Far-reaching digitisation is the new standard in finance. Smart, fully automated processes eliminate manual transactions and complex spreadsheets. No hands accounting, as it’s known at Exact. Exact CFO Onno Krap, and Kevin Mottard, manager of the Dutch CFO community at Alex van Groningen, explain the radical impact of digitisation on companies.
‘If the financial professional doesn’t act quickly, disruption will ensue.’ Last week, the Free University and The Royal Netherlands Institute of Chartered Accountants (NBA), two Dutch educational institutions, published findings that the financial role is ripe for disruption. In their research, they addressed the questions of what the impact of technology on the finance role is, the current extent of the application of Robotics and Data Analytics (RDA) in the financial role and how this will change the required knowledge and competences of the financial professional. Conclusion: the majority of financial professionals underestimate the impact of technology in their work.
HR is not taken seriously in the majority of organisations and this is primarily because of HR itself. And by this I don’t mean that HR professionals are seen as 'softies'. No, it concerns the balance between the heart and mind, between sensing and knowing and between having a hunch and actually being 100% sure.
No sugar, fewer carbohydrates, gluten-free. Mindful and healthy eating is hot. Consumers are turning away from unhealthy products en masse and embracing one superfood trend after another. How do you respond to this as a food manufacturer? Do you go wherever the wind blows? Or do you still need to master the art of versatility?
Many financial managers experience challenges on a daily basis. They possess crucial information that can heavily impact business strategy, but are often unable to contribute to researching the results. Since traditional reporting methods are so time-consuming, they often just forward the information, rather than analyse and discuss it. The right BI tools can change this situation.
Did you know that in Southern Europe, VAT has to be withheld and paid towards invoices from freelancers? And did you know that the financial year runs from April to March in Japan? And that the German Finanzamt requires data from your administration to be submitted in a specific format? These might not be the most appealing aspects of international business, but you will encounter them if you have offices abroad. How do you link the administrations of your international offices with one another? We give you five tips to make your life easier.
For many companies, technological innovations are becoming a reality. Internal and external developments have to be constantly assessed, anticipated and acted on. This drive for transformation will put companies under major pressure. How can HR stay ahead of the curve?
Financial managers who are searching for ways to work faster and smarter are exploring the potential of big data. Big data undoubtedly has a lot to offer the financial manager. But not ‘just like that’. It’s possible to have a mountain of data, but that mountain is of little value without the strategy and the tools to convert the data into useable insights.
The food industry is under pressure. Competition over scale, costs and prices is intense. How should you deal with price fluctuations? Approached in the right way, you’ll make a profit. If not, you could be faced with significant expenses.
Automation and algorithms are increasingly dominating financial processes. One important technological development is predictive analytics. What is it, what makes it successful, and what can – or should – the CFO do with it?