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Shagun Goyal: Hello, I'm Shagun Goyal I help lead clients to their digital transformation journeys using Oracle Cloud and today I'm going to talk to you about an exciting topic that is top of mind for most of the CFOs.

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Shagun Goyal: And finance executives is also something I'm really passionate about.

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Shagun Goyal: I'm sure you are aware that we are currently going through the fourth industrial revolution, which is the digital revolution which actually started back in 2016

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Shagun Goyal: And back then, one would consider their organization digital by just doing some digital things like deploying a bot.

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Shagun Goyal: However, where we stand today simply doing digital things will not suffice for an organization to remain digital the journey from doing digital

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Shagun Goyal: To being digital requires an enterprise to fundamentally change how they leverage view and focus on digital enablers

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Shagun Goyal: As a matter of fact, let me share the secret recipe of being digital with you. It's a combination of two key ingredients, innovation and evolution.

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Shagun Goyal: Whereby innovation refers to applying technologies to existing and new business use cases and models to deliver ambitions that enable

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Shagun Goyal: What is needed at scale for exponential impact. Whereas evolution reference to continuous improvement approach by using the latest technology from cloud to stay relevant and create an always on value.

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Shagun Goyal: History corroborates the fact that technology is changing at a very fast pace and is becoming mainstream for business operations, very quickly.

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Shagun Goyal: For example, if you look back in history and assembly line and an automobile manufacturing facility look something like this.

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Shagun Goyal: Whereby it involves highly manual labor intensive processes. However, if you look at today's world. This is what today's assembly line looks like whereby it's difficult to even spot a person

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Shagun Goyal: It takes some more recent examples. If you look at retail industry.

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Shagun Goyal: consumer buying has largely moved away from shopping and brick and mortar stores to online shopping platforms. And if you look at the travel industry consumers are also largely moving to an app based on demand ride sharing platform.

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Shagun Goyal: So the question that arises now is, what does it mean to a CFO finance function. Why do they care.

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Shagun Goyal: The point being finance function is no different than others. And today is being distracted by the demands of rolling or new business models.

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Shagun Goyal: Increasing the cost to serve and providing near real time insights to the business partners for making strategic decisions.

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Shagun Goyal: As a matter of fact, digital is a true catalyst at cultivating a compelling case for change in the marketplace, enabling the office of finance basically value creation and reducing the cost to serve.

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Shagun Goyal: Again, if you look at today's finance function. This is how it looks like. Or I should say this is how it used to look like prior to Covid-19

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Shagun Goyal: But if we look at the near future. This is how finance function will operate with digital personal assistants real time command center dashboards and a combination of a human and digital workforce across the finance function.

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Shagun Goyal: So I want you to imagine a world with me, whereby 90% of the transaction processing is completely automated and touchless with Oracle Cloud robotics and Oracle blockchain.

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Shagun Goyal: Imagine a world whereby smart contracts self-execute transaction in a near real time basis across the ecosystem, whether it's your suppliers.

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Shagun Goyal: Customers, banks using Oracle blockchain. And imagine a goal when you have all this automation done. How could you actually save your cost to serve by approximately 40 to 60%

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Shagun Goyal: And let me tell you that this is not a futuristic world, but it's something that is happening now and it's all possible went to Deloitte and Oracle