Investing in the firm’s future is non-negotiable for CFOs. Thriving in this new world, we experienced substantial industry changes that gave us a sneak peek of what the future of finance looks like- and they’re here to stay.
Now that we have an initial understanding of what finance transformation is, we go to its application: how to start the process, what drives the initiative, the obstacles, and the best practices in finance transformation.
In this era of innovation, establishing a finance transformation roadmap reshapes a firm into a proactive organization with a more in-depth understanding of the finance function, and fully conforms it with the company’s long-term plans.
Dubbed by the UK Financial Conduct Authority (FCA) as a platform to potentially transform financial services, the call to shift from open banking to open finance is exponentially growing and certainly getting more attention in the industry.
While the dust hasn’t completely settled, we know for a fact that recovery started for most countries. Finance executives are looking at strategic investments in manpower that would get them through the remainder of the crisis—which includes attracting new talents and retaining the best employees they have onboard.