CFO 4.0 - The Future of Finance 174. Financial Transformation Live: The New Normal in Finance- Future-Proofing your Finance Team
Apr 30, 2024
Exploring post-COVID financial transformations, rapid tech adoption in AI and cloud computing. AI integration for predictive analytics, evolving finance roles towards strategic responsibilities. Focus on developing new skills within finance teams for the future.
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COVID Accelerated Finance Transformation
- COVID accelerated the adoption of cloud and remote work, shaping the new normal in finance teams.
- Flexible work and globalization have increased, changing recruitment and operational practices.
Digitization Revolutionizes Accounts Payable
- Accounts payable has shifted from manual paper processes to digital workflows and automated invoice checking.
- Automation allows handling transactions by exception rather than manual review of every document.
Prepare for EDI and Conversational AI
- Prepare for wider adoption of EDI and API integrations for seamless invoice and purchase order exchanges.
- Explore conversational AI for purchasing to simplify and speed up procurement processes.