Future of Finance
Bryan A Robert
Bryan Hoo and Robert Samuel are active authors as well as Professional Investors in different financial markets and they founded Bryan&Robert Publishing as their flagship publishing company.
This is the complete lesson notes on the topic "Future of Finance".
Alright, it is lesson time again! We will continue to talk about the topic "Future of Finance" which we will discuss about the future form of Finance. Enjoy~??
Understanding of key megatrends of future finance are as below:
1. The exponential growth in data. Structured and unstructured data can be now analyzed for insights and utilized to drive decision-making—a capability that will need to be maintained as data continues to proliferate.
2. Lower computing costs. With the growing acceptance of the cloud, companies can now access computing power often at a lower cost than previously.
Some of the Mega Trend in Future of Finance:
-Smarter algorithms. Algorithms have gained the capacity to drive innovation and communication, as well as changing how finance drives value across the organization.
-Faster processing speed. Millions of transactions can now be handled in real time, with data extracted and fed into the finance processes that drive decision-making.
领英推荐
Possible Form#1: The finance factory.
Once end-to-end automation—enabled by technologies ranging from cloud-based ERP to blockchain, and from robotic process automation to cognitive tools—manual processes and rework within finance will disappear. The result: a shift from finance as a “function” to that of a factory, conducting touchless and seamless transactions. As traditional processes disappear, so will the silos around them, eliminating the traditional hand-offs in transaction processing. The focus of finance will shift to design, configuration, and maintenance of systems. The use of algorithms and cognitive agents, embedded on desktops, will place a premium for attracting and retaining finance talent with technology skills. Digital technology will free up capacity, enabling finance to become more integrated with the business—and leading the business to increase its expectations of finance.
Possible Form#2: The role of finance.
With operations automated, finance’s focus will shift to supplying business insights and helping provide differentiated service to customers by acting as catalysts and strategists. Processes involved in budgeting, planning, and forecasting—which have historically required manually intensive end-of-month heroics—will become increasingly routine as a result of automation.
Finance also will be expected to provide more scenario planning and using advanced analytics to help solve problems and develop predictive capabilities. Instead of merely reporting historical numbers, finance will use data to help the enterprise become more intelligent.
Okay, that is all from today lesson. More and more interesting topcis will be discussed in the future. Stay Tune~??
Sign Up for our Newsletter and receive a Mysterious Gift by clicking this link: https://bryanandrobertpublishing.com
#FutureofFinance #fintech #finance