THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(established under the Accountants Act, Laws of Kenya)
In Partnership with:
VIRTUAL CFOs FORUM
Date: 12th August 2020
Theme: Future of Finance: Is your Finance Function future ready?
In our experience and based on our research many CFOs believe that their current finance function is not equipped to meet the demands the future will place on it. We believe that many senior executives are, in fact, underestimating the changes on the horizon for the finance function. As technology, globalization and demographic trends continue to disrupt organizations, industries and indeed the working world, the role of the finance function will increasingly be brought into question as organisations seek more real-time and accurate insights on their performance. This is the year of making tough decisions: finance function can lead the charge in adopting digital solutions and using them to develop insights for the business or they can fade away into the background where they will find that in time their roles will be replaced by digital solutions. Technology will play an increasingly significant role in executing many traditional finance tasks while at the same time generating greater insights.
Finance functions must therefore aim to become data-driven decision-centres. Meanwhile, finance people will spend a greater proportion of their time working with colleagues across the organization to make decisions in support of the strategy.