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Finance of the Future – Looking forward to 2020
This paper focuses on understanding and analyzing the changing nature of business in the current economically troubled times and how they impact the finance function. The paper also draws up a vision of what the finance function might look like by the year 2020.
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Key insights include:
- Globalization and the consequential risk exposures of capital markets will require finance professionals to plan ahead and take decisive actions. Increasingly demanding investors make the function all the more critical.
- The finance function will have to continue to embed the controls and risk management processes in the organization and help formulate policies and procedures that can ensure the organization’s growth.
- The globalization of technology will continue to standardize and simplify systems and processes and companies would adopt ERP environments more readily. This would enhance the transparency of the finance function and would free up time for financial professionals to support performance management across the business.
- The social wealth of emerging economies will contribute to the transfer of lower value, mid-office activities from developed countries, and existing shared service center processes will become fully automated. Organizations will seek to reduce costs and add value by such outsourcing.
- The finance professional of 2020 will be involved in every step of the decision-making process and play the role of a strategist rather than that of an accountant.
For more details, please download the full Adobe PDF version of the report from the link below:
finance_of_the_future_-_looking_forward_to_2020.pdf, Size: 454.9 KB© 2010 KPMG Safi Al-Mutawa & Partners, a Kuwait partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved.
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