Shifting to a new job?
Here is how to make an impression.
There’s a lot of uncertainty that comes with a new job – new people, new environment and a new set of responsibilities.
See how you can add value in your new role
A new job serves as a reality check
When taking the helm of the finance function, you must come to terms with the new reality of our industry.
Gone are the days when the finance leader was a numbers person who supplied others with data to take strategic decisions.
Today’s finance leaders are strategists and value creators, with continuous responsibilities to drive strong performance.
A new, challenging job description...
In recent times, the demands of the management and the needs of the team have changed. As a 21st century finance leader, you can expect to meet the following face-to-face in your work.
Need for new financial insights on business performance
Pressure to cut costs of finance and accounting operations
Mandate to improve efficiency of finance and accounting operations
Need to help your team members go beyond repetitive work and add value
How can you achieve these?
Are you capable of magic?
Most likely not.
However, there’s a solution. And leaders like you are already making use of it.
9 out of 10 corporate controllers expect to implement automation by next year
Dennis Gannon, Research Vice President, Gartner
Why automate?
Roughly 42% of finance operations – such as risk management, revenue management, general accounting, audit, etc. – are repetitive and data-heavy, and can be fully automated.
Many organizations have increased efficiency in transactional functions – by 39% or more – including areas such as accounts payable, accounts receivable, and other core accounting areas.
In fact, corporate controllers had been hesitant to deploy automation, relying on their staff, until they realized the cost of human error and the amount of rework made necessary.
Automate how?
‘Robotic Process Automation’ is the buzzword of our industry.
The first step is to identify manual, repetitive actions in your work that a human would otherwise spend a long time on.
And then, you use a software to define a series of tasks – or workflows – and make the software take care of them. That simple.
Here are more details for your curiosity.
Try automation for free
At AccountIfi, we offer a free, no-strings-attached trial of our automation service so you can explore and take an informed decision.
Best wishes for your new role!
From all of us at AccountIfi
Prepared by
Pritesh Mardia
Business Head, AccountIfi
References
Association of Chartered Certified Accountants
Gartner Inc.
Mckinsey & Company