Is the future of finance new technology or new people?
Preparing for the future finance function
As technology, globalization and demographic trends continue to disrupt organizations, whole industries and indeed the working world as a whole, the role of the finance function will increasingly be brought into question. Where once its remit was predominantly that of a reporting function that focused on balancing the books, it will become a data-driven decision-center.
Technology will play an increasingly significant role in executing many traditional finance tasks while at the same time generating greater insight. Meanwhile, finance people will spend a greater proportion of their time working with colleagues across the organization to make decisions in support of the strategy.
CFOs must make bold moves to build a finance function that has the right people, with the right skills, to complement and get the most out of new technologies. Furthermore, many will play an important role in the people strategy for the organization as a whole. Success as a CFO will depend on combining the intelligence of smart technologies with the brains, emotional intelligence and interpersonal skills of talented people.
We surveyed 769 finance leaders worldwide, between December 2015 and February 2016. The survey results were supplemented by individual interviews with 21 CFOs from leading organisations. This second report in the series will be followed by a further module.
Explore the study in more depth
To explore the findings in more detail please visit – EY.com – The DNA of the CFO