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Three Trends That Should Be Shaping Your Plans

 

 


Accenture and CCH Tagetik have been working together for years to provide our mutual clients with the best solutions to manage their businesses effectively by taking best advantage of technology. In recent years, we noticed the CFO role has evolved to take on an ever-increasing strategic voice in business, and we like to think our technology, combined with deep industry and functional expertise, has facilitated this positive change.


 

CCH Tagetik in Touch is an important opportunity for CFOs and finance professionals to consult with peers and product experts, to learn about the possibilities offered by new technology and, above all, to observe how others have used technology to improve the finance role and services within their companies.

 

Accenture will participate again in CCH Tagetik in Touch and we expect to meet with CCH Tagetik clients from around the world. In advance of the conference, we thought it would be helpful to use this post to highlight 3 trends identified through Accenture research that will have a significant impact on the CFO role in coming years.


 

The digital revolution


The increasing use of digital technologies is rapidly transforming the enterprise, often creating new business models and processes to leverage new opportunities. However, a recent Accenture research revealed that only 6% of the 180 surveyed executives believe their companies have been significantly impacted in terms of performance efficiency and growth through the adoption of digital technologies. CFOs and their teams must assume a key role in managing the digital revolution within their organizations as part of their evolution from “budget managers” to value-creating business partners. By embracing digital technologies, finance can:


          • Influence company growth and profitability optimization strategies 
          • Assess and manage risks due to the increasing unpredictability of global markets and the related complexities 
          • Take advantage of new technologies (such as cognitive computing, in-memory computing, software-as-a- service) for more efficient and agile services or for the development of new services or products

 

 How the CFO Roles is evolving: CCH Tagetik Blog

 

 


How the CFO Roles is evolving: CCH Tagetik Blog 

 

 

 

New collaborative models and talent requirements


The adoption of new open collaboration models, coupled with overall changes in organizational structures, require finance teams to redesign their capabilities, cultivate new skills, and recruit different types of talent. According to Accenture research, almost 85% of CFOs surveyed are concerned their teams do not have the skills in areas such as technology and business strategy required to meet near-term business needs. The management of new technologies - coupled with the new business processes, audiences, and opportunities that come with them - require analytic skills and detailed business knowledge, along with communication, presentation, and collaboration skills.



 

Leveraging technology for decision support throughout the organization


The authors of Accenture’s Technology Vision 2017 write that artificial intelligence will not replace human labour; rather, it will strengthen the potential of employees by helping them make better, faster decisions and respond to situations with more information and insight. Finance can harness technology to ensure that business stakeholders throughout the organization are served with fast, relevant, and dynamic analytics and dashboards that are self-service, available whenever needed, and require no manual intervention.


 


Indeed, we are at the brink of very exciting times. We look forward to meeting and talking with you in beautiful Lucca; as always, we know we’ll leave with valuable new insights from those conversations.


See you at CCH Tagetik in Touch!


 

Have you ever attended a Tagetik In Touch Conference? Check out the highlights from Tagetik In Touch 2015!

 

 

 

Sign up for CCH Tagetik In Touch Conference

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