# Make way for the rise of the Finance Super Apps – Consolidation of Financial Digitisation Tools & Platforms Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2023-01-04 Category: TECHNOLOGY Category URL: https://financedigest.com/category/technology Meta Title: Why CFOs will be the heroes of 2023 Meta Description: Join Guy Sear and Maise Richardson at Payhawk in exploring the benefits of super apps and process mining for businesses in the UK. Stay ahead of the curve with URL: https://financedigest.com/make-way-for-the-rise-of-the-finance-super-apps-consolidation-of-financial-digitisation-tools-platformshtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/istock-656500368-1736814636274-compressed.jpg) ![](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/18-1736814636248-compressed.jpg) Guy Sear, Country lead for UK at Payhawk **Guy Sear, Country lead for UK** **at Payhawk** “Companies that were once pioneers in digital transformation and early tech adoption are now looking towards better-connected solutions, and even super apps. Super apps, described by [Gartner as “like a Swiss Army knife](https://www.gartner.co.uk/en/articles/what-is-a-superapp), with many tools that serve a purpose,” mean that teams don’t have to jump from tool to tool to complete and manage business needs. Instead, they can rely on the multiple tools within the ‘super app’ to [deliver one connected experience](https://www.financedigest.com/how-partnerships-fuel-fintech-innovation-and-help-banks-deliver-a-better-customer-experience.html "How Partnerships Fuel Fintech Innovation and Help Banks Deliver a Better Customer Experience"). What are the pros of super apps? Increased efficiency and centralised governance and control, plus only one place to worry about [security and data](https://www.financedigest.com/the-financial-sector-must-act-to-tackle-internal-data-security.html "THE FINANCIAL SECTOR MUST ACT TO TACKLE INTERNAL DATA SECURITY"). The cons? Again, it’s that there’s only one place to worry about [security and data](https://www.financedigest.com/assurance-v-security-reassessing-responsibility-for-data-assurance.html "Assurance v Security: Reassessing Responsibility for Data Assurance"). And the potential [risk for a large data](https://www.financedigest.com/how-data-visualisation-is-helping-the-insurance-sector-understand-environmental-risks.html "How data visualisation is helping the insurance sector understand environmental risks") store to be abused.” **CFOs that double up as** **process miners will be the heroes of 2023, as [digital transformation](https://www.financedigest.com/digital-transformation-for-the-world-of-finance-the-rise-in-collaboration-tools-and-saas-applications.html "Digital transformation for the world of finance: The rise in collaboration tools and SaaS applications ") spend is redirected towards operational efficiency** **Guy Sear, Country lead for UK at** **Payhawk** “‘Process mining’ will become widely understood by companies of all shapes and sizes, with [firms understanding a need to pinpoint areas of inefficiency within their business](https://www.financedigest.com/pizza-firm-dp-eurasia-delivers-profit-rise-evaluating-russian-business.html "Pizza firm DP Eurasia delivers profit rise, evaluating Russian business"), whether done manually or through more costly outsourced SaaS platforms. As companies shift towards a strategy that allows them to batten down the hatches, they will move away from the allure of the metaverse, and towards a prioritisation of [cost control](https://www.financedigest.com/dutch-telecom-kpn-locks-in-2023-targets-helped-by-cost-controls.html "Dutch telecom KPN locks in 2023 targets helped by cost controls") – managed by the CFO. The sweet spot for [technological advancement](https://www.financedigest.com/how-an-advanced-manufacturing-technology-can-make-your-business-more-3-dimensional.html "How an advanced manufacturing technology can make your business more 3-dimensional") will be automation, efficiency and headcount reduction, with process mining underpinning the roll out according to commercial priorities. [Finance and fintech leaders will have more of a role to play than ever before in how to drive efficient growth for businesses](https://www.financedigest.com/2016-the-year-of-technology-financing-the-year-of-business-growth.html "2016 – THE YEAR OF TECHNOLOGY FINANCING, THE YEAR OF BUSINESS GROWTH"), meaning that a fundamental understanding of where their bucket is leaking, as well as a digitally ambitious leader, will become necessary.” **We’ll see the birth of the CMFO — a new, and necessary, C Suite mainstay** ![](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/17-1736814636240-compressed.jpg) Maise Richardson, Marketing Director UK, Payhawk **Maise Richardson, Marketing Director UK, Payhawk** [Marketing departments are moving from ‘cost centre’ to ‘profit centre’, which requires closer alignment between marketing and finance](https://www.financedigest.com/global-dealmaking-plunges-as-financing-market-hits-rock-bottom.html "Global dealmaking plunges as financing market hits rock bottom"). Better alignment requires better [real time](https://www.financedigest.com/its-time-for-real-time-accountancy.html "It’s time for real time accountancy ") visibility, and leveraging tools and technology in order to facilitate that i.e. spend [management solutions](https://www.financedigest.com/exact-launches-practice-management-solution-to-help-transform-accountants-into-trusted-business-advisors.html "Exact launches Practice Management solution to help transform accountants into trusted business advisors"). We have seen a melding of [sales and marketing](https://www.financedigest.com/sales-of-electric-bicycle-motors-market-to-record-exponential-growth-during-2017-2025.html "Sales of Electric Bicycle Motors Market to Record Exponential Growth During 2017 – 2025") roles in the past i.e. the invention of the CRO role, so does this lean towards more critical grounding in [financial analysis for marketing](https://www.financedigest.com/the-feds-rate-hike-that-wasnt-and-brexit-a-snapshot-of-global-financial-markets.html "The Fed’s rate hike that wasn’t and Brexit: a snapshot of global financial markets") teams open the door for a CMFO role? **Dystopian B2B [Tech Sales](https://www.financedigest.com/tech-ceos-wax-poetic-on-ai-big-adds-to-sales-will-take-time.html "Tech CEOs wax poetic on AI, big adds to sales will take time") Requires Technology Focused Cultural Shift** **Maise Richardson, Marketing Director** **UK, Payhawk** Could Netflix’s black mirror episode around social [media](https://www.financedigest.com/3-ways-financial-institutionscan-leverage-live-engagement-on-social-media.html "3 ways financial institutions can leverage Live Engagement on social media") ratings impacting social status happen to businesses? Bear with me… in a world where ‘intent [data’ and ‘online footprints’ are increasingly utilised to determine how sales ready businesses](https://www.financedigest.com/how-can-financial-institutions-make-the-most-of-data-for-their-business.html "HOW CAN FINANCIAL INSTITUTIONS MAKE THE MOST OF DATA FOR THEIR BUSINESS?  ") are, could we get to a point where only digitally adept businesses are targeted by SaaS and technology companies, therefore facilitating a cycle of less technologically advanced remaining the the doldrums? And if that does happen, what’s the answer? In my opinion, and particularly in smaller businesses, there [needs to be an element of top](https://www.financedigest.com/top-5-seo-services-you-need-to-succeed-in-2022.html "Top 5 SEO Services You Need To Succeed In 2022") down technological advancement. Gone are the days where C-suite are focused on business-as-usual, they need to be at the helm driving [digital transformation](https://www.financedigest.com/5-key-takeaways-from-the-finance-sectors-digital-transformation-revolution.html "5 Key Takeaways From the Finance Sector’s Digital Transformation Revolution") across their business, regardless of size. Technology is no longer a choice but a necessity, and if you’re not on board, you’re only going to be [left behind](https://www.financedigest.com/click-and-collect-or-get-left-behind.html "Click and Collect or get left behind") one way or another. Business owners, CEOs, CFOs, should be aware not only where pain points are within their business, but also how easily the majority of these pain points could be alleviated with a technology first approach to problem solving, and they [need to be the ones driving](https://www.financedigest.com/reasons-you-need-a-car-insurance-when-driving-in-thailand.html "Reasons You Need a Car Insurance When Driving in Thailand") these changes. --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---