THE CHANGING ROLE OF CORPORATE FINANCE
DIGITAL TRANSFORMATION
“ Finance must balance the need for accuracy with the need to make a huge volume of data available for decision-making , which is a new muscle for many finance teams
— Craig Wilton , Senior Director , Advisory , Gartner
94
THE CHANGING ROLE OF CORPORATE FINANCE
As automation and analytics steadily take on a more mature role in the operation of corporate finance divisions , the roles of those business units , and the finance professionals working within them , is set to change dramatically .
This trend can best be described as an upstream migration . As functions like budgeting , processing and reporting begin to approach full automation , finance professionals will fulfil new roles for their partners and clients . According to Deloitte , with digital solutions compensating fro routine workloads , finance departments will have increased opportunities to proactively create value and direct strategy . These new roles will include functions like “ scenario planning , advanced forecasting , and better visualisation . Teams of business partners will come together to focus on the most complex commercial decisions , moving around the business as needed ”.
AUGUST 2020