A FEL’s Post

8 key trends for the CFO as they look to Digitally transform big investment in tech required / balance with avoiding technical debt: 1) More automation of transactional processes replacing manual work - frictionless finance Max Luff 2) Double down on better insights need to uplift /Acquire better analytical skills in the workforce underpinned by data. 3) Finance cycle moving to real time insights v periodic reporting or rev / expense / cashflow. 4) Focus on self service - with new digital tools easy to pull your own reports. 5) Finance op model automate / onshore / offshore / how use tech big changes required. Wilson Ma, MBA, CPA, PMP, SSBB, CEP 6) ERP monolithic will be challenged by microservices all focused on better insights. 7) Data - need to provide better quality data / faster/ data governance is key Peter Lammer 8) Workforce - this will require a big shift / new skills /w/ ability to tell the story and new way of working - big capability uplift / retraining required. Jonathan Stewart 📌 Original, “free range” posts - No GPT was harmed in making this. ♻  Recycle this, repost to share with your network. #transformation #change #futureofwork #hongkongbusiness

Upskilling finance professionals is crucial in the age of automation to bridge the talent gap and enhance financial operations. As automation technology advances, finance teams must adapt to tools like automated bank reconciliation software and finance reporting automation. According to recent studies, 73% of finance leaders recognize the importance of upskilling their teams to fully leverage finance automation technology. Effective training programs and continuous improvement practices ensure professionals are equipped to handle new technologies, improve financial accuracy, and maintain operational efficiency. Upskilled finance teams can better utilize reconciliation automation tools, leading to more reliable financial management and strategic decision-making. #upskilling #finance #automation #technology #talent #kosh #ai

C-Suites in FinTech and financial services - nobody wants AI. Nobody wants an ERP system either. Or Cloud. Or any other bit of shiny new tech. We all want the business benefits that new tech can enable. In a commercial business, there are only 3 reasons to do anything: 1. It reduces costs 2. It increases revenues 3. It mitigates risk If it doesn’t contribute to at least one of those, why would you do it? Other reasons can apply in charities and public sector, but I focus on commercial businesses. If you’re chasing realisable benefits, not a just a tech implementation, then you need a Programme Director who will deliver the People and Process elements, as well as the tech delivery. I can help you with that. 💥 My name is Paul. 🔺Supporting you to achieve better Transformation & Change business outcomes. That means focussing on People and Processes, not just the tech delivery. I lead teams of Programme and Project Managers, Business Analysts and PMO. If you need this, please get in touch. Liked this post? Want to see more? Ring the 🔔 on my Profile 🔝 Connect with me #programmemanagement #digitaltransformation #leadership #fintech #financialservices

The finance industry in 2024 is undergoing significant transformations due to a variety of factors including technology, regulatory changes, and shifts in the workforce. Here's a succinct overview of the key changes: Technological Advancements: The industry is experiencing technological turbulence, with developments like generative AI, cloud transitions, increased cyber risks, and the trend of embedded finance demanding agility and innovative strategies from financial services leaders. Accounting and Finance Transformation: Accounting and finance professionals are at the forefront of navigating these changes, leveraging new technologies such as AI and quantum computing to enhance efficiency and agility. Their role is critical in adapting to market, competitive, and regulatory realities. Workforce Dynamics: A talent crunch is being felt as fewer graduates enter accounting, and seasoned professionals move to other sectors. Firms are responding with competitive salaries, flexible work arrangements, and an increased reliance on contract workers for specialized skills. Regulatory Environment: Financial services firms face a complex and expanding regulatory landscape, with new regulations around privacy, cybersecurity, AI, and ESG reporting. Meeting these demands requires robust internal controls and clear reporting. Mergers and Acquisitions (M&A): M&A activity is poised to be active, offering growth opportunities especially for mid-sized organizations. CFOs play a pivotal role in this process, leveraging data analytics for strategic decision-making. Digitalization and AI Automation: The shift towards digitalization and AI automation is transforming manual processes into automated, data-driven workflows, significantly improving operational efficiency and customer satisfaction. Fintech Innovation: Fintech trends include the adoption of AI for operational efficiencies, the growth of sustainable financing, the use of voice-enabled services and IoT for personalized customer services, and advancements in quantum computing for better market predictability. #finance #fundmanagement #modi #indianeconomy #indianmarket #management

#wanttosee what #Finance transformation and #business #transformation we are talking since 6 months.. here you go.. https://adrithfintech.tech

I know people who know people! Over the past couple of years #financetransformation and #erptransformation have been a few of the key buzz words in the #change and #transformation markets. Lots of chatter about bringing in new tech, leveraging #artificialintelligence #machinelearning #rpa etc to create better, more efficient, more automated finance functions. And this can be true... But wait..... What about the #data and what about the #changemanagement ? I see and speak to so many companies that want to implement new technologies, or have started to implement new tech, or more concerningly, have already implemented new tech but are now suffering due to a lack of focus and investment in Data and Change Management, amongst other areas too. If your business is thinking about this type of project, or you're in the middle of a programme of work & all of a sudden you're finding the SI or software vendor is quoting whats "out of scope" in the SoW, or, you're project is behind time, over budget, and maybe wont deliver the utopia you had hoped for, you need to pause and take advice as to what options are available to you. Luckily, I know people! In fact, I know people who can help and advise you, people that are seasoned professionals in this space, and people who will give you some of their time free of charge to discuss this type of project with you. Private message me for more details

📈 The role of financial analysts is evolving dramatically due to outsourcing! 🌍From cost reduction and focusing on strategic tasks to leveraging #AI and advanced #analytics, outsourcing is reshaping the industry. With a global talent pool and expanding skill sets, analysts are now more strategic and #tech-savvy. Challenges like quality control and risk management are being met with innovative solutions, while hybrid models and predictive analytics are setting the stage for the future. 💼At Market Quotient, we’re at the forefront, offering specialized expertise and global reach to drive industry excellence. 🚀 #FinancialAnalysis #Outsourcing #FutureOfFinance #KPO

Discover how OneReporting - SLIK is transforming financial reporting and compliance for institutions. Swipe through to learn about the benefits and features that make SLIK the preferred choice in the financial sector. Reach out and contact us to discover the power of NawaData’s OneReporting - SLIK. For more information about NawaData, please check out https://nawadata.com/ #FinancialReporting #SLIK #OneReporting #Compliance #Automation #FinancialInnovation #MakeITSimple #NawaData

The Financial BPO sector is not just keeping pace but leading the charge 📶 . . Why should you care? Because the future of financial services is all about agility, technology, and strategic partnerships. Here’s what’s on the horizon: 🔺 By 2025, the AI market in finance is expected to reach $22.6 billion, revolutionizing operations. 🌱 75% of financial executives agree that sustainability efforts are crucial for future success. Green finance is gaining traction, aligning with sustainable practices to boost profits and save the planet. 🌍💚 🤝 60% of businesses are now seeking strategic advisory services from their BPO partners, beyond just number-crunching. 🌐 With remote work becoming the norm, 70% of companies are leveraging a global talent pool to ensure the best minds are working on their financial needs, regardless of geography. 📈 Companies utilizing big data and analytics are 23 times more likely to acquire customers, 6 times more likely to retain customers, and 19 times more likely to be profitable. Let's embrace the future together ☝ #FinancialBPO #Innovation #FutureOfFinance #AI #Sustainability #GlobalTalent #DataDriven #aGResources

📈 **Unlocking Operational Efficiency for Financial Firms with MOOPS Tech!** 🌐💰 In the dynamic world of finance, operational efficiency is not just a goal; it's a necessity, especially for asset managers and financial controllers. At MOOPS Tech, we recognize the pivotal role that efficient operations play in driving growth. Today, let's delve into how we empower financial firms to not only reduce overhead operational costs but also optimize resources for enhanced overall efficiency. Key Challenges Faced by Asset Managers and Financial Controllers in 2024: 1. Resource Constraints: Limited manpower can hinder the seamless execution of operations. 2. Increasing Overheads: Rising operational costs squeeze profit margins and limit funds available for growth initiatives. 3. Complex Workflows: Cumbersome processes can impede the speed and accuracy of critical tasks. 4. Data Management: Managing vast volumes of financial data can be time-consuming and prone to errors. 5. Competition for Talent: Attracting and retaining skilled professionals in a competitive market is an ongoing challenge. How MOOPS Tech Steps In: 📊 Resource Optimization: Our solutions are crafted to make the most of available resources, leveraging automation and smart workflows to streamline operations. 💸 Cost Reduction Strategies: Identify and eliminate unnecessary costs, ensuring more funds are available for strategic growth initiatives. 🔄 Workflow Optimization: Simplify complex workflows, reducing turnaround time and minimizing the risk of errors. 📈 Data Intelligence: Harness the power of data with our cutting-edge analytics tools, facilitating better decision-making and resource allocation. 🌐 Scalable Solutions: Grow your operations seamlessly with our scalable solutions that evolve with your business needs. 🚀 By partnering with MOOPS Tech, asset managers and financial controllers can not only meet but exceed their operational efficiency goals. We empower you to do more with less, leaving ample funds for crucial growth initiatives and strategic investments. 🔗 #OperationalEfficiency #FinancialManagement #resourceoptimization #FinanceGrowth #MOOPSTech #FinanceRevolution #Innovation