With the new year now up and running, finance leaders must be able to keep up with the trends that will dominate the market to be able to plan and strategise ahead.
Among such trends are artificial intelligence, talent retention and upskilling, and ESG.
Artificial intelligence
Finance tools that are boosted by artificial intelligence are being adopted at an exceedingly rapid rate across various sectors. The technological advancement offers automation in routine tasks and helps identify risks and trends that could otherwise have been missed.
On the flip side, finance leaders must watch out for concerns on data security and integrity. Finance leaders have to upskill themselves to maximise the opportunities heading down the track, as well as properly understand and manage the risks.
Talent retention and upskilling
Finance leaders must be paying very close attention to significant challenges in talent acquisition and retention in the recent years, brought about by a historically tight labour market. CFOs and finance leaders must understand how these can affect the organisation and the finance team.
Talent upskilling and retention are vital part of meeting such challenges as it is also the point where talent strategy intersects with technology strategy.
Finance teams must be prepared for the next stages of digitisation to keep a competitive edge in the market.
ESG
ESG reporting is likely to be more on the center stage in 2024, making evaluation of the organisation’s governance structure and sustainability strategy an imperative to identify gaps in time to address them.
