Preparing for the future
None of us knows for certain what the future will hold, but we all have a responsibility to be thinking about what’s likely to happen, and to prepare for it. In the finance function, that means working now to get the right people and technology in place to take advantage of the inevitable disruption ahead. That’s not likely to happen without a clear vision and strategy for finance in a digital world. Now is the time to step back and make sure your roadmap to that future is clear.
With that in mind, below are eight predictions for finance in 2025, based on what finance leaders are doing and the technology available today. Once you’ve taken a glance through the predictions, consider:
- Downloading the full “Finance 2025” report to understand how each of these trends impacts finance work, finance workforce, and finance workplace and the steps executives can begin to take today.
- Exploring our other Crunch time reports on topics including enterprise service delivery, data management strategy, ERP solutions, finance talent, cloud, forecasting, blockchain, and many more.
Eight predictions for finance in 2025
The methodology for generating our predictions is straightforward. We look carefully at what finance leaders are doing and at the technology that’s available, and then we ask these questions: What would be possible if we combined different technologies to reimagine the future? How would the work of finance get done and who would do it? How could finance contribute even more to the success of the company?
In the years ahead, cloud-based ERP, automation, and cognitive innovation will continue apace, creating opportunities to radically simplify processes and free up people. Adding blockchain to the mix will only accelerate this trend. As this transition picks up speed, the capacity of humans to add value will be unleashed.
Some find it interesting to speculate about finance disappearing under the crush of digital disruption, but we don’t see that happening. Yes, finance will likely be leaner, but that will mostly be a function of headcount in operational finance (order-to-cash, procure-to-pay, transactional accounting, etc.). Meanwhile, expectations for support from business finance (business partnering, reporting, planning, budgeting, forecasting, etc.) and specialized finance (tax, treasury, IR, etc.) will continue to grow.