Post by account_disabled on Feb 13, 2024 6:00:24 GMT
The management and this is true. But how and in what way is the financial function going to be affected by this revolution Firstly the substantive change that is taking place in the role of the financial function is notable. The adoption of todays existing technology already allows the financial director to have relevant information from any device in real time and furthermore in a predictive manner. Financial management now leads the strategy anticipates predicts and begins to assume leadership in decisionmaking In short it stops being support and becomes an active part of the strategic definition of the business.
Secondly the change in the composition of the people who make up the function should be highlighted. of the function will cause a drastic reduction in human intervention in transactional processes which will also undoubtedly affect the Dominican Republic Email List composition of the financial function. On the other hand the current roles and functions will not be adequate to support the new function with professionals with different qualifications becoming increasingly relevant such as the socalled data scientists mathematicians engineers physicists which will represent a high percentage in the new function. Thirdly the radical change of the operating model organization processes and systems stands out.
The new business needs demand agility flexibility speed and reliability in the operating models of the financial function. This situation urges management to lead and execute digital transformation projects that resolve these business demands. For this there are many variants see for example the new generation of ERP systems based on inmemory computing standardization of data models simplification industrialization and robotization of processes reliability of information cohabitation and connection with new analytics machine learning or artificial intelligence solutions. Fourthly it is worth highlighting the functions related to risk management security business continuity and internal control with cybersecurity and good corporate governance becoming especially relevant in recent times which require the management of the functions.
Secondly the change in the composition of the people who make up the function should be highlighted. of the function will cause a drastic reduction in human intervention in transactional processes which will also undoubtedly affect the Dominican Republic Email List composition of the financial function. On the other hand the current roles and functions will not be adequate to support the new function with professionals with different qualifications becoming increasingly relevant such as the socalled data scientists mathematicians engineers physicists which will represent a high percentage in the new function. Thirdly the radical change of the operating model organization processes and systems stands out.
The new business needs demand agility flexibility speed and reliability in the operating models of the financial function. This situation urges management to lead and execute digital transformation projects that resolve these business demands. For this there are many variants see for example the new generation of ERP systems based on inmemory computing standardization of data models simplification industrialization and robotization of processes reliability of information cohabitation and connection with new analytics machine learning or artificial intelligence solutions. Fourthly it is worth highlighting the functions related to risk management security business continuity and internal control with cybersecurity and good corporate governance becoming especially relevant in recent times which require the management of the functions.