5 Megatrends to Reshape Finance Landscape by 2025

Since we are witnessing rapid digital trends and the future is unpredictable, finance needs transformation and thinking. One way finance professionals can achieve this goal is by choosing an executive programme in Digital Finance Transformation that offers an inclusive framework of strategy, capabilities, and tools to shape the future of finance. Finance professionals to get laser-focused insight and strategic vision of what finance leaders do and what new-age technologies would power them to create an impact, we bring you 5 megatrends that will change the outlook of finance in the next half-decade. To stay ahead in a digitally agile business environment, know these trends now, or get left behind!

Automation and Blockchain

The emergence of automation and blockchain technologies will upend and simplify finance functions/operations in organizations and create opportunities for finance professionals to explore new goals and unleash value to enhance business performance. The trend in the near future would make every finance process efficient, agile, and touchless. This can even bring in doubts about whether finance would fade away due to the fierce digital intrusion, but that’s not the case! Business partnership, planning, budgeting, and reporting roles still need human intervention.

Data-Driven Insights

Though finance professionals are able to produce value by directing resources or executing finance operations, it will still require qualitative insights and exceptional service. In the near future, there is a tendency that companies would become business service centers and this would require financial professionals to keep up with the evolving trends by sharing knowledge across disciplines and pushing boundaries.

Operating Models

Deploying AI technologies into company finance operations will have a major impact on costs and will provide a new approach to finance managers to better manage finance. It would also bring accountability into their organizational aspects, track work progress and automate tedious finance tasks that require huge human effort. Along with this, companies need to take proactive steps to enable finance managers to develop cross-functional expertise to face a disruptive future. Companies can also help finance managers to take up Executive Digital Finance Transformation programs from prestigious IIMs to navigate these transitions as innovative and agile finance leaders.

Data Standardization

Aligning and integrating huge datasets is a big challenge to companies and CFOs and they work hard to meet data standardization. But this is only for a few who haven’t heard of digital finance transformation! Yes, digital finance transformation is one of the silver bullets that use cognitive and automation technologies to make this process viable and easy. Data processing can help you map data onboarding from external systems as well as handle internal datasets and making them credible for the entire organization and finally creating complex calculated metrics based on business logic. Standardization in an organization helps CFOs remove inconsistencies in the data structure, format, schemas & values.

To master a new class of digital capabilities and take the next step in finance leadership, finance leaders can opt for the executive digital transformation course offered by the IIM, Lucknow with its academic partner - Miles Education.

Miles Education is India's #1 CPA, CMA & CFA with presence across India, Middle East & US. Miles Education up-skills students & professionals to be future-ready with a career progression in Accounting & Finance.