The Future of Finance in Modern Businesses
The finance department will change dramatically over the next decade, moving from a primarily number crunching role to strategic position in business and we see cloud computing accelerating this trend. So, what does the Future of Finance hold?
Already IT development and cloud computing has automated many of the day to day tasks of the traditional finance department. Whilst business software systems have been core to the finance department for a number of years we are increasingly seeing tools which, rather than simply processing data, enable us to add real business value. The advent of cloud computing and its impact on the finance department over the past 5 years in particular is difficult to ignore.
But does this automation spell the end for finance departments? Will technology eventually automate all financial activities? It is clear technology is dramatically changing the way finance departments work but is this the beginning of the end of the internal finance function?