Hello! My name is Becky.
Have you kept abreast of the latest tech trends that will help to shape the finance areas of your organization in 2019? The role of financial leaders and CFOs will reach beyond finance and includes IT and even digitization and cybersecurity. Let’s take a deeper look a few of these trends.
In 2019, worker productivity will no longer rely so heavily upon spreadsheet software like MS Excel but will forge a new path that includes the transition to automation software, making repetitive tasks more simplified. As a result, staff time is sped up and workflows will become dramatically more efficient.
Providing secure and complete information will remain a key goal, the dependency on solely relying upon paper-based information and repetitive manual tasks that typically results in wasted document searches, making both internal and external audits a nightmare. Trends in 2019 will see the digitized delivery of information, ensuring data is complete and properly monitored to ensure compliance.
2-Increasing Information Security
Today, financial data has become one of the most valued commodities, making organizations more vulnerable than ever, creating greater threats to customers and employees. Cybersecurity is one of the greatest concerns for financial leaders and CFOs. Therefore, a willingness to invest in security technologies that will support end-to-end encryption, disaster recovery and redundant data storage is imperative and will trend in 2019 and beyond.
3-Fraud Mitigation and Detection and Moving to The Cloud
In past years, finance organizations have been faced with an increase in fraud causing severe threats to a company’s reputation. For example, making improvements to prevent fraudulent schemes and monitoring will ensure questionable invoices are instantly rejected with the use of AI-based indexing and document management tools helping significantly to decrease fraudulent activities.
One of the more notable trends in 2019 will see a continuance in the shift from on-premise technology to agile on-demand cloud services that create simplified maintenance, lowers acquisition cost structure and deepen security.
As you can see, these 2019 trends will open new opportunities to address the challenges that finance organizations face will help to create greater leverage. If you want to find out more, click the link below for more information.