9 Trends Shaping the Future of the Finance Profession

9 Trends Shaping the Future of the Finance Profession

Tomorrow’s finance teams will look different from today’s, and now is the time to start making that transition. Those entering the finance profession today can look forward to a career that is more deeply engaged with, and contributes more value to, the business they support. Those who are already well into their careers are finding new challenges in making the transition, but they are excited to face those challenges and turn them into new opportunities for their own growth.

 

 


Technology is Key

Underlying the evolving mandate for finance, as well as the higher expectations that other management has for their finance colleagues, are changes taking place in the global business environment. Information of all types, structured and unstructured, is being generated from more sources than could be imagined only a short while ago, and a company’s success will depend increasingly on its ability to capture that data, analyze it, and make immediate decisions under rapidly changing conditions.

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The future looks bright for finance professionals, but further developing their effective use of technology will underlie their success to a great degree.  The digital economy is changing the role of finance, and finance is changing how SMEs work. By translating live data into informed, in-the-moment decisions and forecasts, finance leaders are helping their companies take advantage of new opportunities while improving margins and achieving greater control over the bottom line.


 The Evolving Landscape

Finance teams will need to seek out the kinds of sophisticated information tools that can best support them in meeting the new demands they are taking on.  CFO Research and SAP have identified the following 9 trends that will shape the future of the finance profession:

  1. Today’s finance professionals find their work more engaging and influential than they had anticipated.

  2. Finance professionals don’t see themselves standing still—they expect to grow professionally and extend their reach into even more parts of their companies.

  3. Finance is becoming the central touchpoint for many different aspects of their enterprises.

  4. Finance teams must adapt to a business environment in which decisions are more complex, yet still need to be made faster than ever.

  5. Finance professionals are eager to be counted on for forward-looking analysis and business insight.

  6. Finance professionals are looking for ways to gain a deeper understanding of more parts of the business.

  7. Better use of sophisticated technology lies at the heart of finance’s efforts to drive performance improvement.

  8. Finance professionals are grasping digitalization of information flows as the foundation for their successful delivery of advanced analytics.

  9. Digitalization and automation more often are seen as opportunities to provide additional value, rather than as disruptive threats to finance jobs.

To learn more about these trends and ways to prepare for them, we invite you to download the report by CFO Research and SAP below:

9 Trends Shaping the Future of the Finance Profession- And 5 Actions Finance Professionals Can Take to be Ready  

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