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5 Trends That Will Shape Finance in 2018

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As the role of the CFO continues to expand, five trends are going to shape 2018.

Once a simple role dedicated to forecasting, budgeting and reporting, typical finance leaders now find themselves shifting from managing money to defining strategy for a company. From an EY report:

When asked how their workload has changed over the last five years, 63% of finance chiefs say that nowadays they spend more time supporting their organization’s development and its strategic goals.Indeed, more than half say they are increasingly taking the lead in developing and defining overall strategy.

This fundamental swing requires skills beyond the accountancy profession (long-term planning, risk management and strategic conceptualization) as a broader purview of the people, processes and technology at the heart of every modern company.

But it starts in finance. Here, challenges and trends set the tempo for the rest of the company.

As we look to 2018, we see five critical trends that will continue to shape and guide finance organizations. Some of these are old challenges that continue to require fresh approaches. Others are still cutting edge but will radically shift how entire teams operate.

The time is now for CFOs and directors of finance to get in front of these change waves.

CFOs and finance leaders take note: these five trends will shape the face of business in 2018, starting with the finance org itself.

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