MOODY ’ S CORPORATION
technology is a significant component of this programme , it is the key enabler , but the people-perspective is at the heart of it all . Therefore , we ensured a key focus was on change management – we established a communications , training and engagement model that was thoughtful , intentional , timely and tailored to suit the varying needs of our stakeholders .”
As Jeff Klebanoff stresses , technology is not enough on its own ; it has to be absorbed into the culture of the organisation to drive the finance transformation journey .
Paretta explains : “ We launched this programme back in 2019 and before we even started with the technology , we took a step back to assess how the finance organisation needed to change to support the broader organisation ’ s strategic goals and objectives . We refer to this as the digitisation of finance and we started by looking at the operating model and structure of the finance organisation . Clearly ,
A phased approach Delivering significant change such as this has to be managed in a way that the organisation can effectively acclimate to new ways of working . As Paul Paretta describes : “ We phased the programme into major releases . First , we rolled out enabling technologies within the SAP S / 4HANA ecosystem ; our global core footprint included a suite of capabilities in accounts payable , fixed assets , general ledger , consolidations and management reporting .”
“ A key theme that cannot be emphasised enough is that these programmes are not easy to execute , and recognising when to adapt and pivot to changing circumstances has been a key success factor . We recognised the phasing strategy we initially set forth required even further decomposition . To that end , we introduced an additional phase that allowed us to de-risk and reduce the complexities of our next major release . In August 2021 , we deployed customer billing , tax , accounts receivable , cash applications and revenue accounting to our Moody ’ s Analytics business . In 2023 , we will kick-off deploying this same suite of capabilities to our Moody ’ s Investors Service business , which will benefit from the ‘ global design ’ we implemented during the second phase of the programme .”