التحول الرقمي - شبكة المحاسبين العرب

الثلاثاء, 13 يوليو 2021 12:43

ندوة ويب: كيف يمكن لشركات الخدمات المهنية تحقيق سرعة المبيعات؟

معلومات إضافية

البلد عالمي
نوع الفعالية مجانا
بداية الفعالية الأربعاء, 14 يوليو 2021
نهاية الفعالية الأربعاء, 14 يوليو 2021
التخصص محاسبة ومراجعة
مكان الفعالية أونلاين

نشر في فعاليات مهنية

موسومة تحت

الخميس, 08 يوليو 2021 13:15

التحول الرقمي أمرًا لا بد منه في مرحلة ما بعد الجائحة

بالنسبة للمدراء الماليين، يعتبر التحول الرقمي أمرًا لا بد منه في مرحلة ما بعد الجائحة

معلومات إضافية

المحتوى بالإنجليزية digital transformation is a post-pandemic must
The massive remote work experiment forced upon business by the pandemic has been largely successful for two reasons — the perseverance and diligence of employees and the virtual technologies used to communicate, collaborate and automate business processes.

In the finance and accounting (F&A) function, work tools like video conferencing platforms and automated software solutions allowed for work to proceed — invoices were sent, bills were collected, revenues and expenses were recorded, and companies closed the books. This information served a crucial purpose, enabling more insightful CFO decisions, and the ability to rapidly respond to unpredictable market changes.

With the pandemic receding as the public gets vaccinated, many CFOs are heeding the lessons learned over the past 14 months and doubling down on business process automation. While this digital transformation was underway pre-COVID-19, the impact of the pandemic on how people work has accelerated CFO investments in technologies that allow F&A teams to virtually access data across enterprise systems, enhance efficiencies, optimize cash management, reduce costs, and provide clearer visibility into business performance for decision-making.

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The findings of three recent surveys suggest renewed CFO urgency surrounding digital transformation, with investments geared to helping the F&A function thrive in today’s “new normal” of work. Deloitte’s Q1 2021 CFO Signals, for example, indicates that more than three-quarters of CFO respondents expect more of their finance and accounting work to be completed remotely post-pandemic. Nearly two-thirds (63%) plan to make technology investments that improve FP&A (financial planning and analysis), management reporting (46%) and controllership/accounting (25%).

A survey by Gartner on CFO digitalization imperatives concluded that finance chiefs have entered a period of significant finance and accounting transformation, with CFOs looking to invest in technologies that enhance financial data visibility and generate functional efficiencies. More than 9 in 10 (93%) of the CFO respondents have a vision for the function that is leaner, more digital and driven by data.

Since the pandemic reared, BlackLine’s latest annual survey of 1,300 C-level executives and F&A professionals in midsize and large organizations found that more than one-third (36%) of the respondents had invested in automation technologies. Another 40% are planning to improve financial planning, analysis, budgeting and forecasting through further investments in automation over the next 12 months.

A pivotal juncture

The three surveys suggest that CFOs no longer view business process automation in F&A as an impractical for now “nice to have.” Rather they have mustered the resolve to invest in the function’s digital transformation. Chief among the reasons appears to be the need for CFOs to make decisions rooted in reality. Without real-time business data upon which to base their deliberations, the risks of making inferior decisions looms high.

That’s just one of the conclusions from another recent CFO survey from Accenture. While 99% of the 450 CFOs of companies with at least $1 billion in revenue say real-time data is “critical” for them to navigate changing business conditions, only 16% of the respondents are being informed by this data at a scale that’s needed.

The surveys sponsored by both BlackLine and Deloitte affirm that businesses are increasingly reliant on the F&A function to provide crucial data and analysis for decision-making. One-third (33%) of the respondents to the BlackLine survey say the pandemic has increased pressure on the function “to provide an accurate picture of company performance” and 29% say they feel pressured to “do more with less.” The Deloitte survey arrived at a similar conclusion, with 54% of the CFO respondents citing “higher demands from executive and leadership teams” and 37% reporting a higher volume of work in the F&A function.

To address these pressures, all four surveys indicate that CFOs are committed to spending capital to build real-time business processing capabilities. The Accenture survey, for instance, indicates that 44% of the CFO respondents plan to have nearly all finance processes and operations in real-time in the next three years, with 33% planning to invest at least half the F&A budget in this area.

Gartner’s survey cited the types of technology investments needed to transform F&A into a “digital” function.” They run the gamut from robotic process automation and machine learning tools used for budgeting and forecasting to technologies that automate and orchestrate end-to-end finance and accounting processes, “unlocking data and insights for the business at scale.”

The various survey findings also suggest that many CFOs are looking to enhance the skills sets within the F&A function. Deloitte’s survey indicates that most CFOs would like to “bolster” their F&A teams’ talents in data analytics, forecasting, technology, digital and automation. Gartner’s survey says that CFOs are looking to fill a “growing digital skills gap” in the function to improve its ability to “exploit digital technology capabilities.”

More than half (58%) of CFOs in Accenture’s survey expressed concern about having talent within the function to perform real-time scenario planning. BlackLine’s survey indicates that more than one-third (34%) of the respondents will increase headcount to improve the F&A function’s analysis and forecasting capabilities.

If the various survey findings are correct, it will represent a sea change within the function, which has long been undermined by outdated, spreadsheet-driven manual processes, the primary reason impelling 37% of the BlackLine survey respondents to digitally transform the function. While CFOs have allocated capital through the years to automate profit centers like sales and marketing, they have been disinclined to invest money in a function they lead, perceiving it as more of a cost center.

In 2020, this mindset became as antiquated as yesteryear’s F&A processes. As the four surveys suggest, modernizing the function is a competitive imperative.

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موسومة تحت

الثلاثاء, 19 يناير 2021 13:08

كيفية ظهور محاسبو جمعية المحاسبين القانونيين المعتمدين (ACCA) كقادة أعمال مؤثرين؟

في كثير من الأحيان يمكنك أن تُحبس في بيئتك الخاصة. جمعية المحاسبين القانونيين المعتمدين (ACCA) تفتح عينيك على العالم

معلومات إضافية

المحتوى بالإنجليزية From Russia with Losevskaya
Language no barrier as Oxana brings her global view to Council
"Too often you can get locked up in your own environment. ACCA opens your eyes to the world"

Oxana Losevskya, Council member
There can be few economies in the world which have experienced as much change as Russia’s over the last generation.

When the command economy of the Soviet era collapsed the country was plunged into a market system. Millions were forced to find their feet quickly, and to make a living in a new way.
Entire professions were affected too – among them accountancy. Finance professionals had to grapple with an entirely new landscape, and were faced with the daunting task of guiding businesses into the strange world of capitalism.

It is a process which still goes on – but Russian accountants are increasingly emerging as leaders, creators and important partners for businesses in Russia.

‘It has changed,’ said Oxana Losevskaya, who comes to her work in Moscow with a global perspective. She was born and educated in Russia, but has also worked and studied in other countries, including Australia. She graduated in accountancy at the University of Sydney before returning to Russia where she followed her ACCA Qualification while working for EY, taking classes on Saturdays and Sundays

‘When I first began working in Russia, accountants were not considered to be the most important people in a business,’ she said.

Distinct path
‘Accountants were not so well established at the top of organisations. They lived in the shadow of the powerful CEOs, and their work was not seen to be as important as sales, or marketing. Finance was left behind. We were just the numbers people.’

Not any more.

‘We are far more likely to be seen as an important business partner now, with wide skills that go beyond making the sums add up,’ she said.

That is true of Oxana’s own work, as the partner of SL Partners in Moscow, a business strategy consultancy which advises companies on management and planning, financial modelling and valuation, performance analytics, digital transformation, due diligence, fundraising and mergers and acquisitions.

Oxana also says that ACCA is playing an important role in building the profession in the Russian-speaking world, by offering a distinct path into business for the leaders and entrepreneurs of the future. Crucially, it offers a Russian language option for students, which makes it stand out for ambitious young professionals in the region.

‘The prospects for growth for ACCA are enormous,’ said Oxana.

"I want to play my part in bringing ACCA to many more people all around the world. I want to be useful"

‘You have to remember that the Russian language is used in all of the countries of the old Soviet Union, 15 countries. There are already about 3m accountants in Russia alone, and I am certain that the profession will grow even more in popularity.’

Oxana is proud that ACCA is reaching out to people who want to build a career with fellow professionals who are equally committed to working ethically and in the interests of society. She has been advocating for ACCA since the day she qualified.

‘It has become so important in my career and in my life,’ she said.

‘Too often you can get locked up in your own environment. ACCA opens your eyes to the world.

‘I love the atmosphere when I go to an ACCA event. It is so friendly it is like a family. That is the feeling I am certain I will have on Council, and I want to play my part in bringing ACCA to many more people all around the world. I want to be useful’.

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موسومة تحت

الأحد, 17 يناير 2021 13:40

توقعات الرؤساء الماليين في السوق المتوسطة لعام 2021

يتوقع غالبية الرؤساء الماليين في السوق المتوسطة حدوث انتعاش اقتصادي وزيادة الإيرادات لشركاتهم في عام 2021

معلومات إضافية

المحتوى بالإنجليزية Midmarket CFOs expect revenue growth in 2021
By Michael Cohn

A majority of middle-market CFOs are predicting an economic recovery and revenue increases for their companies in 2021, according to a new survey by BDO USA.

The 2021 BDO Middle Market CFO Outlook Survey, found that 60 percent of the 600 CFOs polled at midsized companies anticipate economic recovery, while 56 percent expect revenue increases, in 2021. In addition, 62 percent of the survey respondents anticipate their company will be thriving a year from now.

Nearly three-fourths of the middle-market CFOs said their companies received government assistance as a result of the crisis. Cost cutting and reorganization for resilience are the top priorities for many CFOs.

The pandemic made an impact on nearly every company, and 39 percent of the CFOs polled indicate that the pandemic accelerated digital transformation at their companies, while 38 percent said it opened new expansion opportunities for products or services and 31 percent for new geographies.

“Unprecedented was the buzzword in 2020 for good reason,” said BDO USA CEO Wayne Berson in a statement. “Many middle-market companies persevered through levels of transformation and disruption in one year akin to what some companies experience in a full lifecycle. But rather than hunker down and endure, middle market leaders endeavor to move forward to refresh strategy and enhance agility. While we’re not out of the woods, the middle market is poised to pivot to new levels of potential.”

Deal flow was unsteady last year as CFOs assessed and reassessed the possible outcomes of the pandemic’s impact on their business. However, CFOs appear to be more optimistic this year, with 29 percent planning to seek private equity investment, 24 percent want a merger or acquisition and 20 percent hope to pursue an IPO.

While returning to the office or floor is critical for many CFOs, 43 percent of the respondents said they would increase or establish permanent remote work options. Office space is likely to be downsized, with 28 percent of the CFOs polled planning to eliminate or consolidate their current real estate footprint. CFOs also intend to build a more flexible workforce through automation (38 percent) and outsourcing (32 percent).

The main threats cited by the CFOs include a prolonged economic downturn, competitive pressure, supply chain disruption and falling behind on technology or innovation.

Coming out of an election year, tax challenges are also going to be important, with understanding total tax liability (19 percent) and navigating shifting trade and tariff policies (17 percent) among the top challenges cited by the CFOs. Managing disclosures and risk factors is also a top financial reporting challenge as the CFOs try to assess how to communicate impact of COVID-19 on matters that may be material to stakeholders.

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موسومة تحت

الأحد, 03 يناير 2021 12:37

ضمان تكافؤ الفرص في الوصول الرقمي للشباب

في الاستبيان السنوي الثالث والعشرون للرؤساء التنفيذيين العالمي لشركة PwC، والذي تم إجراؤه قبل جائحة COVID-19 ، قال 74 بالمائة من الرؤساء التنفيذيين إنهم قلقون بشأن توفر المهارات الأساسية

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المحتوى بالإنجليزية Case for change: Ensuring equal opportunity digital access for global youth

by Bob Moritz and Henrietta Fore
In PwC’s 23rd Annual Global CEO Survey, which was undertaken before the COVID-19 pandemic, 74 percent of CEOs said they were worried about the availability of key skills. At the same time, we know that many of today’s youth — the people who will become our employees, customers, and, ultimately, our successors — aren’t getting the access to digital technologies and skills that enable them to thrive.
When schools around the world closed due to the pandemic, one in three young people — some 463 million — lost their only avenue for learning. According to a May 2020 surveyPDF by the International Labour Organization, approximately 90 percent of technical and vocational education and training centers in 126 countries reported complete closure. And more than 40 percent of employed youth were working in sectors hit hard by COVID-19PDF. More than ever, it is imperative that we take steps to close the youth digital divide.

The pandemic has accelerated existing trends and exposed, in a stark light, structural weaknesses in institutions and economies. Inequalities are rising at alarming rates for the most vulnerable in every society, particularly for the unconnected half of the world. As more facets of everyday life become increasingly digital — including education, work, healthcare, news, leisure — youth who are excluded from the digital world will almost certainly suffer long-term or permanent social and economic disenfranchisement. Unless we take action.
This is a moment to turn a crisis into an opportunity — not only to address the economic and social impacts wrought by the pandemic, but to rebound in a way that reverses long-standing challenges and puts youth on a more equal future footing. At the same time, we can also improve the economic fitness of societies at large, giving millions of workers the skills and resources necessary to participate fully in a society and economy that are increasingly digital. To achieve these ambitious goals, however, stakeholders — including businesses — will have to think differently about the roles they play.

As Stepping forward: Connecting today’s youth to the digital future, a report written by our colleagues at PwC and UNICEF, notes, there are four stepping stones that put disenfranchised youth, and thus society as a whole, on the road to a better future.

• Connectivity. The technical elements that allow youth to get online and access the internet and digital platforms: reliable power, digital infrastructure, and devices such as computers, mobile phones, and routers.

• Access. The non-technical elements that allow youth to take advantage of opportunities once they’re connected. These include cultural acceptance of online activity, family engagement and support, native-language content, wellness and emotional resources, and mental healthcare.
https://www.strategy-business.com/article/Case-for-change-Ensuring-equal-opportunity-digital-access-for-global-youth?gko=eca1d