ICAEW’s conference to investigate the impact of digital technology on finance professionals took place in the most appropriate venue: cyberspace
On 15 May 2018, ICAEW’s 'From digital disruption to digital readiness' conference had an unusual location: the internet. A combination of webinars, downloads and live Q&A chats, the conference had the ambition to help members learn about and take advantage of the promise of digital technologies, while avoiding the threats they pose.
In the near future, much of the finance function will be turned on its head. As Tim Leung, a management consultant at Deloitte, explained in his presentation ‘Visualising finance transformation in a digital world’, soon the majority of transactions will be automated, as will the finance function. Therefore, it has two paths: it can either become a small centre of excellence in reporting, or an essential business partner, helping create real-time information, self-service reporting and new services. “Finance will have to have much more commercial and business acumen,” he says.
This is an extract from the Business & Management Magazine, Issue 265, June 2018.
Full article is available to Business and Management Faculty members and subscribers of Faculties Online.