FIN2404. Navigating the Technology Wave: Smart Strategies for Corporate Accounting & Finance in the Tech Tide
In this presentation, we will delve into the dynamic world of technology from the vantage point of a corporate finance & accounting team. With the advent of advanced analytics, artificial intelligence (AI), and automation technologies, the accounting field is rapidly evolving. We'll tackle the challenges and opportunities presented by these technological advances, emphasizing the importance of embracing rather than resisting this tide. We will start by demystifying the technological landscape and its impact on controllers. Following this, we will outline a framework for assessing and adopting new technologies that align with your organization’s strategic objectives, enhancing efficiency and accuracy in financial reporting. A significant portion of the discussion will focus on technology opportunities, challenges, and external/internal pressures, particularly the need for robust planning and proactive measures in an increasingly digital world. We will explore practical steps controllers can take to promote streamlining and efficiency. Automation is another key topic we'll cover, demonstrating how it can be a significant change for controllers by streamlining operations and enabling real-time data analysis. The presentation will also highlight the necessity for continuous learning and staying abreast of technological advancements, preparing controllers to not only adapt to but also to anticipate and shape future trends. Finally, we will discuss the human side of technology adoption, providing strategies for leading and managing change within finance teams. By fostering a culture of innovation and addressing resistance to change, controllers can champion technology implementations that propel their organizations forward. Attendees will leave with actionable insights and strategies to effectively navigate the digital revolution in accounting, positioning themselves as forward-thinking leaders in the field.
Learning Objectives:
- Determine a proactive approach to continuous learning and adaptation in the face of emerging technologies.
- Identify the skills needed to lead teams through technology transitions, addressing resistance, and fostering a culture of innovation.
- Distinguish how controllers can leverage automation to improve efficiency, accuracy, and real-time reporting.
- Compare the pros and cons of leveraging automation.
- Recognize how to manage risks associated with digital transformation, including cybersecurity concerns.
- Determine how to evaluate and select the right technology solutions that align with organizational goals and enhance financial processes.
