Panelists:
- Amie Thuener — VP, Chief Accounting Officer and Corporate Controller — Alphabet Inc.
- Saqib Baig — CFO of Commercial Business Unit — One Peloton
- Meg Dholabhai — VP of Finance — HP
As a strategic business partner of FEI, Forvis Mazars had the opportunity to moderate a panel at FEI’s 2025 Corporate Financial Reporting Insights (CFRI) Conference. The panel session brought together finance leaders from Alphabet, Peloton, and HP to discuss how digital transformation is reshaping the finance function. With the rapid evolution of artificial intelligence (AI), automation, analytics, and cloud computing, organizations are challenged to rethink how they operate, analyze, and lead. However, instead of theorizing about the art of the possible with AI and the latest technology solutions, panelists reminded the audience that transformation is more than tools and technology—it’s just as much about people, data, and processes. Throughout the session, panelists shared real-world stories, lessons learned, and strategies from their experience in driving digital transformation.
Key Insights
1. Focus on the business problem and scale thoughtfully.
Digital transformation isn’t about chasing trends, but rather solving real business pain points.
Digital transformation begins with identifying and simplifying business challenges. This problem-first mindset ensures that efforts are anchored in tangible business needs, rather than using the latest digital and technology innovations in search of a problem. By focusing on the underlying issues, whether they relate to process bottlenecks, data inconsistencies, or cross-functional misalignment, finance leaders can set a purposeful direction for change that resonates across the enterprise.
Once the business problem is clearly defined, organizations are better positioned to evaluate and redesign their processes for greater impact. This approach encourages simplification and a cross-functional understanding of enterprise processes before any technology is introduced, reducing complexity and the risk of carrying forward inefficient or outdated workflows. It also promotes collaboration among stakeholders, as teams work together to clarify objectives, align on terminology, and understand end-to-end business processes.
The panel emphasized that technology should be the enabler, not the starting point. Technology should be strategically selected and implemented in response to well-understood business needs. This approach helps avoid misalignment where tools are deployed without a clear purpose, and instead helps align investments in AI, automation, and analytics with strategic goals. Ultimately, starting with the business problem empowers finance leaders to unlock efficiencies, strengthen controls, and position their organizations for long-term success.
2. Enterprise alignment and strong processes are essential.
Strong processes are the foundation of digital transformation. Without them, technology only amplifies inefficiencies.
Achieving meaningful digital transformation in finance requires more than isolated improvements within the finance function. It demands end-to-end process alignment across the entire organization. Many transformation efforts stall when processes are fragmented or owned by separate departments, leading to duplicated efforts, inconsistent data, and persistent silos. By establishing clear process ownership and fostering cross-functional collaboration, organizations can clearly identify business pain points and create a holistic approach to transformation. This alignment ensures that objectives, terminology, and accountability are consistent, enabling teams to work toward shared goals and drive enterprisewide efficiency.
A process-centric approach also encourages organizations to explore how workflows intersect with other business teams. When finance leaders collaborate with stakeholders across the enterprise, they gain a better understanding of how upstream activities influence downstream outcomes. This perspective is critical for identifying root causes of inefficiency and designing solutions that address the full scope of business challenges. Strong, aligned processes provide the backbone for successful transformation, supporting automation, analytics, and strategic decision making.
3. Prioritize clean, accessible upstream data.
Reliable, consistent reporting depends on understanding the where, what, and why of data origination.
A robust data foundation is essential for reliable reporting, effective decision making, and scalable automation. Organizations of various sizes, including our panel participants, face data challenges, from inconsistent data sources to limited access and unclear ownership. Transformation efforts are often hindered by poor data quality, resulting in errors, inefficiencies, and costly downstream interventions. While data lakes and warehouses may already exist, business and finance teams may struggle to access them. To overcome these obstacles, finance leaders must focus on cleaning and standardizing data at the source by addressing upstream issues before they reach the finance function.
Prioritizing what data is truly essential for business decisions helps streamline operations and reduce complexity. The panel agreed that reliable, consistent reporting depends on understanding where data originates and why. Accessible data empowers teams to leverage advanced analytics and AI, driving faster insights and more informed decisions. Investing in data quality and accessibility is a necessary strategic enabler for long-term transformation success.
4. Address the “fear” of AI and its impact on the workforce.
Digital transformation succeeds when people see technology as a partner, not a threat.
As organizations embark upon their digital transformation journeys, AI adoption and automation often spark anxiety among employees about job security and shifting roles. This apprehension is not unfounded, as technology is changing the nature of work, and professionals may worry that their roles will become obsolete or that machines will replace human judgment. However, the reality is that successful transformation depends on people as much as it does on technology. Adaptability and the ability to work alongside evolving technology are critical skills for the future.
To address these concerns, organizations should support their workforce through transparent communication and provide opportunities for hands-on involvement in digital transformation initiatives. Rather than viewing AI as a threat, employees should be empowered to see technology as a partner. Programs that encourage co-creation of solutions and experimentation can help build confidence and foster a positive culture around embracing these digital tools. As technology continues to change and new tools are introduced, the key is a workforce prepared to learn and evolve.
5. Manage expectations and embrace experimentation.
Managing expectations and encouraging experimentation are critical to sustaining momentum.
It is essential for leadership to set realistic expectations as to what AI can truly deliver and communicate that across the organization. The messaging should be clear about what technology can and cannot achieve, setting realistic goals, and recognizing that meaningful change takes time. By balancing projects with clear, measurable ROI and those that are more experimental, organizations can drive toward future growth and avoid overpromising and underdelivering.
Experimentation is critical. Teams closest to business challenges should be empowered with freedom to test new tools and solutions with strong controls in place to achieve safe and scalable outcomes. This approach encourages creativity and agility while ensuring that risk is contained and resources are used effectively.
A balanced portfolio strategy is key to managing both expectations and experimentation. Organizations should allocate resources to projects that deliver measurable outcomes and achievable ROI, while also investing in experimental initiatives that explore future growth opportunities. This allows finance leaders to drive immediate value and foster a culture of innovation.
Conclusion
Digital transformation is an ongoing journey. Focus on simplification and integration for long-term success.
Digital transformation is a continuous evolution, driven by business needs and enabled by technology and talent. New technologies and risks emerge rapidly, while business models shift. Organizations that treat transformation as a “set it and forget it” initiative often fall behind. Instead, leaders must embrace agility, continuous learning, and realistic expectations. Leadership must set realistic expectations about what AI and automation can deliver, and prioritize resources accordingly—balancing projects with strong ROI and experimental initiatives that drive future growth.
If you’d like to watch the full CFRI Webinar and explore these topics in more detail, a replay is available. Visit the CFRI Webinar Replay Schedule to access the session and continue your learning journey.
How Forvis Mazars Can Help
As organizations navigate the evolving business landscape, embracing AI and digital transformation is essential for staying competitive. From streamlining operations to unlocking new growth opportunities, Forvis Mazars is here to help businesses adapt and thrive. Explore our AI Consulting Services and Digital Transformation Services or connect with one of our professionals to learn how we can help you drive innovation and efficiency.