The CFO's Guide to Seamlessly Transitioning to a Hybrid Workplace and Growing Profits

World events over the last few years have significantly impacted the way most businesses transact. While the concept of a remote workplace is by no means new, our current global climate has accelerated the trend to a ‘hybrid’ workplace as a ‘new norm’. The hybrid workplace model creates a harmony between employees being able to work in a corporate office workspace and also being able to work remotely. And it doesn’t have to be one or the other – the right hybrid model allows for transition between both models as deemed necessary. In fact, a McKinsey 2021 Study identified that 90% of businesses are now considering transitioning to a hybrid workplace model, allowing their employees the choice between working from home, at the office or a combination of both.

One of the main factors that slowed or hindered the acceptance of a remote or hybrid workplace model was the fact that many organizations still found themselves using manual processes throughout their overall working model. For a lot of companies, someone was appointed to go into the office on a regular basis to pick up the physical mail and other documents or packages and further distribute them to the appropriate people – a time-intensive and costly task to say the least. Finance departments experienced some of the biggest issues and quickly discovered how their lack of implementing digital processes affected their ability to experience a productive workflow.