Content thumbnail Is the Future of Finance New Technology or New People?

)(t Akl`]^mlmj]g^ÕfYf[]f]ol][`fgdg_qgjf]oh]ghd]7Hj]hYjaf_^gjl`]^mlmj]ÕfYf[]^mf[lagf Akl`]^mlmj]g^^afYf[]jgZgla[7 It’s also about how you improve your service or create For EY’s Chris Lamberton, Robotics and Process Automation new services. Global Center of Excellence Leader, successful finance “The best way to think about robots is as the ultimate functions in the future will be those that find the right balance companion to humans. Let robots do the grunt work, and between robotics and people, with each doing what they do free up people to do things they’re really good at, which is best. “Ultimately, what you want to establish is the right analyzing all the data that robots can pull together,” combination of people and robots,” he says.“Quite often it’s says Lamberton. not just a cost play.” 3. Cloud and SaaS L`]nYdm]lgl`]^afYf[] • Reduce costs, as organizations only pay for what they use ^mf[lagf • Provide greater flexibility, in terms of adopting new technologies and flexing to changes in demand • Improve disaster recovery, as back-up solutions and capacity can be accessed from anywhere, taking into account different circumstances, such as loss of power ;mjj]fleYjc]llYc]%mh Deploying — widespread adoption by organizations across the world is growing fast Although a company’s financial management system is critical 1. Security to its success, many organizations have outdated and CFOs will need to proactively manage the associated risks fragmented systems. Cloud and SaaS solutions now offer of these tools, particularly in relation to data security and opportunities to transform system functionality and drive compliance with different regulatory regimes. standardization in a faster, smarter way. Cloud-based infrastructure and cloud-based SaaS applications can: *&<]n]dghaf_l`]kcaddklgeYc]Z]klmk]g^l][`fgdg_a]k • Klj]Yedaf]gh]jYlagfk In our research, 55% of respondents said that “improving Cloud-based ERP, for example, can allow disparate teams to digital technology skills in areas such as mobility, the cloud create and access the same data, which can enable quicker and SaaS” would be a significant people and skills priority decision-making. for the future finance function. This improvement in digital technology skills is important across many industries, • Reduce costs but it is a particularly high priority in the media and Because organizations can quickly increase or decrease the entertainment sector, where companies need a scalable number of applications they use, they only pay for what they infrastructure to manage and monetize all the digital need, rather than what they thought they would need six content they produce. months ago. Maintenance costs can also be cut because systems upgrades can happen automatically. Cloud and SaaS solutions may also avoid the need for costly and complex rationalizations of on-premise ERP. ;`Yjl+2Building cloud and SaaS skills • Hjgna\]_j]Yl]j^d]paZadalq Percentage of respondents by sector who believe that improving digital SaaS can help organizations keep pace with rapid technology skills in areas such as mobility, cloud and SaaS will be a significant developments in technology, such as new analytics tools, priority over the next five years and help the function respond to fluctuations in demand. Media and entertainment 67% While these tools can provide significant opportunities to Automotive and transportation 65% improve performance, they will need to be weighed against

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