We all are pretty unsure about the coming future, but we all have to be responsible for what can happen and prepare our best. With the NexGen Finance Transformation Summit approaching, we must begin working to get the right people and technology all together to have the benefits of inevitable disruption ahead. It won't be possible without having a clear understanding and strategy for digital finance transformation. Now is the time to reconsider your strategy and ensure your roadmap to the coming future is clear.
In this article, we will explore the top predictions for finance in 2025, on the basis of what finance leaders are currently doing and with the technology available in our hands.
In 2025, transactions are going to be touchless as blockchain and automation technology reaches deeper into finance operations. These will create new opportunities to simplify processes and free people. As fast as this transition goes, the capability of human beings to add value will be unleashed through Digital Finance Transformation.
Whether finance continues to direct the resources currently under its control will depend on its capability to add value. This will need quality insights and exceptional customer service. Some finance organizations because of this will transform into full-fledged business service centers. There is no doubt that numerous companies understand that sharing knowledge across disciplines is probably a good idea, even if that means inviting headaches.
Enterprise Resource Planning Vendors have already started integrating digital technology such as blockchain, automation, and cognitive tools into their products thanks to Digital Finance Solutions Germany. However, that will not forestall competition.
The landscape will change as new players enter into the ERP world with specialized applications and microservices that sit on top of and integrate with ERP platforms. Through Cloud-based ERP you will be up-to-date constantly on the latest release.
This year finance will enter a new age of technology. Because the cloud will be the norm for ERP, finance applications, and microservices. You can drastically reduce the cost and complexity of technology and don't have to sacrifice functionality.
Many entrepreneurs do not require support when we talk about the basics of Finance Transformation Technology. All they need is to get their answers in a digital voice via their smartphones, and they will be happy. Things like budget queries, report productions, etc, will be automated. As time passes, smart agents will understand what type of business information a single person will require and will deliver that data proactively. As that future keeps coming close, data in spreadsheets will get replaced by visually rich information that can be used easily and is accessible.
With people having high expectations on quality and responsiveness from finance, it is vital to get self service right. When your customers have to be responsible for themselves, you would not want them to be unsatisfied or frustrated.
In 2025, employees will be doing new things in new ways, some of which will make CFOs uncomfortable. With a premium placed on business analysts, storytellers, and data scientists, finance talent models are evolving too fast. This would showcase a huge shift for numerous finance organizations.
To be prepared, ensure your new hirings represent the future you are striving for. Important qualities include flexibility, good collaboration skills, and a strong customer service orientation also not forget the technical capabilities required for specific jobs.
Also, all people may contribute to elevating the value of finance when it comes to impact, communication, and influence. So remember to make each new hire count.
That's all the predictions for 2025 for you. Now it is time to discuss the main event where you will get to know more about these predictions coming true. Are you prepared for The Future of Finance Summit? An annual event that brings together finance leaders from various sectors to discuss the future of the Digital Finance Transformation.
The Summit is your gateway to the latest trends, technologies, and strategies that redefine financial transactions. You will be engaging with thought leaders during keynote sessions, participate in dynamic panel discussions, and connect with professionals at the forefront of the payments industry.