Today, we launched our latest research project on technology and the profession – Digital transformation in finance functions: ASEAN and UK perspectives. The report, in conjunction with the Institute of Singapore Chartered Accountants, shares the practical experience and insights of ICAEW and ISCA members in the UK and across in the ASEAN region on how finance functions are adapting to new technologies.
It’s an important topic because technology itself only gets us so far – to make the most of technology opportunities, organisations need to change and adapt, and this isn’t an easy process. While the overall vision for digital transformation in finance is clear – automating as many repeatable processes as possible and spending more time providing insights to the business – many finance functions still have a long way to go in achieving this. Looking at the issues from across the UK and ASEAN countries such as Singapore also provides a rich base of experience to draw from.
The report has three key messages:
We launched the report this morning in Singapore, with over 150 finance professionals in attendance at our event with ISCA. Even though our panel discussion lasted over an hour, we didn’t get close to answering all of the audience questions! The discussion was wide-ranging but emphasised reskilling, embracing change and thinking big in terms of the opportunities for finance. See some pictures below.
So there is lots of interest in the topic and I’ll be talking about it with members, students and other stakeholders as I travel around the ASEAN region over the next few weeks.