Technology is reshaping how the finance sector works, in terms of both opportunities and risks, and the pace of changes only going to increase. Machine learning, automation and artificial intelligence engines are already being used to analyse financial data and trends and to take decisions about investments and prioritised resource allocation. New technology platforms for investment, peer-to-peer lending, and financial management are challenging the traditional big finance systems and ERP domination.
These new technologies will arguably replace many traditional accounting functions, putting financial controls in the hands of business leaders and automating pattern analysis and financial planning. But how are these trends affecting the public sector today? When and how will they impact, and what does it mean for current practices, skills and roles?
All public service organisations are becoming ‘data driven’. The dependence on systems, information, data linkages and data sharing all create new insight and possibilities. Arguably, a period once focussed on business process re-engineering for greater productivity and efficiency is now becoming an era of data and information management.
This will have an impact in areas such as audit, accounting and financial management, including skills and roles of Finance professionals. With the exponential growth in data sources and information linkages, and with a new power from predictive data analytics tools which can link together multiple sources of data and intelligence, there are new possibilities for medium and longer term financial planning, as well as resource control and risk mitigation.
Thought-leadership presentations and partner workshops will delve deeper into the array of tech solutions available to public finance and accountancy professionals and explore successful business models.
Thought leadership and partner workshop sessions will cover issues including:
- The power of data
- Predictive analytics
- Data sharing
- AI in accounting and audit systems
- Fintech and digital finance tools
- Blockchain and cryptocurrencies
- Risk of fraud and minimising corruption