How do you lead meaningful transformation when finance is pulled in every direction?
That was the central theme of our recent conversation with Monica Proothi, VP and Senior Partner at IBM Consulting, and Global Finance Transformation Lead. With decades of experience driving change at scale, Monica shared her perspective on what it really takes to move finance forward, without waiting for perfect conditions.
Here are five takeaways from the episode:
1. Finance’s role is changing, and that’s a good thing
Monica opened by reflecting on the shift she sees in the finance function. The traditional role of finance, reporting the past, is giving way to a more active, future-facing position.
In her words,
“Finance is no longer just the newsroom. It is helping create the news.”
Today’s CFOs are expected to drive strategy, unlock growth, and help shape experiences for customers and employees alike. It is a broader brief, but it is also an opportunity to lead.
2. Small steps with AI lead to real wins
AI is not new to finance, and Monica is clear-eyed about that. IBM has been applying it for over a decade. What is new is the rise of generative AI and its potential to deliver faster, more nuanced insights.
Her advice? Do not try to transform everything overnight. Start small. Look for quick wins in areas like reconciliations or collections, where automation can deliver value fast. Then reinvest that success into higher-impact areas, particularly FP&A.
Use early successes to build trust and momentum. That matters more than making a splash.
3. Data deserves a seat at the table
The classic ‘people, process, technology’ model is no longer enough. Monica makes a strong case for adding a fourth pillar: data.
Without quality data, even the best AI tools will fail. She shared an example of a generative model that confidently named five AI-powered accounting firms – only two of which actually existed.
The lesson? Trust needs to be earned, not assumed. And that starts with data governance.
4. Change meets resistance
Every transformation effort faces pushback. That might be fear of job loss, fatigue from earlier change initiatives, or a gap in digital skills.
Monica’s response is grounded and pragmatic:
- Align projects to the wider business strategy.
- Involve champions across finance, IT, and operations.
- Upskill teams, but do it in context. You do not need an army of data scientists. You need people who are curious, adaptable, and know how to work with new tools.
And perhaps her most memorable quote:
“It’s not AI that will take your job, it will be the person who knows how to use it.”
5. Progressive finance means getting closer to the business
Monica’s approach aligns with the growing push towards progressive finance. That means creating conditions where finance works with the business, not just policing spend, but enabling decisions.
It is about striking the right balance between autonomy and oversight. We should not chase perfection but build the muscle for change, step by step.