Can finance be revolutionary?
New research from the American Institute of CPAs (AICPA) and Oracle suggests that it can—and should.
The report, Agile Finance Revealed: The New Operating Model for Modern Finance, found that finance can drive strategy and deliver guidance to the business—if the finance organization is agile.
In an agile finance organization, end-to-end business processes are touchless; predictive powers are enhanced by machine learning and data science; and the finance team is focused on developing new skill sets such as data analysis, visualization and business partnering.
Unfortunately, only about 30 percent of the finance leaders surveyed felt that their own teams were operationally agile.
In an upcoming, two-part webcast series, AICPA and Oracle will unveil the new operating model for modern finance, designed to enable CFOs and their finance teams to support digital business models and new ways of working.
In Part I of the series, we will share the key traits of agile finance organizations. We will look at how agile teams are achieving automation of back office processes using cloud-based ERP and EPM solutions as well as digital accelerators such as robotics process automation, machine learning, and artificial intelligence to achieve best-in-class measures of operational efficiency. Speakers for this webcast include:
Attendance at this webcast qualifies as one Certified Public Accountant (CPA) credit, one Continuing Professional Development (CPD) credit, and one Certified Management Accountant (CMA) credit.
Next month, in Part II, we will dive deeper into the attributes of the new operating model that enable CFOs and their teams to drive better outcomes for the business. With better information to predict the future, finance departments are able to harness cloud and digital technologies to improve the efficiency and responsiveness of their management reporting, decision support, and business partnering activities.