CFO 4.0 - The Future of Finance 233. Finance Transformation Live - Future Proofing your Finance Software Architecture
Jul 1, 2025
Discover the four pillars that ensure finance software architecture stands the test of time: data, APIs, expandability, and maintenance. Learn how multi-dimensional data structures enhance reporting and AI capabilities. Explore the pitfalls to avoid, such as over-customization and inadequate data design. Uncover the importance of layered tech stacks that support various financial functions. Plus, hear strategies for fostering continuous improvement and staying adaptable to ever-changing business needs!
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Four Pillars Of Future-Proof Finance
- A future-proof finance architecture rests on four pillars: data, APIs, expandability, and maintenance.
- Hannah Munro frames these as the foundational components for resilient finance systems.
Design Multidimensional Finance Data
- Make your finance data multidimensional so you can analyse by customer, product, project and nominal layers.
- Use structured fields (not free text) and add custom fields where needed to retain consistent, reportable data.
Enforce Data Definitions And Validations
- Establish data dictionaries and standard definitions (customer, invoice, department) to ensure consistency across systems.
- Avoid free-text fields for critical reporting data and prefer validated structured fields instead.