With Finance’s work and workforce becoming each day more influenced by and dependent on new technologies, our Digital Finance Strategy methodology serves as guidance for organizations to build a solid foundation for their digital journey. Finance transformation strategy helps CFOs identify the weaknesses in their finance organisation to prioritise the required change initiatives, and supports them in defining an operating model to support the business and manage key finance activities more efficiently. For a free consultation, click below or call us today at 303.986.3000. In the finance function, that means working now to get the right people and technology in place to take advantage of the inevitable disruption ahead. It’s imperative that Accounting is able to extend to new ERPs and other financial systems, or adapt to new foreign acquisitions as smoothly and quickly as possible. How would the work of finance get done and who would do it? All rights reserved. As these individuals blaze a trail for AI within their businesses, finance leaders can show how the technology will liberate people to focus on more creative, strategic and meaningful work, and spend less time on repetitive and tedious manual tasks.”. Digital transformation is revolutionizing every industry. It is the addition of more cognitive capabilities in technologies that will allow companies to reconfigure their human capital requirements. Yet again, there was no collapse in employment when desktops replaced them — as new employment categories emerged. Similarly in the 1980s, secretaries were one of the largest categories of employees with entire rooms of typewriters and filing cabinets. The methodology for generating our predictions is straightforward. In the past, one of the main problems with AI and automation was that many of the systems were only available for the largest companies. Social login not available on Microsoft Edge browser at this time. For instance, in 1910 manufacturing, transport, retail and domestic services were the big employers in developed economies. Finance 2025: Digital transformation in finance has been saved, Finance 2025: Digital transformation in finance has been removed, An Article Titled Finance 2025: Digital transformation in finance already exists in Saved items. “Digital transformation nearly always requires many internal stakeholders to do things in a different way,” says Martin Henley, SVP, technology services sector for Globality.. “That likely includes changing or breaking processes that have been in place and have worked well at some point, changing how stakeholders interact with their clients, even changing their roles. © 2020 Arena Holdings. Now is the time to step … How must Africa ready itself for 2.5-billion people, asks Phuthuma Nhleko? Register (it’s quick and free) or sign in now. shows that this is beginning to change through the use of third-party service providers and the cloud, which offer the same benefits the biggest players enjoy. With that in mind, below are eight predictions for Finance in 2025, based on what finance leaders are doing and the technology available today. are taking centre stage in the rollout of digital transformation projects, need to convince company employees that digital transformation is a career opportunity for employees to upgrade their expertise to suit the marketplace of the future. On 21 November 2018, the College adopted the Digital Strategy of the European Commission. To set a digital transformation on the right course a company must place it at the core of its agenda, and understand the magnitude of that undertaking. The JSE all share, however, fell 1.25% and the top 40 1.43%, The WPP co-founder on his acrimonious exit from the company he built — and whether biggest is always best, Data currently suggests ‘no red flags’ around the variant being more fatal than the original variant, Spokesperson Pule Mabe says the party is still developing guidelines for removing officials accused of graft, The shares have surged about 70% since mid-November, when its debut in the S&P 500 was announced, and have soared 700% so far in 2020, The court decision has underscored that no collective agreement with fiscal implications can be enforced if not backed by the Treasury, The immediate potential threat to companies’ cash flow cycles lies in further lockdowns when supply chains are frozen again, While lenders remain barred from boosting their dividends, they performed well in a second round of 2020 stress tests that assessed how the industry has navigated the Covid-19 tumult, Last-minute changes announced a day before the team enters bio-bubble, Durban’s latest venue has got it all, including a private dining space and rooftop bar. Finance professionals will not lose their jobs, but they will have an opportunity to learn new things and become advisers and strategic leaders in their companies. (2015), discussing their digital transformation framework, call for further research on digital transformation strategies, considering different industries as … That’s not likely to happen without a clear vision and strategy for Finance in a digital world. Digital – the buzzword used or over-used for quite some time now, brings in a huge impact on the financial & banking industry. Learn how this new reality is coming together and what it will mean for you and your industry. By using accounting software and cloud computing, the modern finance chief can spend their time not simply keeping files, books and tax returns in order, but gathering immense amounts of data and making computations more quickly and easily. 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