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The seven technologies transforming finance work

Disruptive technologies are creating opportunities for accountants to use their skills in faster and more efficient ways. Tim Leung, Management Consultant at Deloitte, outlines the key technologies which the big four firm believes are transforming finance.

A model of computing that is accessed over the internet, it is based on buying in services for hosting content or software, for example, rather than having physical assets, such as computer servers. It maximises efficiency by enabling users to share resources regardless of location. There are many distinct models of cloud computing.

Advanced analytics build on the traditional capture, storage and processing of data, by being able to deal with vast quantities of data and in a more sophisticated way. This data can be from new sources and can be combined with existing data to give fresh insights. Analytical tools and techniques can be applied to this data to identify correlations, outliers and exceptions, as well as build predictive models.