2030: How the digital transformation will impact the finance function
We asked Per Juul Poulsen, a Strategic Innovation Expert his opinion on the following:
"In your opinion, with the digital transformation, what do you think the finance function will look like by 2030?"
Per Juul Poulsen: "Money has become digital and with it, all functions managing funds are expected to know more about digital solutions. In layman’s terms: From being a number-cruncher to becoming a software expert.
At the same time, the expected results are changing as well. It used to be all about solving for the system, but more and more it’s about creating solutions that are intuitive to a user somewhere. It’s a healthy change, and one that often creates more actual - as well as perceived - value, but nonetheless a rough journey for many organizations.
In the best case, by 2030 a finance function will be just as much about being in charge of funds as being a well-rounded personal being as it is today.
The coldest part, the one centered around numbers, will have shrunk with the help of technology.
The other part, the political being, the solution-exploring master, the “good with numbers”-buddy function will have become larger.
As the challenges keep becoming more volatile, uncertain, complex and ambiguous, the roles of CXO’s are in many cases already melting together.
The role of the CFO
The expectations surrounding what a CFO is and can deliver are already growing at a break-neck pace. It takes strategic foresight, an agile workwise and a firm knowledge of expectation management to stay in charge.
Seen through the glasses of a veteran “designer of solutions”, this all seems very familiar and I’m looking forward to keeping swapping war stories and ideas alike with people from the finance industry in the years coming. And to get inspired by the amazing solutions originating in finance that can be utilized elsewhere."
This opinion piece was written by Per Juul Poulsen who is a Strategic Innovation Expert. He is speaking about 'Why Human-Centered Design matters to finance – and what you can achieve' at the AICPA & CIMA Finance Transformation London event.
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