How is Automation a Positive for Finance?

With Machine processing taking over the traditional accounting tasks, companies are told they need a smaller traditional finance team.

Good news? Yes! But why?

However proficient machines are in automating accounting tasks, they will never come close to business acumen.

Yes, automation repeatedly does the same thing the same way all the time, however what happens when things change?

Business is forever changing; therefore, financial decision making requires business acumen and decision making. And in today’s times, RAPIDLY!

So what should the modern organisation do?

Marginalize the importance of traditional mundane finance tasks, and let the machines generate the numbers. Research reflect that 75% - 80% of time will be freed up for your team.

Use this wisely! Develop your team in becoming better business analysts, entrepreneurs, and business partners. A SMART finance team can offer penetrating risk analyses, precise forecasting and other strategic advice towards an organisation’s long-term financial performance.

Getting the commercial and business acumen individuals is what will make your organisation a winner (and a place to work for)!

Testimonial:

Excel spreadsheets DID NOT replace the accounting practice but made it more efficient and easier to manage. Today, using spreadsheets is a virtually subconscious behaviour, despite what then appeared like a ground-breaking tectonic shift in the profession.

Automation is untethering accountants from spreadsheets. The profession shifts with the advent of new technologies, as do all occupations!

Hiten is a unique and innovative entrepreneur. A leadership motivator, mentor and speaker, Hiten voluntarily offers to share his vision, knowledge and experience of leadership to help inspire and encourage professionals.

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