The adoption of advanced technologies such as AI, automation, and analytics is on the rise among CFOs. These tools are being used to fast-track digital transformation initiatives, making recruitment processes more efficient, improving training programs, and increasing employee engagement. The use of technology has the potential to enhance employee engagement, and organizations are incorporating them into training programs to build a more agile team.

Finance organizations are planning to increase their use of advanced analytics to gain business insights in 2021 and beyond. However, implementing these changes such as cloud financial management solutions can be challenging due to a lack of change management and post-go-live management capabilities within finance functions. This highlights the importance for finance professionals to acquire advanced analytics skills to ensure the successful implementation and utilization of cloud financial management solutions.

The Money and Machines Report found that millennials and Generation Z respondents would trust a robot more than their organization's finance team. This highlights the need for finance organizations to adapt to the changing demographics of the workforce by creating a more diverse and inclusive talent pool. Additionally, the role of Chief Accounting Officers (CAOs) has become increasingly impactful, providing the tactical tasks necessary for CFOs to thrive. CAOs oversee the daily accounting operations and partner with CFOs to automate mundane tasks through cloud-based ERP and EPM.

Finance outsourcing has become an increasingly popular option for companies looking to improve financial process management and efficiency. Accounting outsourcing services in India offer cost-effective solutions to businesses of all sizes. Outsourcing for accounting firms provides access to specialized skillsets, technology, and expertise, enabling companies to focus on their core business functions.

Partnering with a finance business partner can also provide value-added services such as financial analysis and strategic planning. By outsourcing finance processes to a trusted accounting outsourcing company, businesses can achieve better financial control and compliance, enabling them to make informed decisions about their financial future

As the finance talent market in the US continues to evolve, companies need to stay ahead of emerging trends and opportunities. Deploying technology to augment finance talent, increasing demand for specialized skills, and creating a more diverse and inclusive talent pool are key strategies for success. Accounting outsourcing services offer businesses a cost-effective solution to improve financial process management, while partnering with a finance business partner can provide value-added services such as financial analysis and strategic planning.