1 (425) 943-7775 help@pivotpayables.com

The Blog

Sharing thoughts, ideas, perspectives, and the occasional opinion.

 

 

CFO? 5 Trends to Watch!

How analytics, robotics, next-gen cloud computing, cybersecurity, and evolving budget tools will shape tomorrow’s organizations.

CFOs are tasked with ensuring that the accounting basics, such as processing payments and reconciling accounts, are handled without a hitch. But simply having the bare minimum in terms of financial infrastructure won’t get an organization, or a career, very far.

Modern senior finance professionals need to think strategically about how automation and streamlined processes will impact the finance team — and ultimately the business — five years down the road. To be tactical partners with business leaders and the C-suite, chief finance officers need to be scanning ahead to help the company thrive and meet continuously evolving demands.

The job of the CFO is evolving beyond the accounting function, and modern CFOs need to be well-versed in the latest fintech trends. Knowing your way around a spreadsheet will no longer suffice. Successful CFOs should look to the tools and strategies that will shape the next five years.

 

Trend 1

Predictive analytics and data will continue to drive business decisions with more precision and insight than ever before.

Trend 2

Robotics will take over more back-office operations in areas such as Accounts Payable (AP) and Accounts Receivable (AR).

Trend 3

The next-generation of cloud computing will spark the explosion of connected devices and more real-time user interfaces over the next four to five years, according to a recent Gartner report.

Trend 4

Cybersecurity will remain a hot topic, given that 2017 was riddled with high-profile attacks

Trend 5

Budgeting processes and technologies will continue to evolve. As a result, finance will need to hone its tech skills during the budgeting process.