There is no escaping the fact that finance has evolved and will continue to change significantly in the coming years. Advancement in technologies such as robotics, machine learning, artificial intelligence and advanced analytics among others, will affect the future finance function dramatically.
The technological advancements heightens the expectations of the future finance function, presenting transformational opportunities to build lean, responsive and digital finance organisations. The journey has already begun, seeing best performing finance functions leveraging Intelligent Automation to simplify and streamline most operational and transactional finance processes, including Order-to-Cash, Procure-to-Pay, Record-to-Report and Hire-to-Retire.
The digital transformation will lead to dramatic changes to the size, structure and delivery model of finance. The future finance organisation will oversee digital solutions automating its operational finance, freeing up resources and enabling focus on value-adding activities that provide strategic contributions to its business partners.
At KPMG, we combine our deep knowledge and experience within finance processes with our strong capabilities within new technologies to provide our clients with innovative digital solutions that automate and simplify finance functions significantly.
To succeed with the digital finance transformation, new skills will be required, while shifting mind-sets into thinking digital in every part of the organisation. We support our clients' journey toward a digital approach, enabling finance functions to move from being scorekeepers to become true value-creators.
At KPMG we assist the finance function in assessing core processes and unlocking value from applying technologies like
- Robotic Process Automation (RPA)
- Machine Learning (Algorithms)
- Cognitive Automation
- Advanced Predictive Analytics
We help create the roadmap, implement solutions, secure value realisation and develop talent through different methods like
- Idea generation, opportunity assessments and business cases
- Digitalization roadmap for Finance
- Pilot projects
- Mobilisation, training and governance
- Full scale implementation and rollout