Based on research of leading research firms and in conversations with our clients we see three challenges for the Finance Function post COVID-19:
- Finance needs to lead the business with proper data driven insights regarding the competitive position
- Technology needs to ramp-up to deliver on modernization and transforming the business
- Finance professionals need to understand the power of new technologies and how to get them successfully used by their business stakeholders
- Technology skills
- Process management skills
- Cooperation skills
- Insight into the capabilities of (cloud-based) financial solutions using Robotic Process Automation, Artificial Intelligence and Machine Learning, without the dependence of IT
- Knowledge how to get new technology up-and-running effectively
- Understand data in terms of where to find the right data and how to prioritize the right data
- More insight is required into cloud application management such as vendor management, service-level agreements, role-based security administration and ongoing support and how to implement them
- Support users to use the new technologies and provide for the change management to ensure optimal utilization of modernized financial systems
- Enable analytical skills to use data to support business to take financially sound decisions
- Able to work together closely with IT, suppliers and the business and understand the needs and limitations of these stakeholders
- Support business stakeholders to utilize the modern financial resources better
- Guide business stakeholders understand the financial implications of business decisions, including advanced modelling
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