driving change in how businesses do work. . . . And to understand and leverage these technologies, and take advantage of information as an asset, we need to start looking at two things. One is putting data science as a capability, where you use your understanding of emerging
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