The dynamics of the accounting and finance profession are evolving. Because many factors influence how finance functions operate, finance professionals must adapt to the demands of the profession.
Technology has a significant impact on accounting and finance. Developments within cloud computing, data analytics, artificial intelligence, and hybrid work have resulted in a growing demand for adaptable professionals who are proficient in leveraging technology.
In our newly released literature review, a series of four papers, you can access insights into recent research on data and data analytics trends in finance, the current state of the hybrid workplace, the race to digital adoption in finance, and technology in finance.
Embracing data analytics for strategic decision-making
Organisations leverage data analytics to gain insights, identify patterns, and make informed financial decisions. The way businesses use data is changing and has led to increased demand for accounting and finance professionals with data analysis skills.
In “Data and Data Analytics in the Finance Function”, we examine research and trends relating to data analytics skills for accounting and finance professionals, how businesses use data, and what has changed about the data accounting and finance personnel use. As you delve into “Data Analytics in the Finance Function”, explore perspectives from Africa, the Americas, Asia, Europe, and the Middle East.
It is vital to understand how data analytics is transforming the finance function in different regions as the demand for this expertise is rising in the finance field worldwide. The changing landscape provides opportunities to leverage your skills and enhance career prospects.
The new era of flexible working
As employees increasingly demand flexibility in their work arrangements, companies are adapting by embracing hybrid work models.
The implications of hybrid work are multifaceted and present opportunities and challenges for both organisations and professionals. How is the shift to hybrid working models impacting accounting and finance professionals in different regions? What are the hurdles they face?
The “Finance in the Hybrid Workplace” paper examines how businesses of varying sizes are affected by the hybrid work model and the implications for their employees.
With hybrid work likely here to stay, accounting and finance professionals must learn to succeed in the hybrid workplace and find new ways to communicate effectively and develop their skills.
Finance roles are evolving
Technological advancements are reshaping how financial services are delivered, consumed, and managed. Organisations worldwide face unique challenges in adopting digital technologies and management accountants play a crucial role in navigating the changing landscape.
Digital adoption represents possibilities for organisations, and it requires new skills in our increasingly digital world.
With insights on the evolving role of finance, the “Race to Digital Adoption in Finance” paper explores the implications of digital adoption for businesses worldwide and the key skills accounting and finance professionals will need.
Emerging technologies are reshaping the profession
A reliable cloud ecosystem is essential for an organisation’s long-term survival. It can facilitate the adoption of cutting-edge technologies such as big data, machine learning, and artificial intelligence. In “Technology in Finance”, we explore cloud technology and how cloud adoption and related emerging technologies are reshaping the finance function.
Though cloud adoption rates vary across regions and business sectors, it has still become important for accounting and finance professionals to understand the terminology related to emerging technologies for effective cross-departmental conversations and collaborations.
In addition to the literature review series, we will release a diverse array of thought leadership reports and resources in late 2023 and throughout 2024. These will offer in-depth updates on the transformative technologies influencing the finance function and provide valuable insights into prevailing trends and changes.