How the Finance Function is Changing

The shape and structure of the finance function is changing. Mundane and repetitive tasks are being automated, causing accountants to steer away from clerical work. Instead, through stakeholder interaction, accountants can rather influence how the organisation creates and maintains value. Finance professionals are operating as business partners, embedding themselves in different areas of the organisation, engaging with those outside of finance more frequently and seeking to influence decisions and actions more directly.

Technology is creating a shift in the roles and responsibilities of finance professionals. Machines and automation can process and collect data much more effectively and efficiently. Therefore, the focus of the finance function must be to ensure data integrity and the creative use thereof in other words, provide insights, generate revenue, and create value.