There’s cause for a lot of optimism in finance. By 2020, Accenture predicts productivity of Finance will increase by two to three times while organizational costs will decline by 40%. They also predict a dramatic shift in time spent on analysis, from a mere 25% today to 75% in the future.
Finance is shifting from traditional rigid and manual accounting processes to more automated, more flexible, and more agile cloud based systems. This shift is essential, because it provides the productivity benefits so that finance can focus more on reporting and analyzing financial performance. However, successfully making the shift means overcoming roadblocks across four key areas – automation, talent, risk, and technology.
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