Emerging technologies to help transform the role of finance: the key role of Modern CFOs and Finance Executives.

When it comes to productive and efficient technology-enabled finance function, Connectikpeople.co views ability, observes lack of internal skills, and considers that, the modern CFO has to recognize the value of digital and cloud technologies for the finance function and the business. But according to the Oracle and Accenture co-sponsored a global study with Longitude Research, entitled “Empowering Modern Finance: The CFO as Technology Evangelist

”, a gap remains between CFO ambitions and reality;

Connectikpeople.co observes that, over two-thirds of respondents agree the CFO is a strong evangelist for the transformational potential of technology and nearly three-quarters of finance executives believe new technologies such as the cloud, mobile technology and social media will change how finance is structured and run.

20 % of C-suite executive respondents believe that their finance organizations have adopted leading-edge technologies, in contrast to sales organizations, in which 43 percent of C-suite executives view as already having done so.

Nearly half of respondents saw an increase in the number of finance analysts hired over the past two years, reflecting the growing need for finance talent with a deeper and broader range of business and analytical skills.

28% of respondents are already using the cloud to support budgeting, planning and forecasting.

34 % plan to move them into the cloud within the next year.

5 % of respondents cite lack of senior management support as a barrier to adopting new technologies in the finance function.

Finally according to this report, ‘’ability, rather than willingness, seems to be a greater factor, with 38 percent of respondents citing lack of internal skills as a key barrier’’.