According to Odaily, a recent report by Citi GPS titled 'Finance in 2030' explores the future trajectory of corporate finance functions. The report reveals that a significant 93% of surveyed corporate finance executives anticipate major changes in their roles over the next three to five years. However, more than half of these executives are uncertain about the specifics of these changes.
The report identifies artificial intelligence (AI) and distributed ledger technology (DLT) as pivotal technologies likely to drive this transformation. Despite this, the immediate priority is enhancing access to decision-making data. Two critical shifts highlighted are the transition from batch processing to continuous 24/7 operations, coupled with AI-driven automation. The report suggests that the responsibilities of corporate finance executives should expand beyond traditional areas such as managing financial risk, cash, and funds.
As collections and payments increasingly impact cash balances in real-time, the report argues that digital payment channels should fall under the purview of finance executives. This shift underscores the evolving nature of corporate finance roles, emphasizing the need for finance leaders to adapt to technological advancements and the changing landscape of financial operations.