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Finance teams need new digital skillset

Finance teams lack the digital skillset to embrace the latest advancements in AI, says a new study from the Association of International Certified Professional Accountants and Oracle.

March 2019

Finance teams lack the digital skillset to embrace the latest advancements in AI, says a new study from the Association of
International Certified Professional Accountants and Oracle.
To make the most of the new technologies finance teams need to be evolving the competencies of their staff in areas such as analytical thinking, decision making and business partnering. At present, this skills gap is having a negative impact on revenue growth.
The study of over 700 global finance leaders found 89% of organisations have not deployed AI in the finance function, and only 10% of finance teams believe they have the skills to support the organisation’s digital ambitions.
The report identifies three common traits tech-savvy finance teams have:
• Digital finance leaders have a digital-first and cloud-first mindset, which automatically gives them greater access to intelligent process automation.
• Leading finance teams are able to connect data that was previously in disparate applications to uncover new insights.
• These teams move beyond reporting and are using data-driven insights to influence the direction of the business.

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