Mr. Gemmecker, what do you think is important when it comes to the introduction of new digital technologies?
It is often less about the technology itself (laughs). What's more important is that people are prepared for the new digital tools and understand the possibilities they offer for our work. In one current product, for example, we are introducing artificial intelligence for the analysis of data. A machine learning algorithm that has been trained by us calculates precise forecast models. In this way, the new technology will help make our budget planning significantly more accurate in the future, among other things. If we are able to explain this benefit to our co-workers, the transition will be faster and easier. But this will only work with the requisite amount of faith.
What do you mean by that?
When we incorporate new technologies into our established financial processes, we usually do so during ongoing operations. Sometimes we have the old and new systems run in parallel for a while. This creates a feeling of security, and if the outcomes are the same or perhaps even better, it slowly engenders confidence in the new algorithms and tools. We also invest heavily in our ability to explain the new solutions. Then there is the fact that digitization often leads to collaboration between teams that had previously not had much to do with each other. Data experts suddenly find themselves working hand in hand with finance experts. In this case as well, trust needs to be built up.
How do we achieve that trust?
Transparency is particularly important. You only get trust if the new solution is comprehensible and the benefit is clearly tangible. That is why we talk to our co-workers from an early stage, and work as a single team that transcends departmental boundaries. That is the only way that we can overcome the shared challenge of transforming the Finance unit.
So interpersonal dialog seems to be a success factor. How do you deal with that in these times of working remotely?
Interpersonal dialog is more important now than it has ever been. Thanks to modern digital cooperation software, it also works well in the current situation. In our Data & Analytics training program as well, we are focusing even more than before on eLearning.
