Finance in a digital world: It’s crunch time for CFO’s!
Finance technology for CFOs in the age of digital disruptors
From cloud computing and robotics to analytics, artificial intelligence and automation, a new class of digital disruptors is transforming how business gets done. Expect these disruptors to have a big impact on the future of finance organizations. But what exactly will their impact be? What is the future of finance in a digital world?
Reporting in a digital world
Crunch time VII
As a CFO, you might think you have better things to do than spend 15 minutes reading about how reporting will evolve in the future. After all, there’s no big pressure to do anything differently, right? The answer to that question depends on the kind of reporting you’re talking about.
For internal management reporting, the business case for change is huge.
Forecasting in a digital world
Crunch time VI
There’s another way. Organizations are shifting to forecasting processes that involve people working symbiotically with data-fueled, predictive algorithms. It’s all made possible by new technologies—advanced analytics platforms, in-memory computing, and artificial intelligence (AI) tools, including machine learning. Check our forecast on a digital world in crunch time VI.
Finance 2025: our predictions
Crunch time V
Over the next seven years, new technologies will be coming to your organization with the promise of making Finance better, faster, and probably less expensive. The work we do and how we do it is up for grabs.
So far, no organization we know of has put it all together. Not in Finance. Not yet. But you can see it coming. Check our predictions for Finance in 2025 in Crunch time V.
Blockchain for Finance
Crunch time IV
Blockchain has the potential to reshape processes that are defined inside Finance, primarily because of its cost and control benefits.
Whether blockchain makes sense for your particular situation depends on a number of “fitness factors”. Crunch time IV helps you assess these, provides answers to frequently asked questions by CFOs, and addresses blockchain alternatives.
The CFOs guide to cognitive technology
Crunch time III
Cognitive technologies have been adopted in other areas of business, inspiring finance to start learning about them, experimenting with them, and figuring out how to use them. The goal, as with any finance technology initiative, is to create a more efficient, insightful, and controlled finance function, yet only 42 percent of surveyed CFO’s said their finance team is knowledgeable about emerging technologies, including cognitive.
Crunch time III: The CFO’s guide to cognitive technology provides a collection of examples based on currently available technologies we’ve seen companies begin to test and adopt, in addition to our experience working with many finance organizations that are devoting more resources—financial and human—to deploying new technologies in these early days of cognitive.
It’s important to remember that none of these technologies stands on its own. There is no Internet of Things or blockchain without cloud computing. There is no cognitive pattern matching without advanced analytics. The technologies build on one another. And what do they build into? Faster and better ways of getting work done.
CFOs talk off the record about Finance in a digital world
Crunch time II
In the follow-up report, Crunch time, too: CFOs talk off the record about finance in a digital world, 30 CFOs share their unfiltered thoughts and experiences around a broader discussion of finance and what it means to make the digital journey. Deloitte knows that one way to stay abreast of new developments is to join in focused conversations with other finance leaders, across multiple industries and geographies, so this is a good place to start.
Finance in a digital world
Crunch time I
No matter what future you see ahead for your finance organization, one thing is sure. If business leaders around you are going to compete in the digital world, they will need to process more information more efficiently, and turn that information into deeper insights faster than ever. It will likely require new technology—and a group of people who are curious and skilled in using it.
Deloitte's new point of view, Crunch Time: Finance in a Digital World, is based on extensive research with finance executives, including in-depth interviews with CFOs of global businesses.This short book, filled with practical insights and comments from finance leaders, may be the quickest way to understand what's in store for finance organizations as they hurtle toward the future.
Are you ready for the digital future?
Finance professionals always have to be one step ahead. Do you base your decisions on data- gathering or on data analytics? Digital is moving finance to be a strategic partner in all senses of the word. Sign up for the masterclass the Future of Finance program to find out more about the digital challenges of the CFOs and Finance Executives.
Views on digital transformation: A burning platform, or a burning desire?