The days of Finance merely acting as a cost-saving function are well behind us. Although its fundamental roles of providing insight, managing risk and ensuring efficiency are still at its core, the escalation of global markets, advances in technology and changes to the investment environment have transformed Finance into an influential, strategic partner within every business.
Over the next couple of years, finance leaders must future-proof their teams by being open to critically assessing three key factors: people, processes and technology, in order to maintain a competitive, valued Finance function going forwards.
Technological enablers such as cloud computing, robotics, and analytics will continue to enable the finance function to make business-critical decisions, while re-engineering and redeploying processes will afford Finance leaders the oversight to understand where changes need to be made to any operating model. Developing and up-skilling a team to successfully embrace these extensive opportunities and then relay these findings to the business is already essential and should be underway as soon as possible.
As we head towards 2020, next-level Finance Transformation will take on board the SSC transformation journey and compliance with ever-changing regulations, whilst also forging ahead into newer areas, such as business intelligence, cognitive, and centres of excellence. To find out how The Consultancy Group can help the evolution of your Finance function, contact us today.