The Future of Finance.....

Uncategorized Mar 15, 2024

"Once the robots arrive, the only thing left will be business partnering?"

This is our strap line at theFBPteam.

We believe this will become true in the future of finance over the next decade.

The alternative is finance teams get downsized and become back office admin clerks.

And if finance professionals and accountants working in industry do not embrace this reality, then you will not survive this shift.

And nobody wants to see that.

Especially folks like us who have spent a lot of time, money and resource upskilling ourselves on business and how to improve them from a financial lens.

So what do we mean when we say this.

The future of finance is already arriving with the pace of change in AI in the past 18 months.

Pulling in data from many sources, having access to it at speed and live and advanced techniques to predict the future shape of that data, is already here.

It always was, it just took finance a long time to produce it. Not any more though.

And in the next decade that means finance won't have to spend time doing it.

Which leaves us with time to do what......action the things the machines are pointing out. And getting it done through other people.

Which is where business partnering skills come in.

If you don't like leaving your desk and talking to people you will not survive that change.

If you are combative and adversarial you will not survive that change.

And if you can not see the perspective of the business from another functions lens as well as finances, you will not survive that change.

Most finance professionals work this out around mid management. And work on it so they can extend their careers further and have their finance teams make an impact.

In the future, you won't have that time to work it out. You will need to know how to business partner effectively the minute you start.

Which is why we say, once the robots arrive the only thing left will be business partnering.



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