Have you heard the buzz term “digital transformation” but have no idea what it means? In the simplest terms, digital transformation means integrating digital technology into every facet of your business in streamlining processes, operational systems, and bringing greater value to your clients.  It is also a cultural change, making sure your entire team is on board with adopting new automated technologies and AI – so that you can better operate both internally and externally.

As your company (and financials) continue to grow, we understand that your accounting, operational, and service needs become more complex. The main challenge is knowing how to leverage the right new technology that will support your business strategy and adapt to your company’s data needs. This is where Critical Connexion comes into play to help you with your digital transformation.

Digital transformation means integrating and using your current and future digital technologies to revamp how your business operates, connects and engages with customers, and keeps up with financial obligations. Yes, digital transformation affects all areas of business, which is why it is integral for all types of businesses: small, medium and large. That way, your company will remain competitive in a world where EVERYTHING is becoming digital.

As you add employees, increase your customer base, and expand your product offerings, you may find your basic financial spreadsheets become too convoluted, you’re not engaging with your customers, and you aren’t moving beyond the status quo. This means your company may need a digital transformation!

Choosing the RIGHT Cloud-Based Services

We are continuously helping our clients keep up with this much-needed digital transformation by assisting them with the incorporation of new digital technology. Our team can propose new technology specifically based on your company’s needs – we know there is no “one-size-fits-all” solution when it comes to digital transformation, and it can be extremely difficult to identify what this term means to your specific situation.

Although many business leaders equate the term “digital transformation” to a popular way of saying “move to the cloud,” they aren’t too far off. Digital transformation may look different for every company, yet there are staples that can be used to help companies operate more efficiently and deliver value to customers. Moving to the cloud is a significant first step to figuring out what it means to be “digital” and incorporating this term into your company’s culture.

At Critical Connexion, the technology that we currently use to help our clients with their own digital transformation are cloud-based services like NetSuite and QuickBooks. The choice of technology really depends on your company’s needs, which we will determine after careful examination and consideration to help companies move from their vision of digital transformation to a seamless execution of these “new” services.

For example, many smaller businesses have found that QuickBooks is a great starting point for their accounting and bookkeeping because it is very user-friendly and has a lower price point than NetSuite. Although not as multifaceted as NetSuite, QuickBooks does assist with income and expense tracking, financial report creation (i.e., income statements and balance sheets), basic tracking of cashflow, and bank and credit card integration.

QuickBooks is perfect for standard bookkeeping and accounting, and we take the complexity of accounting needs into consideration when helping our clients consider their data transformation needs. Once we notice that a client’s accounting needs move beyond the realm of more simple spreadsheets or the bookkeeping aspects of QuickBooks, we help them integrate more complex cloud-based services, like NetSuite, into their digital transformation.

Staying Financially Organized through NetSuite

As you may have noticed, the main driver of digital transformation is technology. Yet, this is easier said than done since detaching from outdated technology you may have been using for decades can be difficult. We have talked to our own clients about what their businesses need in their digital transformation and have found that a major issue in the business world is having a better way to stay financially organized. This is a good first start to moving forward with innovation, and luckily, Critical Connexion offers a solution through the implementation of a cloud-based ERP and Financial system like NetSuite.

NetSuite is the “next-step” financial management solution option for companies that need real-time data, customizable fields and dashboards, preconfigured KPIs, HR management software, integrated planning and budgeting, and more! NetSuite also has a unique feature we have found to be vital for our clients – financial regulatory and compliance management.

• Financial Management – Easily track accounts payables and receivables, review general ledgers, and forecast and budget the future of your company through financial planning and analysis.
• Supply Chain Management – If we find your company also needs order, production, or inventory management, these options would also be incorporated into your data transformation.
• E-commerce and Retail – Do you have point of sale needs, e-commerce help, or marketing automation requirements? These are other aspects of your business we will discover to ensure your data transformation is fulfilling the specific needs of your company.
• Professional Service Automation – Your digital transformation should also encompass any management needs that may arise: project, resource, time sheet, and expense management, to name a few.

We help our clients analyze their business transactions by line item, create detailed financial reports, and determine specific calculations so they don’t have to do anything manually and risk human error mistakes.

Your Digital Transformation Doesn’t Stop There

Many companies simply use QuickBooks or NetSuite and hope for the best, but we supplement these cloud-based services with a variety of other systems so that our clients are leveraging the most comprehensive new technology for their business and their customers, including:

• Ramp – a finance automation platform that keeps your corporate cards, bill payments, and accounting all in one management solution.
• Brex – There is a reason companies like DoorDash, hims, and SONOS use Brex, as it is an easy-to-use spend management platform.
• Divvy and Expensify – These are both expense management software platforms we sometimes incorporate to supplement other accounting methods.
• com – We have found this cloud-based software platform is a great start for small businesses that need to simplify their financial and accounting processes.

Other cloud-based expense management software and financial platforms we sometimes help our clients incorporate into their digital transformation are Nexonia, Greenslate, PEX card, and Cashet Pay. If you are overwhelmed by all of these options, don’t worry – our experts will help you choose the right technology that supports your specific business strategy. Critical Connexion can help you automate and keep track of your financial needs by helping you take the next step of employing a cloud-based ERP.

COVID Also Changed the World of Digital Transformation

The COVID-19 pandemic placed the incorporation of digital transformation goals to the forefront – it is no longer an option, but a necessity. On the external front, COVID has shown how a company’s ability to adapt in a world where immediacy is key, whether it is the changing of customer expectations, to market pressures, or supply chain interferences.

For example, your customers may now look for digital tools like chatbots so that they can get answers immediately from the comfort of their home. Or, you may face supply chain issues that, if not dealt with instantaneously, could stifle your company’s bottom line. Enhancing and improving your business’s digital systems is now a requirement in our post-pandemic world.

Not only that, but internally your employees’ work experience has also transformed post-COVID.  Remote working has become the norm, and employees now expect some flexibility in their company’s workplace standards. So, we also help transform our clients’ digital communication methods by helping them incorporate digital technologies like Sharepoint, BOX, DropBox, Zoom, or Microsoft Teams.

These video conferencing tools are the best way to meet face-to-face via a remote collaboration setting to discuss finances, business strategies, and incorporate screen sharing for PowerPoint presentations or collaborations.

Where Do We Begin?

We have talked a lot about the information technology side of your business, and IT does play a huge role in your company’s digital transformation approach. Critical Connexion can partner with your business to help you implement digital technology, evaluate data analytics and KPIs so that your company can seamlessly adapt to this ever-changing digital world to help you scale and accelerate your brand success. That way, your organization can enhance your employee experience, customer experience, and operational experience through a successful digital transformation.

About Critical Connexion:

Critical Connexion is a distinguished business management & consulting firm that focuses on leveraging a foundation of leading finance, HR management, strategic sourcing, risk & operations experts to accelerate brand success for clients.

We specialize in navigating the evolving landscape of corporate growth by adeptly addressing changing systems, process, and people requirements. Recognizing the substantial nature of technology and changing business needs, we ensure that these resources are directed with foresight and expertise. We are your extended partners for business growth, scaling seamlessly and brand elevation.

Contact Us:
Ph: 213-798-6676
Email: [email protected]