By: Natalie Johnson
Finance leaders often look to new software as the catalyst for transformation. However, organizations investing in the same technology can arrive at vastly different outcomes. The difference comes down to whether people, processes, and culture evolve alongside the technology. For Global Finance Executive Oliver Diehm, finance transformation starts by creating an organization that people trust, where standardized processes support technology rather than compete with it, and where teams are prepared to embrace constant change. “Trust is really the base for all of our performance.”
After more than two decades leading automotive finance teams across five continents and helping establish a global hub that brought finance, HR, and purchasing together under one operation, Diehm has seen firsthand that successful transformation depends less on software selection than on organizational readiness.
Technology Only Works When Processes Do
Finance transformation often begins with technology procurement, but Oliver Diehm believes that sequence is backward. Software should strengthen well-designed processes rather than compensate for inconsistent ones. “Choosing the software depends on your processes,” he says. “But after you choose the software, you have to ensure that your processes as well adjust similarly.”
That philosophy is particularly relevant for organizations exploring process standardization or considering how to build a global shared services center. While software can be configured around existing workflows, excessive customization often limits future improvements and makes upgrades more difficult. Instead, organizations should align their operations with established best practices built into modern platforms. It also underpins finance transformation initiatives that scale successfully. Technology creates efficiencies only when the underlying operating model is consistent across functions and geographies.
Shared Services Succeed Because of People, Not Structure
As organizations rethink operating models and expand nearshore operations, many are turning to centralized business services, a shift Oliver Diehm himself helped bring to life in Mexico, where he learned that success depends just as much on building trust across teams shaped by different cultural expectations and leadership styles.
“I think everything starts with trust,” Diehm says. “If somebody doesn’t trust his peer, his superior or his employee, then there can’t be any teamwork.” While change may be universally uncomfortable, the way leaders guide it must adapt to local cultures. Some teams expect clear direction, while others want to understand and challenge decisions before committing. “The change is for the good,” Diehm says. This is a message that leaders must communicate clearly, particularly in cultures where employees expect to be convinced rather than instructed.
For organizations focused on a people-first approach to shared services design, culture becomes an operational advantage rather than a soft leadership concept. It also shapes retention strategies for shared services talent, as employees are more likely to stay where they feel trusted, valued, and connected to the organization’s mission.
Automation Changes Leadership More Than It Changes Finance
As artificial intelligence (AI) and automation become increasingly embedded in finance, many assume software will eventually replace much of the finance function. Diehm sees a different future. “Systems in reality never run alone,” he says. Technology can automate repetitive activities, but it cannot replace judgment. Finance professionals must still determine whether changing regulations require process updates, whether unusual business activity explains unexpected results, or whether reports accurately reflect reality. “If I’m not able as a controller to understand the figures, I will not see mistakes,” Diehm says.
That shift changes what a regional chief financial officer looks for in service center design. Technical capability remains important, but analytical thinking, collaboration, and business understanding become even more valuable. In globally distributed operations like the ones Diehm has led across five continents, leadership increasingly centers on helping people interpret information rather than simply produce it.
Building Organizations That Can Keep Changing
Perhaps the greatest challenge facing finance leaders is not implementing transformation but sustaining it. Finance has traditionally evolved at a measured pace, with regulatory updates introduced well in advance and operational processes remaining relatively stable for years. That stability is disappearing. “The finance functions have been functions that are evolving but slowly,” Diehm says. “This will change.”
As industries accelerate product development and digital adoption, finance must keep pace. Organizations scaling a service center from local site to global hub will need teams that are comfortable adapting continuously rather than periodically. “Change is the new normal,” he says. “We really have to ensure that our teams and our structures are ready to change with the future because we are going to see a world where change will be at lightning speed. If we cannot follow this lightning speed, then we will be left behind.”
Finance transformation is about building organizations that can continually evolve, supported by trust, standardized processes, adaptable people, and a culture prepared for constant change. For more insights, follow Oliver Diehm on LinkedIn or visit his website.
Disclaimer: This article is intended for general informational and editorial purposes only. It does not provide financial, accounting, technology, management, human resources, organizational development, or professional advice, and it should not be relied upon as a substitute for guidance from qualified professionals. Finance transformation outcomes, shared services performance, software implementation results, automation benefits, talent strategies, and organizational change efforts can vary based on company structure, leadership, culture, systems, processes, industry, and execution. Readers should independently evaluate any finance transformation strategy, technology investment, or organizational change initiative before making decisions.
